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"Content homogenization and intellectual property infringements are among the top reasons why users and investors have shown a higher level of rationality toward the once-explosive sector," said Liu Shijie, an analyst at consultancy iMedia.

"Chinese companies have been continuously increasing investment in Malaysia and actively deepening cooperation in areas like infrastructure and e-commerce. Meanwhile, the enthusiasm of Malaysian companies investing in China also continued to rise, with Malaysian enterprises expanding their presence in the commercial, manufacturing and other industries in China," the minister counselor said.

"China's economy has been transitioning from a phase of rapid growth to a stage of high-quality development," according to the report of the 19th National Congress of the Communist Party of China in October.

"Cultural companies were absent from the IPO deals in the TMT sector, indicating the sector's development is imbalanced. But with the new guideline, it can be predicted that there will be more cultural companies going public in 2019," said Wang.

"Chinese retailers look for brands that are well placed to expand into their own growing markets where an influential, well-connected name can help to open doors with mall owners, landlords etc, that can be promoted to quickly appeal to shoppers," said McKeever. "As this owner was already familiar with the brand…that knowledge and expertise augers well. Given the rate of expansion in Chinese malls this would seem an ideal opportunity and great fit."