Malaysia: Mandatory XBRL Filing of Financial Statements
On 26 November 2024, the Companies Commission of Malaysia (CCM) announced that all companies must submit their audited financial statements in XBRL format through the MBRS 2.0 digital filing system. This expands the scope of XBRL reporting, which now applies to all companies without exception. The new requirement does not alter existing deadlines for circulation or lodgement of audited financial statements. Companies must circulate audited financial statements within six months of their financial year end and lodge them with the Registrar within 30 days of circulation.
Key changes and requirements
All companies are now required to prepare their audited financial statements in XBRL format for submission via MBRS 2.0. This requires engaging a provider capable of preparing audited financial statements in the required format, typically the appointed auditors. Companies must then submit the audited financial statements in XBRL format to the Registrar within statutory timelines.
The only document required for compliance is the audited financial statements prepared in XBRL format. The change does not require amendments to the constitution, resolutions, or additional corporate documentation. The network did not specify any restrictions relating to signatures or the need for English translations.
Deadlines for preparation, circulation, and lodgement of audited financial statements remain unchanged. Non‑compliance with preparation, circulation, or lodgement requirements is subject to penalties.
| Matter | Section / Regulation | Public Company | Private Company | Maximum Penalty |
|---|---|---|---|---|
| Submission of Annual Return | 68(1) | Company must submit Annual Return within 30 days of incorporation anniversary. | Same requirement. | RM 50,000 (USD 12,735) |
| Preparation of Audited Financial Statements | 248(1) |
Director must prepare: • First audited FS within 18 months of incorporation • Subsequent audited FS within 6 months of financial year-end |
Same requirement. | RM 500,000 (USD 127,350) |
| Circulation of Audited Financial Statements | 258 | Must be circulated at least 21 days before AGM. | Must be circulated to members within 6 months of financial year-end. | RM 50,000 (USD 12,735) |
| Submission of Audited Financial Statements | 259(1) | Must be submitted within 30 days from AGM date. | Must be submitted within 30 days from the date circulated to members. | RM 50,000 (USD 12,735) |
| Annual General Meeting (AGM) | 340(2) |
• First AGM within 18 months of incorporation • Subsequent AGMs: within 6 months of FYE AND not more than 15 months after previous AGM |
No requirement to hold AGM. | RM 20,000 (USD 5,095) |
How can we help?
Computershare can support companies by coordinating with auditors to ensure the required information is available, maintaining statutory data in the GEMS platform, and assisting with monitoring deadlines and triggering events to support global reporting processes. This support is administrative in nature and does not constitute legal advice.
Contact
Please contact your dedicated Computershare Relationship Manager or send an email to #GLCGSGECNetworkManagement@computershare.com for more information about how Computershare may assist you in responding to these new requirements.
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