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It's Japanese Invasion Money (JIM). This was printed by Japan for use in The Philippines, Malaya (not Malaysia), and Burma during World War II (and presumably beyond) as part of the so called Co-Prosperity Sphere. Enormous quantities of these notes were printed and most of them are worth very little. However, they have an interesting history. Some have various overprints on them.
There are many questions on the Japanese notes with cent and dollar denominations. These have been touted as "invasion" money made for the conquering of the U.S., but they were actually made for Malaya and Burma.
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