If you're paying RM300k for an MBA it better be from a top b-school ie. Harvard, Stanford, INSEAD, Columbia, Kellogg, Wharton, LBS. If it's not one on this list then you're wasting your money.

If you're paying your whole MBA yourself then you're not thinking strategically. Scholarships and loans will open up to you once you've been accepted to any of those schools above which can cut down the cost by a fair bit. From personal experience you need the initial 20% and the rest are covered by scholarships and loans.

The key is to get accepted to one of those top schools. This is the most difficult step. Once accepted, your options open up. To get accepted you need to:

1. demonstrate that you're successful enough in the 2-3 years work experience that you have, plus you fit the profile that these schools want
2. do GMAT, write the application essays, get recommendations
3. apply! There's an application fee but that's the only fee you have to pay up front.

If you're not accepted, you can try again the year after if you can figure out what you did wrong. Alternatively save the RM300k and start a business or buy a house or ... Paying RM300k for a no-name MBA is not very prudent.

I'm speaking from personal experience, I was accepted and joined one of those schools above, spent about RM300k as well and my ROI is less than 2 years.

If you're hedging your bets, then apply for several schools. Don't depend on scholarships from local institutions, in my experience they've been slow and the b-schools themselves have scholarships too. You can also defer your entrance depending on the school, talk to them, they're people and they understand. I went to INSEAD, did my undergrad in engineering at one of the Ivies. I don't think they look at the GMAT all that much past 720 or so. I worked for much more than 2-3 years, but across industries/regions.

LYN is not a good place to ask these questions, there are other forums with like minded individuals. I recommend you try those instead.