Negotiated in MYR

Hello,

I am from Pune, India. My company plans to relocate me to Malaysia with a subsidiary company for managing business operations in entire of South East Asia. I am a Engineer + MBA with 10 + years experience, Married with Kid ( 3 yrs )

Here's the offer :
MYR 12K + Car & fuel with maintenance. Taxes if any; will be paid by the company.

My accommodation needs to be around 800 square ft. and in proximity / well connected to Global International school / other CBSE or ICSE school.

I may want to live a modest lifestyle and still save around Rs 10 Lacs a year.
Is it workable at these salary levels ?

Yes workable.

I make that saving over 5,000 rm per month and exchange rate might get worse.

After tax you will get under 10k (unless you mean they pay you higher rate and after tax 12k). Often when Malaysians say tax taken care of they don't mean net rate!!!!!! So check.

With kids and school fees you will be worse off financially. A car is handy and with 2k a month so handy to get. But of course career advancement may make it worthwhile.

Why not ask for school fees to be paid? Then worthwhile. That was normal in the past if asked to relocate.