Let me summarise Dr M's economic policy.
He used oil and gas wealth to Buy over non Bumi companies and passed it over to bumis to run, mostly under GLC and cronies.
Unfortunately, this caused income from taxation to fall as those who were bought out either left the country with the wealth or invested elsewhere. Hence you may find Malaysians with big cattle herds or farms in Australia and new Zealand. Leaving their bungalows in KL abandoned in disgust.
Plus wealthy Malaysians don't really live in Malaysia.
They live elsewhere like the Riviera, or London, or Hong Kong. Maybe some in sinkie.