Gold Li Holdings Bhd (XKLS:0452) Beneish M-Score: -2.25 (As of Jul. 13, 2026)


What is Gold Li Holdings Bhd Beneish M-Score?

Gold Li Holdings Bhd XKLS:0452 Beneish M-Score is -2.25 as of Jul. 13, 2026. The stock has 3 warning signs investors should review. Among 1,685 Real Estate companies, Gold Li Holdings Bhd ranks worse than 57.63% 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 -2.25 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:0452' s Beneish M-Score Range Over the Past 10 Years
Min: -2.25   Med: -2.25   Max: -2.25
Current: -2.25

During the past 3 years, the highest Beneish M-Score of Gold Li Holdings Bhd was -2.25. The lowest was -2.25. And the median was -2.25.

Gold Li Holdings Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Gold Li 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.

Gold Li Holdings Bhd Beneish M-Score Chart

Gold Li Holdings Bhd Annual Data
Trend Jan23 Jan24 Jan25
Beneish M-Score
0.00 0.00 -2.25

Gold Li Holdings Bhd Semi-Annual Data
Jan23 Jan24 Jan25
Beneish M-Score 0.00 0.00 -2.25

Gold Li Holdings Bhd Beneish M-Score Competitor Comparison

For the Real Estate - Development subindustry, Gold Li 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.

Gold Li Holdings Bhd Beneish M-Score vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Gold Li Holdings Bhd's Beneish M-Score distribution charts can be found below:

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


Gold Li 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 Gold Li 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 * 0.7178+0.528 * 1.155+0.404 * 0.9715+0.892 * 1.3671+0.115 * 1.5643
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9356+4.679 * 0.004992-0.327 * 1.0196
=-2.25

* 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 (Jan25) TTM:Last Year (Jan24) TTM:
Total Receivables was RM11.45 Mil.
Revenue was RM65.03 Mil.
Gross Profit was RM17.21 Mil.
Total Current Assets was RM132.38 Mil.
Total Assets was RM205.72 Mil.
Property, Plant and Equipment(Net PPE) was RM2.00 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.31 Mil.
Selling, General, & Admin. Expense(SGA) was RM2.23 Mil.
Total Current Liabilities was RM74.85 Mil.
Long-Term Debt & Capital Lease Obligation was RM24.25 Mil.
Net Income was RM7.84 Mil.
Gross Profit was RM0.00 Mil.
Cash Flow from Operations was RM6.82 Mil.
 Total Receivables was RM11.67 Mil.
Revenue was RM47.57 Mil.
Gross Profit was RM14.54 Mil.
Total Current Assets was RM121.99 Mil.
Total Assets was RM191.89 Mil.
Property, Plant and Equipment(Net PPE) was RM1.40 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.37 Mil.
Selling, General, & Admin. Expense(SGA) was RM1.74 Mil.
Total Current Liabilities was RM65.96 Mil.
Long-Term Debt & Capital Lease Obligation was RM24.70 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)
=(11.453 / 65.026) / (11.672 / 47.566)
=0.17613 / 0.245385
=0.7178

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)
=(14.539 / 47.566) / (17.209 / 65.026)
=0.30566 / 0.264648
=1.155

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 - (132.375 + 2.001) / 205.715) / (1 - (121.994 + 1.398) / 191.888)
=0.346786 / 0.356958
=0.9715

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
=65.026 / 47.566
=1.3671

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))
=(0.366 / (0.366 + 1.398)) / (0.306 / (0.306 + 2.001))
=0.207483 / 0.13264
=1.5643

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)
=(2.228 / 65.026) / (1.742 / 47.566)
=0.034263 / 0.036623
=0.9356

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)
=((24.249 + 74.85) / 205.715) / ((24.701 + 65.964) / 191.888)
=0.48173 / 0.472489
=1.0196

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
=(7.843 - 0 - 6.816) / 205.715
=0.004992

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.

Gold Li Holdings Bhd has a M-score of -2.25 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 -2.25 mean?
Gold Li Holdings Bhd (XKLS:0452) has a Beneish M-Score of -2.25 as of Jul. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Gold Li Holdings Bhd and its competitors. According to the industry distribution chart, Gold Li Holdings Bhd ranks #971 out of 1685 companies in the Real Estate industry, placing it in the top 57.6%.
Is Gold Li Holdings Bhd's Beneish M-Score too high?
Gold Li Holdings Bhd's current Beneish M-Score is -2.25. Based on the distribution chart, Gold Li Holdings Bhd ranks #971 out of 1685 companies in the Real Estate industry, which is below the industry midpoint.
How does Gold Li Holdings Bhd's Beneish M-Score compare to competitors?
According to the Real Estate industry distribution chart, Gold Li Holdings Bhd ranks #971 out of 1685 companies for Beneish M-Score. This places Gold Li 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 Real Estate company?
A good Beneish M-Score depends on the Real Estate 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 Gold Li Holdings Bhd and its competitors. Gold Li Holdings Bhd's current Beneish M-Score is -2.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Gold Li Holdings Bhd stock overvalued right now?
Gold Li Holdings Bhd (XKLS:0452) has a current Beneish M-Score of -2.25. The current Beneish M-Score is -2.25. 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 Gold Li Holdings Bhd (XKLS:0452), the current Beneish M-Score is -2.25 as of Jul. 13, 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.

Gold Li Holdings Bhd Business Description

Address 1201-6, Jalan Perniagaan Jaya 5, Pusat Perniagaan Mas Jaya, Muar, JHR, MYS, 84000
Gold Li Holdings Bhd is principally engaged in investment holding and provision of management services. Through its subsidiaries, the company is a property developer, specialising in the development of landed residential properties, located in the districts of Muar, Tangkak and Batu Pahat in the state of Johor, Malaysia. Its residential property developments comprise terrace, semi-detached and detached houses. The company operates predominantly in one business segment in Malaysia, namely property developer which comprises development of residential and commercial properties. Its revenue is mainly derived from the sale of ongoing property developments and completed developments.