MyTech Group Bhd (XKLS:7692) Beneish M-Score : -2.40 (As of Apr. 09, 2025)

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What is MyTech Group 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 -2.4 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKLS:7692' s Beneish M-Score Range Over the Past 10 Years
Min: -3.32 Med: -2.48 Max: 117.3
Current: -2.4

During the past 13 years, the highest Beneish M-Score of MyTech Group Bhd was 117.30. The lowest was -3.32. And the median was -2.48.

MyTech Group Bhd Beneish M-Score Historical Data

The historical data trend for MyTech 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.

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MyTech Group Bhd Beneish M-Score Chart

MyTech Group Bhd Annual Data

Trend

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Beneish M-Score

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-2.45

-3.32

117.30

-2.40

MyTech Group 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															-	-2.40	-	-	-

Competitive Comparison of MyTech Group Bhd's Beneish M-Score

For the Tools & Accessories subindustry, MyTech 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.

MyTech Group Bhd's Beneish M-Score Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, MyTech Group Bhd's Beneish M-Score distribution charts can be found below:

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

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MyTech 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 MyTech Group 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 * 1.1377

0.528 * 0.9795

0.404 * 0.3817

0.892 * 1.1194

0.115 * 1.0633

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.025377

0.327 * 0.3301

-2.40

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was RM2.47 Mil.
Revenue was RM10.45 Mil.
Gross Profit was RM7.50 Mil.
Total Current Assets was RM31.85 Mil.
Total Assets was RM43.27 Mil.
Property, Plant and Equipment(Net PPE) was RM8.77 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.90 Mil.
Selling, General, & Admin. Expense(SGA) was RM0.00 Mil.
Total Current Liabilities was RM0.63 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.07 Mil.
Net Income was RM2.45 Mil.
Gross Profit was RM0.00 Mil.
Cash Flow from Operations was RM3.55 Mil.

Total Receivables was RM1.94 Mil.
Revenue was RM9.33 Mil.
Gross Profit was RM6.56 Mil.
Total Current Assets was RM26.44 Mil.
Total Assets was RM42.16 Mil.
Property, Plant and Equipment(Net PPE) was RM8.95 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0.99 Mil.
Selling, General, & Admin. Expense(SGA) was RM0.00 Mil.
Total Current Liabilities was RM1.97 Mil.
Long-Term Debt & Capital Lease Obligation was RM0.09 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)
	=	(2.468 / 10.447)	/	(1.938 / 9.333)
	=	0.23624	/	0.20765
	=	1.1377

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)
	=	(6.561 / 9.333)	/	(7.498 / 10.447)
	=	0.702989	/	0.717718
	=	0.9795

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 - (31.848 + 8.766) / 43.267)	/	(1 - (26.435 + 8.951) / 42.159)
	=	0.061317	/	0.160654
	=	0.3817

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
	=	10.447	/	9.333
	=	1.1194

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))
	=	(0.988 / (0.988 + 8.951))	/	(0.904 / (0.904 + 8.766))
	=	0.099406	/	0.093485
	=	1.0633

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 / 10.447)	/	(0 / 9.333)
	=	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)
	=	((0.073 + 0.625) / 43.267)	/	((0.088 + 1.972) / 42.159)
	=	0.016132	/	0.048863
	=	0.3301

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
	=	(2.454 - 0	-	3.552)	/	43.267
	=	-0.025377

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.

MyTech Group Bhd has a M-score of -2.40 suggests that the company is unlikely to be a manipulator.

MyTech Group Bhd Beneish M-Score Related Terms

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MyTech Group Bhd Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » MyTech Group Bhd (XKLS:7692) » Definitions » Beneish M-Score

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Traded in Other Exchanges

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Address

No. 2, Jalan Solaris, K-09-01, Block K, Solaris Mont Kiara, Kuala Lumpur, SGR, MYS, 50480

Website

https://www.mytechgroup.com.my

MyTech Group Bhd is principally engaged as an investment holding company, provision of management services, and rental of properties. It has three operating segments: Manufacturing: involves the manufacturing of precision springs: Financing: involves provision of financing services; and Others which include investment holding, provision of management services, provision of financing services, and rental of properties. It generates maximum revenue from the Manufacturing segment. Geographically, it derives a majority of its revenue from Malaysia and also has a presence in Laos.

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