I spend my final year study in Australia. Could have gotten PR if I stay another year doing my Master.

I was in Melbourne that time and I think it is a great place to stay. Nice city, you have chinatown, a greek street, an italian street and etc. Great public transport, you can go anywhere by taking a bus & train. Nice weather too besides the summer. My friends that stay back at Australia are getting at least 60k/year. The tax is around 20%+.

Getting a PR in australia doesn't mean you can't come back to Malaysia. I think to make the PR permanent you just have to stay 2 out of 5years there if i am not wrong.