The move was made at the request of the company, which asked for more time to finalise binding agreements it has with financiers to restructure the terms of two existing bond issues.

Berlian Mahkota Coal – which Indus has a 38% stake in – has a joint venture agreement with a Tier 1 Chinese construction and engineering company to construct a coal-fired steam power plant in Jambi province.

The JV also hopes to become a significant independent power producer in Indonesia.

It is an established coal producing region where export-grade thermal coal is eagerly sought by Chinese and Indian power producers.

Low operating costs, ease of transportation via river barge and low capital expenditure mining operations make it an attractive target for investors.