Cool Link (Holdings) (HKSE:08491) Beneish M-Score : -2.43 (As of Mar. 24, 2025)

View and export this data going back to 2017. Start your Free Trial

What is Cool Link (Holdings) 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 -2.43 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Cool Link (Holdings)'s Beneish M-Score or its related term are showing as below:

HKSE:08491' s Beneish M-Score Range Over the Past 10 Years
Min: -4.05 Med: -2.43 Max: -0.84
Current: -2.43

During the past 9 years, the highest Beneish M-Score of Cool Link (Holdings) was -0.84. The lowest was -4.05. And the median was -2.43.

Cool Link (Holdings) Beneish M-Score Historical Data

The historical data trend for Cool Link (Holdings)'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.

Cool Link (Holdings) Beneish M-Score Chart

Cool Link (Holdings) Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

Get a 7-Day Free Trial

-2.64

-2.58

-1.77

-4.05

-2.43

Cool Link (Holdings) Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Jun24
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-2.43	-

Competitive Comparison of Cool Link (Holdings)'s Beneish M-Score

For the Food Distribution subindustry, Cool Link (Holdings)'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.

Cool Link (Holdings)'s Beneish M-Score Distribution in the Retail - Defensive Industry

For the Retail - Defensive industry and Consumer Defensive sector, Cool Link (Holdings)'s Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Cool Link (Holdings)'s Beneish M-Score falls into.

Cool Link (Holdings) 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 Cool Link (Holdings) 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 * 1.0902

0.528 * 1.0154

0.404 * 1.511

0.892 * 0.9027

0.115 * 1.5172

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9723

4.679 * -0.049922

0.327 * 0.9757

-2.43

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was HK$46.9 Mil.
Revenue was HK$180.4 Mil.
Gross Profit was HK$49.9 Mil.
Total Current Assets was HK$82.2 Mil.
Total Assets was HK$187.4 Mil.
Property, Plant and Equipment(Net PPE) was HK$60.0 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$7.2 Mil.
Selling, General, & Admin. Expense(SGA) was HK$53.2 Mil.
Total Current Liabilities was HK$64.5 Mil.
Long-Term Debt & Capital Lease Obligation was HK$41.2 Mil.
Net Income was HK$-6.3 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$3.1 Mil.

Total Receivables was HK$47.6 Mil.
Revenue was HK$199.8 Mil.
Gross Profit was HK$56.2 Mil.
Total Current Assets was HK$94.3 Mil.
Total Assets was HK$183.7 Mil.
Property, Plant and Equipment(Net PPE) was HK$60.1 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$11.7 Mil.
Selling, General, & Admin. Expense(SGA) was HK$60.6 Mil.
Total Current Liabilities was HK$62.9 Mil.
Long-Term Debt & Capital Lease Obligation was HK$43.4 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)
	=	(46.855 / 180.368)	/	(47.612 / 199.813)
	=	0.259774	/	0.238283
	=	1.0902

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)
	=	(56.17 / 199.813)	/	(49.933 / 180.368)
	=	0.281113	/	0.27684
	=	1.0154

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 - (82.225 + 60.017) / 187.433)	/	(1 - (94.314 + 60.087) / 183.715)
	=	0.241105	/	0.159562
	=	1.511

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
	=	180.368	/	199.813
	=	0.9027

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))
	=	(11.72 / (11.72 + 60.087))	/	(7.235 / (7.235 + 60.017))
	=	0.163215	/	0.10758
	=	1.5172

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)
	=	(53.199 / 180.368)	/	(60.611 / 199.813)
	=	0.294947	/	0.303339
	=	0.9723

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)
	=	((41.245 + 64.543) / 187.433)	/	((43.402 + 62.868) / 183.715)
	=	0.564404	/	0.57845
	=	0.9757

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
	=	(-6.279 - 0	-	3.078)	/	187.433
	=	-0.049922

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.

Cool Link (Holdings) has a M-score of -2.43 suggests that the company is unlikely to be a manipulator.

Cool Link (Holdings) Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Cool Link (Holdings)'s Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Cool Link (Holdings) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Retail - Defensive » Cool Link (Holdings) Ltd (HKSE:08491) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

No. 33 Chin Bee Crescent, Singapore, SGP, 619901

Website

https://www.coollink.com.sg

Cool Link (Holdings) Ltd is principally engaged in the food supplies business in Singapore. It supplies food products to ship chandlers, retailers, and customers who are in the food service industry. It supplies Fresh and UHT Milk, ICE Creams, Yogurt, Cheese, FRruit Juices, and Pure Drinking Water. It operates in one segment food and healthcare supplies. business.

Executives

Guo Guixian	2101 Beneficial owner
Zumegnsi Technology Group Limited	2101 Beneficial owner
Elephant International Holdings Group Limited	2101 Beneficial owner
Wu Hui	2101 Beneficial owner
Tian Yi	2101 Beneficial owner
Liu Shengnan	2101 Beneficial owner
Tan Seow Gee	2101 Beneficial owner
Gay Teo Siong	2101 Beneficial owner
Yuen Meta (international) Securities Limited	2301 Trustee
Yeo Poh Choo	2101 Beneficial owner
Excellent Success Investments Limited	2301 Trustee
Roma Group Limited	2201 Interest of corporation controlled by you
Yaneza Lana	2101 Beneficial owner
Wei Guochun	2101 Beneficial owner
Meng Jintao	2101 Beneficial owner

Cool Link (Holdings) Headlines

No Headlines