Asia Amalgamated Holdings (PHS:AAA) Beneish M-Score : 0.00 (As of Jun. 18, 2024)

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What is Asia Amalgamated 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.

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

During the past 5 years, the highest Beneish M-Score of Asia Amalgamated Holdings was 0.00. The lowest was 0.00. And the median was 0.00.

Asia Amalgamated Holdings Beneish M-Score Historical Data

The historical data trend for Asia Amalgamated 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.

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Asia Amalgamated Holdings Beneish M-Score Chart

Asia Amalgamated Holdings Annual Data

Trend

Dec07

Dec08

Dec09

Dec10

Dec11

Beneish M-Score

Asia Amalgamated Holdings Quarterly Data
	Dec08	Mar09	Jun09	Sep09	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Mar13	Jun13	Mar14	Jun14
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of Asia Amalgamated Holdings's Beneish M-Score

For the Conglomerates subindustry, Asia Amalgamated 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.

Asia Amalgamated Holdings's Beneish M-Score Distribution in the Conglomerates Industry

For the Conglomerates industry and Industrials sector, Asia Amalgamated Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Asia Amalgamated Holdings's Beneish M-Score falls into.

Asia Amalgamated 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 Asia Amalgamated 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 *

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 (Jun14) TTM:

Last Year (Sep12) TTM:

Total Receivables was ₱0.15 Mil.
Revenue was 0 + 0 + 0 + 0 = ₱0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = ₱0.00 Mil.
Total Current Assets was ₱0.29 Mil.
Total Assets was ₱4.02 Mil.
Property, Plant and Equipment(Net PPE) was ₱0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was ₱0.00 Mil.
Selling, General, & Admin. Expense(SGA) was ₱0.00 Mil.
Total Current Liabilities was ₱24.04 Mil.
Long-Term Debt & Capital Lease Obligation was ₱0.00 Mil.
Net Income was -0.124 + -0.347 + -0.433 + -0.567 = ₱-1.47 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₱0.00 Mil.
Cash Flow from Operations was -0.721 + -0.651 + -1.08 + -0.789 = ₱-3.24 Mil.

Total Receivables was ₱3.55 Mil.
Revenue was 0 + 0 + 0.005 + 0 = ₱0.01 Mil.
Gross Profit was 0 + 0 + 0.005 + 0 = ₱0.01 Mil.
Total Current Assets was ₱3.69 Mil.
Total Assets was ₱3.87 Mil.
Property, Plant and Equipment(Net PPE) was ₱0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was ₱0.00 Mil.
Selling, General, & Admin. Expense(SGA) was ₱0.28 Mil.
Total Current Liabilities was ₱20.89 Mil.
Long-Term Debt & Capital Lease Obligation was ₱0.00 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)
	=	(0.151 / 0)	/	(3.549 / 0.005)
	=		/	709.8
	=

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)
	=	(0.005 / 0.005)	/	(0 / 0)
	=	1	/
	=

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 - (0.292 + 0) / 4.023)	/	(1 - (3.688 + 0) / 3.871)
	=	0.927417	/	0.047275
	=

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
	=	0	/	0.005
	=

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 + 0))	/	(0 / (0 + 0))
	=		/
	=

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)
	=	(0 / 0)	/	(0.28 / 0.005)
	=		/	56
	=

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 + 24.035) / 4.023)	/	((0 + 20.89) / 3.871)
	=	5.974397	/	5.396538
	=

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
	=	(-1.471 - 0	-	-3.241)	/	4.023
	=	0.43997

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.

Asia Amalgamated Holdings Beneish M-Score Related Terms

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Asia Amalgamated Holdings (PHS:AAA) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Conglomerates » Asia Amalgamated Holdings Corp (PHS:AAA) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Uniwide, 1695 Rizal Avenue Extension, Grace Park, Caloocan, PHL

Website

http://www.uni-wide.com

Asia Amalgamated Holdings Corp primary purpose to that of a holding company. It made significant investments in various businesses such as financial and banking services, distribution of household water filtration equipment and industrial waste water treatment, water transport services, and non-life insurance brokerage.