Omesti group bags RM17mil project from Companies Commission

Omesti Berhad executive director Mah Xian-Zhen at the Kick Off Projek e-kehakiman Fasa 2 by Chief Justice Tun Arifin Zakaria in Putrajaya. MOHD SAHAR MISNI/The Star

KUALA LUMPUR: Omesti Bhd’s 51% owned subsidiary Formis Network Services Sdn Bhd has been awarded a RM17mil contract by the Companies Commission of Malaysia (SSM) to develop a new XBRL online document submission platform to enable companies to file annual returns and audited accounts electronically.

Omesti, which is currently developing the Federal Court of Malaysia’s eCourts infrastructure, told Bursa Malaysia that the project formed part of a comprehensive re-engineering of the SSM online infrastructure to an XBRL (eXtensible Business Reporting Language) domain.

The new platform would allow SSM to capture critical financial information and other key data from registered companies, to provide powerful analytical insights into the Malaysian business landscape, it said.

Omesti group executive director Mah Xian-Zhen said, “The new XBRL SSM platform will automate the process of data collection, transform the submission of statutory reports by registered entities and enable data consumers to analyse company information.

“This will change the way data can be captured and shared by SSM and will significantly enhance its standing as a resource for vital corporate insights.”

The project is scheduled for completion by December 2017.