JAKARTA(AP): Singapore's state-owned investmentcompany, Temasek Holdings, denied Thursday it was involved in monopolistic practices in Indonesia's telecommunications industry.
It also said it was "disappointed" Indonesia's competition watchdog, known as the KPPU, was intensifying an investigation into claims Temasek - a shareholder in Indonesia's two largest mobile phone operators - was violating anticompetitive laws.
Temasek has long been plagued by allegations of price-fixing.
"The claims and complaints against Temasek are totally without merit," the company's lawyer Todung Mulya Lubis said in a statement. "Temasek will vigorously defend its legal rights in KPPU or any other forums."
Temasek is a majority share-holder in SingaporeTelecommunications, which has a 35 percent stake in Indonesia's largest cellular operator, PT Telkomsel. It also owns nearly 40 percent of the country's second largest mobile phone company, PT Indonesia Satellite Corp.
It said it would cooperate with KPPU, but was disappointed that the watchdog had decided to continue its probe.(***)
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