Indosat's New Partner

The government has named Singapore Technologies Telemedia (STT) as Indosat's new strategic partner. What does the government stand to gain from this decision?

December 24, 2002

Minister for State-Owned Enterprises (SOEs), Laksamana Sukardi, can finally heave a sigh of relief. On December 14, the government sold its 41.9 percent stake in state-owned telecommunications firm PT Indosat, to Singapore Tech-nologies Telemedia (STT) for Rp5.6 trillion, making STT Indosat's primary strategic partner. STT has already formed a subsidiary company—Indonesian Communication Limited—to control its business interests in Indo...

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