Summer69 Clutched January 18, 2011 Share January 18, 2011 Temasek Holdings to pay Indonesia fine By : Date : 18 January 2011 1247 hrs (SST) URL : http://www.channelnewsasia.com/stories/afp...1105381/1/.html SINGAPORE: Singapore's Temasek Holdings said Tuesday it will pay a fine of 15 billion Indonesian rupiah ($1.66 billion) imposed by Indonesia for breaching the country's anti-competition laws. The state investment company decided to pay the fine after Indonesia's Supreme Court rejected its application to review the ruling by a competition watchdog that it had breached rules in the telecoms market, Temasek said. "Temasek is disappointed that its application for civil review has been rejected as it has not contravened Indonesia's anti-monopoly laws," said Goh Yong Siang, senior managing director for strategic relations. "As an international investor, Temasek continues to comply with the laws and regulations of Indonesia in its activities in Indonesia, and will duly follow up to pay the KPPU fine without prejudice to its legal position, and reserves all its rights," he said in a statement. The competition watchdog KPPU ruled in November 2007 that Temasek was guilty of anti-competitive behaviour in Indonesia's cellular phone market by holding stakes in the two biggest domestic mobile phone operators. Last month, the KPPU said it was considering seeking a court injunction to seize Temasek assets equivalent in value to the fine. In addition to the fine, the KPPU ordered Temasek to divest its holdings in either PT Telekomunikasi Selular (Telkomsel) or PT Indosat. Singapore Technologies Telemedia, a wholly-owned unit of Temasek, sold off its interest in PT Indosat to business partner Qatar Telecom in June 2009. Temasek indirectly holds 35 percent of Telkomsel via its 56-percent owned unit Singapore Telecommunications Ltd. (SingTel). -AFP/ac ↡ Advertisement Link to post Share on other sites More sharing options...
Summer69 Clutched January 18, 2011 Author Share January 18, 2011 ok, i think after June 2011, our backside is going to be teared. Link to post Share on other sites More sharing options...
Kezg1 5th Gear January 18, 2011 Share January 18, 2011 ok, i think after June 2011, our backside is going to be teared. The meat is on the Indo chopping board...... Link to post Share on other sites More sharing options...
Vroomtattat 2nd Gear January 18, 2011 Share January 18, 2011 (edited) ok, i think after June 2011, our backside is going to be teared. Please be gentle! Hey unker! S$1.66mio thia where got 1.66bio? Alamak . . . 2.76 peanuts only . . chay! Edited January 18, 2011 by Vroomtattat Link to post Share on other sites More sharing options...
Cwong2910 2nd Gear January 18, 2011 Share January 18, 2011 15 billion Indonesian rupiah = $1.66 billion in what currency??????!?!?! Don't think is Sing Dollars leh Link to post Share on other sites More sharing options...
Vroomtattat 2nd Gear January 18, 2011 Share January 18, 2011 (edited) US$1.66mio S$2mio ++ about 3.5 peanuts Dunno how come copy until can change from million to billion? a bit misleading leh . . . I'm outta here. Edited January 18, 2011 by Vroomtattat Link to post Share on other sites More sharing options...
Ben5266 Supercharged January 18, 2011 Share January 18, 2011 15 billion Indonesian rupiah = $1.66 billion in what currency??????!?!?! Don't think is Sing Dollars leh Should be 15 Trillion Rupiah = US$1.66 billion. cheap cheap. Temasek could well afford.... Link to post Share on other sites More sharing options...
Ben5266 Supercharged January 18, 2011 Share January 18, 2011 US$1.66mio S$2mio ++ about 3.5 peanuts Dunno how come copy until can change from million to billion? a bit misleading leh . . . I'm outta here. If it is only US$1.66 million, Temasek will quietly sweep it under the carpet already. Link to post Share on other sites More sharing options...
Kyrios Turbocharged January 18, 2011 Share January 18, 2011 Taxpayers' money..used to fatten another state? How did the FTs manage temasek one huh? Link to post Share on other sites More sharing options...
Ben5266 Supercharged January 18, 2011 Share January 18, 2011 (edited) Should be 15 Trillion Rupiah = US$1.66 billion. cheap cheap. Temasek could well afford.... Sorry, not 15 Trillion. Should be 150 billion Rupiah. 15 Billion rupiah per company owned by Temasek. Today, only 1 company (Telkomsel) pay 15billion Rupiah and case closed? It is a good deal. http://www.businessweek.com/news/2010-12-2...or-seizure.html Edited January 18, 2011 by Ben5266 Link to post Share on other sites More sharing options...
Summer69 Clutched January 18, 2011 Author Share January 18, 2011 My Bad, ok, S$2.1 million niah, small small water. not even one year salary for some. Link to post Share on other sites More sharing options...
JaydenSTI 1st Gear January 18, 2011 Share January 18, 2011 (edited) US$1.66mio S$2mio ++ about 3.5 peanuts Dunno how come copy until can change from million to billion? a bit misleading leh . . . I'm outta here. hmmm... alwayz tot that 1 peanut = S$600,000.00 /- but not S$1M........... hmmmmm.... *edited* ops... u r right, din read carefully.... psps.... Edited January 18, 2011 by JaydenSTI Link to post Share on other sites More sharing options...
Scion Turbocharged January 18, 2011 Share January 18, 2011 ok.. so "only" 2m fine if 1.6b, we Singaporeans will protest liao 2m? keep the change! haha [laugh] Link to post Share on other sites More sharing options...
Bystander50 5th Gear January 18, 2011 Share January 18, 2011 Sorry, not 15 Trillion. Should be 150 billion Rupiah. 15 Billion rupiah per company owned by Temasek. Today, only 1 company (Telkomsel) pay 15billion Rupiah and case closed? It is a good deal. http://www.businessweek.com/news/2010-12-2...or-seizure.html the trick of using child companies to invest in other companies doesn't work overseas, unlike here. This may be the tip of it, who knows tomorrow they may dig up another TH related company and start all over again. Link to post Share on other sites More sharing options...
Karu 6th Gear January 18, 2011 Share January 18, 2011 Bloody hell!!!Our money down the drain.... Link to post Share on other sites More sharing options...
Summer69 Clutched January 18, 2011 Author Share January 18, 2011 the trick of using child companies to invest in other companies doesn't work overseas, unlike here. This may be the tip of it, who knows tomorrow they may dig up another TH related company and start all over again. usually can "settle" easily , don know why become so big. Link to post Share on other sites More sharing options...
Bystander50 5th Gear January 18, 2011 Share January 18, 2011 usually can "settle" easily , don know why become so big. could be the settlement amount not enough. In foreign ground, there's a disadvantage as your assets there are not removable overnight. Link to post Share on other sites More sharing options...
Superyandao 1st Gear January 18, 2011 Share January 18, 2011 s$2m is "nothing". if is s$1b i'll say pay and announce pull out entirely from the country. fresh meat? see who more jialat. ↡ Advertisement Link to post Share on other sites More sharing options...
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