KLCC Property & Holdings Bhd (XKLS:5235SS) Beneish M-Score: -2.18 (As of Jun. 25, 2026)


XKLS:5235SS KLCC Property & Holdings Bhd XKLS:5235SS
87 GF Score
Price RM8.95
GF Value RM8.38
Valuation Fairly Valued
! 7 Warning Signs
View Full Analysis

What is KLCC Property & Holdings Bhd Beneish M-Score?

KLCC Property & Holdings Bhd XKLS:5235SS -0.56% 87 Beneish M-Score is -2.18 as of Jun. 25, 2026. GuruFocus rates XKLS:5235SS with a GF Score™ of 87/100 and a GF Value™ of RM8.38 (Fairly Valued). The stock has 7 warning signs investors should review. Among 765 REITs companies, KLCC Property & Holdings Bhd ranks worse than 72.94% 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 -2.18 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:5235SS' s Beneish M-Score Range Over the Past 10 Years
Min: -4.7   Med: -2.58   Max: -2.07
Current: -2.18

During the past 13 years, the highest Beneish M-Score of KLCC Property & Holdings Bhd was -2.07. The lowest was -4.70. And the median was -2.58.


KLCC Property & Holdings Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for KLCC Property & 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.

KLCC Property & Holdings Bhd Beneish M-Score Chart

KLCC Property & Holdings Bhd Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.38 -2.51 -2.64 -2.97 -2.18

KLCC Property & Holdings 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 -2.18 0.00

XKLS:5235SS vs VICI, WPC, BNL: Beneish M-Score Comparison

For the REIT - Diversified subindustry, KLCC Property & 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.


KLCC Property & Holdings Bhd Beneish M-Score vs REITs Industry

For the REITs industry and Real Estate sector, KLCC Property & Holdings Bhd's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where KLCC Property & Holdings Bhd's Beneish M-Score falls into.


XKLS:5235SS
87GF Score
KLCC Property & Holdings Bhd XKLS:5235SS
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

KLCC Property & 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 KLCC Property & 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 * 1.4051+0.528 * 1.0048+0.404 * 0.9918+0.892 * 1.0169+0.115 * 1.1478
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0152+4.679 * -0.022751-0.327 * 0.9911
=-2.18

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was RM121 Mil.
Revenue was RM1,740 Mil.
Gross Profit was RM1,251 Mil.
Total Current Assets was RM1,649 Mil.
Total Assets was RM19,238 Mil.
Property, Plant and Equipment(Net PPE) was RM548 Mil.
Depreciation, Depletion and Amortization(DDA) was RM26 Mil.
Selling, General, & Admin. Expense(SGA) was RM179 Mil.
Total Current Liabilities was RM942 Mil.
Long-Term Debt & Capital Lease Obligation was RM3,792 Mil.
Net Income was RM734 Mil.
Gross Profit was RM0 Mil.
Cash Flow from Operations was RM1,172 Mil.
Total Receivables was RM85 Mil.
Revenue was RM1,711 Mil.
Gross Profit was RM1,236 Mil.
Total Current Assets was RM1,453 Mil.
Total Assets was RM18,663 Mil.
Property, Plant and Equipment(Net PPE) was RM542 Mil.
Depreciation, Depletion and Amortization(DDA) was RM30 Mil.
Selling, General, & Admin. Expense(SGA) was RM173 Mil.
Total Current Liabilities was RM730 Mil.
Long-Term Debt & Capital Lease Obligation was RM3,905 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)
=(120.998 / 1739.82) / (84.681 / 1710.86)
=0.069546 / 0.049496
=1.4051

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)
=(1235.766 / 1710.86) / (1250.679 / 1739.82)
=0.722307 / 0.718855
=1.0048

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 - (1649.393 + 547.597) / 19237.779) / (1 - (1452.864 + 542.417) / 18663.277)
=0.885798 / 0.893091
=0.9918

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
=1739.82 / 1710.86
=1.0169

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))
=(30.008 / (30.008 + 542.417)) / (26.206 / (26.206 + 547.597))
=0.052423 / 0.045671
=1.1478

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)
=(178.672 / 1739.82) / (173.066 / 1710.86)
=0.102696 / 0.101157
=1.0152

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)
=((3792.499 + 942.455) / 19237.779) / ((3905.165 + 729.742) / 18663.277)
=0.246128 / 0.248344
=0.9911

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
=(733.833 - 0 - 1171.516) / 19237.779
=-0.022751

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.

KLCC Property & Holdings Bhd has a M-score of -2.18 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 -2.18 mean?
KLCC Property & Holdings Bhd (XKLS:5235SS) has a Beneish M-Score of -2.18 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on KLCC Property & Holdings Bhd and its competitors. According to the industry distribution chart, KLCC Property & Holdings Bhd ranks #558 out of 765 companies in the REITs industry, placing it in the top 72.9%.
Is KLCC Property & Holdings Bhd's Beneish M-Score too high?
KLCC Property & Holdings Bhd's current Beneish M-Score is -2.18. Based on the distribution chart, KLCC Property & Holdings Bhd ranks #558 out of 765 companies in the REITs industry, which is below the industry midpoint. Overall, KLCC Property & Holdings Bhd has a GF Score™ of 87/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does KLCC Property & Holdings Bhd's Beneish M-Score compare to VICI and WPC?
According to the REITs industry distribution chart, KLCC Property & Holdings Bhd ranks #558 out of 765 companies for Beneish M-Score. This places KLCC Property & 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 REITs company?
A good Beneish M-Score depends on the REITs 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 KLCC Property & Holdings Bhd and its competitors. KLCC Property & Holdings Bhd's current Beneish M-Score is -2.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is KLCC Property & Holdings Bhd stock overvalued right now?
Based on GuruFocus' analysis, KLCC Property & Holdings Bhd (XKLS:5235SS) is currently considered Fairly Valued. The stock's GF Value™ is RM8.38, compared to a current price of RM8.95 — trading 6.8% above its estimated fair value. The current Beneish M-Score is -2.18. KLCC Property & Holdings Bhd's overall GF Score™ is 87/100 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 KLCC Property & Holdings Bhd (XKLS:5235SS), the current Beneish M-Score is -2.18 as of Jun. 25, 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 KLCC Property & Holdings Bhd (XKLS:5235SS) Overvalued in 2026?

Based on GuruFocus' analysis, KLCC Property & Holdings Bhd stock appears to be overvalued. The current stock price of RM8.95 is trading 6.8% above its estimated GF Value™ of RM8.38. GuruFocus considers KLCC Property & Holdings Bhd to be Fairly Valued.

Key valuation signals for XKLS:5235SS:

  • Beneish M-Score: -2.18
  • GF Value™: RM8.38 vs. price of RM8.95 (6.8% above fair value)
  • GF Score™: 87/100 with 7 warning signs

No single metric tells the full story. See the XKLS:5235SS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


KLCC Property & Holdings Bhd Business Description

Industry Real EstateREITs
Address Jalan Sultan Hishamuddin, Levels 33 & 34, Menara Dayabumi, Kuala Lumpur, MYS, 50050
KLCC Property & Holdings Bhd is a real estate investment company engaged in the ownership, management, and redevelopment of office and retail space in Malaysia. Its property portfolio consists of offices, retail, and hotels. Through its subsidiaries, it also provides facility management services and car parking management services. Its segments are Property investment-Office, which generates maximum revenue, offers rental of office spaces; Property investment-Retail providing rental of retail spaces; Hotel operations providing rental of hotel rooms, the sale of food and beverages and other related activities; and Management services engaged in car park operations, management of a real estate investment trust and general management services. The group geographically operates in Malaysia.
87GF Score

Get the complete analysis for XKLS:5235SS

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

RM8.95
Price
RM8.38
GF Value