The Australasian Performing Right Association announced the news this morning that the New Zealand representative on the APRA board had died peacefully in Auckland Hospital.
"It is a massive loss for the music community,'' APRA said.
The Netherworld Dancing Toys frontman, who propelled the Dunedin band to the heights of the New Zealand charts in 1985 with hit single For Today, had terminal bowel cancer.
For Today helped the band pick up five wins at the 1985 New Zealand Music Awards, with Malcom and Nick Sampson also winning the 1985 APRA Silver Scroll.
Malcolm's career as a professional musician ended 33 years ago, when he embarked on a successful career as an entertainment lawyer, record company executive, fitness club executive and manager of Crowded House and Neil Finn.
He leaves behind his wife Julia and four children.