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Preheat oven to 300F.
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Wrap the bottom a 9 x 3 inch springform pan with aluminum foil.
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Combine butter, sugar, and graham cracker crumbs in a bowl. Press mixture firmly into bottom of springform pan.
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Beat cream cheese in a large mixing bowl until fluffy. Add condensed milk and beat until well blended. Add malt powder, eggs, and vanilla and beat thoroughly. Pour filling into crust. Put springform into a larger pan and fill the larger pan with water – about halfway up the springform.
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Bake for 65 minutes or until cake springs back when lightly touched. Cool to room temperature and then chill in refrigerator. Decorate with fresh whipped cream and malted milk balls.