Friday, 23 May 2008

ST Telemedia Appeals with Indonesian Supreme Court

Singapore Technologies Telemedia (ST Telemedia) announced that it has filed its appeal to Indonesia's Supreme Court in connection with the Central Jakarta District Court ruling of 9 May 2008 relating to the KPPU's findings that ST Telemedia, together with Temasek Holdings and SingTel, have breached Indonesia's Anti-Monopoly Law.

ST Telemedia, which acquired its Indosat shares from the Indonesian Government

following the Government's invitation to participate in a privatisation in 2002,

has never held a majority of shares in Indosat. It has never assumed a dominant

position to charge Indonesian consumers excessive prices, as tariffs are

regulated by the Indonesian authorities and determined by the operators.

Currently, ST Telemedia categorically denies any wrongdoing and will vigorously defend their position through all available legal channels.