Singapore
Temasek Holdings is deeply disappointed by the verdict announced today by the Central Jakarta District Court.
Goh Yong Siang, Temasek's managing director, strategic relations, stated, "The facts are Temasek has no shares in Indosat and Telkomsel, and plays no role in their business decisions and operations. Telkomsel, in particular, is majority owned by PT Telkom, which in turn is majority owned and controlled by the Indonesian Government. Both Telkomsel and Indosat are regulated businesses, operating within the guidelines of the Indonesian Telecommunications Regulatory Authority or Badan Regulasi Telekomunikasi Indonesia (BRTI). It is therefore not possible for Temasek to engage in any monopolistic or anti-competitive practices in the Indonesia mobile telecommunications market."
Temasek will appeal the District Court's decision under the laws of Indonesia and continue to seek legal redress.
About Temasek Holdings
Incorporated in 1974, Temasek Holdings is an Asia investment firm headquartered in Singapore. Temasek has a multinational staff of 300 people. Supported by affiliates and offices around Asia, it manages a diversified S$164 billion (US$108 billion) portfolio, focused primarily in Asia. Temasek is a shareholder and investor in diverse sectors such as banking & financial services, real estate, transportation & logistics, infrastructure, telecommunications & media, bioscience & healthcare, education, consumer & lifestyle, engineering & technology, as well as energy & resources. Our recent investment strategies centre on four themes:
• Transforming Economies
• Thriving Middle Class
• Deepening Comparative Advantages
• Emerging Champions
Temasek’s total shareholder return since inception in 1974 has been more than 18% compounded annually. It has a corporate credit rating of AAA/Aaa by rating agencies Standard & Poor's and Moody's respectively. Further information on Temasek please visit www.temasekholdings.com.sg.
For media queries, please contact:
Contact for Indonesia media:
Djohansyah Saleh
Weber Shandwick Worldwide
Tel: +62 21 5290 6550 ext 7900
Fax: +62 21 5290 6494
E-mail: dsaleh@webershandwick.com
Contact for International media:
Daliea Mohamad
Corporate Affairs
Temasek Holdings (Private) Limited
Tel:+65 6828 6641
E-mail: daliea@temasek.com.sg
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