MBRS 2.0 PHASE 3: JUNE 1 LAUNCH, END OF PHYSICAL SUBMISSIONS

MIRI, April 27 (Bernama) -- The third phase of implementation for the Malaysian Business Reporting System 2.0 (MBRS 2.0) will begin on 1 June, involving documents under the Companies Act 2016, Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali said. 

He said that with this phase’s implementation, the physical submission of statutory documents at the Companies Commission of Malaysia (SSM) counters will be completely discontinued starting from that date.

“Phase 3 will take effect on June 1 this year, covering Audited Financial Statements (AFS), applications and submissions for rectification or court orders for AFS, as well as all applications related to time extensions or exemptions for AFS under the Companies Act 2016."

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“This aligns with the MADANI government’s agenda to boost digitalisation of government agency services,” he told a press conference after officiating the SSM Miri branch office at Miri Times Square, Marina ParkCity, here today.

Armizan said MBRS 2.0 is an enhanced version of the original MBRS system, designed to streamline the submission process for annual returns, financial statements, reports and exemption applications in stages under the Companies Act 2016 and Companies Act 1965.

Armizan said the system was developed as a digital platform to replace physical counter submissions, aiming to improve efficiency, transparency and user convenience.

He said Phase 1 of mandatory statutory document submissions via MBRS 2.0 was implemented from Dec 1 last year, covering Annual Returns (AR), Unaudited Financial Statements and Reports (UFS), Exempt Private Company (EPC) Certificates, as well as applications for rectification or court orders for AR and UFS under the Companies Act 2016.

Phase 2, effective March 1, involves AR, Financial Statements and EPC Certificates under the Companies Act 1965, Financial Statements for financial institutions regulated by Bank Negara Malaysia under the Companies Act 1965 and 2016, and documents related to foreign companies.

At the event, Armizan also presented corporate zakat wakalah and Corporate Social Responsibility (CSR) contributions from SSM totalling RM197,356.

A hearse van worth RM137,356 was handed over to the Al Ummah Mosque here, while RM60,000 was distributed to asnaf (recipients eligible to receive zakat), persons with disabilities (PwD) associations and surau around Miri.

-- BERNAMA