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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 -2.18 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Resources Global Development's Beneish M-Score or its related term are showing as below:
SGX:V7R'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.21 Med: -2.11 Max: -0.17
Current: -2.18
During the past 10 years, the highest Beneish M-Score of Resources Global Development was -0.17. The lowest was -3.21. And the median was -2.11.
* 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.
Resources Global Development Beneish M-Score Chart
Resources Global Development Beneish M-Score Competitor Comparison
For the Marine Shipping subindustry, Resources Global Development'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.
Resources Global Development Beneish M-Score vs Transportation Industry
For the Transportation industry and Industrials sector, Resources Global Development's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Resources Global Development's Beneish M-Score falls into.
Resources Global Development 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 Resources Global Development 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 * 0.4385
+
0.528 * 1.5004
+
0.404 * 1.7837
+
0.892 * 1.5
+
0.115 * 0.8163
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 2.1089
+
4.679 * -0.017285
-
0.327 * 0.74
=
-2.18
* 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))
=
(8.297 / (8.297 + 145.059))
/
(10.983 / (10.983 + 154.729))
=
0.054103
/
0.066278
=
0.8163
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
=
(24.829 - 0
-
29.735)
/
283.824
=
-0.017285
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.
Resources Global Development has a M-score of -2.18 suggests that the company is unlikely to be a manipulator.
Resources Global Development (SGX:V7R) has a Beneish M-Score of -2.18 as of Aug. 02, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Resources Global Development and its competitors. According to the industry distribution chart, Resources Global Development ranks #720 out of 967 companies in the Transportation industry, placing it in the top 74.5%.
Is Resources Global Development's Beneish M-Score too high?
Resources Global Development's current Beneish M-Score is -2.18. Based on the distribution chart, Resources Global Development ranks #720 out of 967 companies in the Transportation industry, which is below the industry midpoint. Overall, Resources Global Development has a GF Score™ of 58/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Resources Global Development's Beneish M-Score compare to competitors?
According to the Transportation industry distribution chart, Resources Global Development ranks #720 out of 967 companies for Beneish M-Score. This places Resources Global Development 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 Transportation company?
A good Beneish M-Score depends on the Transportation 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 Resources Global Development and its competitors. Resources Global Development's current Beneish M-Score is -2.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Resources Global Development stock overvalued right now?
Based on GuruFocus' analysis, Resources Global Development (SGX:V7R) is currently considered Fairly Valued. The stock's GF Value™ is S$0.21, compared to a current price of S$0.23 — trading 7.1% above its estimated fair value. The current Beneish M-Score is -2.18. Resources Global Development's overall GF Score™ is 58/100 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 Resources Global Development (SGX:V7R), the current Beneish M-Score is -2.18 as of Aug. 02, 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 Resources Global Development (SGX:V7R) Overvalued in 2026?
Based on GuruFocus' analysis, Resources Global Development stock appears to be overvalued.
The current stock price of S$0.23 is trading 7.1% above its estimated GF Value™ of S$0.21.
GuruFocus considers Resources Global Development to be Fairly Valued.
Key valuation signals for SGX:V7R:
Beneish M-Score: -2.18
GF Value™: S$0.21 vs. price of S$0.23 (7.1% above fair value)
No single metric tells the full story. See the SGX:V7R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Resources Global Development Ltd, through its subsidiaries, is mainly engaged in coal mining and providing shipping services in Indonesia. The Group's Shipping Services business covers mainly domestic shipping routes from South Kalimantan to various regions within Indonesia, offering transshipment and chartering services. In the Coal Mining business, the Group holds interests in five coal mines in Central Kalimantan, namely PT Persada Kapuas Prima, PT Pesona Bara Cakrawala, PT Cakrawala Bara Persada, PT Pasir Bara Prima, and PT TRIOP. Its operating business segments are: Shipping services, which derive maximum revenue, Mining Business, and Construction Services. Geographically, the Group derives maximum revenue from Indonesia, and the rest from the People's Republic of China and Singapore.
58GF Score
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