What is jointly acquired matrimonial property (harta sepencarian), and how does the court divide it?

Act 303 s.122 empowers the court, when permitting the pronouncement of talaq or making a decree of divorce, to order the division between the parties of any assets acquired during the marriage by their joint efforts, or the sale of those assets and the division of the proceeds.
In exercising that power, the court has regard to the extent of each party's contributions in the form of money, property or labour; any debts incurred for their joint benefit; and the needs of the minor children of the marriage — and, subject to those considerations, the court shall incline towards equality of division. For assets acquired by the efforts of one party alone, s.122(3) and (4) give a similar power, but the considerations are the contribution of the party who did not acquire the assets to the welfare of the family by looking after the home or caring for the family, and the needs of the minor children — and the division is in such proportion as the court thinks reasonable. The copy of Act 303 we consulted is in English; the Malay rendering on the BM page is our own translation, not an official text. Each state has its own Islamic family law enactment, so the section numbers and provisions may differ from Act 303 (Federal Territories).