Just 18 years old, the striker is out of contract at Millwall this summer, but the Championship side have offered him terms on a professional deal to keep hold of him.
However, Abdulmalik has yet to sign and is claimed to be attracting interest from a host of clubs, including Scottish champions Rangers.
Swansea want the striker and have firmed up their interest with a bid, which is claimed to have fallen “massively short” and Millwall have wasted little time in rejecting it.
If Abdulmalik moves on within England without a fee being agreed then a tribunal will be called upon to decide over the compensation due to Millwall.
The club view him as a hot prospect for the future and want to progress him into the first team.
Abdulmalik helped Millwall reach the FA Youth Cup quarter-final in the 2019/20 campaign and spent last term with the Lions’ Under-23s.
It remains to be seen where he will see his future as being best served.