Temasek to challenge Jakarta court`s verdict

"Singapore`s state-owned investment firm Temasek Holdings Pte. Ltd is planning to file an appeal with Indonesia`s Supreme Court after its objections against the country`s anti-trust body ruling that it had violated Indonesia`s anti-monopoly law were rejected by the Central...

Temasek raises stake in Bank Internasional Indonesia

"Bank Indonesia is the Indonesian central bank. Temasek was recently in the headlines over its indirect shareholdings in two of Indonesia's largest cellular phone companies, PT Telkomsel and PT Indosat. The Indonesian anti-monopoly watchdog KPPU ruled Temasek breached...

Telkomsel to obey KPPU`s ruling

""In line with our policy of obeying regulations in operating the company, PT Telkomsel will respect whatever decision is made in a legal process in Indonesia, including the decision of KPPU," PT Telkomsel Prsident Director Kiskenda Suriahardja said here on Tuesday.He said...

PKB faction in House supports KPPU`s ruling on Temasek

"The KPPU had found Temasek guilty of violating Law No 5 of 1999 on monopolies by its cross-ownership of two strategic Indonesian telecommunication companies, Indosat and Telkomsel."Now we should go on and take the next step: all those who sold Indosat and also Telkomsel must...

Temasek says `not guilty` of breaking Indonesian competition law

"Temasek executive director Simon Israel said Temasek was "not guilty" and the company would fight the ruling by the Indonesian business regulator which is also known as KPPU.Temasek owns 56 percent of Singapore Telecommunications (SingTel) which in turn owns 35 percent of...

Indonesian telecoms stocks fall on anti-monopoly ruling

"Shares of the largest telecommunication firm, PT Telekomunikasi Indonesia Tbk (Telkom) opened down 3.35 percent at 10,100 rupiah at the start of trading. Telkom owns 65 percent of Indonesia's biggest mobile phone operator Telkomsel. PT Indosat Tbk, Indonesia's second-largest...

KPPU declares Temasek guilty of cross-share ownership

"In its decision read out at the KPPU office here on Monday, the commission also ordered Temasek to pay a fine of Rp25 billion and dispose of shares in Indosat or Telkomsel no later than two years after the verdict has come into permanent legal force. Temasek was also ordered...

Govt to appreciate KPPU`s decision on Temasek

"Temasek Group, through its subsidiaries Singapore Telecommunications Ltd (SingTel) and Singapore Technologies Telemedia Pte. Ltd. (STT), is controlling shares in Telkomsel and Indosat. In its investigation document, the KPPU had concluded that Temasek may have violated the...

Singapore`s ST Telemedia to face Indonesian commission on allegations vs Temasek

""We have presented facts and figures but unfortunately they were not mentioned in the final reports (from KPPU)," Kwan said, referring to the KPPU's findings sent to ST Telemedia three weeks ago. The upcoming hearing is going to be the final hearing for the KPPU to hear out...