Kronologi Asia Bhd (XKLS:0176) Beneish M-Score: -7.04 (As of Jun. 25, 2026)


What is Kronologi Asia Bhd Beneish M-Score?

Kronologi Asia Bhd XKLS:0176 +11.76% Beneish M-Score is -7.04 as of Jun. 25, 2026. The stock has 5 warning signs investors should review. Among 2,633 Software companies, Kronologi Asia Bhd ranks better than 97.38% 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 -7.04 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:0176' s Beneish M-Score Range Over the Past 10 Years
Min: -7.04   Med: -2.48   Max: -0.22
Current: -7.04

During the past 12 years, the highest Beneish M-Score of Kronologi Asia Bhd was -0.22. The lowest was -7.04. And the median was -2.48.

Kronologi Asia Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Kronologi Asia 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.

Kronologi Asia Bhd Beneish M-Score Chart

Kronologi Asia Bhd Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Jan22 Jan23 Jan24 Jan25 Jan26
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -4.10 -2.21 -3.04 -2.65 -7.04

Kronologi Asia Bhd Quarterly Data
Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26
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 -2.65 -2.84 -3.59 -3.16 -7.04

XKLS:0176 vs CRM, SHOP, UBER: Beneish M-Score Comparison

For the Software - Application subindustry, Kronologi Asia 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.

Kronologi Asia Bhd Beneish M-Score vs Software Industry

For the Software industry and Technology sector, Kronologi Asia Bhd's Beneish M-Score distribution charts can be found below:

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


Kronologi Asia 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 Kronologi Asia 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 * 0.8108+0.528 * 0.9842+0.404 * 0.5003+0.892 * 0.6932+0.115 * 0.7264
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2443+4.679 * -0.813502-0.327 * 1.0826
=-7.04

* 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 (Jan26) TTM:Last Year (Jan25) TTM:
Total Receivables was RM44.6 Mil.
Revenue was 40.215 + 48.73 + 60.89 + 59.248 = RM209.1 Mil.
Gross Profit was 5.372 + 10.845 + 12.099 + 14.875 = RM43.2 Mil.
Total Current Assets was RM110.1 Mil.
Total Assets was RM294.4 Mil.
Property, Plant and Equipment(Net PPE) was RM122.1 Mil.
Depreciation, Depletion and Amortization(DDA) was RM17.4 Mil.
Selling, General, & Admin. Expense(SGA) was RM42.0 Mil.
Total Current Liabilities was RM69.9 Mil.
Long-Term Debt & Capital Lease Obligation was RM17.2 Mil.
Net Income was -240.752 + 0.564 + 1.058 + 1.511 = RM-237.6 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.0 Mil.
Cash Flow from Operations was 2.319 + -1.172 + -4.524 + 5.253 = RM1.9 Mil.
 Total Receivables was RM79.3 Mil.
Revenue was 89.882 + 70.619 + 83.349 + 57.751 = RM301.6 Mil.
Gross Profit was 16.309 + 16.601 + 13.948 + 14.461 = RM61.3 Mil.
Total Current Assets was RM203.9 Mil.
Total Assets was RM651.6 Mil.
Property, Plant and Equipment(Net PPE) was RM172.3 Mil.
Depreciation, Depletion and Amortization(DDA) was RM17.2 Mil.
Selling, General, & Admin. Expense(SGA) was RM48.7 Mil.
Total Current Liabilities was RM156.3 Mil.
Long-Term Debt & Capital Lease Obligation was RM21.9 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)
=(44.578 / 209.083) / (79.31 / 301.601)
=0.213207 / 0.262963
=0.8108

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)
=(61.319 / 301.601) / (43.191 / 209.083)
=0.203312 / 0.206573
=0.9842

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 - (110.065 + 122.101) / 294.4) / (1 - (203.931 + 172.349) / 651.557)
=0.211393 / 0.422491
=0.5003

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
=209.083 / 301.601
=0.6932

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))
=(17.212 / (17.212 + 172.349)) / (17.444 / (17.444 + 122.101))
=0.090799 / 0.125006
=0.7264

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)
=(41.998 / 209.083) / (48.687 / 301.601)
=0.200868 / 0.161429
=1.2443

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)
=((17.237 + 69.925) / 294.4) / ((21.889 + 156.302) / 651.557)
=0.296067 / 0.273485
=1.0826

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
=(-237.619 - 0 - 1.876) / 294.4
=-0.813502

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.

Kronologi Asia Bhd has a M-score of -7.04 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 -7.04 mean?
Kronologi Asia Bhd (XKLS:0176) has a Beneish M-Score of -7.04 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Kronologi Asia Bhd and its competitors. According to the industry distribution chart, Kronologi Asia Bhd ranks #69 out of 2633 companies in the Software industry, placing it in the top 2.6%.
Is Kronologi Asia Bhd's Beneish M-Score too high?
Kronologi Asia Bhd's current Beneish M-Score is -7.04. Based on the distribution chart, Kronologi Asia Bhd ranks #69 out of 2633 companies in the Software industry, which is in the top quartile — a strong position relative to peers.
How does Kronologi Asia Bhd's Beneish M-Score compare to CRM and SHOP?
According to the Software industry distribution chart, Kronologi Asia Bhd ranks #69 out of 2633 companies for Beneish M-Score. This places Kronologi Asia Bhd in the top 3% 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 Software company?
A good Beneish M-Score depends on the Software 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 Kronologi Asia Bhd and its competitors. Kronologi Asia Bhd's current Beneish M-Score is -7.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kronologi Asia Bhd stock overvalued right now?
Based on GuruFocus' analysis, Kronologi Asia Bhd (XKLS:0176) is currently considered Possible Value Trap. The stock's GF Value™ is RM0.22, compared to a current price of RM0.10 — trading 56.8% below its estimated fair value. The current Beneish M-Score is -7.04. 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 Kronologi Asia Bhd (XKLS:0176), the current Beneish M-Score is -7.04 as of Jun. 25, 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.

Kronologi Asia Bhd Business Description

Address No. 9, Jalan Stesen Sentral 5, Level 28-D, Axiata Tower, Kuala Lumpur Sentral, Wilayah Persekutuan, Kuala Lumpur, SGR, MYS, 50470
Kronologi Asia Bhd is engaged in investment holding and the provision of business consulting, designing of solutions, and research and development relating to new and emerging information technology software, applications, multimedia development, information systems, data management software, data protection solutions and processes, system back-up and disaster recovery systems, related businesses, and hybrid and cloud enterprise data management technology and solutions. Its segments are: EDM Infrastructure Technology, which generates maximum revenue and comprises both hardware and software used to record, store, retain, back up, recover, and restore digital data, and EDM As-A-Service. The Group generates maximum revenue from the Philippines.