That translates into a discount of RM300 ($70) from its launch price of RM1,999. At this price, the handset is cheaper than the iPhone SE 32GB, which currently carries a price tag of RM1,949 (around $445).
what an offer
To compare apples and apples (pun intended) the GST and duties has to be deducted from price. GST is small - 6%, I didn't found how much duties on imported iPhone are, but they could be substantial.