Detective Senior Sergeant James McGrogan this afternoon said there were no suspicious circumstances surrounding Malcolm's death and they were not looking for anyone else in relation to it.
"Intoxication may have been a factor. However, this will not be confirmed until toxicology results are known, which will take a few weeks," he said.
The cause of death will not be released until then.
Mr McGrogan said police had spoken to two young people who had been with Malcolm in Hickling Reserve, near the hockey club, until he became separated from them about 11pm. One of the group had then tried unsuccessfully to find him.
Temperatures in Taupo on Saturday night dropped as low as 2C, with a strong southerly wind, and Mr McGrogan said police suspected the cold weather was "a significant contributor" to Malcolm's death.
He said the jeans and hooded sweatshirt Malcolm was wearing were "inappropriate" for the conditions.
Last night, Malcolm's rugby league coach said he was involved in kapa haka and was a "strong boy", a leader who was looked up to by many of the young league players.
Friends and family told the Herald they last saw the teen late on Saturday afternoon at the AC Baths swimming complex just down the road from the hockey turf.
An aunt, who did not want to be named, said she was not sure what Malcolm had been doing on Saturday night, but he would often go into Taupo to stay with grandparents during the weekend.
"He's a good kid, but who knows what these kids get up to."
She will now remember him as "a happy, handsome and awesome young boy", who grew up on Waitahanui's Pakira Marae and was proud of his Maori culture.
His relatives last night gathered at a family home in Waitahanui - about 10km south of Taupo - to talk about the sudden death and plan for a tangi, which will begin once his body is released.
Earlier in the day many of Malcolm's friends gathered at the pools following the discovery of his body.
It is understood those friends included the rugby league players who found him while they were waiting for a bus to take them to a game in Tokoroa.
The coach told the Herald Malcolm had played mainly rugby but moved into league this year and was a talented player.
A woman who was also at the scene said the coach stayed with Malcolm's body until his family arrived.
"He was unreal. He was talking to him in Maori. I don't know what he was saying but it was quite obvious that he [Malcolm] was gone but he just stayed with him as if it was his job to be there with him."
Malcolm was a Year 9 student at Taupo Nui-A-Tia College where principal Peter Moyle yesterday remembered him as "a very nice young man".
He said news of his death was "not very pleasant" and the school's thoughts were with the family.
Despite school holidays, a crisis management team had been set up at the school marae to support students.
One of his teachers said that while details were still not known, it was possible Malcolm had been drinking with friends and fallen asleep on the field.
