MANDATORY SUBMISSION OF AUDITED FINANCIAL STATEMENTS (AFS) IN XBRL FORMAT VIA MALAYSIAN BUSINESS REPORTING SYSTEM (MBRS) 2.0

Dear Sirs,

Please be informed that, effective 1st June 2025, the Companies Commission of Malaysia (SSM) has mandated that all companies are required to submit their Audited Financial Statements (AFS) in eXtensible Business Reporting Language (XBRL) format via the Malaysian Business Reporting System (MBRS) 2.0. 

WITH THIS NEW RULING AFS CAN NO LONGER BE SUBMITTED OVER THE COUNTER.

The MBRS Portal (mPortal) is an online platform developed by SSM for the submission of:

1. Financial Statements and Reports (FS)
2. Annual Returns (AR)
3. Exemption Applications (EA) related to FS and AR; and
4. Rectification Applications

All submissions must be prepared in eXtensible Business Reporting Language (XBRL) format using the MBRS Preparation Tool (mTool 2.1) and uploaded manually via mPortal. Please note that SSM does not provide an official Application Programming Interface (API) for integration or automation of accounting software with mTool 2.1.

Preparing AFS in XBRL format can be technically challenging and time-consuming. To comply with this new requirement and simplify the process, you may consider the following options:-

1. Liaise with your external auditor to obtain Audited Financial Statement (AFS) in XBRL format OR

2. Coordinate with your internal accountant or finance team to prepare the accounts using mTool 2.1 upon receipt of the final Audited Financial Statements (AFS) from the Auditor OR

3. Engage our services to generate the XBRL files for you (subject to service charges).

The generated XBRL files must be reviewed and approved by the Company before being submitted to the Company Secretary, who will subsequently lodge the files to SSM via mPortal in accordance with the current fee structure. Kindly be reminded that the AFS must be prepared and submitted within the statutory deadline in compliance with Section 248(1), 258 and 259(1) of the Companies Act 2016. 

We strongly recommend early preparation and ensure timely compliance to avoid unnecessary delays or penalties imposed by SSM.

Please be advised that the following are the applicable service charge in relation to preparation of XBRL format by us:

Useful References:

• MBRS Portal
• SSM Official Announcement
• MBRS 2.0 Infographic (PDF)
• Press Release – 2025

Should you have any questions or require further assistance, please do not hesitate to contact us

Thank you for your cooperation.

Note:

1. mTool 2.1 is the MBRS Preparation Tool; a software developed by SSM to prepare and generate output files for AR, FS and EA in XBRL format.
2. XBRL is an open international standard for digital business reporting, allowing financial and non-financial information to be captured in a common digital language. It uses a digital-type language called XML to represent business and financial data.
3. API is a set of rules and tools that allow different software applications to communicate with each other.