Temasek Intervention Ruling to be Announced Next Week
Thursday, 14 February, 2008 | 16:48 WIB

TEMPO Interactive, Jakarta: The panel of judges for the appeal of Temasek and nine other companies will announce the intervention ruling next Monday (18/2).
The chairman of the panel of judges, Andriani Nurdin, conveyed this before closing the trial at the Central Jakarta District Court yesterday (13/2).

"The trial will be resumed Friday (tomorrow) for hearing the intervention applicants’ responses and for the intervention ruling next Monday," said Andriani.

The appeal occurred after the Business Competition Monitoring Commission (KPPU) found the Singapore's state-owned enterprise (SOE) Temasek and its two subsidiaries guilty of cross-ownership in two similar companies, PT Telekomunikasi Selular (Telkomsel) and PT Indosat Tbk.

This practice is against the Antimonopoly and Unhealthy Competition State Decree No. 5/1999.

As a penalty, Temasek must release its share ownership in either Indosat or Telkomsel to non-affiliated companies within two years after a conclusive verdict.

KPPU restricted Temasek's share ownership in one of the companies to only five percent.

During the trial, the applicants--the ten companies--stated their objection to KPPU's ruling and viewed that KPPU's ruling was baseless.

"This is a forced ruling," said the applicant's legal adviser, Todung Mulya Lubis.

The applicants also denied the cross-ownership and the violation of Article 27 point A of the Antimonopoly and Unhealthy Competition State Decree.

According to M. Reza, KPPU's Head of Litigation and Ruling Sub Directorate, the objection was also conveyed during an examination in KPPU.

"There's nothing new or special," he told Tempo.

Dian Yuliastuti