According to the BBC, there are 3 cables affected: FLAG's Europe-Asia, South East Asia–Middle East–Western Europe 4, and SEA-ME-WE 3. Interestingly it was the disruption of the SEA-ME-WE 3 in early 2007 off Taiwan that isolated Malaysia.

I'm not sure why it is affecting Malaysia so much, as our main links are actually to the USA via the Japan-US/HK-US cables (via the Mersing-Shantou/Lantau section of the SEA-ME-WE 3). Probably the Middle-East and India rerouting their connections eastwards towards East Asia and across the Pacific.

Connections to Malaysia/Singapore still fine from the southern hemisphere via the Australia-Japan cable.

Tracert from Australia. Packets go through the USA. Something is not right on Telekom's network.