The 18-year-old has a contract with Millwall coming to an end at the start of July, but the Championship club are keen to retain his services and have offered him a new deal.
Millwall have already rejected a bid from league rivals Swansea City for Abdulmalik and is hopeful that he will put pen to paper on a new deal at the Den.
Apart from Swansea, Arsenal and Rangers have also been credited with an interest in Abdulmalik, but Millwall boss Rowett has advised the player to snub other clubs and stay with the Lions.
Rowett is confident that Abdulmalik has the ability to make an impact at senior level, but insisted that he still has some work to do before he can take that next step.
The 47-year-old pointed out how Millwall supremo John Berylson is keen to see the academy’s impact on the first team, but admitted that the Lions cannot stand in the player’s way if he decides to move on.
“I would love to see Abdul stay at the club“, Rowett told the South London Press.
“He’s got a little bit of work to do, to take that next step.
“But in the FA Youth Cup run he got some fabulous goals and there was some great footwork around the box.
“We’ve watched a lot of him and monitored his progress.
“He has the ability to produce at first-team level, when that is will be down to the player and how quickly he develops.
“We want to have that pathway open.
“If a player decides they don’t want to stay and it comes down to compensation then you can’t do anything about it.
“John [Berylson], the owner, certainly wants to see the work our academy is doing come to fruition in our first-team, not someone else’s first team.”
It remains to be seen if Arsenal and Rangers will follow Swansea in making an offer for Abdulmalik, who is yet to sign a new deal with Millwall.