As a Malaysian and a parent, and as someone who detests censorship and who is wholely aware of the slippery slope nature of censorship, I actually agree with the ban.
This is because in Malaysia we already have seen enough examples of bad, vague laws have been used to shut up/down the ethnic minorities and dissenters, adding this ban will not change too much of the landscape.
Banning younger children to have a social media account is good. If we can ban kids from driving because their brains aren't fully developed yet, why not just ban social media account for the same reason?
It's actually sickening to see that everyone-- especially children-- glues to phone in public space: playground, restaurants and whatnot. Of course you can say that adults should follow the same ban but adults are more resistant to the opium of social media ( refer to the driving car example above). So I think the double standard is excusable.
The detriment effects of social media towards the young, girls especially, are well documented ( see the Jonathan Hahdt book "the anxious generation"). So I think the ban is valid.