XBRL Filing

eXtensible Business Reporting Language or XBRL is a language for the electronic communication of business and financial data worldwide. XBRL is an open-source software that enables the organization and management of financial data for research and analysis. It also facilitates the communication of financial information online and among businesses with significant accuracy and reliability.

Accounting and Corporate Regulatory Authority of Singapore (ACRA) has adopted XBRL as part of its overall strategy to streamline financial reporting and to enable the flow of financial information into the international business community, and thus promoting a pro-enterprise environment.

XBRL Filing Requirements

As of 1 November 2007, all Singapore incorporated companies, unlimited or limited by shares, must submit their financial statements in XBRL format. Companies that are allowed to continue to file their financial statements in PDF format are as follows:

• Companies limited by guarantee (tabled at the Annual General Meeting)
• Commercial banks, merchant banks, registered insurers and finance institutions; as stated in the Monetary Authority of Singapore (MAS) Financial Institutions Directory
• Companies that are permitted by law to prepare their financial statements in accordance to accounting standards other than the Singapore or International Financial Reporting Standards.

For more information on XBRL Filing, please contact our associates at +65 63910024.