M N C Wireless Bhd (XKLS:0103) Beneish M-Score : 1.68 (As of May. 14, 2024)

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What is M N C Wireless Bhd Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Warning Sign:

Beneish M-Score 1.68 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for M N C Wireless Bhd's Beneish M-Score or its related term are showing as below:

XKLS:0103' s Beneish M-Score Range Over the Past 10 Years
Min: -4.78 Med: -1.26 Max: 12.19
Current: 1.68

During the past 13 years, the highest Beneish M-Score of M N C Wireless Bhd was 12.19. The lowest was -4.78. And the median was -1.26.

M N C Wireless Bhd Beneish M-Score Historical Data

The historical data trend for M N C Wireless Bhd's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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M N C Wireless Bhd Beneish M-Score Chart

M N C Wireless Bhd Annual Data

Trend

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Apr20

Apr21

Apr22

Apr23

Beneish M-Score

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12.19

-2.92

-0.47

-4.78

1.68

M N C Wireless Bhd Quarterly Data
	Mar19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Jan21	Apr21	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23	Jan24
Beneish M-Score	Get a 7-Day Free Trial															-	1.68	-	-	-

Competitive Comparison of M N C Wireless Bhd's Beneish M-Score

For the Telecom Services subindustry, M N C Wireless Bhd's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

M N C Wireless Bhd's Beneish M-Score Distribution in the Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, M N C Wireless Bhd's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where M N C Wireless Bhd's Beneish M-Score falls into.

M N C Wireless Bhd Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of M N C Wireless Bhd for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 4.4004

0.528 * 1.1413

0.404 * 2.4492

0.892 * 0.8277

0.115 * 0.9717

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.5094

4.679 * 0.092566

0.327 * 0.981

1.68

This Year (Apr23) TTM:

Last Year (Apr22) TTM:

Total Receivables was RM15.72 Mil.
Revenue was RM12.44 Mil.
Gross Profit was RM1.74 Mil.
Total Current Assets was RM61.69 Mil.
Total Assets was RM87.81 Mil.
Property, Plant and Equipment(Net PPE) was RM8.63 Mil.
Depreciation, Depletion and Amortization(DDA) was RM3.30 Mil.
Selling, General, & Admin. Expense(SGA) was RM9.08 Mil.
Total Current Liabilities was RM8.78 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.08 Mil.
Net Income was RM-6.65 Mil.
Gross Profit was RM0.00 Mil.
Cash Flow from Operations was RM-14.77 Mil.

Total Receivables was RM4.32 Mil.
Revenue was RM15.03 Mil.
Gross Profit was RM2.40 Mil.
Total Current Assets was RM78.66 Mil.
Total Assets was RM95.44 Mil.
Property, Plant and Equipment(Net PPE) was RM9.02 Mil.
Depreciation, Depletion and Amortization(DDA) was RM3.31 Mil.
Selling, General, & Admin. Expense(SGA) was RM21.53 Mil.
Total Current Liabilities was RM9.45 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.37 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(15.723 / 12.436)	/	(4.317 / 15.025)
	=	1.264313	/	0.287321
	=	4.4004

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(2.398 / 15.025)	/	(1.739 / 12.436)
	=	0.159601	/	0.139836
	=	1.1413

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (61.69 + 8.634) / 87.808)	/	(1 - (78.661 + 9.017) / 95.437)
	=	0.199116	/	0.0813
	=	2.4492

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	12.436	/	15.025
	=	0.8277

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(3.308 / (3.308 + 9.017))	/	(3.295 / (3.295 + 8.634))
	=	0.268398	/	0.276218
	=	0.9717

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(9.077 / 12.436)	/	(21.528 / 15.025)
	=	0.729897	/	1.432812
	=	0.5094

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((0.084 + 8.78) / 87.808)	/	((0.369 + 9.452) / 95.437)
	=	0.100948	/	0.102906
	=	0.981

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(-6.645 - 0	-	-14.773)	/	87.808
	=	0.092566

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

M N C Wireless Bhd has a M-score of 1.68 signals that the company is likely to be a manipulator.

M N C Wireless Bhd Beneish M-Score Related Terms

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M N C Wireless Bhd (XKLS:0103) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Telecommunication Services » M N C Wireless Bhd (XKLS:0103) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

0103PA.PFD:Malaysia

Address

100-3.011, Jaya One, Number 72A, Jalan Profesor Diraja Ungku Aziz, 129 Offices, Petaling Jaya, SGR, MYS, 46200

Website

https://www.mnc.com.my

M N C Wireless Bhd operates in the telecom industry. Its business operates through various segments that are Mobile Applications, which provide mobile application platforms for short message services (SMS) to mobile phone users; and Wireless and Multimedia Related Services, which are involved in consultations, sales, marketing, and implementation of m-business solutions, management of content resources business, and other related multimedia services.

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