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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 -2.4 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Sing Investments & Finance's Beneish M-Score or its related term are showing as below:
SGX:S35'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.89 Med: -2.42 Max: -0.89
Current: -2.4
During the past 13 years, the highest Beneish M-Score of Sing Investments & Finance was -0.89. The lowest was -2.89. And the median was -2.42.
* 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.
For the Credit Services subindustry, Sing Investments & Finance'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.
Sing Investments & Finance Beneish M-Score vs Credit Services Industry
For the Credit Services industry and Financial Services sector, Sing Investments & Finance's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Sing Investments & Finance's Beneish M-Score falls into.
Sing Investments & Finance 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 Sing Investments & Finance 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 * 0.9059
+
0.528 * 1.0126
+
0.404 * 1.0992
+
0.892 * 0.9817
+
0.115 * 1.0762
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0813
+
4.679 * 0.028252
-
0.327 * 0.9824
=
-2.40
* 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))
=
(2.35 / (2.35 + 19.886))
/
(2.077 / (2.077 + 19.074))
=
0.105684
/
0.098199
=
1.0762
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
=
(42.323 - 0
-
-56.441)
/
3495.765
=
0.028252
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.
Sing Investments & Finance has a M-score of -2.40 suggests that the company is unlikely to be a manipulator.
Sing Investments & Finance (SGX:S35) has a Beneish M-Score of -2.40 as of Aug. 05, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Sing Investments & Finance and its competitors. According to the industry distribution chart, Sing Investments & Finance ranks #187 out of 487 companies in the Credit Services industry, placing it in the top 38.4%.
Is Sing Investments & Finance's Beneish M-Score too high?
Sing Investments & Finance's current Beneish M-Score is -2.40. Based on the distribution chart, Sing Investments & Finance ranks #187 out of 487 companies in the Credit Services industry, which is above the industry midpoint. Overall, Sing Investments & Finance has a GF Score™ of 86/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Sing Investments & Finance's Beneish M-Score compare to V and MA?
According to the Credit Services industry distribution chart, Sing Investments & Finance ranks #187 out of 487 companies for Beneish M-Score. This puts Sing Investments & Finance in the upper 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 Credit Services company?
A good Beneish M-Score depends on the Credit Services 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 Sing Investments & Finance and its competitors. Sing Investments & Finance's current Beneish M-Score is -2.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sing Investments & Finance stock overvalued right now?
Based on GuruFocus' analysis, Sing Investments & Finance (SGX:S35) is currently considered Significantly Overvalued. The stock's GF Value™ is S$1.04, compared to a current price of S$1.58 — trading 51.9% above its estimated fair value. The current Beneish M-Score is -2.40. Sing Investments & Finance's overall GF Score™ is 86/100 with 3 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 Sing Investments & Finance (SGX:S35), the current Beneish M-Score is -2.40 as of Aug. 05, 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 Sing Investments & Finance (SGX:S35) Overvalued in 2026?
Based on GuruFocus' analysis, Sing Investments & Finance stock appears to be overvalued.
The current stock price of S$1.58 is trading 51.9% above its estimated GF Value™ of S$1.04.
GuruFocus considers Sing Investments & Finance to be Significantly Overvalued.
Key valuation signals for SGX:S35:
Beneish M-Score: -2.40
GF Value™: S$1.04 vs. price of S$1.58 (51.9% above fair value)
No single metric tells the full story. See the SGX:S35 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Sing Investments & Finance Ltd offers a range of financial products and services for both individuals and corporate/SME customers in Singapore. Its deposit products include business current, conveyancing, savings, GIRO saver, GoSavers, GoVault, and fixed deposit accounts. Personal financing covers housing and HDB loans, car loans, share loans, and commercial property loans, supported by personal e-services through SIF Mobile and SIF Online. For corporate and SME clients, the company provides financing solutions such as commercial property, land and construction, machinery, shipping, and floor stock loans, along with government-backed SME loans, invoice factoring, and unsecured business loans, supported by SIF BIZ Mobile and SIF BIZ Online platforms.
86GF Score
Get the complete analysis for SGX:S35
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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