Brian, malted milk powder contains barley malt, wheat, milk, and a touch of salt. Barley malt syrup contains sprouted barley and water. They are two different animals! I would not substitute one for the other but as an experiment, adding a small amount of barley malt syrup, say a teaspoon, may lend an interesting taste to the pancakes. Because it is so thick, it may not be easy to incorporate into the batter. 

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