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Decoding the Malaysian Business Reporting System by SSM

In November 2018, the Companies Commission of Malaysia, i.e., Suruhanjaya Syarikat Malaysia (SSM), shifted their approach of business reporting from print or over the counter to XBRL standard of reporting using MBRS. By introducing MBRS, SSM has aimed to achieve compliant digitization of annual returns (AR), financial statements and reports (FS), and exemption applications related […]

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How XBRL will be the Future of Business Reporting System in Malaysia?

“The McKinsey Global Institute estimates that, compared with the Industrial Revolution of the late 18th and early 19th centuries, modern technology’s disruption of society is happening ten times faster and at 300 times the scale. That means roughly 3000 times the impact.” Given the above statement, it’s a known fact that financial regulatory boards across […]

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Who will benefit from using XBRL in Malaysia?

In 2018, the Companies Commission of Malaysia or the Suruhanjaya Syarikat Malaysia (SSM) decided to introduce the Malaysian Business Reporting System (MBRS) and use XBRL for filing annual financial statements. The importance of XBRL is not just for the IT department, but extends to every party relevant in preparing and using the report. It is […]

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DataTracks - Malaysia -MBRS, XBRL

SSM introduces New Company Registration Number Format – Key Updates.

 SSM (Suruhanjaya Syarikat Malaysia) has introduced a new 12-digit registration number format for business entities registered with the Companies Commission of Malaysia, effective 11th October 2019. This decision has been taken for better control and ease of information. This certainly is a good step in the right direction! The objective of implementing this new registration number is […]

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MBRS in a Nutshell

The Companies Commission of Malaysia, or Suruhanjaya Syarikat Malaysia (SSM), recently announced a new submission filling system called the Malaysian Business Reporting System (MBRS). Based on the eXtensible Business Reporting Language (XBRL) format, it allows for the submission of: Annual returns (AR) Financial statements and reports (FS) Related exemption applications (EA)   Before going into […]

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XBRL for Digital Business Reporting

Increasing advances in technology have revolutionised financial markets operations in many ways. The old paper-based business reports have been shown the door and digital reports have replaced them. Over the years many digital formats have popped up, but XBRL (eXtensible Business Reporting Language) remains one of the most preferred formats by the world’s leading financial […]

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