Advance Information Marketing Bhd (XKLS:0122) Beneish M-Score: -3.85 (As of Jul. 03, 2026)


What is Advance Information Marketing Bhd Beneish M-Score?

Advance Information Marketing Bhd XKLS:0122 Beneish M-Score is -3.85 as of Jul. 03, 2026. The stock has 6 warning signs investors should review. Among 1,021 Business Services companies, Advance Information Marketing Bhd ranks better than 93.73% 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 -3.85 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:0122' s Beneish M-Score Range Over the Past 10 Years
Min: -5.92   Med: -2.65   Max: 72.84
Current: -3.85

During the past 13 years, the highest Beneish M-Score of Advance Information Marketing Bhd was 72.84. The lowest was -5.92. And the median was -2.65.

Advance Information Marketing Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Advance Information Marketing 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.

Advance Information Marketing Bhd Beneish M-Score Chart

Advance Information Marketing Bhd Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -3.40 -1.03 -4.39 -3.48 -2.56

Advance Information Marketing 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 0.37 -0.53 0.95 1.63 -3.85

XKLS:0122 vs CTAS, CPRT, ULS: Beneish M-Score Comparison

For the Specialty Business Services subindustry, Advance Information Marketing 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.

Advance Information Marketing Bhd Beneish M-Score vs Business Services Industry

For the Business Services industry and Industrials sector, Advance Information Marketing Bhd's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Advance Information Marketing Bhd's Beneish M-Score falls into.


Advance Information Marketing 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 Advance Information Marketing 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 * 0.4372+0.528 * 0.5781+0.404 * 1.1808+0.892 * 1.6469+0.115 * 1.0668
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.5892+4.679 * -0.277746-0.327 * 1.1708
=-3.85

* 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 RM6.44 Mil.
Revenue was 1.867 + 1.779 + 3.164 + 1.734 = RM8.54 Mil.
Gross Profit was 0.598 + -0.162 + 1.236 + 0.775 = RM2.45 Mil.
Total Current Assets was RM8.54 Mil.
Total Assets was RM19.22 Mil.
Property, Plant and Equipment(Net PPE) was RM9.81 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.96 Mil.
Selling, General, & Admin. Expense(SGA) was RM7.18 Mil.
Total Current Liabilities was RM3.36 Mil.
Long-Term Debt & Capital Lease Obligation was RM1.39 Mil.
Net Income was -0.687 + -2.048 + -0.094 + -2.047 = RM-4.88 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.00 Mil.
Cash Flow from Operations was 0.322 + 0.146 + -0.006 + 0 = RM0.46 Mil.
 Total Receivables was RM8.94 Mil.
Revenue was 1.894 + 1.745 + 0.74 + 0.809 = RM5.19 Mil.
Gross Profit was 0.351 + 0.262 + 0.143 + 0.103 = RM0.86 Mil.
Total Current Assets was RM10.86 Mil.
Total Assets was RM24.01 Mil.
Property, Plant and Equipment(Net PPE) was RM12.23 Mil.
Depreciation, Depletion and Amortization(DDA) was RM1.29 Mil.
Selling, General, & Admin. Expense(SGA) was RM7.40 Mil.
Total Current Liabilities was RM2.67 Mil.
Long-Term Debt & Capital Lease Obligation was RM2.40 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)
=(6.437 / 8.544) / (8.941 / 5.188)
=0.753394 / 1.7234
=0.4372

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)
=(0.859 / 5.188) / (2.447 / 8.544)
=0.165574 / 0.2864
=0.5781

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 - (8.543 + 9.811) / 19.219) / (1 - (10.86 + 12.23) / 24.005)
=0.045008 / 0.038117
=1.1808

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
=8.544 / 5.188
=1.6469

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))
=(1.285 / (1.285 + 12.23)) / (0.96 / (0.96 + 9.811))
=0.09508 / 0.089128
=1.0668

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)
=(7.18 / 8.544) / (7.4 / 5.188)
=0.840356 / 1.426369
=0.5892

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)
=((1.386 + 3.361) / 19.219) / ((2.396 + 2.668) / 24.005)
=0.246995 / 0.210956
=1.1708

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
=(-4.876 - 0 - 0.462) / 19.219
=-0.277746

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.

Advance Information Marketing Bhd has a M-score of -3.85 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 -3.85 mean?
Advance Information Marketing Bhd (XKLS:0122) has a Beneish M-Score of -3.85 as of Jul. 03, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Advance Information Marketing Bhd and its competitors. According to the industry distribution chart, Advance Information Marketing Bhd ranks #64 out of 1021 companies in the Business Services industry, placing it in the top 6.3%.
Is Advance Information Marketing Bhd's Beneish M-Score too high?
Advance Information Marketing Bhd's current Beneish M-Score is -3.85. Based on the distribution chart, Advance Information Marketing Bhd ranks #64 out of 1021 companies in the Business Services industry, which is in the top quartile — a strong position relative to peers.
How does Advance Information Marketing Bhd's Beneish M-Score compare to CTAS and CPRT?
According to the Business Services industry distribution chart, Advance Information Marketing Bhd ranks #64 out of 1021 companies for Beneish M-Score. This places Advance Information Marketing Bhd in the top 6% 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 Business Services company?
A good Beneish M-Score depends on the Business 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 Advance Information Marketing Bhd and its competitors. Advance Information Marketing Bhd's current Beneish M-Score is -3.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Advance Information Marketing Bhd stock overvalued right now?
Based on GuruFocus' analysis, Advance Information Marketing Bhd (XKLS:0122) is currently considered Modestly Overvalued. The stock's GF Value™ is RM0.05, compared to a current price of RM0.06 — trading 20% above its estimated fair value. The current Beneish M-Score is -3.85. 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 Advance Information Marketing Bhd (XKLS:0122), the current Beneish M-Score is -3.85 as of Jul. 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.

Advance Information Marketing Bhd Business Description

Address No 18, Jalan Balam, Kuala Lumpur, SGR, MYS, 51100
Advance Information Marketing Bhd is a BPO (Business Process Outsourcing) solution provider offering a spectrum of loyalty management services ranging from consultation, technology infrastructure, and technical support to procurement and logistics for companies. The company's operating segments are the Managed customer loyalty services segment, including sales and marketing services, client relationship management, outsourced contact center management; the Retail segment, which includes Retail sales of pharmaceutical products; and Other segments, including outsourced procurement services, investment holding, and corporate-level activities. The majority of the company's revenue comes from Malaysia.