TP Tec Holding Bhd (XKLS:03061) Beneish M-Score: 0.00 (As of Jul. 04, 2026)


XKLS:03061 TP Tec Holding Bhd XKLS:03061
10 GF Score
Price RM0.18
! 3 Warning Signs
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What is TP Tec Holding Bhd Beneish M-Score?

TP Tec Holding Bhd XKLS:03061 10 Beneish M-Score is 0.00 as of Jul. 04, 2026. GuruFocus rates XKLS:03061 with a GF Score™ of 10/100. The stock has 3 warning signs investors should review. Among 2,918 Industrial Products companies, TP Tec Holding Bhd ranks worse than 34270.01% 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.

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

During the past 4 years, the highest Beneish M-Score of TP Tec Holding Bhd was -3.49. The lowest was -3.49. And the median was -3.49.

TP Tec Holding Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for TP Tec Holding 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.

TP Tec Holding Bhd Beneish M-Score Chart

TP Tec Holding Bhd Annual Data
Trend Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -3.49 0.00

TP Tec Holding Bhd Semi-Annual Data
Dec22 Dec23 Dec24 Jun25 Dec25
Beneish M-Score 0.00 0.00 -3.49 0.00 0.00

XKLS:03061 vs GEV, ETN, PH: Beneish M-Score Comparison

For the Specialty Industrial Machinery subindustry, TP Tec Holding 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.

TP Tec Holding Bhd Beneish M-Score vs Industrial Products Industry

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

* The bar in red indicates where TP Tec Holding Bhd's Beneish M-Score falls into.


XKLS:03061
10GF Score
TP Tec Holding Bhd XKLS:03061
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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TP Tec Holding 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 TP Tec Holding 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was RM29.31 Mil.
Revenue was RM57.55 Mil.
Gross Profit was RM19.05 Mil.
Total Current Assets was RM33.71 Mil.
Total Assets was RM70.73 Mil.
Property, Plant and Equipment(Net PPE) was RM37.02 Mil.
Depreciation, Depletion and Amortization(DDA) was RM3.57 Mil.
Selling, General, & Admin. Expense(SGA) was RM7.31 Mil.
Total Current Liabilities was RM20.39 Mil.
Long-Term Debt & Capital Lease Obligation was RM25.26 Mil.
Net Income was RM6.71 Mil.
Gross Profit was RM0.00 Mil.
Cash Flow from Operations was RM5.78 Mil.
 Total Receivables was RM18.50 Mil.
Revenue was RM37.24 Mil.
Gross Profit was RM12.31 Mil.
Total Current Assets was RM21.95 Mil.
Total Assets was RM48.65 Mil.
Property, Plant and Equipment(Net PPE) was RM26.70 Mil.
Depreciation, Depletion and Amortization(DDA) was RM2.85 Mil.
Selling, General, & Admin. Expense(SGA) was RM5.45 Mil.
Total Current Liabilities was RM11.52 Mil.
Long-Term Debt & Capital Lease Obligation was RM19.35 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)
=(29.313 / 57.55) / (18.504 / 37.237)
=0.509348 / 0.496925
=

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)
=(12.313 / 37.237) / (19.051 / 57.55)
=0.330666 / 0.331034
=

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 - (33.707 + 37.022) / 70.729) / (1 - (21.953 + 26.695) / 48.648)
=0 / 0
=

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
=57.55 / 37.237
=

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))
=(2.85 / (2.85 + 26.695)) / (3.574 / (3.574 + 37.022))
=0.096463 / 0.088038
=

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)
=(7.311 / 57.55) / (5.446 / 37.237)
=0.127037 / 0.146252
=

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)
=((25.259 + 20.386) / 70.729) / ((19.353 + 11.518) / 48.648)
=0.645351 / 0.634579
=

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
=(6.713 - 0 - 5.779) / 70.729
=0.013205

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
TP Tec Holding Bhd (XKLS:03061) has a Beneish M-Score of 0.00 as of Jul. 04, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on TP Tec Holding Bhd and its competitors. According to the industry distribution chart, TP Tec Holding Bhd ranks #999999 out of 2918 companies in the Industrial Products industry.
Is TP Tec Holding Bhd's Beneish M-Score too high?
TP Tec Holding Bhd's current Beneish M-Score is 0.00. Based on the distribution chart, TP Tec Holding Bhd ranks #999999 out of 2918 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, TP Tec Holding Bhd has a GF Score™ of 10/100, reflecting its overall financial health beyond just this single metric.
How does TP Tec Holding Bhd's Beneish M-Score compare to GEV and ETN?
According to the Industrial Products industry distribution chart, TP Tec Holding Bhd ranks #999999 out of 2918 companies for Beneish M-Score. This places TP Tec Holding 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 an Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 TP Tec Holding Bhd and its competitors. TP Tec Holding Bhd's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TP Tec Holding Bhd stock overvalued right now?
TP Tec Holding Bhd (XKLS:03061) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. TP Tec Holding Bhd's overall GF Score™ is 10/100 with 3 warning signs to review. 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 TP Tec Holding Bhd (XKLS:03061), the current Beneish M-Score is 0.00 as of Jul. 04, 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.

TP Tec Holding Bhd Business Description

Address No 25, Jalan PP11/4, Alam Perdana Industrial Park, Taman Putra Perdana, Puchong, SGR, MYS, 47130
TP Tec Holding Bhd is mainly involved in investment holding and the provision of management services to its subsidiaries. Its subsidiaries are involved in the sale, hire and maintenance of power generators and construction machinery, the installation of solar hybrid power systems, and related work mainly for the telecommunications industry. It also distributes filters, under the Donaldson brand, to the transportation, construction, marine, mining, energy and agriculture industries.
10GF Score

Get the complete analysis for XKLS:03061

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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