AN OVERVIEW OF MALAYSIAN BUSINESS REPORTING …downloads.macs.org.my/announcements/20190116-cssm-annual-dialogue... · 11 28 Sep 2018 Poster promosi MBRS 12 29 Sep 2018 Video penerangan

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.

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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.

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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)


- 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


- 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


- 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

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SSM TAXONOMY (SSMxT) CONSULTATION PROCESS

SSM TAXONOMY (SSMxT) IN XBRL TAXONOMY REGISTRY

https://taxonomies.xbrl.org/taxonomy/67

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COMPONENTS OF MBRS

MBRS

SECOND COMPONENT

MBRS

Preparation Tool

(mTool)

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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

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MBRS PREPARATION TOOL - INTERFACE

MTOOL: FINANCIAL STATEMENTS

- FILING INFORMATION






- CONTENT PAGE


-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

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COMPONENTS OF MBRS

MBRS

THIRD COMPONENT

MBRS Portal

(mPortal)

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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

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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.

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5. Click “MBRS” icon to access MBRS Portal (mPortal).

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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


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.

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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

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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.

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MBRS

ANNOUNCEMENT & PROMOTION

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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

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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




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


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.

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INTEGRATION WITH

ACCOUNTING SERVICE PROVIDER

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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

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MBRS RESOURCES CENTRE

@SSM PORTAL

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MBRS@SSM PORTAL

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MBRS@SSM PORTAL

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MBRS@SSM PORTAL

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MBRS RESOURCE CENTER

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Insert new print screen

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http://www.ssm.com.my/Pages/Services/Other-Services/MBRS.aspx

http://www.ssm.com.my/Pages/Services/Other-Services/MBRS.aspx

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MBRS SUPPORT CENTRE

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THANK YOU

Documents

AN OVERVIEW OF MALAYSIAN BUSINESS REPORTING …downloads.macs.org.my/announcements/20190116-cssm-annual-dialogue... · 11 28 Sep 2018 Poster promosi MBRS 12 29 Sep 2018 Video penerangan