Companies Commission of Malaysia (“CCM”) introduced a submission platform based on the eXtensible Business Reporting Language (XBRL) format in 2018.

This submission platform will be known as the “Malaysian Business Reporting System” (MBRS) which allows for the annual submission filing of:

• Financial Statements and Reports (FS);
• Annual Return (AR); and
• Exemption Applications (EA) which are related to the FS and AR applications.

The guiding principles behind the MBRS is based on the following financial and non-financial scopes as stated below:

• Companies Act 2016;
• Applicable approved accounting standards for financial statements of :
  • Malaysian Private Entities Reporting Standards (MPERS) for private company that:-
    • is not itself required to prepare or lodge any financial statements under any law administered by the Securities Commission Malaysia or Bank Negara Malaysia; and
    • is not a subsidiary or associate of, or jointly controlled by, an entity which is required to prepare or lodge any financial statements under any law administered by the Securities Commission Malaysia or Bank Negara Malaysia or
  • Malaysian Financial Reporting Standards (MFRS) for public company.

With effect from 1 January 2019, it has become compulsory for all Companies to lodge its Annual Return (Section 68 Notification) via SSM’s online MBRS Portal and the lodgement of the Annual Return can only be carried out by the named Secretary through the online MBRS Portal.

If you are interested, please click here for more information.