Get Ready for MBRS 2.0: What Malaysian Businesses Must Know Before June 2025

 

The Clock Is Ticking: Are You Ready for MBRS 2.0? 

Starting 1 June 2025, all companies in Malaysia must submit their Audited Financial Statements (“AFS”) via MBRS 2.0 using the structured XBRL format mandated by the Companies Commission of Malaysia (“SSM”).

This is not just a routine update — it’s a complete digital transformation in how companies report and comply with the Companies Act 2016.

If your company is not ready, you risk penalties, submission delays, and outright rejection. The good news? You’re not alone.

 

What’s Changing and Why It Matters

Until now, businesses have filed their financial statements in PDF or printed formats. MBRS 2.0 changes all that. The revamped system introduces a fully digital platform powered by eXtensible Business Reporting Language (“XBRL”) — a global standard that enables accurate, machine-readable financial reporting.

🔎 What Is XBRL?
XBRL tags financial data to enable automatic validation and interpretation, making reports easier to review, audit, and compare across companies.

 

Key Shifts Under MBRS 2.0

  • No more PDFs: Only XBRL submissions accepted for Audited Financial Statements starting June 2025
  • Faster processing: Submissions validated digitally in real-time
  • Improved accuracy: Structured tagging reduces human errors
  • Enhanced compliance: Aligned closely with SSM’s regulatory framework

 

What’s the Risk of Ignoring MBRS 2.0?

Failing to comply with the new filing requirements can lead to:
🚫 SSM Rejection – Non-XBRL reports will not be accepted
💸 Fines & Penalties – Late or incorrect filings carry legal consequences
📉 Reputation Damage – Delayed reporting undermines investor confidence
🛑 Business Disruption – Non-compliance can impact your company’s legal standing

In short: Don’t leave this until the last minute.

Here’s How iComSec Makes MBRS 2.0 Easy

We assist SMEs, startups, and foreign-owned companies in seamlessly converting their financial statements into SSM-compliant XBRL files — with fast turnaround times and affordable rates.

Entity Type

Classification

MPERS

(From)

MFRS

(From)

Turnaround Time

Dormant Company

Audited / Unaudited Financial Statement

RM 250

RM 300

3 days

Single Entity

Audited / Unaudited Financial Statement

RM 650

RM 850

4 days

Consolidated Entity

Audited Only

RM 1,000

RM 1,500+

5 days

💡 Note: Rates apply to XBRL conversion only. Additional advisory or correction services are quoted separately.

 

Your Compliance Roadmap: 3 Simple Steps

Becoming MBRS ready is easier than you think. Here’s what you need to do:
✅ Step 1: Prepare your signed Financial Statements (PDF or Word format)
✅ Step 2: Collect all supporting documents (if applicable) into a zipped folder
✅ Step 3: Send your files to iComSec — we’ll handle everything from tagging and validation to formatting and final submission.

Relax knowing your compliance is in expert hands.

 

What’s the Rollout Timeline?

SSM is implementing MBRS 2.0 in phased stages:

Date

Requirements

1 Dec 2024

Unaudited Financial Statements, Annual Returns, Extensions of Time (EOT) filings

1 Mar 2025

Unqualified Financial Statements (UFS) per Companies Act 1965, Bank Negara regulated reports, etc.

1 Jun 2025

Mandatory: Audited Financial Statements in XBRL format

⏰ The final phase is mandatory. All companies must comply by June 2025.

 

Why Choose iComSec?

  • Experienced Team: Experts trained in XBRL standards and MBRS 2.0 compliance
  • Fast Turnaround: Compliance-ready files delivered in as little as 3 working days
  • Accurate & Trusted: Minimize errors, delays, and rejection risks
  • Easy Process: Minimal effort from you, maximum support from us

 

Don’t Risk It. Get MBRS Compliant Today.

Time is running out, and the consequences of delay are serious. Let iComSec handle your MBRS 2.0 submission with speed, accuracy, and professionalism.

📞 WhatsApp Us Now → Click Here