Canadian Halal Investor.

TSX Shariah screener · October 2026

Is Asiatel Outsourcing Inc. (ATOI) Halal?

PASS

Asiatel Outsourcing Inc. · TSXV: ATOI · Technology

The short answer

Yes — Asiatel Outsourcing (ATOI) passes this Shariah stock screen. The Philippine-founded business-process outsourcing company (finance and accounting outsourcing, employer-of-record, remote staffing; 500+ workers, 20+ client programs across 8 countries) has no prohibited business lines. Its interest-bearing debt — lease liabilities of C$179,661 plus a C$137,504 related-party loan, C$317,165 in total — is about 5.1% of its ~C$6.2M market cap (49,618,500 shares at C$0.125), below the ~33% ceiling. Interest income of C$6,584 is about 0.13% of six-month revenue (C$5.14M), below the 5% non-compliant income ceiling. No Zoya, Musaffa, or ShariaPortfolio rating was found for this ticker — honestly reported as absent, not invented.

Gate 1 — Business activity: PASS

Asiatel Outsourcing Inc. (TSXV: ATOI), via its operating entity Asiatel Teleservices Inc. (ATI) in the Philippines, provides finance and accounting outsourcing, bookkeeping, financial reporting, payroll support, financial analysis, employer-of-record arrangements, remote staffing, seat leasing, design, web development and digital marketing — per its Q2 2026 interim financial statements (Note 1) and listing materials. It employs 500+ workers in the Philippines and handles 20+ client programs across 8 countries, and began trading on the TSX Venture Exchange on July 14, 2026 via a reverse takeover (formerly New Media Capital 2.0 Inc.). None of the disclosed lines are prohibited lines (no alcohol, gambling, pork, conventional banking/insurance, tobacco, cannabis, weapons, or adult entertainment). Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

At June 30, 2026 the company's interest-bearing debt was C$317,165 — current lease liabilities C$68,223 plus non-current lease liabilities C$111,438 plus a C$137,504 non-current loan payable to a related party (Note 5) — per the Q2 2026 interim statement of financial position. Against a market cap of about C$6.2M (49,618,500 shares at C$0.125, August 31, 2026 per Stockwatch), debt ÷ market cap is about 5.1%, below the ~33% ceiling. Cash and cash equivalents of C$1.09M are about 17.6% of market cap, within the ~33% guideline. Gate 2 passes. Facts only.

Gate 3 — Non-compliant income: PASS

For the six months ended June 30, 2026, Asiatel reported interest income of C$6,584 as a separately disclosed line, against service revenue of C$5,136,082 (+51% year-over-year) — about 0.13% of revenue, below the 5% non-compliant income ceiling. The cash-flow statement confirms C$6,584 of interest received in the half. Gate 3 passes. Facts only.

Key figures used

Frequently asked questions

What does Asiatel Outsourcing do?

Asiatel Outsourcing Inc. (TSXV: ATOI), via its operating entity Asiatel Teleservices Inc. (ATI) in the Philippines, provides finance and accounting outsourcing, bookkeeping, financial reporting, payroll support, financial analysis, employer-of-record arrangements, remote staffing, seat leasing, design, web development and digital marketing. It employs 500+ workers in the Philippines and handles 20+ client programs across 8 countries, and began trading on the TSX Venture Exchange on July 14, 2026 via a reverse takeover (formerly New Media Capital 2.0 Inc.). None of the disclosed lines are prohibited lines (no alcohol, gambling, pork, conventional banking/insurance, tobacco, cannabis, weapons, or adult entertainment), so the business gate passes.

Why does Asiatel Outsourcing pass this Shariah stock screen?

All three gates pass. The business — Philippine business-process outsourcing (finance and accounting outsourcing, employer-of-record, remote staffing) — has no prohibited lines. Interest-bearing debt of C$317,165 (lease liabilities plus a related-party loan) is about 5.1% of its ~C$6.2M market cap, below the ~33% ceiling. Interest income of C$6,584 is about 0.13% of six-month revenue (C$5.14M), below the 5% non-compliant income ceiling. This is a factual screen, not a religious ruling — consult a qualified scholar for personal guidance.

What is Asiatel Outsourcing's interest-bearing debt ratio?

At June 30, 2026 Asiatel's interest-bearing debt was C$317,165 — current lease liabilities C$68,223 plus non-current lease liabilities C$111,438 plus a C$137,504 non-current loan payable to a related party (Note 5) — per the Q2 2026 interim statement of financial position. Against a market capitalization of about C$6.2M (49,618,500 shares at C$0.125, August 31, 2026 per Stockwatch), debt ÷ market cap is about 5.11%, below the ~33% ceiling. Cash of C$1.09M is about 17.6% of market cap, within the ~33% guideline.

What is Asiatel Outsourcing's non-compliant income ratio?

For the six months ended June 30, 2026, Asiatel reported interest income of C$6,584 as a separately disclosed line, against service revenue of C$5,136,082 (+51% year-over-year) — about 0.13% of revenue, well below the 5% non-compliant income limit. The cash-flow statement confirms C$6,584 of interest received in the half. On the reported income-statement basis used here, the income gate passes.

Do Zoya, Musaffa, or ShariaPortfolio cover Asiatel Outsourcing?

No rating or coverage of Asiatel Outsourcing (TSXV: ATOI) was found on Zoya, Musaffa, or ShariaPortfolio — honestly reported as absent, not invented. This page applies the screen directly from the company's filings: condensed interim consolidated financial statements for the six months ended June 30, 2026 (authorized for issue August 31, 2026).

Sources

Screened 2026-10-01 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).