Among the victims are journalists from England, Japan and America.
The ship with 12 crew and 14 passengers, sank on Thursday close to the islands in Sabah and Kalimantan., said Mohamad Izuar Zainuddin of the Malaysian Maritime Enforcement Agency.
The victims were found floating in Life-Craft and 2 Life Boat during a Search and Rescue Operations conducted after receiving a distress call, said Mohamad Izuar.
All 7 British, 4 American, 2 Japanese and a Dutch were accounted for along with its crew of 1 German, 1 Irish and 10 Thais. All survived without any injuries.
The ship was leaving Sabah before the mishap however at press time, the authority still cannot confirm how long they were floating and the actual cause of the ship to have capsized, said Mohamad Izuar.
Last year, in a similar incident, two Singaporean tourist went missing after a fishing vessel there were in, capsized and sank at Southern Malaysia after it collided with an Oil Tanker.