Malaysia started off brightly as they moved the ball well, with Tengku Ahmad Tajuddin looking very dangerous whenever in possession.
They had Ireland in deep defence in the opening minutes, attacking on the right with Razie Rahim finding Faisal with some long balls.
Ireland were awarded a penalty corner in the 7th minute but it was well saved by keeper S. Kumar who looked very confident in between the post.
Timothy Cockram broke through the centre in the 11th minute but sent his shot wide with only Kumar to beat.
It was all Ireland as they mounted attack after attack and were awarded their second penalty corner in the 14th minute.
This time the attempt by John Jeremyn was heading for the top right hand corner but once again Kumar came to the rescue with a magnificent save.
Ireland threatened once again in the 23rd minutes Eugene Magee broke through on the right but sent his shot wide of the post, much to the the relief of Malaysian fans behind the goal.
Ireland were awarded their third penalty corner in the 36th minute but this time their set piece failed to find the mark.
Against the run of play Malaysia took the lead in the 40th minute when Nabil Fiqri pounced on the ball in a goalmouth melee to send it into goal to give Malaysia the lead.
Things changed in the 60th minute as Fitri Saari was yellow carded and with the numerical advantage Ireland won their 6th penalty corner and John Jerymn sent in a net high flick to equalise.
And afterthat Malaysia were left chasing, and their Olympic dreams were over.