Need local partner

The one issue with Malaysian/foreigner collaboration in business, if you want to have a formal and legal arrangement, it does require a lot of paid up capital. Only Malaysians are able to set up sole proprietor businesses, so with that structure your input would be informal unless you drew up something like an intellectual property agreement. Then it would be down to trust to share the business benefits. I mention this because of the GST charges and reporting that are required by law in some  cases - or wanted by clients who wish to off-set their business expenses that way.

Online businesses are booming generally in Malaysia and if the currency for the business transactions is not MYR, then Labuan-based structures can be useful - but care needed as there are overheads etc.

There was a posting on here earlier which is probably now under Community/Classifieds of a Malaysian with a business idea looking for partners. Generally it depends what you want to achieve from a partnership in the longer term, but of course starting things off small using internet-marketing is a good way to test the market. You might want to also place a note in that section as the Forum posts quickly move out of sight but the Classifieds remains more accessible for longer. To attract some interest, you may wish to mention broadly which business sector in which you wish to cooperate. You never know, the guy looking for partners as well, might want to work on more than one business idea.

What kind of bussiness

I have a 350k paid up capital running business which i am going to sell bcoz i am relocating  to canada , its a local-foreigner company and its been running from last 3 yrs if any one interested to buy over then automatically  he will be a director of the company like me.