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GB Auto and its subsidiaries (S.A.E.)
Notes to the consolidated financial statements For the financial Year ended December 31, 2014
(In the notes all amounts are shown in Thousand Egyptian Pounds unless otherwise stated)
December
31, 2014
December
31, 2013
Due to related parties
Marco Polo Company
18 074
14 499
Executive directors
2 927
-
GK Auto Shareholders’ Current Account
3 774
2 183
GK Berlin Shareholders’ Current Account
-
3 491
El-Kalam Share holders’ Current Account
-
10 730
24 775
30 903
The following is the nature and the values for the most significant transactions with the related- parties during the year:
Transaction amount
Related party name
Relation
type
Transaction
nature
December
31, 2014
December
31, 2013
Executive Directors
Board of direc-
tor members
Cash transfers
(3 826)
-
Board of direc-
tor members
Top manage-
ment salaries
19 407
23 769
El Bostan Holding
Contribution in
one of
subsidiaries
Cash transfers
21 197
-
GB Trade-In Co.
Contribution in
one of
subsidiaries
Cash transfers
27
-
GB Kassed Shareholders’
Current Account
Contribution in
one of
subsidiaries
Cash transfers
81
-
El-Nabateen Shareholders’
Current Account
Contribution in
one of
subsidiaries
Cash transfers
186
-
Marco Polo Company
Contribution in
one of
subsidiaries
Cash transfers
3 576
2 274
GK Auto Shareholders’
Current Account
Contribution in
one of
subsidiaries
Cash transfers
1 591
-
El Kassed for
Commercial Agencies
Contribution in
one of
subsidiaries
Cash transfers
-
12 109
GK Berline Shareholders’
Current Account
Contribution in
one of
subsidiaries
Cash transfers
3 488
7 828
GK El Moultaqa for
Trade and Investment
Contribution in
one of
subsidiaries
Cash transfers
-
2 456
El-Kalam for Public Trading
Contribution in
one of
subsidiaries
Cash transfers
17 256
-
Ghabbour Auto | 2014 ANNUAL REPORT
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