There are some write-ups and researches was done to shade some light over this issue. After searching high and low all over the internet, I found one that is very good for you to use as your guidelines in order to make the final decision for your life.
As for me I took STPM. I choose STPM last time not because my SPM was poor but because I want to minimise the cost, nearer to my family and because I can't afford to study in a college. So I decided to took up STPM. However we are all not the same. I was raised in a low-income family and that is one of the main reason why I took up STPM and those matriculation was in Peninsular Malaysia and off course will need a lot of money. Back then, PTPTN loan was not yet created and introduced. Compared to now, it was a lot harder last time and competition to get into matriculation is also very tough. Even if you take STPM, you will need 5 Principals (5P) to get a place in the university. You will see those days, STPM student are 'Ulat Buku' and they read a lot of books, researches and discussions to find an answer to certain question.
Anyway, if you are looking for some tips for this topic visit here >>> PENDIDIKAN MALAYSIA. I stumbled upon that news items yesterday and I think this is quite useful to you. Good luck!