No. You don't actually untap anything until you're in your untap phase.
By that time, you no longer control the Demented Malk.
> you order your untap phase to apply other effects before returning the
> Malkavian to its controller?
No. It isn't returned "in" your untap phase; you simply cease to have
control once you reach your untap phase.
--
LSJ (vte...@white-wolf.com) V:TES Net.Rep for White Wolf, Inc.
Links to V:TES news, rules, cards, utilities, and tournament calendar:
http://www.white-wolf.com/vtes/