Temasek Under Siege
The KPPU found Temasek Holdings guilty of violating unhealthy business regulations through its cross-ownership in Indosat and Telkomsel. As a result, cellphone tariffs in Indonesia are the highest in Asia. But who is really behind the expensive tariffs?
November 26, 2007
ON Tuesday last week, a tense atmosphere pervaded the headquarters of Temasek Holdings at Plaza Atrium, Orchard Road, Singapore. One day after Temasek was declared guilty by the Business Competition Supervisory Commission (KPPU) over a cellular telephone business service in Indonesia, the investment company owned by the Singapore government held a press conference to clarify its position.
“We will fight this decision and defend our legal right
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