Update on my experience in shipping to Malaysia/Indonesia:
Have not tried shipping to Malaysia still. But had an opportunity in shipping a USD 800 (declared value) watch twice to Balikpapan (somewhere very "ulu" in East Kalimantan, Borneo)
and it was a breeze..takes a while..but was not a problem at all. in fact the watch was sitting in the post office for a week because the buyer didnt have time to pick up the watch when he wasnt at home. he was glad to find that the watch remained "unscathed"
so i am not sure if it's two-times lucky or what, but everything was smooth.
Oh by the way, I used EMS-Speedpost, and insured with ParcelPro. PP advises to list the item as "timing instrument" instead of "watch" so that may help??