Sift your malted milk powder and cocoa powder into a small bowl and set aside.
In a medium bowl, add your egg yolks and sugar and whisk together.
Add the cornstarch and mix in, then set aside.
Over medium to medium-low heat, heat your milk and cream together, stirring or whisking lightly to prevent a skin from creating on the top. Bring to a low simmer.
When the liquid has begun a low simmer, SLOWLY pour about ½ into your egg mixture, making sure to continually whisk while adding the milk and cream and then continuing to do so until they have become cohesive. This is tempering the eggs so they do not scramble when you add the rest on the stovetop.
Place the remaining half of cream and milk back on the stove top, and pour your egg and cream mixture into the pot. Whisk while you bring your pastry cream to a low boil (about 2 minutes) then remove from the heat and keep whisking.
Keep whisking your pastry cream until it becomes smooth. It might appear lumpy or a little grainy at first but just keep whisking until it becomes a smooth pudding like texture.
Add in your butter and whisk it in until it's fully incorporated into the pastry cream.
Add your malted milk and cocoa powder into the pastry cream and mix until smooth.
Using plastic cling wrap, lay it directly on top of the pastry cream to prevent a skin from forming and place the bowl in the refrigerator to chill overnight.