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Malcolm was born in 1905, the son of Donald MacAskill and Annie Morrison of Ferry. He was a pupil at Berneray School from 1911.
He worked for Reverend Norman Morrison for a while before emigrating to Canada, leaving Stornoway on the Marloch on 25th April 1924. He later returned before leaving the UK again on 5th January 1928, this time sailing for Western Australia on the SS Otranto. There he joined his brother John Archie for a while before returning to Scotland. He married Mary Ann MacCuish of 14 Grenitote, with whom he was to have two children. They lived at 13 Grenitote.
Malcolm was at one stage the owner of the Ocean Pearl.