SCC Holdings Bhd (XKLS:0158) Beneish M-Score : -0.57 (As of Mar. 04, 2025)

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What is SCC Holdings 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.

Warning Sign:

Beneish M-Score -0.57 higher than -1.78, which implies that the company might have manipulated its financial results.

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

XKLS:0158' s Beneish M-Score Range Over the Past 10 Years
Min: -3.12 Med: -2.28 Max: 0.19
Current: -0.57

During the past 13 years, the highest Beneish M-Score of SCC Holdings Bhd was 0.19. The lowest was -3.12. And the median was -2.28.

SCC Holdings Bhd Beneish M-Score Historical Data

The historical data trend for SCC Holdings 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.

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SCC Holdings Bhd Beneish M-Score Chart

SCC Holdings Bhd Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-2.52

0.19

-2.11

-1.57

-2.34

SCC Holdings Bhd Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial															-2.06	-2.34	-2.32	-2.48	-0.57

Competitive Comparison of SCC Holdings Bhd's Beneish M-Score

For the Food Distribution subindustry, SCC Holdings 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.

SCC Holdings Bhd's Beneish M-Score Distribution in the Retail - Defensive Industry

For the Retail - Defensive industry and Consumer Defensive sector, SCC Holdings Bhd's Beneish M-Score distribution charts can be found below:

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

SCC Holdings 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 SCC Holdings 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 * 1.0575

0.528 * 1.0985

0.404 * 6.9569

0.892 * 0.9602

0.115 * 0.9329

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9289

4.679 * -0.107106

0.327 * 1.2018

-0.57

This Year (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was RM12.96 Mil.
Revenue was 12.485 + 13.414 + 13.707 + 15.061 = RM54.67 Mil.
Gross Profit was 3.258 + 3.716 + 2.524 + 4.305 = RM13.80 Mil.
Total Current Assets was RM48.60 Mil.
Total Assets was RM55.57 Mil.
Property, Plant and Equipment(Net PPE) was RM6.39 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.98 Mil.
Selling, General, & Admin. Expense(SGA) was RM12.82 Mil.
Total Current Liabilities was RM7.26 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.68 Mil.
Net Income was 0.116 + 0.259 + -0.528 + 1.542 = RM1.39 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.00 Mil.
Cash Flow from Operations was 2.699 + 1.506 + 3.51 + -0.374 = RM7.34 Mil.

Total Receivables was RM12.76 Mil.
Revenue was 14.769 + 12.759 + 12.768 + 16.638 = RM56.93 Mil.
Gross Profit was 3.668 + 4.037 + 3.213 + 4.874 = RM15.79 Mil.
Total Current Assets was RM45.60 Mil.
Total Assets was RM52.37 Mil.
Property, Plant and Equipment(Net PPE) was RM6.69 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.95 Mil.
Selling, General, & Admin. Expense(SGA) was RM14.37 Mil.
Total Current Liabilities was RM5.81 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.42 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)
	=	(12.957 / 54.667)	/	(12.761 / 56.934)
	=	0.237017	/	0.224137
	=	1.0575

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)
	=	(15.792 / 56.934)	/	(13.803 / 54.667)
	=	0.277374	/	0.252492
	=	1.0985

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 - (48.6 + 6.388) / 55.571)	/	(1 - (45.599 + 6.693) / 52.371)
	=	0.010491	/	0.001508
	=	6.9569

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
	=	54.667	/	56.934
	=	0.9602

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))
	=	(0.952 / (0.952 + 6.693))	/	(0.984 / (0.984 + 6.388))
	=	0.124526	/	0.133478
	=	0.9329

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)
	=	(12.819 / 54.667)	/	(14.373 / 56.934)
	=	0.234492	/	0.25245
	=	0.9289

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)
	=	((0.681 + 7.255) / 55.571)	/	((0.417 + 5.806) / 52.371)
	=	0.142808	/	0.118825
	=	1.2018

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
	=	(1.389 - 0	-	7.341)	/	55.571
	=	-0.107106

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.

SCC Holdings Bhd has a M-score of -0.57 signals that the company is likely to be a manipulator.

SCC Holdings Bhd Beneish M-Score Related Terms

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SCC Holdings Bhd Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Retail - Defensive » SCC Holdings Bhd (XKLS:0158) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

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Address

19-21, Jalan Hujan, Taman Overseas Union, 5th Miles, Jalan Kelang Lama, Kuala Lumpur, MYS, 58200

Website

https://www.sccholdings.com.my

SCC Holdings Bhd is engaged in the distribution of food service equipment and the sale of animal health products. The group operates in the business segments of Foodservice equipment segment, Animal health products, and Others. The food service equipment segment includes industrial-grade equipment used to aid the final preparation and delivery of meals to customers. Food service equipment has applications in kitchens and is suited for food service providers. Animal health product segments include the selling of antimicrobial preservatives and feed additives. The group generates the majority of its revenue from the Animal health products division.

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