I believe they're the same owners as Restoran Malaysia http://www.restoranmalaysia.com/. Don't know if you've been there before but their food is amazing!!! Really good and authentic Malaysia food. I've never been to Villa Malaysia but I assume the taste and quality is the same. Let me know how the food is once you check it out!
I tried it when it first opened a few months back when its sister restaurant Restoran Malaysia was closed for holiday. The menu is quite different from the original, more fusion based and MUCH more formal of an atmosphere. The decor is beautiful but it's target market is along the same lines as Moxie's. The food was ok but with the fusion aspect I was missing the complexity that traditional malay food has (as seen in Restoran Malaysia). At the time, they also didn't have their roti stove/oven ready but the manager said they would be having it soon (I would hope that they have it by now). However, the manager said that again the flavours would be tempered to match more "Western tastebuds".
At the end of the day, if you want a nicer asian restaurant for a date or something along those lines, it's worth a try. BUT if you are a foodie or you intend on something more casual and family-feel then go to Restoran Malaysia, you can't go wrong there.
Demeter hit the nail right on the head that the taste has been westernised. It's not even close.
Unfortunately Restoran Malaysia has also gone downhill and most of their dishes are neither good nor authentic anymore and has been for quite some time now. The last time I went, there were only a few dishes that were close to authentic (like when they first started and his parents were in the kitchen).
I'm not saying it's bad. They're obviously doing very well and lots of people like it. But they've definitely straying away from the authentic side. I don't blame them though, it's difficult and expensive to get the authentic ingredients. Not to mention time consuming to cook some of the dishes.
re: Wandering Foodie
I just went yesterday, and I have to say I was quite disappointed.
While the overall taste was pretty good, it was a super expensive meal. The menu is tiny compared to the selections at Restoran Malaysia.
For example, the beef skewer was $3 each (minimum order of 4). For that price, I expect some meat. Instead, what we got was 4 little meat cubes, each cube was literally 1.5cm!!! I forget the price at Restoran Malaysia, but at least we got more meat.
Then Roti + Curry was $15. This is almost 50% more than the price at Restoran Malaysia and really wasn't any different.
As someone said, a good palce for a date if you want somewhere fancy looking and quiet, but not worth it for the money IMHO.