Awwal 08, 1432, Feb 11, 2011, SPA -- Singapore state investor Temasek Holdings Pte Ltd said Friday that it had paid a 1.7-million-US-dollar fine in Indonesia after the country's competition watchdog found Temasek guilty of anti-competitive practices in the telecommunications sector, according to dpa. Indonesia's Supreme Court last year turned down Temasek's appeal after regulator KPPU in 2007 ruled the company was guilty of anti-competitive behaviour by holding stakes in Indonesia's two biggest mobile phone operators, PT Indosat and PT Telkomsel. In a statement, Temasek confirmed that it had paid the fine of 15 billion Indonesian rupiah imposed by the KPPU but denied any wrongdoing. "Temasek has informed the KPPU and the Central Jakarta District Court that the Indonesia State Treasury has acknowledged receipt of Temasek's payment of the KPPU fine," said senior manager for strategic relations Goh Yong Siang. "Temasek made the payment in compliance with the recent Indonesia Supreme Court ruling although Temasek has never been involved in the operational or pricing decisions of PT Telkomsel or PT Indosat and has not contravened Indonesia's anti-monopoly laws," he said. The KPPU also fined nine Temasek affiliates 15 billion rupiah each and ordered Temasek to sell its stakes in one of the telecommunications companies. In 2008, the Singapore government's investment arm sold its stakes in Indosat.
