Plenty of those around me paid the penalty and stayed overseas

Some don't even bother with the bond at all, obtained PR and stayed overseas

Its just a contract after all, sign it for the scholarship if you're desperate, then bail yourself out if you find that you don't like the company / position. Or in some cases where you don't plan to return to Malaysia, you've basically scored yourself a free degree

Not that much require guarantors, I'd say maybe 50:50

ultimately, even if you don't want to work for them and have to pay your fees back, that precious line that you can put in your resume " XXX scholarship recipient" will open up a lot more opportunities for you

my personal experience, applying as a research student to overseas uni, the professors will usually lower the entry requirement for those that are industry sponsored or by their home country, compared to having to allocate fund from their research grant or ask for a fee waive from the uni.

even if you don't like it, take the bond/ scholarship, and pay it back, it will still bring a lot of benefits