When the exam passing rates and number of students getting Straight A's are so high in Malaysia

Should Malaysians feel proud of high passing rates and high number of students getting straight A's in STPM, SPM exams?

Below are some points highlighted in The Edge dated 1 October 2012.

In spite of being among the highest spenders on education in East Asia, Malaysia's performance in international assessments of student performance between 1999 and 2007 slipped below the global average in both science and maths.

In the Trends in International Mathematics and Science Study, 18% and 20% of Malaysian students failed  to meet the minimum proficiency levels in math and science respectively in 2007, a two to fourfold increase from 7% and 5% in 2003. In the Programme for International Student Assessment for 2009, Malaysia was in the bottom third of 74 participating countries, below the international average.

The scores showed that 15-year-old Malaysian students were performing as if they had three years of less schooling than students in Singapore, South Korea, Hong Kong and Shanghai..