Saratoga, Companies Owned By Conglomerates Edwin Soeryadjaya And Sandiaga Uno These Raise IDR8.82 Trillion Profits In 2020

Edwin Soeryadjaya together with Sandiaga Uno. (Photo: By courtesy)

JAKARTA - PT Saratoga Investama Sedaya Tbk managed to record positive performance in 2020. The company's net profit grew 20 percent to IDR8.82 trillion.

This is supported by the increase in the investment portfolio value of the companies owned by conglomerates Edwin Soeryadjaya and Sandiaga Uno, which can also be seen from the net asset value at the end of 2020. Saratoga's assets shot up 39 percent to IDR 31.70 trillion.

Edwin Soeryadjaya is one of the top 50 richest people in Indonesia. His wealth reaches 580 million US dollars or around Rp.8.35 trillion.

President Director of Saratoga Michael Soeryadjaya, who is Edwin's son, stated that the solid performance of Saratoga's investment portfolio companies during the 2020 pandemic was the key to the company's achievement. This is reflected in the increase in the value of Saratoga's investment in a number of portfolio companies and consistent dividend payments.

"In the midst of a difficult situation due to the COVID-19 pandemic, Saratoga managed to maintain its growth momentum and achieve good performance. As an investment company with long experience in Indonesia, Saratoga prioritizes the principle of prudence by managing all risks and consistently implementing a diversification strategy," he said. Michael in his affidavit, Tuesday 9 March.

Throughout 2020, this SRTG stock-coded company will focus on developing corporate strategies to maintain operational resilience during the pandemic, both in parent companies and all investment companies. This operational resilience target proved to be well achievable.

In 2020 the investment value of Edwin Soeryadjaya's company (the 45th richest person in Indonesia) in PT Merdeka Copper Gold Tbk (MDKA) will increase by 120 percent to Rp.10.18 trillion and the investment value in PT Tower Bersama Infrastructure Tbk (TBIG) grows 56 percent to become IDR 12.64 trillion.

Saratoga also managed to book dividend income in 2020 of IDR 750 billion, contributed by PT Adaro Energy Tbk (ADRO) of IDR 215 billion, PT Tower Bersama Infrastruktur Tbk (TBIG) IDR214 billion, PT Mitra Pinasthika Mustika Tbk (MPMX) IDR210 billion and PT Provident Agro Tbk (PALM) amounting to IDR105 billion.

Michael added that Saratoga will continue to look for new investment opportunities and support the government's efforts to accelerate economic recovery due to the COVID-19 pandemic.

"We hope that the current vaccination program can immediately break the chain of the spread of COVID-19 and stop this pandemic. Saratoga will continue to actively implement its strategy, so that the company's growth will be more optimal when the pandemic has ended," he added.

Investment Director of Saratoga Devin Wirawan explained that during the pandemic a number of Saratoga portfolio companies found momentum in their business growth. He said that MDKA's performance continued to strengthen thanks to the very high increase in the price of gold and copper commodities in 2020.

In the midst of economic uncertainty due to the COVID-19 pandemic to date, gold as a "safe haven" will still be a major investment object in the world. This opportunity will further strengthen MDKA's fundamentals going forward.

In addition, Devin continued, the rapid migration of people to the digital ecosystem has provided greater opportunities for PT Tower Bersama Infrastructure Tbk. as a provider of telecommunications infrastructure.

Meanwhile, in the consumer sector, PT Deltomed, which produces herbal medicines, has succeeded in optimizing the high public demand for health products during this pandemic. PT Famon Awal Bros Sedaya, our hospital group, also continues to support the government's efforts in tackling COVID-19 by providing special rooms for COVID-19 patients as well as rapid test drive-thru services.

"As an active investment company, Saratoga continues to assist portfolio companies to grow and optimize every opportunity that exists. In a situation that is still very dynamic and challenging, Saratoga's cost ratio to net asset value, which is still low in the range of 1 percent, will help. maintain the company's performance to remain solid, "said Devin.