The Rising Share Prices Of Adaro And Merdeka Copper Gold Make Saratoga Owned By Conglomerates Edwin Soeryadjaya And Sandiaga Uno Record An Asset Value Of IDR 60 Trillion

Conglomerate Edwin Soeryadjaya together with Sandiaga Uno. (Photo: Instagram @sandiuno)

JAKARTA - The investment company owned by conglomerates Edwin Soeryadjaya and Sandiaga Uno, PT Saratoga Investama Sedaya Tbk (SRTG) managed to record a Net Asset Value (NAV) of IDR 60.9 trillion in the first quarter of 2022. The company's NAV grew 89 percent compared to the first quarter of 2021 at IDR 32.2 trillion and higher than NAV Saratoga at the end of 2021 at IDR 56.3 trillion.

Saratoga also recorded a net profit attributable to shareholders of Rp3.6 trillion, reflecting a 208 percent increase year on year (yoy), most of which was an unrealized increase in portfolio value.

Saratoga President Director Michael William P Soeryadjaya explained that the market value of a number of the Company's investment portfolios continued to strengthen as has happened since the second semester of 2021. The increase in the share prices of PT Adaro Energy Indonesia Tbk (ADRO) and PT Merdeka Copper Gold Tbk (MDKA) was the main catalyst for the increase. The Company's NAV in the first quarter of 2022.

"In the first quarter of 2022 Saratoga received dividend income of Rp. 141 billion from PT Provident Agro Tbk (PALM) and Deltomed. The company's positive performance earlier this year shows that Saratoga's investment strategy in key sectors of Indonesia's economic growth is optimal," explained Michael through official statement, Tuesday 26 April.

He added, "Saratoga strives to maintain its expense-to-debt ratio at a healthy level, wherein we recorded annual operating expenses to NAV of 0.3 percent and net borrowing value of 4.7 percent of NAV.

Saratoga Investment Director Devin Wirawan added, in the current dynamic situation, the company will continue its investment plans in a number of strategic sectors. Among them are the digital technology, health care, renewable energy, and consumer industries which have continued to gain growth momentum since the pandemic occurred more than two years ago.

According to Devin, every year Saratoga allocates around US$100 million - US$150 million either for investment in new companies or in existing portfolios. This year, the digital technology, health services, renewable energy, and consumer sectors have become the Company's attention given that the growth potential is still very high in the long term.

"Of course, every investment will be made in a measurable, disciplined manner and in sectors that contribute to national economic growth. With a healthy balance sheet, we are optimistic that we can maximize every investment opportunity that is able to provide an optimal increase in corporate value in the long term," concluded Devin. .