A segment is a distinguishable component that is engaged in providing products or services (a business segment), which is subject to risks and rewards that are different from those of other segments.
The Company only operates in the Kingdom of Saudi Arabia.
Segment information is presented in respect of the Company’s business segments which are cars, real estate and furniture based on the Company’s management and internal reporting structure.
Segment assets do not include cash and bank balances, available for sale investments, other receivables, prepayments and property and equipment. The Company’s liabilities are not segmented.
Segment results do not include selling and marketing expenses, general and administrative expenses, finance cost, and provision for doubtful receivables.
These unallocated assets and liabilities (including the related charges for provision for doubtful debts on note receivables and finance cost) are monitored on a centralized basis.
The segment information are attributable to the Company’s activities and business as approved by the management to be used as a basis for the financial reporting and consistent with the internal reporting process. Information disclosed below is based on current reporting to the chief operating decision maker, which has been identified as chief executive officer. Transactions between the business segments are conducted on an arm’s length basis.
The Company’s segments are classified by product as follows: