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Dialog Group Bhd (XKLS:7277) Beneish M-Score : -2.11 (As of May. 01, 2024)


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What is Dialog 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.

Good Sign:

Beneish M-Score -2.11 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:7277' s Beneish M-Score Range Over the Past 10 Years
Min: -4.84   Med: -2.73   Max: -1.78
Current: -2.11

During the past 13 years, the highest Beneish M-Score of Dialog Group Bhd was -1.78. The lowest was -4.84. And the median was -2.73.


Dialog Group Bhd Beneish M-Score Historical Data

The historical data trend for Dialog 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.

Dialog Group Bhd Beneish M-Score Chart

Dialog Group Bhd Annual Data
Trend Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.18 -2.82 -2.93 -1.78 -2.11

Dialog Group Bhd Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - -2.11 - -

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

For the Oil & Gas Equipment & Services subindustry, Dialog 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.


Dialog Group Bhd's Beneish M-Score Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Dialog Group Bhd's Beneish M-Score distribution charts can be found below:

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



Dialog 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 Dialog Group Bhd for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 0.8167+0.528 * 1.6562+0.404 * 1.1026+0.892 * 1.2943+0.115 * 0.9651
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0685+4.679 * -0.025737-0.327 * 0.9363
=-2.11

* 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.

This Year (Jun23) TTM:Last Year (Jun22) TTM:
Total Receivables was RM863 Mil.
Revenue was RM3,002 Mil.
Gross Profit was RM257 Mil.
Total Current Assets was RM2,741 Mil.
Total Assets was RM9,312 Mil.
Property, Plant and Equipment(Net PPE) was RM3,436 Mil.
Depreciation, Depletion and Amortization(DDA) was RM255 Mil.
Selling, General, & Admin. Expense(SGA) was RM58 Mil.
Total Current Liabilities was RM1,266 Mil.
Long-Term Debt & Capital Lease Obligation was RM1,881 Mil.
Net Income was RM511 Mil.
Gross Profit was RM0 Mil.
Cash Flow from Operations was RM750 Mil.
Total Receivables was RM817 Mil.
Revenue was RM2,319 Mil.
Gross Profit was RM329 Mil.
Total Current Assets was RM2,796 Mil.
Total Assets was RM8,847 Mil.
Property, Plant and Equipment(Net PPE) was RM3,350 Mil.
Depreciation, Depletion and Amortization(DDA) was RM239 Mil.
Selling, General, & Admin. Expense(SGA) was RM42 Mil.
Total Current Liabilities was RM1,148 Mil.
Long-Term Debt & Capital Lease Obligation was RM2,045 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)
=(863.139 / 3001.534) / (816.576 / 2319.025)
=0.287566 / 0.35212
=0.8167

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)
=(329.476 / 2319.025) / (257.478 / 3001.534)
=0.142075 / 0.085782
=1.6562

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 - (2741.228 + 3435.942) / 9311.636) / (1 - (2795.925 + 3350.22) / 8847.055)
=0.336618 / 0.305289
=1.1026

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
=3001.534 / 2319.025
=1.2943

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))
=(239.246 / (239.246 + 3350.22)) / (254.908 / (254.908 + 3435.942))
=0.066652 / 0.069065
=0.9651

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)
=(58.033 / 3001.534) / (41.963 / 2319.025)
=0.019334 / 0.018095
=1.0685

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)
=((1880.624 + 1266.072) / 9311.636) / ((2044.723 + 1148.395) / 8847.055)
=0.337932 / 0.360924
=0.9363

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
=(510.522 - 0 - 750.177) / 9311.636
=-0.025737

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.

Dialog Group Bhd has a M-score of -2.11 suggests that the company is unlikely to be a manipulator.


Dialog Group Bhd Beneish M-Score Related Terms

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Dialog Group Bhd (XKLS:7277) Business Description

Traded in Other Exchanges
N/A
Address
Number 15, Jalan PJU 7/5, Dialog Tower, Mutiara Damansara, Petaling Jaya, SGR, MYS, 47810
Dialog Group Bhd provides technical services to the upstream, midstream, and downstream sectors in the oil, gas, and petrochemical industry. Its comprehensive range of services includes logistics, engineering and construction, fabrication, and maintenance. Products range from pumps, pipe support, and diagnostic services for upstream operations to multi-purpose dispensers and petrol retail and convenience stores. Dialog Group works on multiple phases of the oil and gas value chain and has several technology partners to enhance solutions. The company's customers are primarily multinational oil majors, national oil companies, and multinational engineering and service providers. It has offices in multiple regions of the world but generates the majority of its revenue in Southeast Asia.

Dialog Group Bhd (XKLS:7277) Headlines

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