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Who should submit financial statements in XBRL format to SSM MBRS?

Criteria for companies required to file financial statements in XBRL and exemptions

Statutory Requirement

SSM requires all Malaysia incorporated companies to file their annual returns and financial statements in XBRL format except for companies such as insurance institution, banking and other financial institutions that are regulated by the Bank Negara Malaysia.

Depending on the exemption approved, the mandated business entity may have to submit,

  • Full set of annual returns and financial statements in XBRL format (or)
  • Only Key Financial Indicators (“KFI”) in XBRL format

Who need to file their annual returns and financial statements in XBRL format?

Malaysia incorporated companies, both public and private, are required to file their annual returns and financial statements with SSM-MBRS. The XBRL report has to be prepared in accordance with applicable standards such as Malaysian Financial Reporting Standards (MFRS) Taxonomy or Malaysian Private Entity Reporting Standards (MPERS).

Foreign companies are allowed to submit FS-FC once granted approval for the Application to waive lodgment of financial statements by foreign company (EA3) from SSM.

Who are not required to file in XBRL format?

The following type of companies are excluded from filing the full set of XBRL financial statements and can file through the counter at SSM officesp>

  • Companies which fall under the scope of (1) Commercial Banks; (2) Merchant Banks; (3) Registered Insurers; and (4) Finance Companies that are regulated by the Bank Negara Malaysia.
  • Companies that are not incorporated in Malaysia and registered as foreign company under Company Act 2016.

Who can file only Key Financial Indicators (“KFI”) in XBRL format?

If a company is submitting only the Key Financial Indicators (“KFI”) then EA2 (Application for Exemption from Filing Financial Statements in Full XBRL Format) must be submitted and approved by SSM before a company is allowed to submit a KFI.

In general, if a company is seeking exemption, the appropriate exemption application must be submitted and approved by SSM before filing relevant financial statements or KFI on MBRS portal.

What are the type of exemptions available related to submission of financial statements and annual return?

In relation to the submission through MBRS, there are certain exemption for filing which companies can apply on the MBRS portal through Exemption application (EA):

  • EA1 - from coinciding foreign subsidiary financial year end with holding company
  • EA2 - from filling financial statement in the full XBRL format.
  • EA3 - for the foreign company to waive the lodgement of financial statement.
  • EA4A - for the relief from the necessity of the content in the report of the director.
  • EB4B - for the relief from the requirements as to form and content of financial statements
  • EA5A – for giving time extension for circulation of financial Statements and Reports
  • EA5B – for extended time for lodge report and financial statement
  • EA6 - for extended the timing to hold annual general meeting
  • EA7 - for extension of time to lodge annual return
  • EA8 - for ministry approval on filing of annual financial statements


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