if you're into acoustic guitars, try the following brands:-

marvelle
they have this particular model called the JD rheme series which is about RM200. very good entry level guitar. lotsa music shops are retailing this guitar so it's pretty easy to find

fina
woh fatt's in house brand. manufactured in china. not too bad. price ranges from RM200 - RM500. my fren bought 1 & i think it's worth every buck.

SX
i don't really need to say anything more...

for electric guitars, if i had a budget of RM500 i will only buy a SX & nothing else. guess that speaks volume about how i rate this brand huh?

if you have a lil bit more $$$ to splash, then go for squier guitars. they make real value fo money fender clones.

as for guitar amps, i really like the new peaveys & fenders which are made in china. really cheap & sounds good! esp. the fender FM series, try checking it out in bentley