STT denies fraud allegations

STT denies fraud allegations

SINGAPORE: Singapore Technologies Telemedia Pte. Ltd. Thursday
denied allegations it paid commissions to facilitate its purchase
of Indonesian Satellite Corp., or Indosat, from the Indonesian
government last month.

The Singapore government-linked company in December bought 42%
of Indosat, Indonesia's second largest telecommunications
company, for US$634 million.

"ST Telemedia would like to categorically refute allegations
that commissions were offered or made to anyone by ST Telemedia
in relation to the Indosat investment," ST Telemedia said in a
statement.

The denial comes after Singapore's Business Times newspaper on
Wednesday reported comments by a former Indonesian president who
indicated Singapore parties paid commissions to Indonesian
leaders before the deal was concluded. Dow Jones