Phased implementation of mandatory filings through MBRS 2.0
The CCM will implement the roll out of filings through MBRS 2.0 under three phases commencing from 1 December 2024 for various documents and applications as clarified below, under specific formats applicable for each phase:
Phase 1
(commencing 1 December 2024) |
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Phase 2
(commencing 1 March 2025) |
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Phase 3
(commencing 1 June 2025)
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- Annual return of companies with the incorporation anniversary date after 31 January 2017.
- Unaudited financial statements and reports (UFS) of companies with financial year ended after 31 January 2017.
- Certificate for Exempt Private Company (EPC) of companies with financial year ended after 31 January 2017.
- Application and submission of rectification/Court Order for annual return of companies with the incorporation anniversary date after 31 January 2017, and the UFS for companies with financial year ended after 31 January 2017.
Application for extension of time under the CA 2016*
- Extension of time applications for submission of EPC certificate of companies with financial year ended after 31 January 2017.
- Extension of time application for submission of UFS of companies with financial year ended after 31 January 2017.
- Extension of time for submission of annual return for companies with the incorporation anniversary date after 31 January 2017.
*Companies Act 2016
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- Annual return of companies with the incorporation anniversary date on or before 31 January 2017 not filed with the CCM to date.
- Audited financial statements (AFS) of companies with financial year ended on or before 31 January 2017 not filed with the CCM to date.
- Certificate for EPC of companies with financial year ended on or before 31 January 2017.
- AFS for financial institutions regulated by the Malaysian Central Bank (Bank Negara Malaysia) under the CA 1965* and CA 2016;
- Statutory accounts and financial statements and reports of foreign companies.
- Application and submission of rectification/Court Order for annual return of companies with the incorporation anniversary date on or before 31 January 2017, and AFS of companies with financial year ended on or before 31 January 2017.
*Companies Act 1965
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- AFS of companies with financial year ended after 31 January 2017.
- Application and submission of rectification/Court Order for AFS of companies with financial year ended after 31 January 2017.
- All other applications relating to extensions of time or exemptions for financial statements.
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The cut off date of 31 January 2017 referred to above is derived from verbal discussions with the CCM, and therefore may be subject to confirmation / clarification by the CCM in a further advisory in due course.
Next steps
The filing of annual return through MBRS 2.0 had already been implemented and company secretaries would have provided the necessary updates and guidance to companies on the information required for purposes of completing and filing of the annual return to the CCM.
The filing of the financial statements through MBRS 2.0 requires the preparation and validation of the financial data and information through an online system and generated in a specific MBRS 2.0 format. As the process could be onerous and time consuming, companies are urged to urgently engage with their financial consultants / auditors on the support and services required to ensure timely preparation of the financial statements in the required MBRS 2.0 format to ensure that they can be filed with the CCM within the statutory timeline.
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Poh Seng Lim, General Manager, B&M Consultancy Services has co-authored this legal update.
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