Here's a bit of statistics on Monbusho Scholarship for Malaysian.
If you look carefully, for postgraduate scholarship which I applied, around 621 submitted the applications. almost all of them are shortlisted, but a few couldn't make it.
Out of the 518 who sat for the exam, 20% or 107 are shortlisted.
Of those 107 who are shortlisted, 30% or 34 are nominated, successful.
This means, since I am going for the interview for every person who i see on my left & on my right in the embassy on the interview day, one of us will get this scholarship. 544 applications for 34 places which work out to 6% of the people got it.
In contrast, compared to undergraduate, 712 applications for 5 places which work out to ONLY 0.7% of the people got it.
So if you are undergraduate, your chance of getting the scholarship is really really small.