In 2018, Suruhanjaya Syarikat Malaysia (SSM) introduced a submission platform based on the eXtensible Business Reporting Language (XBRL) format.
Annual submission filing of the following is allowed to be done in MBRS:
- Financial Statements and Reports (FS)
- Annual Return (AR)
- Exemption Applications (EA) which are related to the FS and AR applications.
Its effective without wasting time, effort or expense which is a advantage for companies.
The objective of implementing this submission platform is to go paperless or reduce the usage of hard-copy submissions of annual returns. Before introducing MBRS, the submissions was done manually where company or company secretaries must bring documents to SSM. This documents could be in huge volume and SSM has to manually scan these documents and input them into their system but with MBRS, it reduces so much of processing time and human errors. The system is extremely secure and caters for high traffic submissions, it also provides flexibility to companies to access them anytime, anywhere.
