Saratoga, Owned By Conglomerates Sandiaga Uno And Edwin Soeryadjaya, Prepares IDR 2.14 Trillion For Capital Expenditure This Year

JAKARTA - The company owned by conglomerates Edwin Soeryadjaya and Sandiaga Uno, PT Saratoga Investama Sedaya Tbk has prepared US$100 million - US$150 million (around IDR 2.14 trillion) for capital expenditure (capex).

SRTG investment director Devin Wirawan said, with this amount of capex, the company will focus on investing in the technology and digital sectors, health, financial services, and new and renewable energy (EBT).

"We will focus on investment in sectors that have been around since the beginning and technology," he said in a public presentation at Saratoga Investama Sedaya, Thursday, April 21.

Devin said the company will focus on technology development so that it can keep up with the times and not be disrupted. This is also intended so that companies can transform their business from traditional to digital economy.

"Along with the growth of the Indonesian economy, especially during the pandemic, we have seen many transformations taking place in Indonesia. Many young people are setting up startups. If we don't anticipate this, we will be left behind," he explained.

He further explained that in the midst of Indonesia's efforts to achieve emission reduction targets and Net Zero Emission (carbon neutrality) which is targeted to be achieved in 2060 or earlier, SRTG will also focus its investment on renewable energy. As a country rich in resources, Devin admits that until now the electricity sector is still largely supported by coal.

"Looking ahead, we need to invest in sustainable industries and we see that solar panel energy is the fastest to adapt so that Indonesia can achieve its target of achieving NZE," he said.

Previously, through the AGMS Saratoga approved the distribution of cash dividends of IDR 814 billion. This figure is much higher than the dividend of IDR 298 billion in 2021.

Throughout 2021, the company was also able to record a Net Asset Value (NAV) of IDR 56.3 trillion. This value increased 78 percent compared to the previous year and mostly came from the increase in stock prices in almost all of the company's investment portfolios, especially PT Tower Bersama Infrastructure Tbk. (TBIG), PT Adaro Energy Indonesia Tbk. (ADRO), PT Merdeka Copper Gold Tbk. (MDKA) and PT Mitra Pinasthika Mustika Tbk. (MPMX).