Sunview Group Bhd (XKLS:0262) Beneish M-Score : 0.21 (As of Jun. 04, 2024)

View and export this data going back to 2022. Start your Free Trial

What is Sunview Group 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 0.21 higher than -1.78, which implies that the company might have manipulated its financial results.

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

XKLS:0262' s Beneish M-Score Range Over the Past 10 Years
Min: 0.21 Med: 0.21 Max: 0.21
Current: 0.21

During the past 5 years, the highest Beneish M-Score of Sunview Group Bhd was 0.21. The lowest was 0.21. And the median was 0.21.

Sunview Group Bhd Beneish M-Score Historical Data

The historical data trend for Sunview Group 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.

* Premium members only.

Sunview Group Bhd Beneish M-Score Chart

Sunview Group Bhd Annual Data

Trend

Mar19

Mar20

Mar21

Mar22

Mar23

Beneish M-Score

Sunview Group Bhd Quarterly Data
	Mar19	Mar20	Mar21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score	Get a 7-Day Free Trial						-	-	-	-	0.21

Competitive Comparison of Sunview Group Bhd's Beneish M-Score

For the Utilities - Renewable subindustry, Sunview Group 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.

Sunview Group Bhd's Beneish M-Score Distribution in the Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Sunview Group Bhd's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Sunview Group Bhd's Beneish M-Score falls into.

Sunview Group 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 Sunview Group 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 * 0.9897

0.528 * 1.7032

0.404 * 1.0832

0.892 * 2.4224

0.115 * 0.6267

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.4261

4.679 * 0.229866

0.327 * 1.3137

0.21

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was RM203.3 Mil.
Revenue was 49.69 + 204.322 + 108.723 + 139.615 = RM502.4 Mil.
Gross Profit was 7.694 + 8.136 + 8.459 + 11.523 = RM35.8 Mil.
Total Current Assets was RM250.4 Mil.
Total Assets was RM322.0 Mil.
Property, Plant and Equipment(Net PPE) was RM41.2 Mil.
Depreciation, Depletion and Amortization(DDA) was RM3.7 Mil.
Selling, General, & Admin. Expense(SGA) was RM13.1 Mil.
Total Current Liabilities was RM176.9 Mil.
Long-Term Debt & Capital Lease Obligation was RM36.2 Mil.
Net Income was 1.535 + 1.44 + 1.986 + 5.647 = RM10.6 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.0 Mil.
Cash Flow from Operations was -32.014 + -34.516 + 3 + 0.114 = RM-63.4 Mil.

Total Receivables was RM84.8 Mil.
Revenue was 96.931 + 78.946 + 31.501 + 0 = RM207.4 Mil.
Gross Profit was 10.958 + 8.967 + 5.254 + 0 = RM25.2 Mil.
Total Current Assets was RM140.9 Mil.
Total Assets was RM198.2 Mil.
Property, Plant and Equipment(Net PPE) was RM40.0 Mil.
Depreciation, Depletion and Amortization(DDA) was RM2.2 Mil.
Selling, General, & Admin. Expense(SGA) was RM12.7 Mil.
Total Current Liabilities was RM69.0 Mil.
Long-Term Debt & Capital Lease Obligation was RM30.9 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)
	=	(203.324 / 502.35)	/	(84.808 / 207.378)
	=	0.404746	/	0.408954
	=	0.9897

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)
	=	(25.179 / 207.378)	/	(35.812 / 502.35)
	=	0.121416	/	0.071289
	=	1.7032

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 - (250.437 + 41.229) / 322.031)	/	(1 - (140.944 + 40.014) / 198.213)
	=	0.094292	/	0.087053
	=	1.0832

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
	=	502.35	/	207.378
	=	2.4224

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))
	=	(2.202 / (2.202 + 40.014))	/	(3.743 / (3.743 + 41.229))
	=	0.05216	/	0.08323
	=	0.6267

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)
	=	(13.136 / 502.35)	/	(12.726 / 207.378)
	=	0.026149	/	0.061366
	=	0.4261

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)
	=	((36.222 + 176.937) / 322.031)	/	((30.888 + 68.986) / 198.213)
	=	0.661921	/	0.503872
	=	1.3137

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
	=	(10.608 - 0	-	-63.416)	/	322.031
	=	0.229866

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.

Sunview Group Bhd has a M-score of 0.21 signals that the company is likely to be a manipulator.

Sunview Group Bhd Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Sunview Group Bhd's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Sunview Group Bhd (XKLS:0262) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Independent Power Producers » Sunview Group Bhd (XKLS:0262) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

No.5, Jln Prof Khoo Kay Kim, 01-09, 9th Floor, Menara Symphony, Seksyen 13, Petaling Jaya, SGR, MYS, 46200

Website

https://www.sunview.com.my

Sunview Group Bhd is Investment holding company engaged in clean energy service provider in Malaysia. It operates in two segments the Provision of products and services related to renewable energy provides EPCC, construction, installation, associate service, and products of solar PV facilities. and Power generation provides Solar power generation and supply. It generates the majority of its revenue from the Provision of products and services related to renewable energy.

Sunview Group Bhd (XKLS:0262) Headlines

No Headlines