Can you provide the month that her contract will end?

Let's say she changes to SP 98 with discount of RM20, so that would be RM78 monthly.

You said she uses SP 148 with some top up (you said RM190++), I'll take an average of RM160.
Savings per month is RM148-RM78 = RM82

Penalty is RM858, so,
RM82*12 - RM858
=RM 984 - RM858
=RM126

If she takes SP98(RM78) and her current monthly bill average is RM160, she would save RM126.

Yep 

Give them a call, I've just did. My wife's number is under my name, currently under smartplan 98. I've read somewhere that they've upgraded the smartplan 98 to 10GB with 4GB rolling, 300call minutes/sms. So, I called them this morning, at first the rep hesitate, saying I should complete the contract (Oct 17), then I used this "Are you becoming like MAXIS now?", the rep was giggling and then said let him check for a minute or two, put me on hold and then said, yes, we could actually upgrade the data and calls/sms to the latest as long as you're paying the same/more without a need to breach the contract. A minute after that got the confirmation sms. All is well! ..

Now, I should've asked the same question for my other account, my kid using it for her iphone.