The wikipedia article says it's pronounced "mʌləˈjɑːləm" (3rd syllable stressed), yet don't people in Kerala say "mʌˈlɑːjələm" (2nd syllable stressed, last 2 syllables almost spoken as one). It's been 30 yrs since I visited, so maybe I remember wrongly. If so, then maybe writing "Malayam" instead of "Malayalam" isn't too far wrong.