Ho Hup Construction Co Bhd (XKLS:5169) Beneish M-Score: 0.00 (As of Jul. 06, 2026)


What is Ho Hup Construction Co Bhd Beneish M-Score?

Ho Hup Construction Co Bhd XKLS:5169 Beneish M-Score is 0.00 as of Jul. 06, 2026. Among 1,700 Construction companies, Ho Hup Construction Co Bhd ranks better than 99.71% 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 Ho Hup Construction Co Bhd's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Ho Hup Construction Co Bhd was 0.00. The lowest was 0.00. And the median was 0.00.

Ho Hup Construction Co Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Ho Hup Construction Co 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.

Ho Hup Construction Co Bhd Beneish M-Score Chart

Ho Hup Construction Co Bhd Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.31 -1.95 -1.43 -2.29 -3.12

Ho Hup Construction Co Bhd Quarterly Data
Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -3.28 -2.39 -3.86 -3.19 -22.88

XKLS:5169 vs PWR, FIX, EME: Beneish M-Score Comparison

For the Engineering & Construction subindustry, Ho Hup Construction Co 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.

Ho Hup Construction Co Bhd Beneish M-Score vs Construction Industry

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

* The bar in red indicates where Ho Hup Construction Co Bhd's Beneish M-Score falls into.


Ho Hup Construction Co 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 Ho Hup Construction Co 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 * 0.613+0.528 * 0.3252+0.404 * 4.4795+0.892 * 0.1556+0.115 * 0.5203
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 3.2482+4.679 * -4.119659-0.327 * 2.9168
=-22.88

* 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 (Jun25) TTM:Last Year (Jun24) TTM:
Total Receivables was RM28.51 Mil.
Revenue was 2.306 + 2.293 + 6.351 + 4.613 = RM15.56 Mil.
Gross Profit was 2.272 + 2.255 + 2.294 + 2.65 = RM9.47 Mil.
Total Current Assets was RM31.90 Mil.
Total Assets was RM133.65 Mil.
Property, Plant and Equipment(Net PPE) was RM0.65 Mil.
Depreciation, Depletion and Amortization(DDA) was RM2.98 Mil.
Selling, General, & Admin. Expense(SGA) was RM9.76 Mil.
Total Current Liabilities was RM276.88 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.16 Mil.
Net Income was -275.903 + -27.196 + -113.8 + -18.66 = RM-435.56 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.00 Mil.
Cash Flow from Operations was 0 + 0 + 114.039 + 0.978 = RM115.02 Mil.
 Total Receivables was RM298.75 Mil.
Revenue was 21.744 + 19.688 + 15.71 + 42.849 = RM99.99 Mil.
Gross Profit was 7.294 + 4.785 + -4.78 + 12.488 = RM19.79 Mil.
Total Current Assets was RM889.76 Mil.
Total Assets was RM1,098.94 Mil.
Property, Plant and Equipment(Net PPE) was RM23.59 Mil.
Depreciation, Depletion and Amortization(DDA) was RM17.60 Mil.
Selling, General, & Admin. Expense(SGA) was RM19.31 Mil.
Total Current Liabilities was RM651.91 Mil.
Long-Term Debt & Capital Lease Obligation was RM129.09 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)
=(28.505 / 15.563) / (298.749 / 99.991)
=1.831588 / 2.987759
=0.613

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)
=(19.787 / 99.991) / (9.471 / 15.563)
=0.197888 / 0.608559
=0.3252

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 - (31.896 + 0.65) / 133.646) / (1 - (889.762 + 23.591) / 1098.937)
=0.756476 / 0.168876
=4.4795

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
=15.563 / 99.991
=0.1556

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))
=(17.596 / (17.596 + 23.591)) / (2.984 / (2.984 + 0.65))
=0.427222 / 0.821134
=0.5203

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)
=(9.76 / 15.563) / (19.305 / 99.991)
=0.627128 / 0.193067
=3.2482

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)
=((0.16 + 276.883) / 133.646) / ((129.089 + 651.912) / 1098.937)
=2.072961 / 0.710688
=2.9168

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
=(-435.559 - 0 - 115.017) / 133.646
=-4.119659

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.

Ho Hup Construction Co Bhd has a M-score of -22.88 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?
Ho Hup Construction Co Bhd (XKLS:5169) has a Beneish M-Score of 0.00 as of Jul. 06, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ho Hup Construction Co Bhd and its competitors. According to the industry distribution chart, Ho Hup Construction Co Bhd ranks #5 out of 1700 companies in the Construction industry, placing it in the top 0.3%.
Is Ho Hup Construction Co Bhd's Beneish M-Score too high?
Ho Hup Construction Co Bhd's current Beneish M-Score is 0.00. Based on the distribution chart, Ho Hup Construction Co Bhd ranks #5 out of 1700 companies in the Construction industry, which is in the top quartile — a strong position relative to peers.
How does Ho Hup Construction Co Bhd's Beneish M-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Ho Hup Construction Co Bhd ranks #5 out of 1700 companies for Beneish M-Score. This places Ho Hup Construction Co Bhd in the top 0% of its industry — outperforming the majority of peers. 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 Ho Hup Construction Co Bhd and its competitors. Ho Hup Construction Co 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 Ho Hup Construction Co Bhd stock overvalued right now?
Ho Hup Construction Co Bhd (XKLS:5169) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. 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 Ho Hup Construction Co Bhd (XKLS:5169), the current Beneish M-Score is 0.00 as of Jul. 06, 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.

Ho Hup Construction Co Bhd Business Description

Address Jalan Persiaran Jalil 1, No.1, Level 18, Ho Hup Tower, Bandar Bukit Jalil, Kuala Lumpur, MYS, 57000
Ho Hup Construction Co Bhd provides construction and related services. The operating business segments of the group are Construction, Property development, Building materials, and Others. The majority of its revenue is generated from the Property development segment, which is engaged in the development of residential and commercial properties. The Construction segment is involved in foundation and civil engineering, building contracting works and engineering, procurement, construction, and commissioning of pipeline systems; the Building materials segment manufactures ready-mixed concrete and quarry; and the Others segment includes trading services and asset and retail management. Substantially all the group's revenue is derived from Malaysia.