Suria Capital Holdings Bhd (XKLS:6521) Beneish M-Score : -2.49 (As of Jun. 05, 2024)

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What is Suria Capital Holdings 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.

Good Sign:

Beneish M-Score -2.49 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:6521' s Beneish M-Score Range Over the Past 10 Years
Min: -4.17 Med: -2.45 Max: 3.89
Current: -2.49

During the past 13 years, the highest Beneish M-Score of Suria Capital Holdings Bhd was 3.89. The lowest was -4.17. And the median was -2.45.

Suria Capital Holdings Bhd Beneish M-Score Historical Data

The historical data trend for Suria Capital Holdings 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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Suria Capital Holdings Bhd Beneish M-Score Chart

Suria Capital Holdings Bhd Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-0.86

-2.85

-2.41

-3.20

-2.36

Suria Capital Holdings Bhd Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial															-3.21	-3.21	-3.02	-2.36	-2.49

Competitive Comparison of Suria Capital Holdings Bhd's Beneish M-Score

For the Marine Shipping subindustry, Suria Capital Holdings 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.

Suria Capital Holdings Bhd's Beneish M-Score Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Suria Capital Holdings Bhd's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Suria Capital Holdings Bhd's Beneish M-Score falls into.

Suria Capital Holdings 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 Suria Capital Holdings 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 * 0.9177

0.528 * 1.4985

0.404 * 0.9501

0.892 * 0.9904

0.115 * 0.8279

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0113

4.679 * -0.03019

0.327 * 1.0216

-2.49

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was RM31.7 Mil.
Revenue was 73.829 + 64.305 + 80.338 + 69.765 = RM288.2 Mil.
Gross Profit was 26.404 + 6.183 + 17.891 + 24.993 = RM75.5 Mil.
Total Current Assets was RM359.7 Mil.
Total Assets was RM1,453.4 Mil.
Property, Plant and Equipment(Net PPE) was RM99.6 Mil.
Depreciation, Depletion and Amortization(DDA) was RM70.1 Mil.
Selling, General, & Admin. Expense(SGA) was RM32.1 Mil.
Total Current Liabilities was RM60.8 Mil.
Long-Term Debt & Capital Lease Obligation was RM160.9 Mil.
Net Income was 14.858 + -2.631 + 13.921 + 12.406 = RM38.6 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.0 Mil.
Cash Flow from Operations was 7.198 + 49.076 + 5.713 + 20.445 = RM82.4 Mil.

Total Receivables was RM34.8 Mil.
Revenue was 63.953 + 96.026 + 73.374 + 57.679 = RM291.0 Mil.
Gross Profit was 24.262 + 43.521 + 29.946 + 16.459 = RM114.2 Mil.
Total Current Assets was RM313.5 Mil.
Total Assets was RM1,478.0 Mil.
Property, Plant and Equipment(Net PPE) was RM100.5 Mil.
Depreciation, Depletion and Amortization(DDA) was RM52.2 Mil.
Selling, General, & Admin. Expense(SGA) was RM32.1 Mil.
Total Current Liabilities was RM63.5 Mil.
Long-Term Debt & Capital Lease Obligation was RM157.2 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)
	=	(31.672 / 288.237)	/	(34.847 / 291.032)
	=	0.109882	/	0.119736
	=	0.9177

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)
	=	(114.188 / 291.032)	/	(75.471 / 288.237)
	=	0.392355	/	0.261837
	=	1.4985

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 - (359.702 + 99.621) / 1453.413)	/	(1 - (313.498 + 100.457) / 1477.969)
	=	0.683969	/	0.719916
	=	0.9501

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
	=	288.237	/	291.032
	=	0.9904

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))
	=	(52.2 / (52.2 + 100.457))	/	(70.093 / (70.093 + 99.621))
	=	0.341943	/	0.413007
	=	0.8279

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)
	=	(32.136 / 288.237)	/	(32.084 / 291.032)
	=	0.111492	/	0.110242
	=	1.0113

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)
	=	((160.918 + 60.841) / 1453.413)	/	((157.201 + 63.546) / 1477.969)
	=	0.152578	/	0.149358
	=	1.0216

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
	=	(38.554 - 0	-	82.432)	/	1453.413
	=	-0.03019

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.

Suria Capital Holdings Bhd has a M-score of -2.49 suggests that the company is unlikely to be a manipulator.

Suria Capital Holdings Bhd Beneish M-Score Related Terms

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Suria Capital Holdings Bhd (XKLS:6521) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Suria Capital Holdings Bhd (XKLS:6521) » Definitions » Beneish M-Score

Traded in Other Exchanges

N/A

Address

Off Jalan Tun Fuad Stephen, Unit 3-03 – 3-31, Level 3, JQ Central Coastal Highway, Kota Kinabalu, SBH, MYS, 88400

Website

https://www.suriagroup.com.my

Suria Capital Holdings Bhd is an investment holding company. The company, through its subsidiaries, is engaged in the provision and maintenance of port services and facilities, the regulation and control of the management of ports; provision of project management and technical support services; distribution of port cargo handling equipment and related spare parts, and provision of equipment maintenance services. Its segments include Investment holding; Property development; Port operation; Logistics and bunkering; Contract and engineering, and ferry terminal operations.

Suria Capital Holdings Bhd (XKLS:6521) Headlines

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