Inspace Creation Bhd (XKLS:0451) Beneish M-Score: 0.00 (As of Jun. 25, 2026)


XKLS:0451 Inspace Creation Bhd XKLS:0451
18 GF Score
Price RM0.23
! 1 Warning Sign
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What is Inspace Creation Bhd Beneish M-Score?

Inspace Creation Bhd XKLS:0451 18 Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus rates XKLS:0451 with a GF Score™ of 18/100. The stock has 1 warning sign investors should review. Among 1,704 Construction companies, Inspace Creation Bhd ranks worse than 58685.39% 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 Inspace Creation Bhd's Beneish M-Score or its related term are showing as below:

During the past 4 years, the highest Beneish M-Score of Inspace Creation Bhd was 0.00. The lowest was 0.00. And the median was 0.00.

Inspace Creation Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Inspace Creation 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.

Inspace Creation Bhd Beneish M-Score Chart

Inspace Creation Bhd Annual Data
Trend Nov22 Nov23 Nov24 Nov25
Beneish M-Score
0.00 0.00 0.00 0.00

Inspace Creation Bhd Semi-Annual Data
Nov22 Nov23 Nov24 Nov25
Beneish M-Score 0.00 0.00 0.00 0.00

XKLS:0451 vs PWR, FIX, EME: Beneish M-Score Comparison

For the Engineering & Construction subindustry, Inspace Creation 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.

Inspace Creation Bhd Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, Inspace Creation Bhd's Beneish M-Score distribution charts can be found below:

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


XKLS:0451
18GF Score
Inspace Creation Bhd XKLS:0451
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Inspace Creation 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 Inspace Creation 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 * 0.5458+0.528 * 0.9004+0.404 * 0.8224+0.892 * 1.3612+0.115 * 0.8046
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0979+4.679 * -0.059113-0.327 * 0.4913
=-2.85

* 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 (Nov25) TTM:Last Year (Nov24) TTM:
Total Receivables was RM19.66 Mil.
Revenue was RM78.60 Mil.
Gross Profit was RM24.15 Mil.
Total Current Assets was RM40.99 Mil.
Total Assets was RM47.76 Mil.
Property, Plant and Equipment(Net PPE) was RM2.75 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.65 Mil.
Selling, General, & Admin. Expense(SGA) was RM1.60 Mil.
Total Current Liabilities was RM16.06 Mil.
Long-Term Debt & Capital Lease Obligation was RM2.04 Mil.
Net Income was RM8.11 Mil.
Gross Profit was RM0.00 Mil.
Cash Flow from Operations was RM10.94 Mil.
 Total Receivables was RM26.46 Mil.
Revenue was RM57.75 Mil.
Gross Profit was RM15.97 Mil.
Total Current Assets was RM35.29 Mil.
Total Assets was RM42.44 Mil.
Property, Plant and Equipment(Net PPE) was RM2.81 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.51 Mil.
Selling, General, & Admin. Expense(SGA) was RM1.07 Mil.
Total Current Liabilities was RM26.98 Mil.
Long-Term Debt & Capital Lease Obligation was RM5.74 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)
=(19.662 / 78.603) / (26.464 / 57.745)
=0.250143 / 0.458291
=0.5458

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)
=(15.974 / 57.745) / (24.15 / 78.603)
=0.27663 / 0.30724
=0.9004

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 - (40.991 + 2.747) / 47.756) / (1 - (35.292 + 2.808) / 42.442)
=0.084136 / 0.102304
=0.8224

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
=78.603 / 57.745
=1.3612

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))
=(0.511 / (0.511 + 2.808)) / (0.65 / (0.65 + 2.747))
=0.153962 / 0.191345
=0.8046

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)
=(1.596 / 78.603) / (1.068 / 57.745)
=0.020305 / 0.018495
=1.0979

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)
=((2.037 + 16.055) / 47.756) / ((5.741 + 26.984) / 42.442)
=0.378842 / 0.771052
=0.4913

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
=(8.112 - 0 - 10.935) / 47.756
=-0.059113

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.

Inspace Creation Bhd has a M-score of -2.85 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 0.00 mean?
Inspace Creation Bhd (XKLS:0451) has a Beneish M-Score of 0.00 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Inspace Creation Bhd and its competitors. According to the industry distribution chart, Inspace Creation Bhd ranks #999999 out of 1704 companies in the Construction industry.
Is Inspace Creation Bhd's Beneish M-Score too high?
Inspace Creation Bhd's current Beneish M-Score is 0.00. Based on the distribution chart, Inspace Creation Bhd ranks #999999 out of 1704 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, Inspace Creation Bhd has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Inspace Creation Bhd's Beneish M-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Inspace Creation Bhd ranks #999999 out of 1704 companies for Beneish M-Score. This places Inspace Creation 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 Construction company?
A good Beneish M-Score depends on the Construction 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 Inspace Creation Bhd and its competitors. Inspace Creation 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 Inspace Creation Bhd stock overvalued right now?
Inspace Creation Bhd (XKLS:0451) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Inspace Creation Bhd's overall GF Score™ is 18/100 with 1 warning sign 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 Inspace Creation Bhd (XKLS:0451), the current Beneish M-Score is 0.00 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.

Inspace Creation Bhd Business Description

Inspace Creation Bhd is an investment holding company. Through its subsidiaries, the company is principally involved in the provision of interior fitting-out services, which include project planning and management, design conceptualisation and build as well as servicing and maintenance works. The company's offerings include project planning and management, design, construction, and maintenance works. Its services are focused on commercial offices and related spaces. It operates in a single industry segment of interior fitting-out services, including project management. The company's revenue was derived entirely from the provision of interior fitting-out services. Geographically, it operates predominantly in Malaysia.
18GF Score

Get the complete analysis for XKLS:0451

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

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