Cokal’s securities have previously been suspended from quotation until 11 January 2016, or until an earlier announcement is made regarding clarification by Cakra of its intention to make a further takeover offer to acquire all of the shares of the company.

“The company is however not in a position to make the anticipated announcement because, although Cakra’s current offer closed on 15 November 2015, there are continuing and active discussions between the company and Cakra of a confidential and incomplete nature in relation to Cakra's intention and capacity, including subject to Indonesian regulatory approval, to make a new takeover offer for the company,” Cokal said in a statement.

“Further, the company is engaged in active discussions of a confidential and incomplete nature in relation to potential competing transactions if Cakra does not have the intention or capacity to make a new takeover offer for the company.”

Cokal has asked the new suspension to continue to the commencement of trading on Friday 15 January 2016, or until an announcement is made.