eKTP 99

Malaysia Business Reporting System (MBRS)
Part 3 of 3 

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The launching of MBRS by SSM is expected to benefit the public delivery system, thereby reducing business costs for companies. Besides that, it is also expected to:

1. Expedites the updating of information, data exchange enforcement and information dissemination to stakeholders;

2. Paperless or reduce the usage of hard-copy submissions of Annual Returns and Financial Statements and Repots;

3. Time and cost saving of gathering financial and non-financial information;

4. Enhancing financial and business reporting and simplify ways for stakeholders to use, share, analyse and add value to data for better decision making;

5. Enhancing data quality, integrity and reliability because the tool will include validity check and automated calculations to eliminate errors;

6. Enhancing corporate compliance processes as Financial Statements and Reports have to be submitted in accordance to the approved accounting standards;

7. Provide SSM and other regulators with detailed data which can be aggregated and aid investigative efforts and other compliance.