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AN OVERVIEW OF
MALAYSIAN BUSINESS REPORTING SYSTEM
Farid Ahmad
Director
Marketing and Business Development Division
Companies Commission of Malaysia
SSM ANNUAL DIALOGUE 2019
2
PROJECT BACKGROUND
Services Supply Implementation, Training, Support, Warranty and Maintenance of SSM
Taxonomy 2016 and XBRL Submission Platform – Tender SSM No. 3/2016
Project period 5 December 2016 – 31 December 2018 (System development phase)
1 January 2019 – 31 December 2021 (System maintenance and support phase)
Scope of
work
The scope of services includes supply, implementation, training, support,
warranty and maintenance of the following:
a) Re-evaluation on SSM Taxonomy (SSMT) 2012 to SSM Taxonomy (SSMxT)
2017; and
b) XBRL submission tool and platform for Financial Statements (FS) and Annual
Return (AR) based on Companies Act 2016.
Project
objective
A key objective of the project is to reduce or eliminate the manual process from
registration, compliance, investigation and enforcement.
3
INTRODUCTION TO MBRS
The MBRS allows companies for the submission of:
Financial Statements and Reports (FS);
Annual Return (AR); and
Exemption Applications (EA) related to the FS and AR
applications.
Malaysian Business Reporting System (MBRS) is a submission
platform based on the eXtensible Business Reporting Language
(XBRL) format.
4
SSM Taxonomy(SSMxT)
MBRS Preparation Tool(mTool)
MBRS Portal(mPortal)
A dictionary of financialand non-financialreporting element of FS,AR and EA embedded inthe MBRS PreparationTool (mTool).
A standard reportingformat for numeric ortextual facts controlledby SSM.
An online submissionplatform to lodge FS, ARand EA to SSM.
A preparation tools thatallow companies to prepareand generate AR, FS and EAin the XBRL format.
COMPONENTS OF MBRS
COMPANIES ANNUAL FILLING
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Annual Submission 2017
Annual Return Audited Account Certificate Relating to An Exempt Private Company
Total submission:
1,007,890
COMPANIES ANNUAL FILLING
Total submission:
885,688
0
20000
40000
60000
80000
100000
120000
140000
160000
Annual Submission 2018
Annual Return Audited Account Certificate Relating to An Exempt Private Company
7
COMPONENTS OF MBRS
MBRS
FIRST COMPONENT
SSM Taxonomy
2017
(SSMxT 2017)
SSM TAXONOMY (SSMxT)
SSM Taxonomy (SSMxT) is designed for the purpose of compliances with the
requirements contained under the Companies Act 2016, Malaysian Financial Reporting
Standards (MFRS) and Malaysian Private Entities Reporting Standards (MPERS)
SSMxT is aligned to IFRS Taxonomy architecture 2017. Upon evaluation, the elements
which are not listed in IFRS were identified and duly incorporated as extensions for
SSMxT. Extensions are created following the guidelines defined in the IFRS Taxonomy
Guide
SSM data requirements for regulatory, compliance, data collection and statistical
purposes were identified and selected. Financial Data once collected by SSM can be
shared with other regulators as concept definition would be same.
SCOPE OF SSM TAXONOMY (SSMxT)
- EXEMPTION APPLICATION
EA1-Application for exemption from coinciding foreign subsidiary financial year end
with holding company
EA2-Application for exemption from filing financial statements in full XBRL format
EA3-Application to waive lodgement of financial statements by foreign company
EA4A-Application for relief from requirements as to form and contents of directors'
report
EA4B-Application for relief from requirements as to form and contents of financial
statements
EA5A-Application for extension of time for circulation of financial statements and reports
EA5B-Application for extension of time to lodge financial statements and reports
EA6-Application for extension of time for holding annual general meeting
EA7-Application for extension of time to lodge annual return
EA8-Application to Minister (with relation to financial statements and report)
SCOPE OF SSM TAXONOMY (SSMxT)
- EXEMPTION APPLICATION
FS-MFRS - Financial Statements - Malaysian Financial Reporting Standards (MFRS)
FS-MPERS - Financial Statements - Malaysian Private Entities Reporting Standards
(MPERS)
FS-CLBG - Financial Statements - Companies Limited by Guarantee (CLBG)
FS-FC - Financial Statements - Foreign Company
FS-EPC - Financial Statements - Exempt Private Companies
SCOPE OF SSM TAXONOMY (SSMxT)
- FINANCIAL STATEMENTS AND REPORT
AR1 - Annual return for companies having share capital
AR2 - Annual return for companies not having share capital
AR3 - Annual return for foreign companies
AR4 - Annual return for unchanged particulars
SCOPE OF SSM TAXONOMY (SSMxT)
- ANNUAL RETURN
SUMMARY OF ELEMENTS IN SSM TAXONOMY (SSMxT)
Type of taxonomy Companies
Act
or Standards
MFRS
(based on
IFRS
2017)
MPERS
(based on
IFRS
for SME 2017)
SSMxT Total
Exemption
Application (EA) CA 2016 - - 98 98
Annual Return (AR)CA 2016 - - 278 278
Financial
Statements (FS)
MFRS 4,604 - 936 5,540
MPERS - 1,211 1,153 2,364
Reports under
Financial Statements CA 2016 - - 251 251
SSM TAXONOMY (SSMxT) CONSULTATION PROCESS
Taxonomy Review Cycle Start date End date
SSM released the taxonomy known as SSMxT 2017
reporting concept templates for Regulators.
27/07/2017 18/08/2017
SSM released SSMxT 2017 for public consultation. 21/08/2017 15/09/2017
15
SSM TAXONOMY (SSMxT) CONSULTATION PROCESS
SSM TAXONOMY (SSMxT) IN XBRL TAXONOMY REGISTRY
https://taxonomies.xbrl.org/taxonomy/67
17
COMPONENTS OF MBRS
MBRS
SECOND COMPONENT
MBRS
Preparation Tool
(mTool)
18
MBRS PREPARATION TOOL
- FEATURES
User friendly data collection.
Inbuilt SSMxT browser.
MS Excel add-on application.
Offline and online features.
Form/ template driven.
Data validation checks.
Generate XBRL file of AR, FS and EA.
FeaturesDownload applicable template & taxonomy
Enter data & generate XBRL Instance document
19
MBRS PREPARATION TOOL - INTERFACE
MTOOL: FINANCIAL STATEMENTS
- FILING INFORMATION
MTOOL: FINANCIAL STATEMENTS
- FILING INFORMATION
MTOOL: FINANCIAL STATEMENTS
- FILING INFORMATION
MTOOL: FINANCIAL STATEMENTS
- CONTENT PAGE
MTOOL: FINANCIAL STATEMENTS
-TEMPLATE
XBRL HELP
METHODS OF FILING INFORMATION IN THE TEMPLATES
Financial Statements
(FS)
• Auto tagging
• Drag and drop
• Copy and paste
• Import prior year figure
• Manual key-in
Annual Return (AR)
• Pre-populate AR data
• Edit prior year AR data
• Manual key-in
Exemption Application (EA) related to the
FS and AR
• Manual key-in
27
COMPONENTS OF MBRS
MBRS
THIRD COMPONENT
MBRS Portal
(mPortal)
28
MBRS PORTAL
- FEATURES
Website login and role rights based access
(Lodger and/ or Maker).
Latest mTool Version download facility.
Rendering output (PDF) of AR, FS and EA.
Digital signature.
Payment gateway.
Application status dashboard.
Features
Validation Engine
Rendering Engine Filing Calendar
Notification
Reports
Workflow Engine
Version Management
Submission Gateway
AdminDigital Signature
XBRL
REPOSITORY
29
STEPS TO ACCESS MBRS PORTAL
1. Go to www.ssm4u.com.my
2. Register as a SSM4U user.
3. Follow instruction in the notification e-mail and visit the nearest SSM’s office for validation as a SSM4U user.
30
STEPS TO ACCESS MBRS PORTAL
5. Click “MBRS” icon to access MBRS Portal (mPortal).
31
MBRS PORTAL - INTERFACE
MBRS PORTAL DASHBOARD
COMPANY SECRETARY ASSISTANT (MAKER)
MBRS PORTAL DASHBOARD
COMPANY SECRETARY (LODGER)
OVERALL FILING PROCESS
Download & Install mTool
Getting Started
Fill Scoping Questions
Fill-in the MBRS templates Validate XBRL file and
Rectify Errors
Generate
XBRL file
Validate and Upload the XBRL file on the mPortal
Generate Human Readable PDF
If no errors are found in the XBRL file, upload is successful
on the mPortal
Lodged XBRL file to SSM, with successful digital signature
and payment on filing
STEPS TO ACCESS MBRS PORTAL
Portal Activities Description Action By
SSM4U
Portal
User
Registration
MBRS users are required to register as a e-Services user.
Note:
Existing MyCOID users are not required to register as a e-Services user to access mPortal. MyCOID users need to reset
password via Forgot Password link in the SSM eServices portal.
Lodger/ Maker
MBRS
Portal
(mPortal)
User
Role Assignment
mPortal required role rights based access as a Lodger and/ or Maker. Lodger/ Maker
User
Association
Create association between Lodger and Maker.
This association is to allow Maker to upload filing and pre-populate Annual Return information in mTool.
Lodger
1CRS
Portal
PKI
Registration
The Lodger are required to purchase digital certificate.
Fee:
- RM47.70 (1 year)
- RM95.40 (2 years)
* Include SST
Lodger
Go to SSM4U portal www.ssm4u.com.my
Notes:
Lodger - A Company Secretary/ Company Agent who have the authority to lodge AR, FS and EA to SSM.
Maker - A person who prepare and upload the XBRL file of AR, FS and EA into MBRS portal.
36
INTRODUCTION TO PKI REGISTRATION/
DIGITAL CERTIFICATE
37
FLOWCHART - PKI APPLICATION REGISTRATION/
DIGITAL CERTIFICATE PURCHASE
38
MBRS
IMPLEMENTATION PLAN
39
MBRS IMPLEMENTATION PLAN
Jul – Sep 2017
Consultation Process - SSMxT
2017.
January 2018
Release 1: MBRS Prep. Tool
(mTool).
2 July 2018
MBRSGo Live
(Pilot companies)
28 September 2018
Voluntary submission
(All companies)
November 2018
**Mandatory submission (In stages)
40
MBRS IMPLEMENTATION PLAN – MANDATORY SUBMISSION
Zone State Implementation Date
Central Zone W.P. Kuala Lumpur and Selangor 1 November 2018
Southern Zone Negeri Sembilan, Melaka and Johor1 January 2019
East Zone Pahang, Kelantan and Terengganu
North Zone Perlis, Perak, Kedah and Pulau Pinang 1 February 2019
East Malaysia Sabah, Sarawak and W.P. Labuan 1 March 2019
** Mandatory submission through the MBRS for Annual Return, Certificate for Exempt Private Company
(EPC) and Financial Statements (Unaudited) will be implemented in stages as below:
Note:
Mandatory submission for Financial Statements (Audited) will be determined by SSM based on user readiness.
41
STATISTICS ON USER REGISTRATION
Month SSM4U
(Enterprise Portal)
DigiCert
Delivered
Role Assignment
(MBRS Portal)
Maker Lodger
July 440 58 137 83
August 356 10 64 25
September 660 77 400 359
October 2,668 1,294 2,812 1,640
November 1,194 356 1,217 483
December 770 733 657 343
6,088 2,528 5,287 2,933
42
STATISTICS ON MBRS TRANSACTIONS
MonthAnnual Return
(AR)
Financial
Statement
(FS)
Exemption
Application (EA)
related to FS &
AR
Total
July 59* 22 0 81
August 78 7 0 85
September 41 0 0 41
October 1,138 13 0 1,151
November 12,793 141 6 12,940
December 21,718 221 42 21,981
Total 35,827 404 48 36,279
Note: Include 4 submitted during FAT on May 2018.
43
MBRS
ANNOUNCEMENT & PROMOTION
44
PROMOTION & ANNOUNCEMENT
i. MBRS@Newspapers
No. Date Newspaper Title
1 28 Sep 2018 News Straits Times Companies told to submit annual document
online from November
2 28 Sep 2018 Harian Metro Syarikat wajib serah simpan dokumen
kewangan melalui sistem MBRS
3 28 Sep 2018 Berita Harian Lebih 600,000 syarikat bakal dapat manfaat
MBRS
4 29 Sep 2018 Sinar Harian Wajib guna MBRS bermula November ini
ii. MBRS@Electronic Media
No. Date Media Title
1 28 Sep 2018 TV3 MBRS
45
PROMOTION & ANNOUNCEMENT
iii. MBRS@Social Media
No. Date Title
1 29 Aug 2018 Poster promosi pelancaran MBRS
2 5 Sep 2018 Poster promosi pelancaran MBRS
3 20 Sep 2018 Latihan Dalaman MBRS
4 22 Sep 2018 Poster promosi pelancaran MBRS
5 25 Sep 2018 Poster promosi pelancaran MBRS
6 26 Sep 2018 Poster promosi pelancaran MBRS
7 27 Sep 2018 Pelancaran MBRS
8 28 Sep 2018 Video live pelancaran MBRS
9 28 Sep 2018 Video Buletin Utama berkenaan MBRS
10 28 Sep 2018 Video promosi MBRS (SSM TV)
11 28 Sep 2018 Poster promosi MBRS
12 29 Sep 2018 Video penerangan MBRS
13 31 Oct 2018 Hari terakhir penyerahan Penyata Tahunan melalui kaunter
14 31 Oct 2018 Video suasana hari terakhir penyerahan Penyata Tahunan melalui kaunter
15 4 Nov 2018 Notis pemberitahuan kepada semua cawangan SSM mengenai MBRS
16 12 Nov 2018 Sesi taklimat dan mesyuarat Persidangan Tahunan XBRL
17 14 Nov 2018 Dato’ Zahrah memberi ucapan Persidangan Tahunan XBRL, Dubai
46
PROMOTION & ANNOUNCEMENT
iv. MBRS Awareness Programme (Teh Tarik Session)
A Teh Tarik Session was held at Dorsett Hotel Putrajaya on 25 September 2018 between Dato’ Zahrah
Abd Wahab Fenner, CEO of SSM with the company secretaries and professional bodies for an open
discussion regarding the MBRS system.
v. MBRS@Conference
SSM was invited as panelist in the following conferences:
a) MIA Conference 2018;
b) MAICSA Annual Conference 2018;
c) EY - Malaysia 2018 Budget and Tax Conference; and
d) SSM National Conference 2017 and 2018.
47
MBRS
AWARENESS & TRAINING
PROGRAMME
MBRS TRAINING PROGRAMME
MBRS training programmes offered by SSM and jointly with the MBRS
Training Partners and MBRS Training Service Providers:
Introduction to MBRS (1-day)
Overview of MBRS, how to optimize the use of the MBRS
Preparation Tool (mTool) and how to prepare and submit Annual
Returns under MBRS.
MBRS for Preparers – Financial Statements (2-days)
Hands-on training for Preparers in using MBRS Preparation Tool
(mTool) for submission of Financial Statements and Key Financial
Indicators.
MBRS TRAINING PROGRAMME
SSM has initiated a strategic collaboration with “MBRS Training Partners” and “MBRS Training Services
Provider” to conduct MBRS training for SSM’s stakeholders.
MBRS Training Partners:
Malaysian Institute of Accountants (MIA);
Malaysian Institute of Chartered Secretaries and Administrators (MAICSA);
Malaysian Association of Company Secretaries (MACS); and
Institute of Approved Company Secretaries (IACS).
MBRS Training Services Providers:
Baker Tilly MH Consulting;
KPMG Management & Risk Consulting;
Big Dataworks;
Ernst & Young Tax Consultants; and
Formis Network Services.
50
MBRS TRAINING PROGRAMME CONDUCTED AS AT DECEMBER 2018
MBRS PROGRAMME TOTAL
PROGRAMME
TOTAL PAX
ATTENDED
MBRS Awareness Programme – Corporate Tea Talks
- SSM State / Branch Office
- COMTRAC
174
10
3,968
2,122
SSM - Introduction to MBRS 17 1,722
SSM - MBRS for Preparers – Financial Statements 13 1,006
Total (1) 214 8,818
Partners (MIA,MAICSA,IACS,MACS) 113 4,829
Training Service Provider (Baker Tilly, KPMG, Big
Dataworks, Ernst & Young, Formis)
35 877
Total (2) 148 5,706
Total (1+2) 362 14,524
* Update as at 3 Dec 2018
51
MBRS – INTERNAL TRAINING
MBRS Train The Trainers (TTT) training program had been conducted to SSM employees all around
Malaysia. Employees who had been trained are also known as Subject Matter Expert (SME) and plays a
significant role as a point of reference by fellow employees and professional bodies.
Internal Training sessions were conducted to SSM employees especially frontline staffs to ensure that they
are always prepared to assist the publics regarding MBRS issues through phone calls, e-mails and SSM
social medias.
Programs such as Knowledge Sharing for Change Ambassador SSM 2018 and Let’s Share 2018 had been
conducted nationwide to share information with SSM employees regarding MBRS’s projects status and
system. Through these programs, SSM employees would always be ready to share information with
company secretaries and professional bodies.
52
INTEGRATION WITH
ACCOUNTING SERVICE PROVIDER
53
THE NEW ERA OF ACCOUNTING SOFTWARE -
INCORPORATING XBRL TAXONOMY IN MALAYSIA
An briefing session was conducted on Friday 7th September 2018 at Auditorium Tun Dr Siti Hasmah,
Menara SSM@Sentral
The briefing was conducted between SSM and accounting Software Industry and was attended by
91 participant representing 55 companies
Purpose of the briefing was to present the idea of incorporating MBRS taxonomy architecture into the
accounting software
The participants were briefed on the new software business opportunities, new direction to Financial
Statement Reporting and support accounting standards reporting
SSM received respond from 5 companies and are in the middle of discussing and understanding the
further requirement required by the accounting system offered by the company for incorporating the XBRL
taxonomy
54
MBRS RESOURCES CENTRE
@SSM PORTAL
55
MBRS@SSM PORTAL
56
MBRS@SSM PORTAL
57
MBRS@SSM PORTAL
58
MBRS RESOURCE CENTER
59
MBRS RESOURCE CENTER
Insert new print screen
60
MBRS RESOURCE CENTER
http://www.ssm.com.my/Pages/Services/Other-Services/MBRS.aspx
61
MBRS SUPPORT CENTRE
62
THANK YOU