I would suggest the following:-
1. Get another car that costs less than 1K per month - Saving of RM439 per month.  Get a more economical car like a Myvi will cost you less than RM800 per month.  Why add a bike if you have a car loan unless you plan to sell the car and get a bike.
2. Your son's insurance is pretty high. Is that an education plan or just a medical card?
3. Instead of a landline perhaps you can get a family plan attach to your current mobile plan.  You can limit the credit to RM30 per month for the home phone.
4. I notice you have two house loans.  Is any of the houses bringing in any income or is income from that property already included in the RM6775?

Hmm...well IMO the car cost the most and is not an investment but a liability.  Even if you seldom use the car, the value drops each year and you have to pay road tax and insurance.  Maintenance for a high cost car is also higher.  Having a bike may save you some money but replacing the car would save you more in the long run. You are paying RM1.4K++ every month but the value drops by about 15% every year (depending on the type of vehicle). A bike also comes with increase risk. Statistically it is more dangerous to ride a bike then a car in Malaysia. Now that you are a father, this should be a consideration. Assuming you are the primary income earner, your well being is very important for your family.

The medical for your son is really high. I pay RM650 per year for my daughter and although the coverage is not luxurious i.e. the RM400 per night room but the RM200 per night room which I think is reasonable.  How much is the estimated return for your son's education plan? I am currently paying RM300 per month and the estimated return when she reaches 18 is about RM70-80K (depending on the returns).  I have also purchased an apartment to be redeemed for her education which is currently valued at approximately RM140K with an initial investment of RM20K.  The apartment is currently being rented out so it is paying for itself without any additional payment from me. I hope to be able to have at least RM200K for her tertiary education. The idea is that perhaps you should explore other investment vehicles for education savings because the insurance alone may not be sufficient.

Don't forget your own retirement as well. I am not sure how old you are but if you are in your 30s, you should start putting away the $$ for retirement.

Best Regards

at your situation, I dont advice you to get bike...bike are definitely higher risk of getting yourself killed in an event of accident (touch wood), its ok if you are still single and young, but you already have dependents.

instead, try not to get insurance instead for a year or 2( the risk is definitely lower than getting a bike and die) than you can resume getting insurance 2 years later. imagine how much money you can save everymonth without having to pay for insurance.

i'm 26 this year... Would require some advice on my financial management

INCOME:
Salary : RM 3890 (before tax,epf deduction)

LIABILITIES:
Food: RM600
Small room rental: RM 340
Utilities bills: RM 50
Phone: RM 50
Transportation: RM100
Insurance: RM 150
Parents: RM 500
Study Loan Repayment :RM 500
TOTAL :  RM2290

I'm planning to get a car soon which I think it'll be a quite a burden for me.
I expect there'll be at least additional 1k liabilities.

What can i do for better cash flow?