Sanichi Technology Bhd (XKLS:0133) Beneish M-Score : -5.82 (As of Apr. 03, 2025)

View and export this data going back to 2006. Start your Free Trial

What is Sanichi Technology Bhd Beneish M-Score?

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 -5.82 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:0133' s Beneish M-Score Range Over the Past 10 Years
Min: -5.82 Med: -0.5 Max: 4.36
Current: -5.82

During the past 13 years, the highest Beneish M-Score of Sanichi Technology Bhd was 4.36. The lowest was -5.82. And the median was -0.50.

Sanichi Technology Bhd Beneish M-Score Historical Data

The historical data trend for Sanichi Technology 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.

* Premium members only.

Sanichi Technology Bhd Beneish M-Score Chart

Sanichi Technology Bhd Annual Data

Trend

Jun12

Jun13

Jun14

Jun15

Jun16

Jun17

Dec18

Dec19

Dec20

Dec21

Beneish M-Score

Get a 7-Day Free Trial

-0.56

-2.87

4.36

0.55

-5.82

Sanichi Technology Bhd Quarterly Data
	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Jun24	Sep24	Dec24
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of Sanichi Technology Bhd's Beneish M-Score

For the Tools & Accessories subindustry, Sanichi Technology 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.

Sanichi Technology Bhd's Beneish M-Score Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Sanichi Technology Bhd's Beneish M-Score distribution charts can be found below:

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

Save Embed

;

Save Embed

;

Sanichi Technology 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 Sanichi Technology Bhd for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.6125

0.528 * -1.1132

0.404 * 0.8692

0.892 * 0.7474

0.115 * 0.9017

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 7.7127

4.679 * -0.28083

0.327 * 1.0893

-5.82

This Year (Dec21) TTM:

Last Year (Dec20) TTM:

Total Receivables was RM40.15 Mil.
Revenue was RM17.71 Mil.
Gross Profit was RM0.75 Mil.
Total Current Assets was RM267.46 Mil.
Total Assets was RM363.97 Mil.
Property, Plant and Equipment(Net PPE) was RM40.99 Mil.
Depreciation, Depletion and Amortization(DDA) was RM5.10 Mil.
Selling, General, & Admin. Expense(SGA) was RM95.30 Mil.
Total Current Liabilities was RM34.82 Mil.
Long-Term Debt & Capital Lease Obligation was RM33.85 Mil.
Net Income was RM-94.39 Mil.
Gross Profit was RM0.00 Mil.
Cash Flow from Operations was RM7.82 Mil.

Total Receivables was RM33.31 Mil.
Revenue was RM23.69 Mil.
Gross Profit was RM-1.12 Mil.
Total Current Assets was RM248.20 Mil.
Total Assets was RM355.09 Mil.
Property, Plant and Equipment(Net PPE) was RM44.57 Mil.
Depreciation, Depletion and Amortization(DDA) was RM4.94 Mil.
Selling, General, & Admin. Expense(SGA) was RM16.53 Mil.
Total Current Liabilities was RM25.31 Mil.
Long-Term Debt & Capital Lease Obligation was RM36.19 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)
	=	(40.149 / 17.708)	/	(33.312 / 23.692)
	=	2.26728	/	1.406044
	=	1.6125

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)
	=	(-1.117 / 23.692)	/	(0.75 / 17.708)
	=	-0.047147	/	0.042354
	=	-1.1132

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 - (267.459 + 40.99) / 363.968)	/	(1 - (248.2 + 44.574) / 355.088)
	=	0.152538	/	0.175489
	=	0.8692

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
	=	17.708	/	23.692
	=	0.7474

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))
	=	(4.944 / (4.944 + 44.574))	/	(5.104 / (5.104 + 40.99))
	=	0.099842	/	0.11073
	=	0.9017

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)
	=	(95.296 / 17.708)	/	(16.531 / 23.692)
	=	5.381522	/	0.697746
	=	7.7127

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)
	=	((33.846 + 34.823) / 363.968)	/	((36.186 + 25.314) / 355.088)
	=	0.188668	/	0.173197
	=	1.0893

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
	=	(-94.392 - 0	-	7.821)	/	363.968
	=	-0.28083

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.

Sanichi Technology Bhd has a M-score of -5.82 suggests that the company is unlikely to be a manipulator.

Sanichi Technology Bhd Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Sanichi Technology Bhd's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Sanichi Technology Bhd Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Sanichi Technology Bhd (XKLS:0133) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

PLO 135, Jalan Cyber 5, Kawasan Perindustrian Senai Fasa 3, Senai, JHR, MYS, 81400

Website

https://www.sanichimould.com

Sanichi Technology Bhd is an investment holding company. Through its subsidiaries, the group is organized into the reportable operating segments of Plastic Mould which involves the designing and fabrication of precision moulds and tooling for use in the automobile; Property development which involves property development activities; and Others including investment holding and provision for management services. The product segment of the group covers Advanced Plastic Injection Mould and Conventional Plastic Injection Mould. Geographically, the group has a business presence in Germany, Malaysia, and the United States, of which key revenue is derived from Malaysia.

Sanichi Technology Bhd Headlines

No Headlines