Chemlite Innovation Bhd (XKLS:0348) Beneish M-Score: 0.00 (As of Jul. 03, 2026)


XKLS:0348 Chemlite Innovation Bhd XKLS:0348
20 GF Score
Price RM0.20
! 3 Warning Signs
View Full Analysis

What is Chemlite Innovation Bhd Beneish M-Score?

Chemlite Innovation Bhd XKLS:0348 20 Beneish M-Score is 0.00 as of Jul. 03, 2026. GuruFocus rates XKLS:0348 with a GF Score™ of 20/100. The stock has 3 warning signs investors should review. Among 2,918 Industrial Products companies, Chemlite Innovation 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 Chemlite Innovation Bhd's Beneish M-Score or its related term are showing as below:

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

Chemlite Innovation Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Chemlite Innovation 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.

Chemlite Innovation Bhd Beneish M-Score Chart

Chemlite Innovation Bhd Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 0.00 0.00 0.00

Chemlite Innovation Bhd Quarterly Data
Dec21 Dec22 Dec23 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only 0.00 0.00 0.00 0.00 0.00

XKLS:0348 vs CRS, ATI, MLI: Beneish M-Score Comparison

For the Metal Fabrication subindustry, Chemlite Innovation 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.

Chemlite Innovation Bhd Beneish M-Score vs Industrial Products Industry

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

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


XKLS:0348
20GF Score
Chemlite Innovation Bhd XKLS:0348
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Chemlite Innovation 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 Chemlite Innovation 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was RM9.59 Mil.
Revenue was 8.43 + 13.031 + 10.284 + 8.905 = RM40.65 Mil.
Gross Profit was 3.362 + 5.16 + 3.28 + 2.62 = RM14.42 Mil.
Total Current Assets was RM25.51 Mil.
Total Assets was RM65.83 Mil.
Property, Plant and Equipment(Net PPE) was RM40.31 Mil.
Depreciation, Depletion and Amortization(DDA) was RM3.96 Mil.
Selling, General, & Admin. Expense(SGA) was RM8.40 Mil.
Total Current Liabilities was RM2.82 Mil.
Long-Term Debt & Capital Lease Obligation was RM8.44 Mil.
Net Income was 1.056 + 2.909 + 1.136 + 0.821 = RM5.92 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.00 Mil.
Cash Flow from Operations was 0.28 + 0.982 + 0.926 + 8.917 = RM11.11 Mil.
 Total Receivables was RM18.41 Mil.
Revenue was 9.42 + 0 + 0 + 0 = RM9.42 Mil.
Gross Profit was 2.975 + 0 + 0 + 0 = RM2.98 Mil.
Total Current Assets was RM46.80 Mil.
Total Assets was RM68.52 Mil.
Property, Plant and Equipment(Net PPE) was RM21.72 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.81 Mil.
Selling, General, & Admin. Expense(SGA) was RM2.48 Mil.
Total Current Liabilities was RM8.43 Mil.
Long-Term Debt & Capital Lease Obligation was RM11.27 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)
=(9.591 / 40.65) / (18.41 / 9.42)
=0.235941 / 1.954352
=

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)
=(2.975 / 9.42) / (14.422 / 40.65)
=0.315817 / 0.354785
=

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 - (25.513 + 40.314) / 65.827) / (1 - (46.798 + 21.724) / 68.522)
=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
=40.65 / 9.42
=

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))
=(0.805 / (0.805 + 21.724)) / (3.963 / (3.963 + 40.314))
=0.035732 / 0.089505
=

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)
=(8.4 / 40.65) / (2.483 / 9.42)
=0.206642 / 0.263588
=

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)
=((8.436 + 2.82) / 65.827) / ((11.266 + 8.43) / 68.522)
=0.170994 / 0.287441
=

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
=(5.922 - 0 - 11.105) / 65.827
=-0.078737

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?
Chemlite Innovation Bhd (XKLS:0348) has a Beneish M-Score of 0.00 as of Jul. 03, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Chemlite Innovation Bhd and its competitors. According to the industry distribution chart, Chemlite Innovation Bhd ranks #999999 out of 2918 companies in the Industrial Products industry.
Is Chemlite Innovation Bhd's Beneish M-Score too high?
Chemlite Innovation Bhd's current Beneish M-Score is 0.00. Based on the distribution chart, Chemlite Innovation Bhd ranks #999999 out of 2918 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Chemlite Innovation Bhd has a GF Score™ of 20/100, reflecting its overall financial health beyond just this single metric.
How does Chemlite Innovation Bhd's Beneish M-Score compare to CRS and ATI?
According to the Industrial Products industry distribution chart, Chemlite Innovation Bhd ranks #999999 out of 2918 companies for Beneish M-Score. This places Chemlite Innovation 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 Chemlite Innovation Bhd and its competitors. Chemlite Innovation 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 Chemlite Innovation Bhd stock overvalued right now?
Chemlite Innovation Bhd (XKLS:0348) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Chemlite Innovation Bhd's overall GF Score™ is 20/100 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 Chemlite Innovation Bhd (XKLS:0348), the current Beneish M-Score is 0.00 as of Jul. 03, 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.

Chemlite Innovation Bhd Business Description

Address No. 1297, Lorong Perindustrian Bukit Minyak 22, Taman Perindustrian Bukit Minyak (Penang Science Park, Simpang Ampat, PNG, MYS, 14100
Chemlite Innovation Bhd operates in the engineering support industry. It provide surface finishing treatment services to companies operating in the semiconductor and E&E industries. It specialises in the provision of metal plating services on intermediate metal products, plating a composition of multi-layer metal coatings. It also provide non-metal plating services on intermediate metal products, which include anodising and other non-metal plating services. The company operates in two business segments: Metal plating and Non-metal plating. Key revenue is generated from Metal plating, which includes the deposition of additional layers of metal coatings onto the surface of the intermediate metal products. It generates maximum revenue from Malaysia.
20GF Score

Get the complete analysis for XKLS:0348

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

RM0.20
Price