@et

I can definitely see the benefit of MH being a EK feeder to both MH and Malays. Just like 9W is benefiting from EY partnership. Couple of differentiating factors between 9W and MH.

IMHO 9W will end up as pure EY feeder. There are subtle indications like their order book (No WB orders and just 75x737MAXes), 9W closing BRU, moving MRO to AUH. It works for 9W because
1) Most of its 23 Indian stations are in reach of NBs.
2) It never invested much in any Indian hub.
3) 23(or less) x B737MAXes doing the RT to AUH, and do domestic if time permits and financially feasible. It will be an excellent money maker.

In contrast
1) KUL is a major and fast growing hub, With this deal, KUL will get the short end of the stick.
2) Not sure if MH can feed DXB from all Malay stations using NBs. Sure WBs have the legs but not economics. May be A321NEOLR will help.
3) If EK/MH still hub at KUL, one additional stop for Malays.

Having said all that, I thing this is the best for MH.