A strong rebound of Saratoga’s portfolio performance in Q1 2019
Jakarta, April 29 2019 – PT Saratoga Investama Sedaya Tbk. (ticker code: SRTG) posted a net profit of 1.1 trillion during the first quarter of 2019, a significant increase from the same period last year. The increase in net profit, though unrealized, was mostly contributed by the share price rally of PT Adaro Energy Tbk. (ticker code: ADRO), PT Mitra Pinasthika Mustika Tbk. (ticker code: MPMX) and PT Tower Bersama Infrastructure Tbk. (ticker code: TBIG). This marked a good recovery of Saratoga’s portfolio companies from last quarter.
Saratoga President Director Michael Soeryadjaya stated that during the first quarter, Saratoga’s overall portfolio rebounded nicely from last quarter and outperformed the Jakarta Stock Exchange Composite index (JCI) which rose 4 percent during the same period.
“We are glad to see that the equity investors recognized the growth potential and value of these companies. As a long-term shareholder, we continue to put our focus on the fundamental strength of these companies and provide our support. Looking forward, as the presidential election went smoothly, and the uncertainty is eased from the market, we are optimistic that our portfolio companies will have a great year ahead” Michael said in Jakarta
In addition to supporting its existing portfolio companies, Saratoga has also deployed fresh capital in the first quarter 2019. In February, Saratoga launched a Voluntary Tender Offer for MPMX shares. As a result, Saratoga has purchased 160 million MPMX shares and officially became the majority shareholder of MPMX. “The Voluntary Tender Offer is an effort to strengthen our investment portfolio in the consumer sector. MPMX plays an important role in our consumer portfolio, and we look forward to working closely with the management of MPMX to achieve great things together going forward.” explained Michael.
About PT Saratoga Investama Sedaya, Tbk.
Founded in 1998, PT Saratoga Investama Sedaya, Tbk. (Saratoga, ticker code: SRTG) is the leading active investment company in Indonesia. Saratoga plays an active role in managing its investee companies and exploring investment opportunities in Indonesia.
Saratoga focuses on investment opportunities in the early and growth stages, as well as in special conditions with a focus on sectors that support economic growth in Indonesia such as consumer, infrastructure and natural resources.
Saratoga’s vision is to continue to be the leading active investment company and become a partner of choice for local and foreign investors seeking to participate in the dynamics of Indonesia’s economic growth.
For more information, please visit: www.saratoga-investama.com.