Like many inhabitants of Ordon Village, Malo is not a Hylian due to his lack of pointy ears. Early in his life he grew up in Ordon with his brother and their friend Beth. One day the kids were kidnapped by King Bulblin and taken to the Eldin province. Their they were rescued by Renado, the priest of Kakariko Village. After that Malo decides to open his own shop, Malo Mart, in Kakariko from which Link can buy certain items like the Hylian Shield once he reach the village.
After helping the Gorons, some will come down to Kakariko and notably the elders who will gravitate around Malo. They have a plan to takeover Chudley's Fine Goods and Fancy Trinkets Emporium and "save" Hyrule Castle Town from its prices. To do so Malo and the elders ask for two donnations. The first one of 1,000 ruby to fix the destroyed bridge that led to the capital and the second of 2,000 to purchase the chic store and convert it into a second Malo Mart.
The second amount of Rupee can be lowered to 200 if Link help Gor Liggs' son by giving him Hot Spring Water. After converting into the second Malo Mart, the shop found at the capital will sell the Magic Armor for 598 Rupees.