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