"If Malaysia-based capital becomes more involved in the scene, there could be dividends at home, giving the country more leverage to persuade these companies to set up operations within its shores and employ and train locals – a multiplier effect for both capital and jobs, say industry players."

If Malaysian ops is a poor decision if your VC isn't Malaysia, it wouldn't magically become a good decision if your VC is Malaysia. Which suggests that this strings-attached money might not be in the fiduciary interests of the company.