The Zimbabwean forward's current deal with Amakhosi is set to expire at the end of the season, with Egyptian giants Al Ahly and Zamalek understood to be ready to snatch him from the Glamour Boys.
But the South African football giants have an option to extend the 30-year-old's contract by another year and are believed to be willing to exercise it.
"Khama still has a running contract with Kaizer Chiefs," his representative Godfrey Bakasa tells KickOff.com.
"So any interest right now is going to be made through Kaizer Chiefs, or are made through Kaizer Chiefs. So I can't really confirm that question [if it's true that Zamalek and Al Ahly are interested]."
According to Bakasa, neither side is in a rush to start negotiations as the player's fitness is currently a priority.
"I think both parties right now are really looking into getting Khama fit so that he plays the remaining games and if there are negotiations being made, it will be announced in due course," Bakasa explains.
Billiat has been sidelined nursing a leg fracture and is expected to be back at full fitness in March.