Kimi and the Kers curse
The 2007 world champion said he was struggling to breathe as smoke poured from the side and rear of his car at the Sepang International Circuit.
Ferrari said it was neither the result of the in-built fire extinguisher exploding at will nor a cockpit fire.
The team revealed the smoke was caused by a problem with their battery-operated Kers system, which had short-circuited in the hot and humid conditions enveloping the track.
Kers, a system which uses energy recovered from braking to provide extra power, is optional in 2009 and has been fitted by four teams - Ferrari, McLaren, BMW Sauber and Renault.
In Ferrari's final winter test in Barcelona, Raikkonen had to abandon his car with a similar problem to the one he experienced in Malaysia.
Ferrari said there were no problems with the Kers device in the second session and, despite the glitch, claimed they still plan to run Kers in both Raikkonen and Massa's cars for the rest of the weekend.
Raikkonen insists the energy recovery system is not dangerous because the device is protected by both a safe box and covering in his Ferrari F60.
One thing is for sure, Ferrari's pit mechanics will make sure they have their rubber gloves and wellies at the ready for the rest of the weekend.