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MIC realizes net loss of $0.06 million in 9M 2014

2014-11-02

According to Al-Mashriq Insurance Company MIC’s condensed data for the first nine months of the year, net loss reached (62,089) USD, compared with a net profit after taxes of 154,897 USD from the first nine months of 2013. Total assets of the company reached 26,170,145 USD as of September 30th, 2014, compared to total assets of 18,563,610 USD as of December 31st, 2013, a net increase of 41.0%. Total liabilities of the company reached 20,472,771 USD as of September 30th, 2014, compared to total liabilities of 17,579,958 USD as of December 31st, 2013, a net increase of 16.5%. Net ownership equity of the company reached 5,697,374 USD (including 4,521,159 USD in Non-controlling interest) as of September 30th, 2014, compared with a net ownership equity of 983,652 USD as of December 31st, 2013, a net increase of 479.2% in the first nine months.  MIC has been suspended from trading since 18/05/2011.

 


 

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