Johor Plantations Group Bhd (XKLS:5323) Beneish M-Score: 0.00 (As of Jun. 27, 2026)


XKLS:5323 Johor Plantations Group Bhd XKLS:5323
41 GF Score
Price RM1.81
! 7 Warning Signs
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What is Johor Plantations Group Bhd Beneish M-Score?

Johor Plantations Group Bhd XKLS:5323 +0.56% 41 Beneish M-Score is 0.00 as of Jun. 27, 2026. GuruFocus rates XKLS:5323 with a GF Score™ of 41/100. The stock has 7 warning signs investors should review. Among 1,849 Consumer Packaged Goods companies, Johor Plantations Group Bhd ranks worse than 54083.23% 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 Johor Plantations Group Bhd's Beneish M-Score or its related term are showing as below:

During the past 6 years, the highest Beneish M-Score of Johor Plantations Group Bhd was 0.00. The lowest was 0.00. And the median was 0.00.

Johor Plantations Group Bhd Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Johor Plantations 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.

Johor Plantations Group Bhd Beneish M-Score Chart

Johor Plantations Group Bhd Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial 0.00 0.00 0.00 0.00 0.00

Johor Plantations Group Bhd Quarterly Data
Dec20 Dec21 Dec22 Mar23 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 0.00 0.00 0.00 0.00 0.00

XKLS:5323 vs ADM, BG, TSN: Beneish M-Score Comparison

For the Farm Products subindustry, Johor Plantations 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.

Johor Plantations Group Bhd Beneish M-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Johor Plantations Group Bhd's Beneish M-Score distribution charts can be found below:

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


XKLS:5323
41GF Score
Johor Plantations Group Bhd XKLS:5323
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Johor Plantations 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 Johor Plantations 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 RM69 Mil.
Revenue was 356.698 + 489.817 + 496.152 + 398.29 = RM1,741 Mil.
Gross Profit was 105.52 + 176.865 + 191.938 + 141.409 = RM616 Mil.
Total Current Assets was RM734 Mil.
Total Assets was RM5,298 Mil.
Property, Plant and Equipment(Net PPE) was RM4,564 Mil.
Depreciation, Depletion and Amortization(DDA) was RM125 Mil.
Selling, General, & Admin. Expense(SGA) was RM156 Mil.
Total Current Liabilities was RM191 Mil.
Long-Term Debt & Capital Lease Obligation was RM1,626 Mil.
Net Income was 50.354 + 87.861 + 106.038 + 75.193 = RM319 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0 Mil.
Cash Flow from Operations was 11.747 + 267.465 + 162.484 + 124.467 = RM566 Mil.
 Total Receivables was RM44 Mil.
Revenue was 340.428 + 464.932 + 404.132 + 360.905 = RM1,570 Mil.
Gross Profit was 126.551 + 170.052 + 169.353 + 115.137 = RM581 Mil.
Total Current Assets was RM602 Mil.
Total Assets was RM4,867 Mil.
Property, Plant and Equipment(Net PPE) was RM4,265 Mil.
Depreciation, Depletion and Amortization(DDA) was RM119 Mil.
Selling, General, & Admin. Expense(SGA) was RM157 Mil.
Total Current Liabilities was RM144 Mil.
Long-Term Debt & Capital Lease Obligation was RM1,431 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)
=(69.08 / 1740.957) / (44.029 / 1570.397)
=0.039679 / 0.028037
=

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)
=(581.093 / 1570.397) / (615.732 / 1740.957)
=0.370029 / 0.353674
=

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 - (733.879 + 4564.321) / 5298.2) / (1 - (602.274 + 4264.751) / 4867.025)
=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
=1740.957 / 1570.397
=

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))
=(118.804 / (118.804 + 4264.751)) / (124.756 / (124.756 + 4564.321))
=0.027102 / 0.026606
=

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)
=(156.359 / 1740.957) / (157.448 / 1570.397)
=0.089812 / 0.10026
=

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)
=((1625.808 + 190.926) / 5298.2) / ((1430.867 + 143.802) / 4867.025)
=0.342896 / 0.323538
=

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
=(319.446 - 0 - 566.163) / 5298.2
=-0.046566

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?
Johor Plantations Group Bhd (XKLS:5323) has a Beneish M-Score of 0.00 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Johor Plantations Group Bhd and its competitors. According to the industry distribution chart, Johor Plantations Group Bhd ranks #999999 out of 1849 companies in the Consumer Packaged Goods industry.
Is Johor Plantations Group Bhd's Beneish M-Score too high?
Johor Plantations Group Bhd's current Beneish M-Score is 0.00. Based on the distribution chart, Johor Plantations Group Bhd ranks #999999 out of 1849 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Johor Plantations Group Bhd has a GF Score™ of 41/100, reflecting its overall financial health beyond just this single metric.
How does Johor Plantations Group Bhd's Beneish M-Score compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, Johor Plantations Group Bhd ranks #999999 out of 1849 companies for Beneish M-Score. This places Johor Plantations 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 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 Johor Plantations Group Bhd and its competitors. Johor Plantations 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 Johor Plantations Group Bhd stock overvalued right now?
Johor Plantations Group Bhd (XKLS:5323) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Johor Plantations Group Bhd's overall GF Score™ is 41/100 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 Johor Plantations Group Bhd (XKLS:5323), the current Beneish M-Score is 0.00 as of Jun. 27, 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.

Johor Plantations Group Bhd Business Description

Address K.B. 705, Ulu Tiram Estate, Ulu Tiram, Johor Bahru, JHR, MYS, 80990
Johor Plantations Group Bhd is an upstream oil palm plantation company operating predominantly in Johor, Malaysia. It owns, manages, and cultivates oil palms and harvests FFB produced on the plantation estates that it owns. The group operates in four segments: the Upstream segment includes the production of palm oil and palm kernels; the Midstream segment includes the production of bio-methane; the Downstream segment includes a palm oil mill, specialty refinery, renewable energy power plant, kernel crushing plant, and animal feed mill; and Trading and services segment includes training, trading, and other miscellaneous activities. It generates the majority of its revenue from the Upstream segment.
41GF Score

Get the complete analysis for XKLS:5323

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

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