It's better for Malaysia to continue with Advanced Super Hornet, don't be cheap on defense.
In the long run Malaysia could opt for F-35s or maybe KF-21 Boramae, Malaysia is quite a vast country, it'll need twin engine aircraft and huge fuel capacity, especially to defend Malaysian outpost in the South China Sea.
Malaysia's experience with it's Mig-29 and it's troublesome engine should be put into account when they evaluate JF 17, consider it had the same engine (or derived from it).
Having FA-50 will not help Malaysia deter an ever assertive China.
So does having Tejas, which is a very small plane. Which I believe having a small combat radius.