Jupp Heynckes has contradicted his previous comments about Malcom by dismissing reports Bayern Munich are interested in signing the Bordeaux forward.
Malcom has been heavily linked with a move to one of Europe's top clubs in recent months, with Premier League trio Arsenal, Tottenham and Manchester United said to be leading the chase.
Bayern appeared to have joined the race for his signature last month, when Heynckes confirmed the 21-year-old was on the radar of their scouting team.
However, when asked about the Brazilian on Friday, Heynckes said there was no interest from the Bundesliga leaders.
"I have never seen him play," Heynckes told a media conference. "Therefore, I am not able give an opinion on him.
"But I don't think there is interest here. He always gets put into the shopping window but nobody really goes after him."
Malcom was seen as a long-term replacement for Arjen Robben, the 34-year-old Dutchman having been plagued by injuries in recent years.
Robben's fitness continues to be closely managed by Heynckes, and as such he will not feature in this weekend's trip to RB Leipzig, where Bayern could wrap up a sixth successive title.
He is not the only one absent for Sunday's clash, but James Rodriguez is ready to return.
"James will start on Sunday, however Robben won't yet be ready to play," said Heynckes.
"[Corentin] Tolisso had his first light running session today and will join up with his national team. Thiago [Alcantara] will return to training next week. Both will be unavailable on Sunday."
