I was thinking of putting my Malak in this squad:
Malak
Sith Assault Droid
R5 Astromech (to repair the Sith droid)
Sith Trooper Commander
4 Sith Troopers
Ugnaught Demo

@ 150 points
Would be interesting
Plus cheaper for me, since I only need to obtain 4 commons to complete this XD

I think the Sith Assault Droid is a good piece to use with Malak. With its low attack, the +6 from combined fire would be huge (one of the few times a CE can help a Droid, because it's helping indirectly). R5 to heal the Droid is also a good idea. Between Repair 10 every round and Shields 2, it could be really tough to take that thing down.

I also think that the designers expected people to use Malak with a Sith Trooper Commander and a bunch of Sith Troopers. Between boosted combined fire and Deadeye, the Sith Troopers get pretty reliable damage output.

I'm not sure these two ideas work well together. To get the most out of the Sith Assault Droid, you'll need to use your Sith Troopers to combine fire with it. But you can really get cheaper shooters to use for combining fire. Plus, if you're not attacking with the Sith Troopers, the Commander is kind of a waste. But if you go ahead and attack with the Sith Troopers, the Sith Assault Droid isn't going to hit much, probably.

I'd change to focus on one or the other:

Option 1:
Take out the Sith Troopers and the Commander and bring in 5 point Fringe shooters (Bespin Guards, Nikto Soldiers, Ewok Warriors, Dark Hellion Swoop Gang Members, Human Blasters-For-Hire, Jawas) to combine fire. Maybe you could fit in another R5 to repair the Sith Assault Droid then. Or even another Sith Assault Droid, if you have one.

Option 2:
Take out the Sith Assault Droid and the R5 and bring in more Sith Troopers. They're pretty fragile, with only 10 HP and low defense, but if you can pull off some Deadeye shots with +6 combined fire, they'll put out some damage before your opponent can take them all out. With this option, try to keep Malak out in front of them so that he takes all the non-Accurate shots, and only the Accurate shooter(s) can pick off your Sith Troopers.

The only time I've seen him played is in combine fire squads. Something along the lines of Malak, Sith Trooper Commander and as many Sith Troopers as you can fit in you point value.

I really like your idea, could you do it with squads too? There are many squads that looked good on paper but don't do so well in real life.