Attention! Phase 1 of MBRS 2.0 is set to begin on 1 December 2024!
On 25 September 2024, the Companies Commission of Malaysia (SSM) officially launched the Malaysian Business Reporting System (MBRS 2.0). This new system will require the submission of specific documents and applications in phases, as follows:
| Phase | Effective Date | Applications & Submission of Documents |
|---|---|---|
| Phase 1 | 1 Dec 2024 | i. Annual return (AR) under the Companies Act 2016; ii. Unaudited financial statements and reports (FS) under the Companies Act 2016; iii. Declaration of Exempt Private Company (EPC) under the Companies Act 2016; iv. Application and submissions of rectifications/court orders for annual return (AR) and unaudited financial statements and reports (FS) under the Companies Act 2016; Application for extension of time under the Companies Act 2016: v. Extension of declaration of Exempt Private Company (EPC) vi. Extension of submission of unaudited financial statements and reports (FS) vii. Extension of submission of annual return (AR) |
| Phase 2 | 1 Mar 2025 | i. Annual return (AR) under the Companies Act 1965; ii. Financial statements and reports (FS) under the Companies Act 1965; iii. Declaration of Exempt Private Company (EPC) under the Companies Act 1965; iv. Financial statements and reports (FS) for licensed financial institutions (approved by Bank Negara Malaysia (BNM)) under the Companies Act 1965 and Companies Act 2016 v. Letter of undertaking and financial statements and reports (FS) from the country of origin (headquarters) for foreign companies vi. Applications and submission of rectifications/court orders for annual return (AR) and unaudited financial statements and reports (FS) under the Companies Act 1965 |
| Phase 3 | 1 June 2025 | i. Audited financial statements and reports (FS) under the Companies Act 2016; ii. Application and submissions of rectifications/court orders for audited financial statements and reports (FS) under the Companies Act 2016; iii. Other submissions related to the extension of submission of financial statements and reports (FS) and declaration of Exempt Private Company (EPC) |
In conclusion, Phase 1 will commence on 1 December 2024, followed by the full implementation on 1 June 2025.
For more information, head over to SSM Official Portal at: https://www.ssm4u.com.my/?0&_gl=1*xniwsr*_gcl_au*MTA3OTU0MDYwMy4xNzMyNjc0OTc2
Source: SSM
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