hi there , I'm from local Indie Games Development team
Ammobox Studios. I'd like to share a bit of my 2cent about games development in Malaysia.
I think it is a bit misrepresented that Malaysia only have Gamebrains and Codemasters or that Phoenix Games Studios ( creator of Fung Wan ) has 'closed shop'.
Firstly, Malaysia have many other games/animation related company, just to list you some ( other than codes/gamesbrains ), Streamline Studios, Sage, Titoonic ( now Citizentree ) , riverwalk, Cubiinet , Igloo,
there are a bunch of other more.
I don't particularly think it is hard to get job in any of those company as long as you have a solid skill that you're confident with . Be it programming or art , or sound.
However, if you want to make game, you don't have to work for a game company. Of course it helps by providing you more experience and contact, but bear in mind because you work for games company doesn't mean you get to work on a game that you like.
The statement that it is impossible to go into gaming industry in Malaysia is a bad idea is such a wrong statement. Always remember this, starting indie team in ANY part of the world is same. With internet available we are equipped with the very SAME knowledge that is available to any americans, Europeans, or anyone else for that matter. Everything that can be learn there can be learn here. Most indie development teams have no studio experience. I can testify to that as half of our development team at the moment are not from Malaysia and they work on our game because it is a game that they like and they believe in the team behind it. None of them have studio experience.
It is true however that Malaysians are suffering from Brain drain, everybody knows that. There are better paying job in other countries, thus they're all being leeched internationally.
However, to get back on topic, for those who really want to start their hands into the games development industry. Picking up a specialization , and joining and indie team is the best way whether it is a modding team or a commercial team. Don't be trapped by the idea that Indie team are a bunch of hobby-ist having too much time in their hands and are people who live with their parents up to 30 years old. Indie teams are not just that, some indie teams are seriously capable of producing AAA quality games today due to the tools that are available at very low cost.
One of the team that I know is
http://www.interstellarmarines.com/so well.. that's my 2 cent.