Used Chatgpt to analyse both package, the summary below:

Short-Term Advantage: Thailand, due to the higher COLA (initially) and relocation allowance.

Long-Term Advantage: Malaysia might be more consistent with a stable base salary and guaranteed bonuses.

Bonuses: Thailand offers a slightly more lucrative bonus structure.

Retirement Contributions: Thailand offers a slightly higher employer contribution to the provident fund.

Work-life balance: Both jobs offer the same amount of annual leave.

If you're prioritizing short-term financial benefits, Thailand seems to offer more attractive perks like COLA and relocation allowances. However, if you're looking for long-term stability and guaranteed income (with no drop in living allowance after a few years), Malaysia may be a better fit.

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Info:

No contract constraint on the one-time relocation allowance, meaning if I chose to relocate to TH and get the allowance, I can find a new job and leave immediately - no need to pay back anything to the co. However, my intention is to stay long term with the co.

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At the end, I chose to stay in Malaysia for long term stability. It make no sense to me to work in TH with a salary reduction every year as this will be demotivating to me in the long run.

Thanks for all the feedbacks here, much appreciated.