Jakarta, CNBC Indonesia – The investment issuer affiliated with entrepreneurs Sandiaga Uno and Edwin Soeryadjaya, PT Saratoga Investama Sedaya Tbk (SRTG) posted a net profit of Rp.8.82 trillion throughout 2020. This gain increased 20% from the same period in the previous year.
In 2020, the issuer coded as SRTG recorded a net profit on investment in stocks and other equity securities of IDR 8.41 trillion from the end of December 2019 of IDR 6.22 trillion.
This value in detail consists of investment in infrastructure shares of Rp. 3.06 trillion, natural resources of Rp. 5.57 trillion, and consumer products which still lost Rp. 276.75 billion. Meanwhile, investment in other equity securities was Rp 45.80 billion.
Dividend income was recorded at IDR 750.55 billion, lower than the previous year’s IDR 1.99 trillion. Meanwhile, interest income was IDR 17.42 billion.
Meanwhile, the value of the investment portfolio, which can also be seen from the net asset value of Saratoga at the end of 2020, shot up 39% to Rp 31.70 trillion. Meanwhile, operating expenses increased slightly from the previous Rp 157.01 billion to Rp 182.22 billion on 31 December 2020.
President Director of Saratoga Michael Soeryadjaya 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 dividend payments.
“We are grateful that in the midst of the difficult situation caused by 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. “said Michael Soeryadjaya, in a press release, Tuesday (9/3/2021).
Throughout 2020, according to Michael, Saratoga will focus on developing corporate strategies to maintain operational resilience during the pandemic, both for the parent company and all investment companies. This operational resilience target proved to be well achievable.
In 2020, Saratoga’s investment value in PT Merdeka Copper Gold Tbk. (MDKA) experienced an increase of 120 percent to IDR 10.18 trillion and the investment value in PT Tower Bersama Infrastructure Tbk. (TBIG) rose 56 percent to IDR 12.64 trillion.
Saratoga posted 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) IDR 214 billion, PT Mitra Pinasthika Mustika Tbk. (MPMX) of Rp. 210 billion and PT Provident Agro Tbk (PALM) of Rp. 105 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.
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