Why?

Normally thats the case in Malaysia. Good result means higher chance to secure an interview but not the job. To determine whether you will get the job or not depends on your interview.

But companies like SLB do consider people with lower cgpa(as in second class upper/lower) to attend their interview/assessment. They really love people who are street smart and able to handle pressure.

And yes, results do play a big role in landing your first job as you dont have any working experience.

Dude try apply for international companies. Some of my friends not even reached 3, now working in SLB and Halliburton.

Don't get discouraged. Try and try.

BTW, not all 3 pointers are bookworms and not all 2nd graders are street smart. Individual basis. 

dude, it's obvious they had the luck to have their resume get spotted by HR and you dont, Just keep trying. I encountered your situation several times before i secured a job in OnG.