A final appeal by Singapore's Temasek Holding to topple a ruling by the country's anti-monopoly commission regarding its telecoms investments has been rejected by Indonesia's Supreme Court.

Temasek, through its units, held stakes in PT Telekomunikasi Selular (Telkomsel) and PT Indosat, the top two mobile operators in Southeast Asia's largest economy.

Nonetheless ST Telemedia, an entirely owned unit of Temasek, ended up selling its stake in Indosat, the number two player, to Qatar Telecom for $1.35 billion, following the anti-monopoly agency's ruling.

The anti-trust body, or KPPU, ruled in 2007 that Temasek and its affiliates were in breach of Indonesia's anti-monopoly laws and ordered the sale of one of their telecom units in Indonesia.

The Supreme Court refused to gave details, only saying that the court had rejected a judicial review filed by PT Telekomunikasi Selular and Temasek, against the KPPU.

"The Supreme Court through its verdict on May 5, 2010, as written on its official website, states that it has rejected a judicial review, filed by Temasek, over the Supreme Court decision," said A. Junaidi, a spokesman for the KPPU, in a press statement.

Singapore state investor Temasek said it had not received official notification from Indonesia's Supreme Court and it was therefore unsuitable to comment on the case.