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Malaysian Business Reporting System 2.0

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Malaysian Business Reporting System (MBRS) 2.0

Prepare Your Financial Statements in XBRL Format
The Malaysian Business Reporting System (MBRS) is an online filing platform that utilises the eXtensible Business Reporting Language (XBRL) for digital financial reporting.

On 26 November 2024, Suruhanjaya Syarikat Malaysia (SSM) announced the phased implementation of MBRS 2.0, making XBRL filing mandatory according to the following schedule:

Mandatory Effective Dates & Requirements

Phase 1: 1 December 2024.

  • Annual Return of companies under Companies Act 2016 (CA 2016)
  • Unaudited Financial Statements and Reportsof companies under CA 2016
  • Financial Statements for Exempt Private Companies (EPC)under CA 2016
  • Applications for rectification / Court Orderfor Annual and Unaudited Financial Statements & Reports under CA 2016
  • Applications for extension of time (EOT)for EPC under CA 2016
  • Applications for EOT for Unaudited Financial Statements and Reports submissionunder CA 2016
  • Applications for EOT for Annual Return submissionunder CA 2016

 Phase 2: 1 March 2025

  • Annual Return of companies under Companies Act 1965 (CA 1965)
  • Audited Financial Statements and Reportsof companies under CA 1965 (including Companies Limited by Guarantee)
  • Audited Financial Statements of financial institutions regulated by Bank Negara Malaysia (BNM)under CA 1965 & CA 2016
  • Financial Statements for EPCunder CA 1965
  • Applications for rectification / Court Orderfor Annual Return and Audited Financial Statements & Reports under CA 1965
  • Audited Financial Statements & Declaration of Country-of-Originfor Foreign Companies under CA 1965 & CA 2016

Phase 3: 1 June 2025

  • Audited Financial Statements and Reportsof all companies under CA 2016
  • Applications for rectification / Court Order filingsfor Annual Return and Audited Financial Statements & Reports
  • Applications for EOT and all other Exemption Applicationsrelated to Financial Statements and Reports under CA 2016

 

How to Prepare and File Financial Statements Under MBRS 2.0?

Your Responsibility as a Company

  1. Install and launch the MBRS Preparation Tool 2.0
  2. Choose the type of filing submission
  3. Complete filing information
  4. Complete the MBRS template
  5. Validate the MBRS template
  6. Identify and rectify errors
  7. Generate the XBRL file

Company Secretary’s Responsibility
✔ Lodge the XBRL file on the MBRS Portal
 

XBRL Conversion & SSM Taxonomy (SSMxT)

To comply with SSM’s XBRL filing requirements, companies must tag both financial and non-financial data with the appropriate element labels from the SSM Taxonomy (SSMxT). This ensures standardised and structured reporting.

However, converting financial statements (FS) to XBRL can be complex and time-consuming. At EMS Group, we simplify this process for you!

 
How EMS Group Can Help

  1. Expert Resources

✔ Our team is highly experienced in XBRL conversion and MBRS taxonomy.
✔ We handle XBRL tagging to ensure your financial statements meet SSM’s requirements.

  1. High Quality & Accuracy

✔ Our quality assurance process ensures compliance with the latest MBRS taxonomies.
✔ We deliver fast turnaround times without compromising accuracy.

  1. Efficiency & Compliance

✔ Free up your time to focus on growing your business while we handle the complexities of XBRL filing.
✔ Reduce compliance burdens and ensure a seamless transition to MBRS 2.0.

 Are You XBRL Ready?

Let EMS Group handle your XBRL conversion with ease. 

Contact us today to learn more!

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