Komisi Pengawas Persaingan Usaha (KPPU), Indonesia' s anti-monopoly agency is evaluating Temasek Holdings Pte's assets in the country and said the government has the right to seize them if a court-imposed fine isn't paid.
The Singapore state-owned investment company lost its final appeal in the Supreme Court on May 24 for violating antitrust laws.
A fine of IDR150 billion which includes IDR15 billion for each of 10 Temasek-linked companies involved in the case, was set, the KPPU said.
KPPU was said Temasek breached antitrust laws by using indirect stakes in PT Telekomunikasi Selular, known as Telkomsel, and PT Indosat, the country's top two mobile-phone service providers, to fix prices.
Temasek's Singapore Technologies Telemedia Pte unit sold its stake in Indosat, Indonesia's second largest mobile-phone services provider, to Qatar Telecom QSC in June 2008 after an
earlier district court ruling. A unit of Singapore Telecommunications Ltd., Southeast Asia's biggest phone operator and majority owned by Temasek, has a 35 percent stake in Telkomsel.
earlier district court ruling. A unit of Singapore Telecommunications Ltd., Southeast Asia's biggest phone operator and majority owned by Temasek, has a 35 percent stake in Telkomsel.
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