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SINGAPORE: Singapore's Temasek Holdings has gone to Indonesia's Supreme Court to appeal against a ruling that it has violated the country's anti-competition law.
Indonesian lawyers representing Temasek said they filed their papers in Jakarta on May 21.
Eight other companies linked to the Singapore investment firm are expected to file their appeal separately on Thursday.
This is the last available legal recourse in Indonesia to have the decisions against them overturned.
The companies maintain that their investments in Indonesia comply with all the country's rules and regulations.
Earlier this month, a Jakarta district court had turned down their appeal.
Indonesia's anti-monopoly commission had ruled that Temasek Holdings and eight of its linked companies violated Indonesia's anti-competition law by having cross-ownership in two of the country's largest mobile phone operators - Telkomsel and Indosat.
Temasek owns 56 per cent of Singtel, which has a 35 per cent stake in Telkomsel. Singapore Technologies Telemedia, which Temasek fully owns, controls 75 per cent of Asia Mobile Holdings, AMH. AMH in turn owns 40 per cent of Indosat.
The Singapore companies must release or reduce their shares in the two companies within 12 months. Each of them has also been slapped with a US$1.5 million fine. - CNA/vm
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