This is interesting.
JAKARTA, Dec 21 - Indonesia's anti-trust agency is seeking ways to seize assets worth 120 billion rupiah from Singapore's Temasek Holdings over an outstanding fine of the same amount, a KPPU commissioner said on Tuesday.
The KPPU ruled in 2007 that Temasek and eight affiliates were in breach of Indonesia's anti-monopoly laws because of holdings in two Indonesian telecom firms, and ordered Singapore's state investor to sell the stake in one while fining the affiliates 15 billion rupiah each.
Indonesia's supreme court rejected a final appeal from Temasek to overturn the ruling in May this year. [ID:nJAK180737]
"We're working with the central Jakarta district court to gather data for the plan," said Erwin Syahril, a KPPU commissioner, in a phone interview with Reuters.
"If they don't want to pay, then we have to seize assets worth as much as the fine," he said adding the agency had not set a deadline for the recovery.
Temasek, through its units, sold a stake in PT Indosat Tbk in 2008 but retains a significant shareholding in PT Telkomsel, a unit of PT Telekomunikasi Indonesia .
The company said it was not officially aware of the move.