See Hup Consolidated Bhd (XKLS:7053) Beneish M-Score : -2.94 (As of Apr. 09, 2025)

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What is See Hup Consolidated Bhd Beneish M-Score?

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 -2.94 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for See Hup Consolidated Bhd's Beneish M-Score or its related term are showing as below:

XKLS:7053' s Beneish M-Score Range Over the Past 10 Years
Min: -3.26 Med: -2.48 Max: -1.43
Current: -2.94

During the past 13 years, the highest Beneish M-Score of See Hup Consolidated Bhd was -1.43. The lowest was -3.26. And the median was -2.48.

See Hup Consolidated Bhd Beneish M-Score Historical Data

The historical data trend for See Hup Consolidated 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.

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See Hup Consolidated Bhd Beneish M-Score Chart

See Hup Consolidated Bhd Annual Data

Trend

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Beneish M-Score

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-2.83

-2.74

-1.43

-2.57

-2.94

See Hup Consolidated Bhd Quarterly Data
	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24
Beneish M-Score	Get a 7-Day Free Trial															-	-2.94	-	-	-

Competitive Comparison of See Hup Consolidated Bhd's Beneish M-Score

For the Integrated Freight & Logistics subindustry, See Hup Consolidated 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.

See Hup Consolidated Bhd's Beneish M-Score Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, See Hup Consolidated Bhd's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where See Hup Consolidated Bhd's Beneish M-Score falls into.

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See Hup Consolidated 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 See Hup Consolidated Bhd for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.0824

0.528 * 1.043

0.404 * 0.6297

0.892 * 1.0003

0.115 * 1.0098

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.092601

0.327 * 0.9384

-2.94

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was RM30.1 Mil.
Revenue was RM124.8 Mil.
Gross Profit was RM88.5 Mil.
Total Current Assets was RM54.3 Mil.
Total Assets was RM132.1 Mil.
Property, Plant and Equipment(Net PPE) was RM64.7 Mil.
Depreciation, Depletion and Amortization(DDA) was RM8.2 Mil.
Selling, General, & Admin. Expense(SGA) was RM0.0 Mil.
Total Current Liabilities was RM27.1 Mil.
Long-Term Debt & Capital Lease Obligation was RM20.8 Mil.
Net Income was RM-3.9 Mil.
Gross Profit was RM0.0 Mil.
Cash Flow from Operations was RM8.4 Mil.

Total Receivables was RM27.8 Mil.
Revenue was RM124.8 Mil.
Gross Profit was RM92.3 Mil.
Total Current Assets was RM60.2 Mil.
Total Assets was RM145.3 Mil.
Property, Plant and Equipment(Net PPE) was RM62.1 Mil.
Depreciation, Depletion and Amortization(DDA) was RM8.0 Mil.
Selling, General, & Admin. Expense(SGA) was RM0.0 Mil.
Total Current Liabilities was RM33.4 Mil.
Long-Term Debt & Capital Lease Obligation was RM22.8 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)
	=	(30.062 / 124.832)	/	(27.764 / 124.79)
	=	0.24082	/	0.222486
	=	1.0824

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)
	=	(92.282 / 124.79)	/	(88.506 / 124.832)
	=	0.739498	/	0.709001
	=	1.043

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 - (54.269 + 64.722) / 132.115)	/	(1 - (60.224 + 62.136) / 145.28)
	=	0.099338	/	0.157764
	=	0.6297

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
	=	124.832	/	124.79
	=	1.0003

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))
	=	(7.981 / (7.981 + 62.136))	/	(8.222 / (8.222 + 64.722))
	=	0.113824	/	0.112717
	=	1.0098

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)
	=	(0 / 124.832)	/	(0 / 124.79)
	=	0	/	0
	=	1

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)
	=	((20.817 + 27.114) / 132.115)	/	((22.77 + 33.399) / 145.28)
	=	0.362798	/	0.386626
	=	0.9384

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
	=	(-3.884 - 0	-	8.35)	/	132.115
	=	-0.092601

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.

See Hup Consolidated Bhd has a M-score of -2.94 suggests that the company is unlikely to be a manipulator.

See Hup Consolidated Bhd Beneish M-Score Related Terms

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See Hup Consolidated Bhd Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » See Hup Consolidated Bhd (XKLS:7053) » Definitions » Beneish M-Score

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Traded in Other Exchanges

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Address

No. 1062 Jalan Perusahaan Perai, Mukim 6,Kawasan Perusahaan Perai, Perai, PNG, MYS, 13600

Website

http://www.seehup.com.my

See Hup Consolidated Bhd is an investment holding company. It is engaged in providing transportation and logistics services. The company's operating segments are Transportation and logistics services; Trading in general merchandise; Construction contracts and Others. It generates maximum revenue from the Transportation and logistics services segment. The Transportation and logistics services segment includes general cargo transporter, freight forwarding agent, the hiring of cranes, forklifts, heavy equipment, and machinery, and provision of bonded warehouse and bonded trucks services, container haulage, and bulk cargo handling services.

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