i agree with you, the private school fee in msia is outrages. if possible i would suggest your child to study at the local Chinese primary school, wait till he finishes grade2 / 3 then move him onto the private English school, by doing so he will be able to speak both English and Mandarin very well, and you can save up money too.
Forget about the local Malay schools, many have bad teaching reputation and terrible racial discrimination issues.