Singapore and Jakarta, 19 Nov 2007 – Singapore Technologies Telemedia (“ST Telemedia”) today states that it is extremely disappointed by the decision rendered by the KPPU regarding ST Telemedia’s investment in Indosat. ST Telemedia and its subsidiaries categorically deny any wrongdoing as alleged by the KPPU and disagree with the KPPU’s findings and conclusions.
Mr Lee Theng Kiat, President & CEO of ST Telemedia, said: “The KPPU decision calls into serious questions the application of the rule of law and whether foreign investors can safely invest in Indonesia. ST Telemedia and its subsidiaries will challenge the findings of the KPPU and will vigorously defend our position.”
ST Telemedia will review the decision in detail and will take all appropriate action through available legal channels to protect its interests in Indosat.
