Learn Hardcore Malay: Hadiah paling bermakna ialah sarung raket yang dibuat khas. - The most meaningful gift is a specially made racket cover.

Paling is the superlative marker meaning “most.” You put paling before an adjective or verbal adjective to express the highest degree.
Example: paling bermakna = “most meaningful,” paling besar = “biggest.”

How is bermakna formed and what does it mean?

Bermakna comes from the root noun makna (“meaning”) plus the prefix ber-, which often indicates “having” or “possessing” that quality. So bermakna literally means “having meaning,” i.e. “meaningful.”

What is the role of the word ialah in this sentence? Can it be replaced?

Ialah is a formal copula (“is/are”) used to link subject and predicate when defining or equating. In everyday speech you can replace ialah with adalah without changing the meaning:
Hadiah paling bermakna ialah sarung raket…
Hadiah paling bermakna adalah sarung raket…

Why is yang used before dibuat khas, and can it be omitted?

Yang introduces the relative clause “which was made specially.” In formal Malay it’s common to keep yang:
…sarung raket yang dibuat khas.
In casual contexts you can omit it:
…sarung raket dibuat khas.

What voice is used in dibuat khas and how is it formed?

It’s passive voice. You add the prefix di- to the verb buat (“make”), forming dibuat (“was made”). Khas means “special” or “custom.” Together dibuat khas = “was made especially/custom-made.”

How does sarung raket function as a compound noun in Malay?

In Malay noun-noun compounds, the first noun (sarung, “cover”) is the general category, and the second (raket, “racket”) specifies it. So sarung raket literally means “cover for a racket,” i.e. “racket cover.”

Why is the sentence ordered Hadiah paling bermakna ialah sarung raket…? Can you invert it?

The typical structure is Subject (Hadiah paling bermakna), Copula (ialah), Predicate (sarung raket…). To shift focus, you can invert subject and predicate around ialah:
Sarung raket yang dibuat khas ialah hadiah paling bermakna.

What’s the difference between khas and khusus, both meaning “special”?

Khas is more colloquial, meaning “special” or “custom-made.” Khusus is somewhat more formal, “specific” or “particularly designated.” In this sentence dibuat khas conveys “custom-made,” which fits better than dibuat khusus.

Could you express the superlative without using paling?

Yes, by using the suffix -nya on an adjective or adverb:
Hadiah bermakna sekali = “a very meaningful gift,” but it doesn’t quite capture “most meaningful.” For true superlatives in Malay, paling is the standard.

Can you simplify yang dibuat khas into an adjective phrase?

Yes. Instead of a relative clause you can say sarung raket khas, treating khas as an adjective directly modifying sarung raket:
Hadiah paling bermakna ialah sarung raket khas.