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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 -3.04 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Kwan Yong Holdings's Beneish M-Score or its related term are showing as below:
HKSE:09998'
s Beneish M-Score Range Over the Past 10 Years
Min: -6.44 Med: -2.64 Max: 0.62
Current: -3.04
During the past 9 years, the highest Beneish M-Score of Kwan Yong Holdings was 0.62. The lowest was -6.44. And the median was -2.64.
Kwan Yong Holdings Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Kwan Yong 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.
HKSE:09998 vs PWR, FIX, EME: Beneish M-Score Comparison
For the Engineering & Construction subindustry, Kwan Yong 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.
Kwan Yong Holdings Beneish M-Score vs Construction Industry
For the Construction industry and Industrials sector, Kwan Yong Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Kwan Yong Holdings's Beneish M-Score falls into.
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 Kwan Yong Holdings 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 * 1.3694
+
0.528 * 0.5632
+
0.404 * 0.3102
+
0.892 * 1.8988
+
0.115 * 0.9268
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.674
+
4.679 * -0.253916
-
0.327 * 1.1612
=
-3.04
* 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.
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.
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))
=
(13.699 / (13.699 + 107.07))
/
(15.018 / (15.018 + 107.69))
=
0.113431
/
0.122388
=
0.9268
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
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
=
(78.162 - 0
-
350.253)
/
1071.577
=
-0.253916
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.
Kwan Yong Holdings has a M-score of -3.04 suggests that the company is unlikely to be a manipulator.
Kwan Yong Holdings (HKSE:09998) has a Beneish M-Score of -3.04 as of Aug. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Kwan Yong Holdings and its competitors. According to the industry distribution chart, Kwan Yong Holdings ranks #272 out of 1705 companies in the Construction industry, placing it in the top 16%.
Is Kwan Yong Holdings' Beneish M-Score too high?
Kwan Yong Holdings' current Beneish M-Score is -3.04. Based on the distribution chart, Kwan Yong Holdings ranks #272 out of 1705 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, Kwan Yong Holdings has a GF Score™ of 63/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Kwan Yong Holdings' Beneish M-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Kwan Yong Holdings ranks #272 out of 1705 companies for Beneish M-Score. This places Kwan Yong Holdings in the top 16% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Construction company?
A good Beneish M-Score depends on the Construction industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Kwan Yong Holdings and its competitors. Kwan Yong Holdings's current Beneish M-Score is -3.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kwan Yong Holdings stock overvalued right now?
Based on GuruFocus' analysis, Kwan Yong Holdings (HKSE:09998) is currently considered Modestly Overvalued. The stock's GF Value™ is HK$0.36, compared to a current price of HK$0.43 — trading 19.4% above its estimated fair value. The current Beneish M-Score is -3.04. Kwan Yong Holdings' overall GF Score™ is 63/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Kwan Yong Holdings (HKSE:09998), the current Beneish M-Score is -3.04 as of Aug. 26, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Kwan Yong Holdings (HKSE:09998) Overvalued in 2026?
Based on GuruFocus' analysis, Kwan Yong Holdings stock appears to be overvalued.
The current stock price of HK$0.43 is trading 19.4% above its estimated GF Value™ of HK$0.36.
GuruFocus considers Kwan Yong Holdings to be Modestly Overvalued.
Key valuation signals for HKSE:09998:
Beneish M-Score: -3.04
GF Value™: HK$0.36 vs. price of HK$0.43 (19.4% above fair value)
No single metric tells the full story. See the HKSE:09998 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kwan Yong Holdings Ltd is engaged in the provision of building construction works in Singapore. The company constructs various types of buildings, including institutional buildings such as educational institutions, hospitals and nursing homes; commercial buildings such as office buildings and restaurants; and industrial and residential buildings. The projects of the company include Childcare at Rivervale, Childcare at Punggol Drive, Alexandra Primary School, Ngee Ann Polytechnic, and others. It has three segments: Construction, Property, and Corporate. The majority of its revenue is generated from the Construction segment, which provides general building and construction services. Geographically, the company derives revenue from its customers based in Singapore.
63GF Score
Get the complete analysis for HKSE:09998
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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