M N C Wireless Bhd (XKLS:0103) Beneish M-Score: 3.96 (As of Aug. 02, 2026)

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What is M N C Wireless Bhd Beneish M-Score?

M N C Wireless Bhd XKLS:0103 Beneish M-Score is 3.96 as of Aug. 02, 2026. The stock has 6 warning signs investors should review. Among 349 Telecommunication Services companies, M N C Wireless Bhd ranks worse than 99.14% 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.

Warning Sign:

Beneish M-Score 3.96 higher than -1.78, which implies that the company might have manipulated its financial results.

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

XKLS:0103' s Beneish M-Score Range Over the Past 10 Years
Min: -4.78   Med: -1.15   Max: 12.19
Current: 3.96

During the past 13 years, the highest Beneish M-Score of M N C Wireless Bhd was 12.19. The lowest was -4.78. And the median was -1.15.

M N C Wireless Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for M N C Wireless 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.

M N C Wireless Bhd Beneish M-Score Chart

M N C Wireless Bhd Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Apr20 Apr21 Apr22 Apr23 Apr24 Apr25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -0.47 -4.78 -1.51 -2.63 3.96

M N C Wireless Bhd Quarterly Data
Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Nov25 Feb26
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 0.00 3.96 0.00 0.00 0.00

XKLS:0103 vs VZ, TMUS, T: Beneish M-Score Comparison

For the Telecom Services subindustry, M N C Wireless 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.

M N C Wireless Bhd Beneish M-Score vs Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, M N C Wireless Bhd's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where M N C Wireless Bhd's Beneish M-Score falls into.


M N C Wireless 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 M N C Wireless 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 * 8.1485+0.528 * 1.036+0.404 * 0.6367+0.892 * 1.2192+0.115 * 1.0548
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * -0.049797-0.327 * 1.4537
=3.96

* 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 (Apr25) TTM:Last Year (Apr24) TTM:
Total Receivables was RM37.17 Mil.
Revenue was RM17.26 Mil.
Gross Profit was RM3.37 Mil.
Total Current Assets was RM67.03 Mil.
Total Assets was RM85.91 Mil.
Property, Plant and Equipment(Net PPE) was RM8.23 Mil.
Depreciation, Depletion and Amortization(DDA) was RM4.33 Mil.
Selling, General, & Admin. Expense(SGA) was RM0.00 Mil.
Total Current Liabilities was RM20.99 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.00 Mil.
Net Income was RM-5.79 Mil.
Gross Profit was RM0.00 Mil.
Cash Flow from Operations was RM-1.51 Mil.
 Total Receivables was RM3.74 Mil.
Revenue was RM14.15 Mil.
Gross Profit was RM2.86 Mil.
Total Current Assets was RM58.04 Mil.
Total Assets was RM82.52 Mil.
Property, Plant and Equipment(Net PPE) was RM8.41 Mil.
Depreciation, Depletion and Amortization(DDA) was RM4.80 Mil.
Selling, General, & Admin. Expense(SGA) was RM11.51 Mil.
Total Current Liabilities was RM13.87 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.00 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)
=(37.165 / 17.255) / (3.741 / 14.153)
=2.153868 / 0.264326
=8.1485

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)
=(2.861 / 14.153) / (3.367 / 17.255)
=0.202148 / 0.195132
=1.036

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 - (67.028 + 8.231) / 85.908) / (1 - (58.038 + 8.413) / 82.516)
=0.123958 / 0.19469
=0.6367

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
=17.255 / 14.153
=1.2192

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))
=(4.802 / (4.802 + 8.413)) / (4.326 / (4.326 + 8.231))
=0.363375 / 0.344509
=1.0548

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 / 17.255) / (11.507 / 14.153)
=0 / 0.813043
=0

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 + 20.994) / 85.908) / ((0 + 13.872) / 82.516)
=0.244378 / 0.168113
=1.4537

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
=(-5.787 - 0 - -1.509) / 85.908
=-0.049797

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.

M N C Wireless Bhd has a M-score of 3.96 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 3.96 mean?
M N C Wireless Bhd (XKLS:0103) has a Beneish M-Score of 3.96 as of Aug. 02, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on M N C Wireless Bhd and its competitors. According to the industry distribution chart, M N C Wireless Bhd ranks #346 out of 349 companies in the Telecommunication Services industry, placing it in the top 99.1%.
Is M N C Wireless Bhd's Beneish M-Score too high?
M N C Wireless Bhd's current Beneish M-Score is 3.96. Based on the distribution chart, M N C Wireless Bhd ranks #346 out of 349 companies in the Telecommunication Services industry, which is in the bottom quartile relative to peers.
How does M N C Wireless Bhd's Beneish M-Score compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, M N C Wireless Bhd ranks #346 out of 349 companies for Beneish M-Score. This places M N C Wireless Bhd 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 Telecommunication Services company?
A good Beneish M-Score depends on the Telecommunication 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 M N C Wireless Bhd and its competitors. M N C Wireless Bhd's current Beneish M-Score is 3.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is M N C Wireless Bhd stock overvalued right now?
Based on GuruFocus' analysis, M N C Wireless Bhd (XKLS:0103) is currently considered Possible Value Trap. The stock's GF Value™ is RM0.13, compared to a current price of RM0.04 — trading 69.2% below its estimated fair value. The current Beneish M-Score is 3.96. 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 M N C Wireless Bhd (XKLS:0103), the current Beneish M-Score is 3.96 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.

M N C Wireless Bhd Business Description

Other Exchanges 0103PA.PFD:Malaysia
Address 100-3.011, Jaya One, Number 72A, Jalan Profesor Diraja Ungku Aziz, 129 Offices, Petaling Jaya, SGR, MYS, 46200
M N C Wireless Bhd activities include sales and marketing, and research and development of wireless, mobile and multimedia solutions and content, and investment holding. Its segments comprise Mobile applications, a premium mobile content platform enabling the sale of content via SMS and MMS; Wireless and multimedia related services, including consultations, sales, marketing and implementation of mobile messaging solutions and related multimedia services, which generate the majority of revenue; and Others. Its services include mobile applications, mobile messaging, social media management, mobile billing, web design and development, and web maintenance.