Southern Steel Bhd Beneish M-Score Historical Data
The historical data trend for Southern Steel 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.
Southern Steel Bhd Beneish M-Score Chart
|
Southern Steel Bhd Annual Data
|
|
Trend |
Jun14 |
Jun15 |
Jun16 |
Jun17 |
Jun18 |
Jun19 |
Jun20 |
Jun21 |
Jun22 |
Jun23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-0.29 |
-3.06 |
-2.80 |
-0.34 |
-22.53 |
|
Southern Steel Bhd Quarterly Data
|
|
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
- |
-22.53 |
- |
- |
- |
Competitive Comparison of Southern Steel Bhd's Beneish M-Score
For the Steel subindustry, Southern Steel 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.
Southern Steel Bhd's Beneish M-Score Distribution in the Steel Industry
For the Steel industry and Basic Materials sector, Southern Steel Bhd's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Southern Steel Bhd's Beneish M-Score falls into.
Southern Steel 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 Southern Steel 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 * 0.8121 | + | 0.528 * -36.026 | + | 0.404 * 0.9376 | + | 0.892 * 1.0336 | + | 0.115 * 1.2647 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0362 | + | 4.679 * -0.076475 | - | 0.327 * 0.9846 |
| = | -22.53 |
* 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 (Jun23) TTM: | Last Year (Jun22) TTM: |
Total Receivables was RM139 Mil.
Revenue was RM2,386 Mil.
Gross Profit was RM-6 Mil.
Total Current Assets was RM867 Mil.
Total Assets was RM1,927 Mil.
Property, Plant and Equipment(Net PPE) was RM863 Mil.
Depreciation, Depletion and Amortization(DDA) was RM38 Mil.
Selling, General, & Admin. Expense(SGA) was RM118 Mil.
Total Current Liabilities was RM1,015 Mil.
Long-Term Debt & Capital Lease Obligation was RM231 Mil.
Net Income was RM-141 Mil.
Gross Profit was RM0 Mil.
Cash Flow from Operations was RM6 Mil.
|
Total Receivables was RM165 Mil.
Revenue was RM2,309 Mil.
Gross Profit was RM202 Mil.
Total Current Assets was RM1,055 Mil.
Total Assets was RM1,989 Mil.
Property, Plant and Equipment(Net PPE) was RM717 Mil.
Depreciation, Depletion and Amortization(DDA) was RM40 Mil.
Selling, General, & Admin. Expense(SGA) was RM110 Mil.
Total Current Liabilities was RM1,050 Mil.
Long-Term Debt & Capital Lease Obligation was RM255 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) |
| = | (138.623 / 2386.435) | / | (165.148 / 2308.915) |
| = | 0.058088 | / | 0.071526 |
| | = | 0.8121 |
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) |
| = | (201.796 / 2308.915) | / | (-5.79 / 2386.435) |
| = | 0.087399 | / | -0.002426 |
| | = | -36.026 |
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 - (867.242 + 862.63) / 1926.61) | / | (1 - (1055.227 + 716.772) / 1988.577) |
| = | 0.102116 | / | 0.108911 |
| | = | 0.9376 |
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 |
| = | 2386.435 | / | 2308.915 |
| | = | 1.0336 |
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)) |
| = | (40.167 / (40.167 + 716.772)) | / | (37.78 / (37.78 + 862.63)) |
| = | 0.053065 | / | 0.041959 |
| | = | 1.2647 |
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) |
| = | (118.148 / 2386.435) | / | (110.317 / 2308.915) |
| = | 0.049508 | / | 0.047779 |
| | = | 1.0362 |
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) |
| = | ((230.727 + 1014.729) / 1926.61) | / | ((255.369 + 1050.218) / 1988.577) |
| = | 0.646449 | / | 0.656543 |
| | = | 0.9846 |
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 |
| = | (-141.437 - 0 | - | 5.9) | / | 1926.61 |
| | = | -0.076475 |
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.
Southern Steel Bhd has a M-score of -22.53 suggests that the company is unlikely to be a manipulator.
Southern Steel Bhd (XKLS:5665) Business Description
Traded in Other Exchanges
N/A
Address
2435, Lorong Perusahaan 12, Prai Industrial Estate, Prai, PNG, MYS, 13600
Southern Steel Bhd is an investment holding company. The company's operating segment includes Steel products and Investment holding and others and Hot rolled coil operations. Its Steel products segment includes manufacturing, sale, and trading in billets, steel bars, wire rods, wire mesh, pre-stressed concrete strands, bars and wires, steel pipes, steel wires, and other related products. Geographically, the group has its business in the regions of Malaysia, Taiwan, Papua New Guinea , Philippines, Bangladesh, Japan, Singapore, Indonesia, the United States of America, Australian and others of which majority of the revenue is derived from the Malaysia region.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
XKLS:5665 has been successfully added to your