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2012-10-18
The Palestine Exchange (PEX) received the unaudited
interim condensed financial statements from
Palestine Investment & Development Company (
PID). PEX disclosure rules give all PEX listed companies one month to report their third quarter interim financial statements as reviewed by the company’s internal auditor. In addition to this press release, this disclosure was published on the PEX website (www.pex.ps) and emailed to PEX member securities firms.
PID is the first company within the
Investment Sector to disclose its interim financial statements for the first nine months of
2012.
The disclosed information includes: the Statement of Financial Position,
the Statement of Comprehensive Income, Changes in Equity Ownership, and the Statement of Cash. The company also provided its interim financial statements via the approved electronic form of disclosure applicable to the
Investment Sector. The interim report should also include information required by Article (37/2) of the PEX disclosure rules in place. The company
included information regarding management, issued shares, material changes and significant events that may have affected financial performances during the first nine months of the year.
According to company data for the first nine months of the year, net loss reached (64,528)
JOD, compared with a net loss of (19,052)
JOD from the first nine months of
2011, a net
increase in loss of 238.7%. Total assets of the company reached 2,508,736
JOD as of September 30th,
2012, compared to total assets of 2,578,150
JOD as of December 31st,
2011, a net
decrease of
2.7%. Total liabilities of the company reached 45,983
JOD as of September 30th,
2012, compared to total liabilities of 50,869
JOD as of December 31st,
2011, a net
decrease of
9.6%. Net ownership equity of the company reached 2,462,753
JOD as of September 30th,
2012, compared with a net ownership equity of 2,527,281
JOD as of December 31st,
2011, a net
decrease of
2.6% in the first nine months.
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