According to the report, both countries will attempt to save coral reefs by cooperating to reduce crown-of-thorns starfish outbreaks, protect endangered species and deal with ecotourism appropriately.
Coral reefs in Southeast Asian countries, including Malaysia, are the most severely threatened in the world.
Marine conservation organisation Reef Resilience has mentioned that almost 95% of coral reefs in Southeast Asia are under threat.
An article from science website Phys.org has stated that the main causes of damages inflicted upon coral reefs included local threats, rising sea surface temperatures and coral bleaching.
The deal was signed during the ongoing United Nations Climate Change Conference, which has been taking place in Bonn, Germany.
According to Patricia Espinosa, executive secretary of the United Nations Framework Convention on Climate Change, the purpose of the conference is to encourage governments to implement the Paris Climate Change Agreement.
In so doing, it hopes to create sustainable and resilient development.