While Malouda knows that Palmer and the whole team have a long way to go, he believes that the Englishman can become a top class player.
Speaking in an interview with Gambling Zone, Malouda said: "I've been very impressed with Cole Palmer this season. He is definitely one of the best signings that Chelsea have made in a long time. He is a very talented, skilful player, but what also impresses me about him is his football IQ and his maturity.
"He is a very mature player. You can even see that in his celebration: he is cold. In the situations he finds himself in, you have to remain ice cold to take advantage and to make the right decision. You're making complex decisions in fractions of seconds, so you need to have that ability to assess and analyse everything that is happening around you. He does that. He has a contagious ability; he makes other players better.
"I've seen his connection with other players and also how he reacts when things don't go his way he never loses his focus. He always makes the right decision, which is very impressive for a young player in his first full season.
Malouda continued: "I think that what Palmer has shown this season is the same ability that Mbappe showed when he first burst onto the scene at Monaco. Cole is a little bit older than Kylian was when he broke through, but in terms of his decision making, his calmness and his ability, he reminds me of Mbappe. That tells you everything about his potential and how far he could go."