As filed with the Securities and Exchange Commission on August 29, 2003

                                                Securities Act File No. 33-68048
                                        Investment Company Act File No. 811-5082

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                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   ----------

                                    Form N-2

           Registration Statement under the Securities Act of 1933           [_]
                         Pre-Effective Amendment No.                         [_]
                        Post Effective Amendment No.                         [_]
                                     and/or
       Registration Statement under the Investment Company Act of 1940       [X]
                              Amendment No. 12                               [X]

                        (check appropriate box or boxes)

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                             The Malaysia Fund, Inc.
               (Exact Name of Registrant as Specified in Charter)

                           1221 Avenue of the Americas
                            New York, New York 10020

                    (Address of Principal Executive Offices)
       Registrant's Telephone Number, including Area Code: (212) 762-7500

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                                RONALD E. ROBISON
                             The Malaysia Fund, Inc.
                  c/o Morgan Stanley Investment Management Inc.
                           1221 Avenue of the Americas
                            New York, New York 10020

                     (Name and Address of Agent for Service)

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                                 With copies to:

                          LEONARD B. MACKEY, JR., ESQ.
                             Clifford Chance US LLP
                                 200 Park Avenue
                            New York, New York 10166
                                 (212) 878-8000

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                                EXPLANATORY NOTE

This filing is made solely for the purposes of: (a) supplementing the Prospectus
of The Malaysia Fund, Inc. (the "Fund") with information regarding certain
sub-advisory arrangements entered into by Morgan Stanley Investment Management
Inc., the Fund's investment manager, and (b) filing as an Exhibit the Amended
and Restated By-Laws of the Fund.



                           PARTS A and B--PROSPECTUS*

ITEM 20. Investment Advisory and Other Services

Effective August 11, 2003, Morgan Stanley Investment Management Inc. (the
"Investment Manager") entered into a Sub-Advisory Agreement with Morgan Stanley
Investment Management Company (the "Sub-Adviser"). As a result, the following
text is hereby added to the section of the Fund's Prospectus titled "Management
of the Fund - The Investment Manager":

Sub-Adviser

Morgan Stanley Investment Management Company ("MSIM Company"), located at 23
Church Street, 16-01 Capital Square, Singapore 049481, a wholly-owned subsidiary
of Morgan Stanley, serves as investment sub-adviser for the Fund on a day-to-day
basis. MSIM Company selects, buys and sells securities for the Fund under the
supervision of the Investment Manager. References in the Prospectus to the
Investment Manager, when used in connection with its activities as the Fund's
investment adviser, include the Sub-Adviser acting under its supervision.

The Investment Manager pays the Sub-Adviser on a monthly basis a portion of the
net advisory fees the Investment Adviser receives from the Fund. The investment
sub-advisory agreement will continue in effect for an initial term of two years,
and thereafter for successive annual periods as long as such continuance is
approved in accordance with the 1940 Act.

______________________
* Pursuant to the General Instructions to Form N-2, all information required to
be set forth in Part B: Statement of Additional Information has been included in
Part A: The Prospectus.



                           PART C -- OTHER INFORMATION

Item 24.  Financial Statements and Exhibits

(1) Financial Statements (Not applicable)

(2) Exhibits

      (a)  (1) -- Articles of Incorporation (Previously filed as Exhibit 2(a)(1)
                  to the Registrant's Registration Statement on form N-2 (file
                  No. 33-68048))*

           (2) -- Articles of Amendment (Previously filed as Exhibit 2(a)(2) to
                  the Registrant's Registration Statement on form N-2 (file No.
                  33-68048))*

           (3) -- Articles of Amendment (Previously filed as Exhibit 2(a)(3) to
                  the Registrant's Registration Statement on form N-2 (file No.
                  33-68048))*

      (b)      -- Amended and Restated By-Laws **

      (c)      -- Not applicable

      (d)      -- Specimen certificate for Common Stock, par value $.01 per
                  share (Previously filed as Exhibit 2(d) to the Registrant's
                  Registration Statement on form N-2 (file No. 33-68048))*

      (e)      -- Dividend Reinvestment and Cash Purchase Plan (Previously filed
                  as Exhibit 2(e) to the Registrant's Registration Statement on
                  form N-2 (file No. 33-68048))*

      (f)      -- Not applicable

      (g)  (1) -- Investment Advisory and Management Agreement between
                  Registrant and Morgan Stanley Asset Management Inc.
                  (Previously filed as Exhibit 2(g)(1) to the Registrant's
                  Registration Statement on form N-2 (file No. 33-68048))*

           (2) -- Research and Advisory Agreement among Registrant, Morgan
                  Stanley Asset Management Inc. and Arab-Malaysian Consultant
                  Sdn Bhd (Previously filed as Exhibit 2(g)(2) to the
                  Registrant's Registration Statement on form N-2 (file No.
                  33-68048))*

           (3) -- Sub-Advisory Agreement between the Manager and Morgan Stanley
                  Investment Management Company**

      (h)  (1) -- Form of Dealer Manager Agreement (Previously filed as Exhibit
                  2(h)(1) to the Registrant's Registration Statement on form N-2
                  (file No. 33-68048))*

           (2) -- Form of Soliciting Dealer Agreement (Previously filed as
                  Exhibit 2(h)(2) to the Registrant's Registration Statement on
                  form N-2 (file No. 33-68048))*

      (i)      -- Not Applicable

      (j)  (1) -- Custodian Agreement between Registrant and Citibank, N.A.
                  (Previously filed as Exhibit 2(j)(1) to the Registrant's
                  Registration Statement on form N-2 (file No. 33-68048))*

           (2) -- Custodian Agreement between Registrant and Morgan Guaranty
                  Trust (Previously filed as Exhibit 2(j)(2) to the Registrant's
                  Registration Statement on form N-2 (file No. 33-68048))*

           (3) -- Form of Subcustodian Agreement (Previously filed as Exhibit
                  2(j)(3) to the Registrant's Registration Statement on form N-2
                  (file No. 33-68048))*

      (k)  (1) -- Memorandum of Understanding (Previously filed as Exhibit 2(k)
                  (1) to the Registrant's Registration Statement on form N-2
                  (file No. 33-68048))*

           (2) -- Form of Agreement for Stock Transfer Services (Previously
                  filed as Exhibit 2(k)(2) to the Registrant's Registration
                  Statement on form N-2 (file No. 33-68048))*



           (3) -- Form of Administration Agreement (Previously filed as Exhibit
                  2(k)(3) to the Registrant's Registration Statement on form N-2
                  (file No. 33-68048))*

           (4) -- Form of Information Agent Agreement (Previously filed as
                  Exhibit 2(k)(4) to the Registrant's Registration Statement on
                  form N-2 (file No. 33-68048))*

      (l)  (1) -- Opinion and consent of Sullivan & Cromwell (Previously filed
                  as Exhibit 2(l)(1) to the Registrant's Registration Statement
                  on form N-2 (file No. 33-68048))*

           (2) -- Consent of Shook Lin & Bok (Previously filed as Exhibit 2(l)
                  (2) to the Registrant's Registration Statement on form N-2
                  (file No. 33-68048))*

      (m)      -- Not applicable

      (n)      -- Consent of Price Waterhouse (Previously filed as Exhibit 2(n)
                  to the Registrant's Registration Statement on form N-2 (file
                  No. 33-68048))*

      (o)      -- Not applicable

      (p)      -- Not applicable

      (q)      -- Not applicable

__________
Other Exhibit:  Power of Attorney*

*   Previously filed.
**  filed herewith.



                                   SIGNATURES

     Pursuant to the requirements of the Investment Company Act of 1940, as
amended, the Registrant has duly caused this Amendment to the Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of New York, State of New York, on the 29th day of
August, 2003.

                                          THE MALAYSIA FUND, INC.



                                          By: /s/ Stefanie V. Chang
                                              ----------------------------------
                                              Stefanie V. Chang
                                              Vice President



                                  EXHIBIT INDEX


                                                                                   Sequentially
    Exhibit                                                                          Numbered
    Number                                 Exhibit                                     Page
 -------------      -----------------------------------------------------          ------------
                                                                             
  2(b)              Amended and Restated By-Laws
  2(g)(3)           Sub-Advisory Agreement between the Manager and Morgan
                    Stanley Investment Management Company