2015 Malaysian budget:MyBrain15 programme, 60,000 PhDs and their quality?

MyBrain15 aims to produce 60,000 PhD holders by 2023. The total cost is estimated as RM498 million. So far, 34,525 students are taking Master and PhD (doctorate) degrees. The most important is the quality of the degree. For example, the American university, Caltech,  ranks nombor 1 among world universities. The standard of  It's PhDs is high. What is the standard of PhDs from Malaysia?