In a small bowl, whisk together the flour, baking powder, salt, malted milk powder and sugar.
In a mixing bowl, using a handheld electric mixer (or a whisk) beat the eggs until very light. Drizzle in the milk, followed by the oil or melted butter and extract.
Add the flour mixture to the egg mixture ands stir with a heavy duty scraper until barely mixed. You want everything blended, but keep the batter light.
Lightly grease a nonstick skillet (use non-stick even with the grease) with clarified butter or oil and heat. If you have an electric griddle, set it to 375°F.
Drop batter by quarter cups and heat for about 2 minutes or until you see bubbles start to form. Turn and cook for another 1 ½ to 2 minutes. Transfer to a plate and continue until all the pancakes are done.
For waffles, make the same batter but add 2 more tablespoons of butter or oil and omit 2 tablespoons of the milk.
Notes
For waffles, make the same batter but add 2 more tablespoons of butter or oil and omit 2 tablespoons of the milk.