Welcome to PER FromTheRail

Given that AA no longer has a "soft landing" each person really does need to think about the available FF programs carefully. Also from PER it is important that pricing exSEAsia be considered as it possible to save substantial sums. Seats from PER to SIN-KUL-HKG (perhaps in Y) are less important than the price of premium seats from there to Europe.

AA still does have the best earn/burn ratio. And a trip to Europe from PER (even on two separate tickets) will likely qualify (using Y+ or J longhaul) for AA Gold. Will you have enough additional flying to reach PLT? Downside is reduced levels of credits from QF to AA. Upside is AA award tickets internal to Oz/NZ are huge bargains considering PER starts.

CX treats their members very well and Silver members get lounge access where CX lounges are found. 24K in J or 30K miles in Y are needed. Consider carefully where CX fares to Europe are purchased though.

There haven't been enough reports (IMO) from the MH members to know whether Enrich is useful for redeeming flights. Seems that regional flights are now mostly on 738s if you have a preference (or not) for widebodies. And MH airline charges vary greatly depending on the originating airport.

The deciding factor for you is likely to be where to and how often you fly into SE Asia and whether you fly QF domestically on the cheapest Y fares.

Happy wandering

Fred