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 -2.68 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Ta Ann Holdings Bhd's Beneish M-Score or its related term are showing as below:
XKLS:5012'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.29 Med: -2.57 Max: -1.36
Current: -2.68
During the past 13 years, the highest Beneish M-Score of Ta Ann Holdings Bhd was -1.36. The lowest was -3.29. And the median was -2.57.
Ta Ann Holdings Bhd Beneish M-Score Related Terms
Ta Ann Holdings Bhd Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Ta Ann 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.
XKLS:5012 vs ADM, BG, TSN: Beneish M-Score Comparison
For the Farm Products subindustry, Ta Ann 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.
Ta Ann Holdings Bhd Beneish M-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Ta Ann Holdings Bhd's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Ta Ann Holdings Bhd's Beneish M-Score falls into.
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 Ta Ann 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 * 0.9391
+
0.528 * 0.9646
+
0.404 * 0.9902
+
0.892 * 1.1357
+
0.115 * 0.9669
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9426
+
4.679 * -0.035679
-
0.327 * 1.2437
=
-2.68
* 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.
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.
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))
=
(89.761 / (89.761 + 1371.233))
/
(91.168 / (91.168 + 1343.588))
=
0.061438
/
0.063543
=
0.9669
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
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
=
(226.939 - 0
-
328.231)
/
2838.947
=
-0.035679
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.
Ta Ann Holdings Bhd has a M-score of -2.68 suggests that the company is unlikely to be a manipulator.
Ta Ann Holdings Bhd (XKLS:5012) has a Beneish M-Score of -2.68 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ta Ann Holdings Bhd and its competitors. According to the industry distribution chart, Ta Ann Holdings Bhd ranks #667 out of 1849 companies in the Consumer Packaged Goods industry, placing it in the top 36.1%.
Is Ta Ann Holdings Bhd's Beneish M-Score too high?
Ta Ann Holdings Bhd's current Beneish M-Score is -2.68. Based on the distribution chart, Ta Ann Holdings Bhd ranks #667 out of 1849 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, Ta Ann Holdings Bhd has a GF Score™ of 85/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ta Ann Holdings Bhd's Beneish M-Score compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, Ta Ann Holdings Bhd ranks #667 out of 1849 companies for Beneish M-Score. This puts Ta Ann Holdings Bhd in the upper 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 Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 Ta Ann Holdings Bhd and its competitors. Ta Ann Holdings Bhd's current Beneish M-Score is -2.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ta Ann Holdings Bhd stock overvalued right now?
Based on GuruFocus' analysis, Ta Ann Holdings Bhd (XKLS:5012) is currently considered Modestly Overvalued. The stock's GF Value™ is RM4.49, compared to a current price of RM5.22 — trading 16.3% above its estimated fair value. The current Beneish M-Score is -2.68. Ta Ann Holdings Bhd's overall GF Score™ is 85/100 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 Ta Ann Holdings Bhd (XKLS:5012), the current Beneish M-Score is -2.68 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.
Is Ta Ann Holdings Bhd (XKLS:5012) Overvalued in 2026?
Based on GuruFocus' analysis, Ta Ann Holdings Bhd stock appears to be overvalued.
The current stock price of RM5.22 is trading 16.3% above its estimated GF Value™ of RM4.49.
GuruFocus considers Ta Ann Holdings Bhd to be Modestly Overvalued.
Key valuation signals for XKLS:5012:
Beneish M-Score: -2.68
GF Value™: RM4.49 vs. price of RM5.22 (16.3% above fair value)
No single metric tells the full story. See the XKLS:5012 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ta Ann Holdings Bhd is an investment holding company in Malaysia, leasing premises and providing management services to its subsidiaries. The company is organized into three segments: Timber Products, Plantations, which generates the majority of revenue, and Others. Timber Products include trading of logs, manufacture, and sale of sawn timber, veneer, plywood, and other timber products from timber concession licenses, as well as reforestation plantations activities. The Plantations segment includes oil palm plantations and milling activities. Others include property development, investment, livestock, and agricultural production. The company's geographical segments are Malaysia, Japan, India, and Other countries.
85GF Score
Get the complete analysis for XKLS:5012
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
XKLS:5012 has been successfully added to your 
