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...and the part about regional pricing matching the average buying power/income level of the country can't explain this one. Because we're a third world country. Most games that have regional pricing enabled actually give us around 32% - 50% less base price (by comparison, PUBG is only Php759, which is around $15 USD. GTA V is Php1,999, which is around $40 USD.)
Konami does the same too with PES (RM210=$54) and MGSVPP (RM230=$59). Also Nier (RM249=$64). Crazy! I can get these for PS4, used physicals for way less than on Steam.
Funnily enough, other publishers (not Asian) has better prices for us Asians. Weird.
I am from Malaysia as well. The price is getting ridicules with each releases. SE over charged our country with 12.69%
https://steamdb.info/app/637650/
I will be getting this from cheaper source or wait for sales. Sad to see now a day many developers go down the wrong greedy path.