Despite losing several of his best players in the close season and delays in wage payments to those left behind, coach Manuel Pellegrini led the Qatar-owned club to three wins in their opening three games, including a memorable 1-0 success at home to seven-times winners AC Milan.
They went on to claim a 1-1 draw at Milan that sent them through to the last 16 with two games to spare, conceded late at Zenit St Petersburg in a 2-2 draw that sealed top spot last month and were denied a win late on at home to Anderlecht in another 2-2 draw in their final match on Tuesday despite fielding a weakened team.
"I am completely indifferent," Pellegrini told a news conference after Tuesday's game at the Rosaleda when asked about possible opponents.
"There are no easy teams, they are the 16 best sides in Europe," added the Chilean.
"The important thing is that we get to February playing at a good level and with the ambition of getting to the quarter-finals and with the conviction we can get through."
Tuesday's game was soured by an injury to Malaga's French midfielder Jeremy Toulalan, who pulled up with what looked like a hamstring strain after 15 minutes and had to be replaced by Ignacio Camacho.
It was unclear how long Toulalan would be out of action but the solidity he brings to central midfield will be sorely missed as Malaga try to reverse a dip in form in La Liga and advance in the King's Cup.
Importantly, given the state of their finances, Malaga's impressive performance in Europe's elite club competition should give a timely boost to their coffers.
