Thank you all for your input - much appreciated.

To Mwenenzi's original point, with HKG-KUL-LHR return trips so cheap on MH at the moment (consistently HK$26,000 but at the moment there is a sale with prices around HK$14,000), and the indirect flights earning 20,000 miles in business class, the earn/burn cost is fantastic, and tbh if we can only redeem on MH that is inconvenient but not a great hardship. We have also worked out that the Memsahib (who normally gets Asia Miles redemption tickets while I do the earning) can start doing the earning (and will reach Platinum within a year, which gives me a spouse Platinum card as well) and I can start doing the burning!

MH just earned another loyal customer :-)