Cuscapi Bhd (XKLS:0051) Beneish M-Score : 0.00 (As of May. 25, 2024)

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What is Cuscapi 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.

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

During the past 13 years, the highest Beneish M-Score of Cuscapi Bhd was -1.63. The lowest was -9.64. And the median was -4.10.

Cuscapi Bhd Beneish M-Score Historical Data

The historical data trend for Cuscapi 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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Cuscapi Bhd Beneish M-Score Chart

Cuscapi Bhd Annual Data

Trend

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Jun20

Jun21

Beneish M-Score

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-4.74

-3.06

Cuscapi Bhd Quarterly Data
	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Sep23
Beneish M-Score	Get a 7-Day Free Trial															-4.10	-	-	-	-

Competitive Comparison of Cuscapi Bhd's Beneish M-Score

For the Software - Application subindustry, Cuscapi 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.

Cuscapi Bhd's Beneish M-Score Distribution in the Software Industry

For the Software industry and Technology sector, Cuscapi Bhd's Beneish M-Score distribution charts can be found below:

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

Cuscapi 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 Cuscapi 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 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Jun21) TTM:

Last Year (Jun20) TTM:

Total Receivables was RM3.73 Mil.
Revenue was RM10.00 Mil.
Gross Profit was RM-3.88 Mil.
Total Current Assets was RM36.25 Mil.
Total Assets was RM69.79 Mil.
Property, Plant and Equipment(Net PPE) was RM4.40 Mil.
Depreciation, Depletion and Amortization(DDA) was RM6.15 Mil.
Selling, General, & Admin. Expense(SGA) was RM9.96 Mil.
Total Current Liabilities was RM30.65 Mil.
Long-Term Debt & Capital Lease Obligation was RM1.67 Mil.
Net Income was RM-15.40 Mil.
Gross Profit was RM0.00 Mil.
Cash Flow from Operations was RM-7.43 Mil.

Total Receivables was RM18.43 Mil.
Revenue was RM0.00 Mil.
Gross Profit was RM0.00 Mil.
Total Current Assets was RM38.97 Mil.
Total Assets was RM81.61 Mil.
Property, Plant and Equipment(Net PPE) was RM6.70 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.00 Mil.
Selling, General, & Admin. Expense(SGA) was RM0.00 Mil.
Total Current Liabilities was RM27.14 Mil.
Long-Term Debt & Capital Lease Obligation was RM2.64 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)
	=	(3.732 / 10.003)	/	(18.433 / 0)
	=	0.373088	/
	=

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)
	=	(0 / 0)	/	(-3.876 / 10.003)
	=		/	-0.387484
	=

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 - (36.248 + 4.402) / 69.793)	/	(1 - (38.972 + 6.7) / 81.605)
	=	0.417563	/	0.440328
	=

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
	=	10.003	/	0
	=

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))
	=	(0 / (0 + 6.7))	/	(6.149 / (6.149 + 4.402))
	=	0	/	0.582788
	=

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)
	=	(9.962 / 10.003)	/	(0 / 0)
	=	0.995901	/
	=

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)
	=	((1.671 + 30.654) / 69.793)	/	((2.637 + 27.144) / 81.605)
	=	0.463155	/	0.364941
	=

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
	=	(-15.397 - 0	-	-7.425)	/	69.793
	=	-0.114223

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.

Cuscapi Bhd Beneish M-Score Related Terms

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Cuscapi Bhd (XKLS:0051) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Cuscapi Bhd (XKLS:0051) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

No. 8, Jalan Damansara, Level 27 & 28, Block N, Empire City Damansara, PJU 8, Petaling Jaya, SGR, MYS, 47820

Website

https://www.cuscapi.com

Cuscapi Bhd is an investment holding company engaged in the provision of restaurant management solutions and offers a comprehensive range of integrated solutions for the industry. It offers business management solutions, information technology security solutions, consulting services and contact centre outsourcing services for businesses across various industries, including retail, hospitality, and automotive. The company's segments include geographic locations such as Malaysia, South East Asia and the People's Republic of China, and business units, such as Operational Cost Centre and Group Corporate. It derives a majority of revenue from the Malaysia region.

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