Media Update Regarding Saratoga AGMS 2017 Results
Jakarta, 25 April 2016 – The year 2016 was a significant year for PT Saratoga Investama
Sedaya Tbk (ticker code : SRTG). As an active investment company, Saratoga successfully
identified investment opportunities, growing and increasing the values of its investee
companies to their full potential, and optimally monetizing its assets.
“It has been an exciting journey for Saratoga over the years and in 2016 we managed to
complete several full cycles of investment through divestments and monetization of parts of
our portfolio,” explained Saratoga President Director Michael W.P. Soeryadjaya after
Saratoga’s Annual General Meeting of Shareholders in Jakarta, Wednesday (25/4).
In 2016, Saratoga monetized several assets, such as PT Pulau Seroja Jaya for IDR 98
billion, as well as the plantation assets of PT Provident Agro Tbk, which focuses on natural
resources. Saratoga also relinquished its ownership in PT Sinar Mentari Prima (SMP), part
of the company’s infrastructure portfolio.
Having carefully selected and thoroughly considered over 100 investment opportunities, in
2016 Saratoga made two new investments in PT Mulia Bosco Logistik and PT Famon Awal
Bros Sedaya, adding to its consumer portfolio. This year Saratoga deployed a total of IDR
420 billion in capital into new opportunities.
Michael said that a majority of Saratoga’s portfolio companies performed very well in 2016.
In the natural resources sector, the fundamental strengthening of PT Adaro Energy Tbk.
(ticker code: ADRO) has driven up Adaro’s share prices in 2016, from IDR 515 to IDR 1,695
In the consumer sector, the positive business improvements of PT Mitra Pinasthika Mustika
Tbk. (ticker code: MPMX) boosted MPMX’s share price from IDR 489 to IDR 820 per share.
Further evidence of these improvements can be observed through the record number of
dividends paid, which in 2016 amounted to IDR 622 billion, a record for Saratoga, improving
from IDR 268 billion in 2015.
Saratoga Chief Financial Officer Jerry Ngo explained that in 2016, Saratoga started the
implementation of Statement of Financial Accounting Standards (SFAS) 65. With the new
accounting standards, Saratoga is able to reflect fair value to its investment assets, providing
concrete illustration on the company’s business performance in the future.
With regards to the new accounting standards, Saratoga posted IDR 6.34 trillion in
unrealized gain in investment income in 2016 – majority of which was obtained through oneoff,
mark-to-market adjustments, which marked the transition from equity accounting to fair
“Our performance in 2016 does not necessarily serve as a reference to how Saratoga will
perform in the future, as it was the result of the implementation of SFAS 65 in 2016. With the
new standards, shareholders will have the transparency to make a decision with regard to
their investment in Saratoga,” Jerry explained.
Annual General Meeting of Shareholders 2016 Results
In today’s Annual General Meeting of Shareholders, shareholders decided to pay a final
dividend of IDR 235.8 billion or IDR 87 per share, therefore the total dividend paid for 2016
was IDR 401 billion.
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