A couple of studios in Penang:

Man Koay Jamming Studio
Address/Landmarks: 2nd floor, shoplot in front of USM (Sg. Dua gate)
Contact Number: 0134807838 (Man)
Number of Studios: 2
Per hour: RM17 & RM25
Additional Info: Studios are decent, the RM25 one has double pedal for drums and marshall & behringer amps. The boss is a musician himself, really friendly guy, trustworthy.

Soundgate
Address/Landmarks: Bukit Jambul, near Scotia bank, shoplot 1st floor
Contact Number: 0174123243 (Farhan) / 0164287730 (Am)
Number of Studios: 2
Per hour: RM25
Additional Info: Spacious & comfy jam room, well equipped, instruments well maintained, Marshall guitar amps, Smarvo bass amps, but need to book early cuz heavy traffic.