MBRS 2.0 goes live simplifying corporate compliance
Malaysia has officially entered a new era of corporate reporting with the launch of MBRS 2.0. The Companies Commission of Malaysia (SSM) introduced the enhanced Malaysian Business Reporting System on 25 September, making digital submissions mandatory from 1 December.
Leveraging XBRL, this advanced platform streamlines compliance for over one million businesses, offering greater accuracy, efficiency, and trust in corporate data.
MBRS 2.0 builds on the foundation of the original system launched in 2018, with significant upgrades to meet evolving regulatory demands. The platform allows for the submission of annual returns, financial statements, key financial indicators, and exemption applications under both the Companies Act 2016 and the Companies Act 1965. Businesses can use SSM’s free Excel-based mTool or third-party XBRL software to prepare their filings before uploading them via the mPortal. With built-in validation checks, digital signatures, and role-based access, MBRS 2.0 ensures data integrity and compliance.
The transition is being phased in over three stages, starting in December 2024 and concluding in mid-2025. During this period, companies will file annual returns, financial statements, and additional reports, moving toward full digital compliance with the new system. The system also supports mapping principles, guiding users in matching financial data to taxonomy elements, helping improve submission accuracy.
Explore MBRS 2.0 and its features here, or a summary of kick-off and upcoming requirements here.
