Eddie,
It is unfortunate that u didn't get the full picture before going through the hassle and spend a fortune.
All airlines in Malaysia pay about the same for FOs (RM 5-7000 inclusive perdiem) and they are never short of low time candidates who are hungry for jet time. In your case, the only advantage I foresee is a short route to Command as both Air Asia and Transmile are expanding their fleets and short of potential commanders. If u care to find out, some expat FOs were made commanders, something which rarely happens in MAS or when an asian joining an Airline out of this region.
Speak to Air Asia, I don't see why u can't get a job with them unless u have a colourful record which they can't stomach.But then again, I believe they need a gurrantor for the bond instead of cash upfront. Job in MAS is contractual and short term and u might not enjoy the perks given to the regular staff.
Have u try China? Various airlines are looking for rated 737NG
crew. Hainan and Shenzen Airlines are among them.
In short, Eddie, it is either bite the bullet and mark time for command in Malaysia or go some where else for better money as a type rated FO. Good luck!