Moving and retiring in Malaysia

The main step is to check if you qualify for the Malaysia My Second Home visa which will allow you to live here:

https://www.penangmyhome.com/

Their website has a lot of information and the internet is full of blogs about living in Malaysia.

The government site is also useful: http://mm2h.gov.my/index.php/en/

Most western expat retirees live on Penang Island (Pulau Penang). A few live in Ipoh, and virtually none around KL, which is more a business location and has very little to offer the retired, unless you are looking for golf (which is available elsewhere too).

It is also possible to get the MM2H visa for Sabah (Kota Kinabalu) and Sarawak (Kuching) i.e. Eastern Malaysia, but it is a different application route than for peninsular Malaysia.

If you know nothing about Malaysia, suggest you spend about 3-4 weeks visiting the various areas to see which appeal to you.

I'm living and retired in Sarawak. I'd suggest a visit to Kuching. It's a different program that the MM2H. For one thing it's definitely a retirement program (over 50, no work without government permission). It retains both a pension (RM10,000/month guaranteed pension/annuity for a couple) AND a separate Fixed Account (RM150,000 for a couple) option. There is a lower level for singles (RM7000 or RM100,000FD).

Sarawak does not require examination of your liquid assets...just proof (3 months warrant slips) that you have the pension income...or that you have deposited the Fixed Account sum in a bank.

If you are looking for a place with a slower pace, a unique culture, lots of nature, then consider Sarawak. You can buy or rent. 

You do need a local sponsor. But there are some agents. Or make some quick friends.