Rekatech Capital Bhd (XKLS:0081) Beneish M-Score: -3.68 (As of Jun. 26, 2026)


What is Rekatech Capital Bhd Beneish M-Score?

Rekatech Capital Bhd XKLS:0081 Beneish M-Score is -3.68 as of Jun. 26, 2026. The stock has 1 warning sign investors should review. Among 1,704 Construction companies, Rekatech Capital Bhd ranks better than 93.49% 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 -3.68 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Rekatech Capital Bhd's Beneish M-Score or its related term are showing as below:

XKLS:0081' s Beneish M-Score Range Over the Past 10 Years
Min: -5.24   Med: -2.53   Max: 0.53
Current: -3.68

During the past 13 years, the highest Beneish M-Score of Rekatech Capital Bhd was 0.53. The lowest was -5.24. And the median was -2.53.

Rekatech Capital Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Rekatech Capital Bhd'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.

Rekatech Capital Bhd Beneish M-Score Chart

Rekatech Capital Bhd Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.53 -1.88 -5.24 -3.43 -2.61

Rekatech Capital Bhd Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.74 -2.61 -3.72 -3.49 -3.68

XKLS:0081 vs PWR, FIX, EME: Beneish M-Score Comparison

For the Engineering & Construction subindustry, Rekatech Capital Bhd'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.

Rekatech Capital Bhd Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, Rekatech Capital Bhd's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Rekatech Capital Bhd's Beneish M-Score falls into.


Rekatech Capital Bhd 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 Rekatech Capital Bhd 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 * 0.928+0.528 * 0.7477+0.404 * 1.0327+0.892 * 0.7283+0.115 * 0.7868
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.166446-0.327 * 0.8872
=-3.68

* 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.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was RM0.37 Mil.
Revenue was 0.731 + 0.789 + 0.896 + 1.468 = RM3.88 Mil.
Gross Profit was 0.529 + 0.575 + 0.593 + 0.593 = RM2.29 Mil.
Total Current Assets was RM0.92 Mil.
Total Assets was RM42.37 Mil.
Property, Plant and Equipment(Net PPE) was RM0.52 Mil.
Depreciation, Depletion and Amortization(DDA) was RM1.12 Mil.
Selling, General, & Admin. Expense(SGA) was RM0.00 Mil.
Total Current Liabilities was RM0.44 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.01 Mil.
Net Income was -0.512 + -0.199 + -0.476 + -7.048 = RM-8.24 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.00 Mil.
Cash Flow from Operations was -0.4 + 0.191 + -0.409 + -0.565 = RM-1.18 Mil.
 Total Receivables was RM0.55 Mil.
Revenue was 1.15 + 0.817 + 1.135 + 2.231 = RM5.33 Mil.
Gross Profit was 0.522 + 0.624 + 0.617 + 0.588 = RM2.35 Mil.
Total Current Assets was RM2.25 Mil.
Total Assets was RM50.76 Mil.
Property, Plant and Equipment(Net PPE) was RM1.03 Mil.
Depreciation, Depletion and Amortization(DDA) was RM1.19 Mil.
Selling, General, & Admin. Expense(SGA) was RM0.00 Mil.
Total Current Liabilities was RM0.59 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.02 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)
=(0.369 / 3.884) / (0.546 / 5.333)
=0.095005 / 0.102381
=0.928

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)
=(2.351 / 5.333) / (2.29 / 3.884)
=0.44084 / 0.589598
=0.7477

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 - (0.922 + 0.516) / 42.368) / (1 - (2.249 + 1.025) / 50.76)
=0.966059 / 0.9355
=1.0327

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
=3.884 / 5.333
=0.7283

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))
=(1.193 / (1.193 + 1.025)) / (1.115 / (1.115 + 0.516))
=0.537872 / 0.68363
=0.7868

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 / 3.884) / (0 / 5.333)
=0 / 0
=1

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)
=((0.006 + 0.442) / 42.368) / ((0.019 + 0.586) / 50.76)
=0.010574 / 0.011919
=0.8872

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
=(-8.235 - 0 - -1.183) / 42.368
=-0.166446

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.

Rekatech Capital Bhd has a M-score of -3.68 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -3.68 mean?
Rekatech Capital Bhd (XKLS:0081) has a Beneish M-Score of -3.68 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Rekatech Capital Bhd and its competitors. According to the industry distribution chart, Rekatech Capital Bhd ranks #111 out of 1704 companies in the Construction industry, placing it in the top 6.5%.
Is Rekatech Capital Bhd's Beneish M-Score too high?
Rekatech Capital Bhd's current Beneish M-Score is -3.68. Based on the distribution chart, Rekatech Capital Bhd ranks #111 out of 1704 companies in the Construction industry, which is in the top quartile — a strong position relative to peers.
How does Rekatech Capital Bhd's Beneish M-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Rekatech Capital Bhd ranks #111 out of 1704 companies for Beneish M-Score. This places Rekatech Capital Bhd in the top 7% 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 Rekatech Capital Bhd and its competitors. Rekatech Capital Bhd's current Beneish M-Score is -3.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Rekatech Capital Bhd stock overvalued right now?
Based on GuruFocus' analysis, Rekatech Capital Bhd (XKLS:0081) is currently considered Significantly Undervalued. The stock's GF Value™ is RM0.03, compared to a current price of RM0.02 — trading 33.3% below its estimated fair value. The current Beneish M-Score is -3.68. 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 Rekatech Capital Bhd (XKLS:0081), the current Beneish M-Score is -3.68 as of Jun. 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.

Rekatech Capital Bhd Business Description

Address No. 1, Jalan PJU 1A/7A, Ara Damansara, B-2-15, Capital 2, Oasis Square, Wilayah Persekutuan, Petaling Jaya, SGR, MYS, 47301
Rekatech Capital Bhd offers project management services from design evaluation to the completion of the construction phase. The company operates in various segments which include Project Management Services; which provides project management services including project design evaluation, project value engineering and project construction management; Property Investment Holding; which is involved in letting of properties and provides support services, and Others; which holds investment and management fees. It generates maximum revenue from the Property Investment Holding segment. Geographically the company provides its services to the Malaysian market only.