Malaysia were on course to record their first win but settled for a draw when Kiran Arunasalam robbed the defender of the ball before finding the top corner with just four minutes left on the clock.
"Today was better that yesterday but must look to improve more in the future. I think the equaliser came from a high flick where the attacker was less than five yards, but we should have snatched the points nevertheless.
"Pakistan will be another tough match. I didn't see them play but if they can comeback against England to draw, I believe they have a good side.
"Pakistan are technically good and have a good fighting spirit," said Wallace Tan.
Australia attacked more and had three penalty corners in the first half but could not find a way past Zaimi Mat Deris, who was given a start in place of Ridzwan Azmi. Zaimi picked up the man of the match award for his efforts.
The hosts started the second half aggresive and broke the deadlock through Aiman Nik Rozemi flicked the ball past Ashleigh Thomas in the 39th minute.
Australia, however, pulled level from their fourth penalty corner of the night as Tom Craig scored in the 58th minute, only for Malaysia to take the lead again through Zulhamizam Awang Abas before Kiran's 66th minute equaliser.
Australian coach Ben Bishop was disappointed to go down twice during the match after failing to capitalise in the first half.
"We must improve the finishing. It's always good to play our neighbours New Zealand in the next game but we have to very cautious. Surely, they are out to bounce back after two defeats," he said.