Sinaran Advance Group Bhd (XKLS:5172) Beneish M-Score: 0.00 (As of Jul. 06, 2026)


XKLS:5172 Sinaran Advance Group Bhd XKLS:5172
31 GF Score
Price RM0.11
GF Value RM0.02
Valuation Significantly Overvalued
! 7 Warning Signs
View Full Analysis

What is Sinaran Advance Group Bhd Beneish M-Score?

Sinaran Advance Group Bhd XKLS:5172 31 Beneish M-Score is 0.00 as of Jul. 06, 2026. GuruFocus rates XKLS:5172 with a GF Score™ of 31/100 and a GF Value™ of RM0.02 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 996 Manufacturing - Apparel & Accessories companies, Sinaran Advance Group Bhd ranks worse than 100401.51% 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 Sinaran Advance Group Bhd's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Sinaran Advance Group Bhd was -0.78. The lowest was -31.53. And the median was -3.44.

Sinaran Advance Group Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Sinaran Advance Group 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.

Sinaran Advance Group Bhd Beneish M-Score Chart

Sinaran Advance Group Bhd Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
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Sinaran Advance Group Bhd Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 0.00 0.00 0.00 0.00 0.00

XKLS:5172 vs NKE, DECK, ONON: Beneish M-Score Comparison

For the Footwear & Accessories subindustry, Sinaran Advance Group 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.

Sinaran Advance Group Bhd Beneish M-Score vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Sinaran Advance Group Bhd's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Sinaran Advance Group Bhd's Beneish M-Score falls into.


XKLS:5172
31GF Score
Sinaran Advance Group Bhd XKLS:5172
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Sinaran Advance Group 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 Sinaran Advance Group 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was RM5.27 Mil.
Revenue was 2.113 + 0.155 + 2.656 + 4.873 = RM9.80 Mil.
Gross Profit was 0.066 + 0.011 + -1.736 + 2.317 = RM0.66 Mil.
Total Current Assets was RM17.05 Mil.
Total Assets was RM17.14 Mil.
Property, Plant and Equipment(Net PPE) was RM0.09 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.04 Mil.
Selling, General, & Admin. Expense(SGA) was RM3.90 Mil.
Total Current Liabilities was RM2.40 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.05 Mil.
Net Income was -0.538 + -1.647 + -1.38 + -1.263 = RM-4.83 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.00 Mil.
Cash Flow from Operations was -1.628 + 2.067 + -0.276 + -3.225 = RM-3.06 Mil.
 Total Receivables was RM3.98 Mil.
Revenue was 2.949 + 2.158 + 3.36 + 2.86 = RM11.33 Mil.
Gross Profit was 0.212 + 0.074 + 0.057 + 0.176 = RM0.52 Mil.
Total Current Assets was RM17.04 Mil.
Total Assets was RM17.16 Mil.
Property, Plant and Equipment(Net PPE) was RM0.12 Mil.
Depreciation, Depletion and Amortization(DDA) was RM1.67 Mil.
Selling, General, & Admin. Expense(SGA) was RM6.21 Mil.
Total Current Liabilities was RM1.93 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.07 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)
=(5.273 / 9.797) / (3.977 / 11.327)
=0.538226 / 0.351108
=

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)
=(0.519 / 11.327) / (0.658 / 9.797)
=0.04582 / 0.067163
=

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 - (17.047 + 0.093) / 17.14) / (1 - (17.043 + 0.12) / 17.163)
=0 / 0
=

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
=9.797 / 11.327
=

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))
=(1.671 / (1.671 + 0.12)) / (0.043 / (0.043 + 0.093))
=0.932998 / 0.316176
=

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)
=(3.895 / 9.797) / (6.206 / 11.327)
=0.397571 / 0.547894
=

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)
=((0.053 + 2.398) / 17.14) / ((0.074 + 1.927) / 17.163)
=0.142999 / 0.116588
=

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
=(-4.828 - 0 - -3.062) / 17.14
=-0.103034

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Sinaran Advance Group Bhd (XKLS:5172) 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 Sinaran Advance Group Bhd and its competitors. According to the industry distribution chart, Sinaran Advance Group Bhd ranks #999999 out of 996 companies in the Manufacturing - Apparel & Accessories industry.
Is Sinaran Advance Group Bhd's Beneish M-Score too high?
Sinaran Advance Group Bhd's current Beneish M-Score is 0.00. Based on the distribution chart, Sinaran Advance Group Bhd ranks #999999 out of 996 companies in the Manufacturing - Apparel & Accessories industry, which is in the bottom quartile relative to peers. Overall, Sinaran Advance Group Bhd has a GF Score™ of 31/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Sinaran Advance Group Bhd's Beneish M-Score compare to NKE and DECK?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Sinaran Advance Group Bhd ranks #999999 out of 996 companies for Beneish M-Score. This places Sinaran Advance Group 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 Manufacturing - Apparel & Accessories company?
A good Beneish M-Score depends on the Manufacturing - Apparel & Accessories 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 Sinaran Advance Group Bhd and its competitors. Sinaran Advance Group 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 Sinaran Advance Group Bhd stock overvalued right now?
Based on GuruFocus' analysis, Sinaran Advance Group Bhd (XKLS:5172) is currently considered Significantly Overvalued. The stock's GF Value™ is RM0.02, compared to a current price of RM0.11 — trading 450% above its estimated fair value. The current Beneish M-Score is 0.00. Sinaran Advance Group Bhd's overall GF Score™ is 31/100 with 7 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 Sinaran Advance Group Bhd (XKLS:5172), 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.

Is Sinaran Advance Group Bhd (XKLS:5172) Overvalued in 2026?

Based on GuruFocus' analysis, Sinaran Advance Group Bhd stock appears to be overvalued. The current stock price of RM0.11 is trading 450% above its estimated GF Value™ of RM0.02. GuruFocus considers Sinaran Advance Group Bhd to be Significantly Overvalued.

Key valuation signals for XKLS:5172:

  • Beneish M-Score: 0.00
  • GF Value™: RM0.02 vs. price of RM0.11 (450% above fair value)
  • GF Score™: 31/100 with 7 warning signs

No single metric tells the full story. See the XKLS:5172 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Sinaran Advance Group Bhd Business Description

Address Menara Lien Hoe, No. 8, 13.3A,13th Floor, Persiaran Tropicana, Petaling Jaya, SGR, MYS, 47410
Sinaran Advance Group Bhd engages in the design, manufacture, distribution, and sale of sports footwear and sports apparel. It offers athletic footwear designed for sporting activities, such as running, tennis, basketball, and mountain climbing, as well as leisure footwear, as well as original equipment manufacturing and original design manufacturing services. The company is also an original equipment manufacturer and original design manufacturer for sports brands, including Umbro, Diadora, Kappa, Le Coq Sportif, Canguro, Die Wilden Kerle, Cosby, Bridgestone, Prince, and Master Bunny. Its operating segment includes Sports footwear, Construction, and others. The company generates maximum revenue from the Construction segment.
31GF Score

Get the complete analysis for XKLS:5172

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

RM0.11
Price
RM0.02
GF Value