Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Vicplas InternationalSGX:569 Beneish M-Score is -2.43 as of Aug. 03, 2026. The stock has 5 warning signs investors should review. Among 762 Medical Devices & Instruments companies, Vicplas International ranks worse than 62.07% on this metric.
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 Vicplas International's Beneish M-Score or its related term are showing as below:
SGX:569'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.19 Med: -2.46 Max: -2.14
Current: -2.43
During the past 13 years, the highest Beneish M-Score of Vicplas International was -2.14. The lowest was -3.19. And the median was -2.46.
Vicplas International Beneish M-Score Related Terms
Vicplas International Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Vicplas International'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.
SGX:569 vs ABT, SYK, MDT: Beneish M-Score Comparison
For the Medical Devices subindustry, Vicplas International'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.
Vicplas International Beneish M-Score vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Vicplas International's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Vicplas International'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 Vicplas International 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 * 1.0001
+
0.528 * 0.9724
+
0.404 * 1.233
+
0.892 * 1.1307
+
0.115 * 0.9167
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0345
+
4.679 * -0.019934
-
0.327 * 1.1215
=
-2.43
* 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))
=
(7 / (7 + 60.576))
/
(7.742 / (7.742 + 60.771))
=
0.103587
/
0.113
=
0.9167
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
=
(-2.357 - 0
-
0.388)
/
137.705
=
-0.019934
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.
Vicplas International has a M-score of -2.43 suggests that the company is unlikely to be a manipulator.
Vicplas International (SGX:569) has a Beneish M-Score of -2.43 as of Aug. 03, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Vicplas International and its competitors. According to the industry distribution chart, Vicplas International ranks #473 out of 762 companies in the Medical Devices & Instruments industry, placing it in the top 62.1%.
Is Vicplas International's Beneish M-Score too high?
Vicplas International's current Beneish M-Score is -2.43. Based on the distribution chart, Vicplas International ranks #473 out of 762 companies in the Medical Devices & Instruments industry, which is below the industry midpoint.
How does Vicplas International's Beneish M-Score compare to ABT and SYK?
According to the Medical Devices & Instruments industry distribution chart, Vicplas International ranks #473 out of 762 companies for Beneish M-Score. This places Vicplas International in the lower half of its industry. 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 Medical Devices & Instruments company?
A good Beneish M-Score depends on the Medical Devices & Instruments 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 Vicplas International and its competitors. Vicplas International's current Beneish M-Score is -2.43. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vicplas International stock overvalued right now?
Based on GuruFocus' analysis, Vicplas International (SGX:569) is currently considered Possible Value Trap. The stock's GF Value™ is S$0.11, compared to a current price of S$0.08 — trading 30% below its estimated fair value. The current Beneish M-Score is -2.43. 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 Vicplas International (SGX:569), the current Beneish M-Score is -2.43 as of Aug. 03, 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.
Vicplas International Ltd is an investment holding company. The company is organized into two main business activities: the Pipes and Pipe Fitting segment and the Medical Devices segment, which is the key revenue driver. Pipes and Pipe Fittings segment engages in the manufacturing and distribution of plastic building products, including uPVC pipes and pipe fittings and electrical conduits. The Medical device segment is involved in the research, design, development, and manufacture of medical devices. The company generates majority of its revenue from medical devices. The company does its sales through geographical segments that include Singapore, Malaysia, Mexico, China, and the United Kingdom, of which the majority of the revenue comes from Singapore.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
SGX:569 has been successfully added to your 
