MKH OIL PALM (EAST KALIMANTAN) Bhd (XKLS:5319) Beneish M-Score: -2.49 (As of Jul. 15, 2026)

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XKLS:5319 MKH OIL PALM (EAST KALIMANTAN) Bhd XKLS:5319
31 GF Score
Price RM0.63
! 5 Warning Signs
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What is MKH OIL PALM (EAST KALIMANTAN) Bhd Beneish M-Score?

MKH OIL PALM (EAST KALIMANTAN) Bhd XKLS:5319 31 Beneish M-Score is -2.49 as of Jul. 15, 2026. GuruFocus rates XKLS:5319 with a GF Score™ of 31/100. The stock has 5 warning signs investors should review. Among 1,849 Consumer Packaged Goods companies, MKH OIL PALM (EAST KALIMANTAN) Bhd ranks worse than 53.22% 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 -2.49 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for MKH OIL PALM (EAST KALIMANTAN) Bhd's Beneish M-Score or its related term are showing as below:

XKLS:5319' s Beneish M-Score Range Over the Past 10 Years
Min: -2.55   Med: -2.39   Max: -2.23
Current: -2.49

During the past 6 years, the highest Beneish M-Score of MKH OIL PALM (EAST KALIMANTAN) Bhd was -2.23. The lowest was -2.55. And the median was -2.39.

MKH OIL PALM (EAST KALIMANTAN) Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for MKH OIL PALM (EAST KALIMANTAN) 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.

MKH OIL PALM (EAST KALIMANTAN) Bhd Beneish M-Score Chart

MKH OIL PALM (EAST KALIMANTAN) Bhd Annual Data
Trend Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Beneish M-Score
Get a 7-Day Free Trial 0.00 0.00 0.00 0.00 -2.23

MKH OIL PALM (EAST KALIMANTAN) Bhd Quarterly Data
Sep20 Sep21 Sep22 Sep23 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 0.00 -2.28 -2.23 -2.55 -2.49

XKLS:5319 vs ADM, BG, TSN: Beneish M-Score Comparison

For the Farm Products subindustry, MKH OIL PALM (EAST KALIMANTAN) 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.

MKH OIL PALM (EAST KALIMANTAN) Bhd Beneish M-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, MKH OIL PALM (EAST KALIMANTAN) Bhd's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where MKH OIL PALM (EAST KALIMANTAN) Bhd's Beneish M-Score falls into.


XKLS:5319
31GF Score
MKH OIL PALM (EAST KALIMANTAN) Bhd XKLS:5319
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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MKH OIL PALM (EAST KALIMANTAN) 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 MKH OIL PALM (EAST KALIMANTAN) 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 * 1.0828+0.528 * 1.1174+0.404 * 1.2746+0.892 * 0.7976+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2471+4.679 * -0.016684-0.327 * 0.8802
=-2.49

* 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 RM28.8 Mil.
Revenue was 68.299 + 72.591 + 85.767 + 78.582 = RM305.2 Mil.
Gross Profit was 29.73 + 20.985 + 31.061 + 40.962 = RM122.7 Mil.
Total Current Assets was RM335.5 Mil.
Total Assets was RM640.0 Mil.
Property, Plant and Equipment(Net PPE) was RM250.0 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.0 Mil.
Selling, General, & Admin. Expense(SGA) was RM54.9 Mil.
Total Current Liabilities was RM36.7 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.5 Mil.
Net Income was 16.75 + 9.42 + 13.929 + 17.747 = RM57.8 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0.0 Mil.
Cash Flow from Operations was -6.21 + 32.401 + 11.535 + 30.797 = RM68.5 Mil.
 Total Receivables was RM33.4 Mil.
Revenue was 96.188 + 102.653 + 90.592 + 93.275 = RM382.7 Mil.
Gross Profit was 43.108 + 52.622 + 41.489 + 34.733 = RM172.0 Mil.
Total Current Assets was RM337.8 Mil.
Total Assets was RM670.4 Mil.
Property, Plant and Equipment(Net PPE) was RM287.8 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.0 Mil.
Selling, General, & Admin. Expense(SGA) was RM55.2 Mil.
Total Current Liabilities was RM43.7 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.6 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)
=(28.818 / 305.239) / (33.368 / 382.708)
=0.094411 / 0.087189
=1.0828

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)
=(171.952 / 382.708) / (122.738 / 305.239)
=0.449303 / 0.402105
=1.1174

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 - (335.525 + 250.003) / 639.969) / (1 - (337.84 + 287.787) / 670.368)
=0.085068 / 0.066741
=1.2746

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
=305.239 / 382.708
=0.7976

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 + 287.787)) / (0 / (0 + 250.003))
=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)
=(54.889 / 305.239) / (55.185 / 382.708)
=0.179823 / 0.144196
=1.2471

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)
=((0.544 + 36.728) / 639.969) / ((0.618 + 43.736) / 670.368)
=0.05824 / 0.066164
=0.8802

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
=(57.846 - 0 - 68.523) / 639.969
=-0.016684

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.

MKH OIL PALM (EAST KALIMANTAN) Bhd has a M-score of -2.49 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 -2.49 mean?
MKH OIL PALM (EAST KALIMANTAN) Bhd (XKLS:5319) has a Beneish M-Score of -2.49 as of Jul. 15, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on MKH OIL PALM (EAST KALIMANTAN) Bhd and its competitors. According to the industry distribution chart, MKH OIL PALM (EAST KALIMANTAN) Bhd ranks #984 out of 1849 companies in the Consumer Packaged Goods industry, placing it in the top 53.2%.
Is MKH OIL PALM (EAST KALIMANTAN) Bhd's Beneish M-Score too high?
MKH OIL PALM (EAST KALIMANTAN) Bhd's current Beneish M-Score is -2.49. Based on the distribution chart, MKH OIL PALM (EAST KALIMANTAN) Bhd ranks #984 out of 1849 companies in the Consumer Packaged Goods industry, which is below the industry midpoint. Overall, MKH OIL PALM (EAST KALIMANTAN) Bhd has a GF Score™ of 31/100, reflecting its overall financial health beyond just this single metric.
How does MKH OIL PALM (EAST KALIMANTAN) Bhd's Beneish M-Score compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, MKH OIL PALM (EAST KALIMANTAN) Bhd ranks #984 out of 1849 companies for Beneish M-Score. This places MKH OIL PALM (EAST KALIMANTAN) 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 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 MKH OIL PALM (EAST KALIMANTAN) Bhd and its competitors. MKH OIL PALM (EAST KALIMANTAN) Bhd's current Beneish M-Score is -2.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MKH OIL PALM (EAST KALIMANTAN) Bhd stock overvalued right now?
MKH OIL PALM (EAST KALIMANTAN) Bhd (XKLS:5319) has a current Beneish M-Score of -2.49. The current Beneish M-Score is -2.49. MKH OIL PALM (EAST KALIMANTAN) Bhd's overall GF Score™ is 31/100 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 MKH OIL PALM (EAST KALIMANTAN) Bhd (XKLS:5319), the current Beneish M-Score is -2.49 as of Jul. 15, 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.

MKH OIL PALM (EAST KALIMANTAN) Bhd Business Description

Address Jalan Semenyih, G-02 & G-03, Ground Floor, Wisma MKH, Kajang, SGR, MYS, 43000
MKH OIL PALM (EAST KALIMANTAN) Bhd is a investment holding and management services company. Through its subsidiaries, it is principally involved in the cultivation of oil palm and the production and sale of Crude Palm Oil (CPO), Palm Kernel (PK), and Crude Palm Kernel Oil (CPKO). The company's reportable operating segments are Plantation and Investment holding. A majority of its revenue is generated from the Plantation segment which is engaged in oil palm cultivation. Geographically, it derives maximum revenue from the Republic of Indonesia.
31GF Score

Get the complete analysis for XKLS:5319

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

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