Osk Ventures International Bhd (XKLS:0053) Beneish M-Score : 1734.80 (As of May. 21, 2024)

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What is Osk Ventures International 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 1734.8 higher than -1.78, which implies that the company might have manipulated its financial results.

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

XKLS:0053' s Beneish M-Score Range Over the Past 10 Years
Min: -2.31 Med: 3.93 Max: 3251.15
Current: 1734.8

During the past 13 years, the highest Beneish M-Score of Osk Ventures International Bhd was 3251.15. The lowest was -2.31. And the median was 3.93.

Osk Ventures International Bhd Beneish M-Score Historical Data

The historical data trend for Osk Ventures International 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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Osk Ventures International Bhd Beneish M-Score Chart

Osk Ventures International Bhd Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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4.27

-1.82

2.95

1,734.80

Osk Ventures International 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															2.95	4.45	5.22	2.02	1,734.80

Competitive Comparison of Osk Ventures International Bhd's Beneish M-Score

For the Asset Management subindustry, Osk Ventures International 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.

Osk Ventures International Bhd's Beneish M-Score Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Osk Ventures International Bhd's Beneish M-Score distribution charts can be found below:

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

Osk Ventures International 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 Osk Ventures International 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 * 1904.6186

0.528 * -0.7761

0.404 * 1.0232

0.892 * 0.0173

0.115 * 1.3985

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 67.2066

4.679 * 0.125748

0.327 * 5.5499

1,734.80

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was RM0.40 Mil.
Revenue was 0.6 + 0.826 + 0.295 + 0.041 = RM1.76 Mil.
Gross Profit was 0.913 + 0.101 + -0.429 + -0.674 = RM-0.09 Mil.
Total Current Assets was RM3.33 Mil.
Total Assets was RM258.59 Mil.
Property, Plant and Equipment(Net PPE) was RM0.72 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.27 Mil.
Selling, General, & Admin. Expense(SGA) was RM2.10 Mil.
Total Current Liabilities was RM8.17 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.54 Mil.
Net Income was 2.681 + 5.848 + 11.109 + 4.298 = RM23.94 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.00 Mil.
Cash Flow from Operations was -3.236 + 0.138 + -1.845 + -3.638 = RM-8.58 Mil.

Total Receivables was RM0.01 Mil.
Revenue was 64.925 + 0.325 + 0.335 + 36.506 = RM102.09 Mil.
Gross Profit was 2.148 + -0.255 + -0.434 + 2.543 = RM4.00 Mil.
Total Current Assets was RM8.30 Mil.
Total Assets was RM229.78 Mil.
Property, Plant and Equipment(Net PPE) was RM0.44 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.27 Mil.
Selling, General, & Admin. Expense(SGA) was RM1.81 Mil.
Total Current Liabilities was RM1.22 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.18 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)
	=	(0.396 / 1.762)	/	(0.012 / 102.091)
	=	0.224745	/	0.000118
	=	1904.6186

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)
	=	(4.002 / 102.091)	/	(-0.089 / 1.762)
	=	0.0392	/	-0.050511
	=	-0.7761

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 - (3.327 + 0.721) / 258.589)	/	(1 - (8.299 + 0.437) / 229.778)
	=	0.984346	/	0.961981
	=	1.0232

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
	=	1.762	/	102.091
	=	0.0173

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))
	=	(0.269 / (0.269 + 0.437))	/	(0.27 / (0.27 + 0.721))
	=	0.38102	/	0.272452
	=	1.3985

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)
	=	(2.096 / 1.762)	/	(1.807 / 102.091)
	=	1.189557	/	0.0177
	=	67.2066

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)
	=	((0.536 + 8.171) / 258.589)	/	((0.179 + 1.215) / 229.778)
	=	0.033671	/	0.006067
	=	5.5499

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
	=	(23.936 - 0	-	-8.581)	/	258.589
	=	0.125748

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.

Osk Ventures International Bhd has a M-score of 1,734.80 signals that the company is likely to be a manipulator.

Osk Ventures International Bhd Beneish M-Score Related Terms

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Osk Ventures International Bhd (XKLS:0053) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Osk Ventures International Bhd (XKLS:0053) » Definitions » Beneish M-Score

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Address

Jalan Ampang, Wilayah Persekutuan, 21st Floor, Plaza OSK, Kuala Lumpur, SGR, MYS, 50450

Website

https://www.oskvi.com

Osk Ventures International Bhd is a Malaysia-based investment holding company that provides equity capital solutions. The business activity of the group functions through Public investment, Venture Capital Business, Private Equity Businesses; and Holding Entity segments. It derives the majority of revenue from the Venture Capital Business and Private Equity Businesses segment. Geographically, it derives maximum revenue from Singapore and also has a presence in Singapore, the United States, and Hong Kong.

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