Monday, July 19, 2010

Aayan Leasing and Investment - 2009 Losses of KD73.2 Million


Aayan Leasing and Investment has reported its 2009 earnings and they are dismal:
  1. A net loss for the year of KD77,175,466.
  2. Accumulated losses of KD67,505,320
  3. Current Liabilities exceed Current Assets by KD225,892,585
  4. Default on KD78,065,913
  5. Breach of Article 171 of the Commercial Companies Law = Loss of more than 75% of legal capital.
Not a pretty picture, but I suspect still prettier than what happens to creditors and shareholders.

2 comments:

Laocowboy2 said...

Time for a decent burial perhaps?

Abu 'Arqala said...

I believe that Islamic practice is to bury the deceased rather quickly after the demise.