Vetece Holdings Bhd (XKLS:0319) Beneish M-Score: 0.00 (As of Jun. 26, 2026)


XKLS:0319 Vetece Holdings Bhd XKLS:0319
21 GF Score
Price RM0.24
! 5 Warning Signs
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What is Vetece Holdings Bhd Beneish M-Score?

Vetece Holdings Bhd XKLS:0319 21 Beneish M-Score is 0.00 as of Jun. 26, 2026. GuruFocus rates XKLS:0319 with a GF Score™ of 21/100. The stock has 5 warning signs investors should review. Among 2,634 Software companies, Vetece Holdings Bhd ranks worse than 37965.03% 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 Vetece Holdings Bhd's Beneish M-Score or its related term are showing as below:

During the past 5 years, the highest Beneish M-Score of Vetece Holdings Bhd was 0.00. The lowest was 0.00. And the median was 0.00.

Vetece Holdings Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Vetece 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.

Vetece Holdings Bhd Beneish M-Score Chart

Vetece Holdings Bhd Annual Data
Trend Aug21 Aug22 Aug23 Aug24 Aug25
Beneish M-Score
0.00 0.00 0.00 0.00 0.00

Vetece Holdings Bhd Quarterly Data
Aug21 Aug22 Aug23 Mar24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

XKLS:0319 vs IBM, ACN, FISV: Beneish M-Score Comparison

For the Information Technology Services subindustry, Vetece 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.

Vetece Holdings Bhd Beneish M-Score vs Software Industry

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

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


XKLS:0319
21GF Score
Vetece Holdings Bhd XKLS:0319
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Vetece 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 Vetece Holdings 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 (Feb26) TTM:Last Year (Feb25) TTM:
Total Receivables was RM16.51 Mil.
Revenue was 10.964 + 5.046 + 4.365 + 6.06 = RM26.44 Mil.
Gross Profit was 1.939 + 1.942 + 1.219 + 1.515 = RM6.62 Mil.
Total Current Assets was RM42.48 Mil.
Total Assets was RM49.74 Mil.
Property, Plant and Equipment(Net PPE) was RM6.50 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.18 Mil.
Selling, General, & Admin. Expense(SGA) was RM2.40 Mil.
Total Current Liabilities was RM6.59 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.00 Mil.
Net Income was 1.036 + 1.132 + 0.406 + 0.865 = RM3.44 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.00 Mil.
Cash Flow from Operations was -0.696 + 0.904 + 6.47 + -3.348 = RM3.33 Mil.
 Total Receivables was RM34.51 Mil.
Revenue was 30.862 + 5.015 + 4.004 + 0 = RM39.88 Mil.
Gross Profit was 2.525 + 2.069 + 1.342 + 0 = RM5.94 Mil.
Total Current Assets was RM61.52 Mil.
Total Assets was RM68.13 Mil.
Property, Plant and Equipment(Net PPE) was RM6.61 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.09 Mil.
Selling, General, & Admin. Expense(SGA) was RM4.69 Mil.
Total Current Liabilities was RM25.14 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.00 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)
=(16.505 / 26.435) / (34.508 / 39.881)
=0.624362 / 0.865274
=

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)
=(5.936 / 39.881) / (6.615 / 26.435)
=0.148843 / 0.250236
=

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 - (42.479 + 6.504) / 49.744) / (1 - (61.516 + 6.614) / 68.13)
=0.015298 / 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
=26.435 / 39.881
=

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))
=(0.09 / (0.09 + 6.614)) / (0.177 / (0.177 + 6.504))
=0.013425 / 0.026493
=

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)
=(2.398 / 26.435) / (4.687 / 39.881)
=0.090713 / 0.117525
=

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 + 6.592) / 49.744) / ((0 + 25.137) / 68.13)
=0.132518 / 0.368956
=

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
=(3.439 - 0 - 3.33) / 49.744
=0.002191

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?
Vetece Holdings Bhd (XKLS:0319) has a Beneish M-Score of 0.00 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Vetece Holdings Bhd and its competitors. According to the industry distribution chart, Vetece Holdings Bhd ranks #999999 out of 2634 companies in the Software industry.
Is Vetece Holdings Bhd's Beneish M-Score too high?
Vetece Holdings Bhd's current Beneish M-Score is 0.00. Based on the distribution chart, Vetece Holdings Bhd ranks #999999 out of 2634 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Vetece Holdings Bhd has a GF Score™ of 21/100, reflecting its overall financial health beyond just this single metric.
How does Vetece Holdings Bhd's Beneish M-Score compare to IBM and ACN?
According to the Software industry distribution chart, Vetece Holdings Bhd ranks #999999 out of 2634 companies for Beneish M-Score. This places Vetece Holdings 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 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 Vetece Holdings Bhd and its competitors. Vetece Holdings 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 Vetece Holdings Bhd stock overvalued right now?
Vetece Holdings Bhd (XKLS:0319) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Vetece Holdings Bhd's overall GF Score™ is 21/100 with 5 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 Vetece Holdings Bhd (XKLS:0319), the current Beneish M-Score is 0.00 as of Jun. 26, 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.

Vetece Holdings Bhd Business Description

Address No. 2, Jalan Kerinchi, E-32-3A and E-32-03, Menara Suezcap 2, KL Gateway, Gerbang Kerinchi Lestari, Wilayah Persekutuan, Kuala Lumpur, SGR, MYS, 59200
Vetece Holdings Bhd is an investment holding company. The company, along with its subsidiaries, is principally an information technology (IT) solutions provider, providing implementation services, maintenance, support, and professional services as well as the resale of hardware and software. It offers comprehensive end-to-end technology services, specializing in AI and data solutions, consulting, development, operation, testing, and maintenance. The company's operating segments are: Implementation services, Maintenance, support and professional services, and Resale of hardware and software. The majority of the revenue is derived from the Implementation services segment, which involves providing IT services to its clients.
21GF Score

Get the complete analysis for XKLS:0319

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

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