Temasek Loose Again in Central Jakarta Court

Temasek Loose Again in Central Jakarta Court

The Business Competition Monitoring Commission (KPPU) won against Temasek Holding Pte Ltd and Co, Central Jakarta District Court refuse Temasek appeal against KPPU sentence.

Central Jakarta District Court Judge agree with KPPU sentence, even the judge gave an order to Temasek to sell its share in Indosat and Telkomsel, within one year period.

Andriani Nurdin presiding judge said Temasek had legally proved commit an infringement on Anti Monopoly Law especially on chapter 27.

Judge also order Temasek to sell its share in Indosat or Telkomsel with conditions such as should sell its share to the company that has no affiliation with, to execute it gradually and buyer could purchase maximum 10% of the share.

After sell all its share in Indosat or Telkomsel, Temasek should reduce its share ownership until 50% from the present figure. Its means if Temasek sell all its share in Indosat then for Telkomsel, Temasek only could control 24,5% of the share.

But on penalty, judge sentence lighter compare with KPPU. Judge order Temasek to pay IDR 15 billion fine, whereas previously KPPU sentence were IDR 25 billion.

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