When signing the TPP agreement, Malaysia managed to get a few interesting concessions like maintaining the Bumuputera agenda and getting a grace period to reform state enterprises. Shankaran Nambiar of the Malaysian Institute of Economic Research thinks these concessions mean the Malaysian government essentially gets to ‘have its cake and eat it too’. He concludes in this article by admitting that anybody who thought that the TPP would trigger a domestic reform process in Malaysia will be disappointed. The TPP may not turn out to be such a game changer after all. But, without the TPP, trade and investment might be diverted to Vietnam and Singapore. At least, Malaysia can now rest in the comfort that that will not happen.