Employment pass for Malaysia

I am on Employmentpass/work pass valid till March 2015 and work fro a consulting Co in Kuala Lumpur. I am planning to quit this employer and look fro another job in Malaysia only. My current employer is willing to give a No Objection letter for another employment. can I exit current job and try for another job and stay in Malaysia till I get another job and use the NoC issued by my current employer to get new EP? can I travel outside country and come back during the period I am looking for a new job?