KUALA LUMPUR: Beginning November, it will be mandatory for companies to submit their annual statements, unaudited financial statements and Certificate for Exempt Private Company (EPC) to the Companies Commission of Malaysia (SSM) using the Malaysian Business Reporting System (MBRS) platform.
Deputy Domestic Trade and Consumer Affairs Minister Chong Chieng Jen said, however, that the mandatory implementation of submission via the MBRS platform will be held in two stages.
“In the first phase, starting November, it will be mandatory for companies in Kuala Lumpur and Selangor to submit via the MBRS platform.
“The second phase will involve companies from the other states; Negri Sembilan, Melaka and Johor from December, followed by Pahang, Kelantan and Terengganu in January.”
“For Perlis, Perak, Kedah and Penang, it will be from February, and Sabah, Sarawak and Labuan in March,” he told reporters after the launching of MBRS platform today.
Chong said the submission using MBRS, a new online system by SSM, could be made voluntarily from tomorrow.
“Companies are encouraged to use MBRS platform even before the mandatory implementation by the SSM starting November,” he said.
He said the government would continue to support agencies that wanted to facilitate the business process of private companies.
“Our job is to help smoothen rather than compete with private companies.”
He said, to date a total of 4,000 company secretaries have undergone the necessary training to enhance their understanding and efficiency in updating information and data exchange.
Meanwhile SSM chief executive officer Datuk Zahrah Abd Wahab Fenner said the MBRS platform would benefit some 600,000 companies.
“MBRS is expected to improve the public delivery system, thereby reducing business costs for companies.
“It also expedites the updating of information, data exchange, enforcement and information dissemination to stakeholders.”
Previously, the companies would have to come to SSM to submit the documents.
The documents the will be scanned manually and the data will be handled by SSM workers. Present at the event was the ministry’s secretary general Datuk Seri Jamil Salleh.