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1.
A seriously bad thing to happen to you. If you get 'malkied' then you will have been thumped raucously about the body in a fashion not dissimilar to that of a poor unfortunate referee who has bad mouthed the captain of a particularly large rugby squad.
"Ah geid him the malky an he stood there flat out on the grun."

"Ho! Come back here till Ah malky ya, ya bass!"
von Dangerous Malky 3. Februar 2004
 
2.
Glaswegian word for a headbutt.
That was some malky he gave him, his nose exploded and then he hit the deck.
von Malcom the Malky 4. Juli 2013
 
3.
glaswegian slang term for razor blade
i.e malcolm frazor= razor
gieze yer malky pal
von glasvegasspete 13. September 2008
 
4.
A non-PC slang term used to describe someone of oriental appearance. Thought to have originated in West Edinburgh.
Check that Malky over there in his pimped Corrado, Braaaaap!
von Talcum 31. März 2008