Coastal Contracts Bhd (XKLS:5071) Beneish M-Score : -0.22 (As of Apr. 07, 2025)

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What is Coastal Contracts Bhd Beneish M-Score?

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.

Warning Sign:

Beneish M-Score -0.22 higher than -1.78, which implies that the company might have manipulated its financial results.

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

XKLS:5071' s Beneish M-Score Range Over the Past 10 Years
Min: -3.88 Med: -2.53 Max: 53.84
Current: -0.22

During the past 13 years, the highest Beneish M-Score of Coastal Contracts Bhd was 53.84. The lowest was -3.88. And the median was -2.53.

Coastal Contracts Bhd Beneish M-Score Historical Data

The historical data trend for Coastal Contracts 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.

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Coastal Contracts Bhd Beneish M-Score Chart

Coastal Contracts Bhd Annual Data

Trend

Dec13

Dec14

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Dec24

Beneish M-Score

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-3.44

-3.37

-3.21

53.84

-0.22

Coastal Contracts Bhd Quarterly Data
	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Sep23	Mar24	Jun24	Sep24	Dec24
Beneish M-Score	Get a 7-Day Free Trial															-0.71	-1.31	-1.38	-1.39	-0.22

Competitive Comparison of Coastal Contracts Bhd's Beneish M-Score

For the Oil & Gas Equipment & Services subindustry, Coastal Contracts 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.

Coastal Contracts Bhd's Beneish M-Score Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Coastal Contracts Bhd's Beneish M-Score distribution charts can be found below:

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

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Coastal Contracts 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 Coastal Contracts Bhd for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.3078

0.528 * 6.612

0.404 * 0.931

0.892 * 0.3405

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 2.8328

4.679 * 0.139076

0.327 * 0.3555

-0.22

This Year (Dec24) TTM:

Last Year (Sep23) TTM:

Total Receivables was RM120.65 Mil.
Revenue was 39.568 + 6.271 + 14.122 + 17.803 = RM77.76 Mil.
Gross Profit was 4.061 + -6.212 + 1.72 + 4.888 = RM4.46 Mil.
Total Current Assets was RM1,275.34 Mil.
Total Assets was RM1,889.34 Mil.
Property, Plant and Equipment(Net PPE) was RM348.53 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.00 Mil.
Selling, General, & Admin. Expense(SGA) was RM21.28 Mil.
Total Current Liabilities was RM84.01 Mil.
Long-Term Debt & Capital Lease Obligation was RM1.87 Mil.
Net Income was 103.519 + -49.073 + 13.648 + 94.86 = RM162.95 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.00 Mil.
Cash Flow from Operations was -19.963 + -52.645 + -12.296 + -14.904 = RM-99.81 Mil.

Total Receivables was RM1,151.42 Mil.
Revenue was 58.363 + 55.736 + 62.354 + 51.943 = RM228.40 Mil.
Gross Profit was 21.973 + 22.984 + 26.139 + 15.457 = RM86.55 Mil.
Total Current Assets was RM1,353.80 Mil.
Total Assets was RM2,174.89 Mil.
Property, Plant and Equipment(Net PPE) was RM492.86 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.00 Mil.
Selling, General, & Admin. Expense(SGA) was RM22.07 Mil.
Total Current Liabilities was RM242.06 Mil.
Long-Term Debt & Capital Lease Obligation was RM36.03 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)
	=	(120.65 / 77.764)	/	(1151.423 / 228.396)
	=	1.551489	/	5.041345
	=	0.3078

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)
	=	(86.553 / 228.396)	/	(4.457 / 77.764)
	=	0.37896	/	0.057314
	=	6.612

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 - (1275.335 + 348.531) / 1889.342)	/	(1 - (1353.798 + 492.861) / 2174.891)
	=	0.140512	/	0.150919
	=	0.931

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
	=	77.764	/	228.396
	=	0.3405

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 / (0 + 492.861))	/	(0 / (0 + 348.531))
	=	0	/	0
	=	1

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)
	=	(21.282 / 77.764)	/	(22.065 / 228.396)
	=	0.273674	/	0.096609
	=	2.8328

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)
	=	((1.871 + 84.005) / 1889.342)	/	((36.031 + 242.055) / 2174.891)
	=	0.045453	/	0.127862
	=	0.3555

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
	=	(162.954 - 0	-	-99.808)	/	1889.342
	=	0.139076

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.

Coastal Contracts Bhd has a M-score of -0.22 signals that the company is likely to be a manipulator.

Coastal Contracts Bhd Beneish M-Score Related Terms

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Coastal Contracts Bhd Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Coastal Contracts Bhd (XKLS:5071) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

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Address

Block G, W.D.T. 259, Lot 3B, Bandar Leila, Sandakan, SBH, MYS, 90009

Website

https://www.coastalcontracts.com

Coastal Contracts Bhd provides marine products and services to the shipping, oil and gas, and commodities industries. Along with its subsidiaries, it operates in the following segments; Gas processing which provides onshore gas conditioning and jack-up gas compression services; Vessels manufacturing and repairing services segment which is engaged in the fabrication and sale of offshore support and marine transportation vessels, and provision of ship repairs and maintenance services; and the Vessels chartering and equipment hire segment which provides vessels transportation and equipment hiring services. Maximum revenue for the company is generated from the Gas processing segment. Geographically, it derives key revenue from Mexico followed by China, Malaysia, Saudi Arabia, and others.

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