I know quite a lot of them doing PhD in my university and overseas. Usually fellowship scheme is for candidates to pursue PhD at Top Tier University (Cambridge, Oxford, Harvard or any Top 20 Uni in the world). I don't know whether they still send students overseas with our economic conditions. However I do believe the scheme is still there. The staff from the uni who want to continue PhD will be given the priority for this scholarship but you still can apply. All you have to do is to download the forms from HR department or maybe you can email them if it is not available through their website. Then they will invite you for interview if they like it. Waiting time from submission of the form to their first decision depends on department you are applying. If the Ketua Jabatan likes you so much, then you will get it. But if they don't like you, then forget it (based on my experience).