Accelerating the Growth of Indonesia’s Digital Industry, AtriaDC Focuses on Developing Environmentally Friendly and Interconnected Data Centers Close to End-Users

JAKARTA, 15 August 2022 – AtriaDC, an environmentally friendly data center service provider, is developing its data center assets equipped with a high-speed and reliable edge transmission network. AtriaDC currently operates a purpose-built data center located near the major Internet exchanges as well as end-users, thus allowing low-latency connectivity to support the ultimate experience for end-users.

AtriaDC President Director Angelo Syailendra explained that the company operates a data center which connects customers to the global ecosystem in a timely and flexible manner. AtriaDC will continue to focus on developing edge data centers which serve as an economic and interactive business hub. Armed with the concept of “environmentally friendly data center”, AtriaDC also seeks to support the Indonesian government’s initiative to achieve net zero
emissions by 2060.

“Our commitment is to build and develop environmentally friendly edge data centers to become a strategic partner for our customers, who are striving to meet their business objectives on digital transformation. We are confident that aided by our team of experts and proprietary technology, AtriaDC data centers will provide a solution to companies’ need to collocate, interconnect, and provide a world-class digital experience for partners, customers and end-users,” Angelo explained in an official statement in Jakarta on Monday (15/8).

AtriaDC also embodies the purpose-built concept, where the building is exclusively designed for a data center. The landbank that AtriaDC has secured will allow it to transform into a data center with the largest “purpose-built edge data center” concept in Indonesia. Designed and developed with world-class standards, AtriaDC data center has a forward-thinking service level with uptime rates of up to 99.999% and a security team and system of the highest
standard.

“The digitalization process in Indonesia is taking place at a rapid pace and requires the support of a large data center with world-class service standards. At AtriaDC, we strive to continuously improve and maintain our service levels to accommodate customer needs,” Angelo said.

To support this business strategy, AtriaDC has acquired an operating data center asset in the city located in the West Jakarta area with a landbank that is capable of facilitating a total capacity of approximately 30 megawatts (MW). Going forward, AtriaDC will continue to build and acquire other data center assets by adhering to environmental, social, and governance (ESG) principles by creating green data centers and using efficient renewable energy technology.

“This acquisition is the first step to strengthen AtriaDC’s position as an edge data center provider by considering both the large end-user population in the surrounding areas and the network density level, which is the main criterion for the edge data center business. We believe this strategy will support AtriaDC’s long-term target to become the best leading data center company for business players and the Indonesian digital community,” he said.

The development of AtriaDC as an environmentally friendly data center will receive full support from PT Saratoga Investama Sedaya Tbk. (SRTG) as the main shareholder. The support for AtriaDC is a testament to Saratoga’s consistency as an active investment company that takes initiatives in developing and realizing digital economic progress in Indonesia. Full support from Saratoga will enable AtriaDC to execute its business plans in a measured, disciplined, and optimal manner.

“Saratoga’s participation in developing AtriaDC is a reflection of the company’s commitment to taking an active role in developing strategic business sectors with strong long-term growth potential and having a major impact on Indonesia’s economic growth. With its experience and resources, Saratoga will be actively involved in supporting AtriaDC to become a company that develops environmentally friendly, purpose-built edge data centers and help it become a digitalization solution in Indonesia,” said PT Saratoga Investama Sedaya Tbk. (SRTG) President Director Michael William P. Soeryadjaya.

The current rapid growth of the digital economy in Indonesia has not been matched with an adequate capacity of modular data centers. Compared to the five main countries in ASEAN (Thailand, Singapore, Malaysia, Vietnam, and the Philippines), Indonesia only makes up a mere 12.7% share of installed data center capacity. Whereas cellular users (43.8%) and internet users (41.2%) in Indonesia are the largest. With an Indonesian population of more than 270 million people, Indonesia’s data center installed capacity is currently at only 0.6 watts per capita or an aggregate average of 167 megawatts. This is much lower than Japan, which has a population of 126 million people, and a data center installed capacity of around 15 watts per capita.

“This is highly promising potential. The number of Indonesian Internet users, which has reached 73.7% of the total population, certainly requires data center support with a reliable, fast, and stable network. We are trying to optimize this digitalization opportunity by providing the best services supported by reliable infrastructure and human resources,” Angelo concluded.

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About AtriaDC

AtriaDC is an environmentally friendly data center service provider with assets in strategic locations
in the city (Edge) with a purpose-built concept. AtriaDC provides quality and scalable data center
services for enterprises to collocate, interconnect, as well as deliver world-class digital experiences
to partners, customers and end-users.

About PT Saratoga Investama Sedaya Tbk.

Founded in 1997, PT Saratoga Investama Sedaya Tbk. (Saratoga, ticker code: SRTG) is a leading active investment company in Indonesia. Saratoga plays an active role in managing investee companies and investing in innovative companies with high growth potential across Southeast Asia. The company has a strong track record of identifying, developing, and creating value from the companies in which we invest.

Our investment strategy has been refined to adapt to the changing times, evolving from our initial focus on natural resources, infrastructure, and consumer sectors to our participation in other new emerging sectors, including the rapidly expanding digital technology sector that has grown to become a major main driver of Indonesia’s sustainable economic growth.

Saratoga’s vision is to continue to be a leading world-class active investment company and the partner of choice for both local and foreign investors looking to participate in the dynamics of Indonesia’s economic growth.

For more information, please visit: www.saratoga-investama.com

Saratoga Booked IDR 1.4 Trillion in Dividend Income, and Its NAV Reached IDR 60 Trillion by the First Semester of 2022

Jakarta, July 29 2022—PT Saratoga Investama Sedaya Tbk. (ticker code: SRTG) has successfully optimized its investment growth in line with the economic recovery. In the first semester of 2022, Saratoga has posted a dividend income of IDR 1.4 trillion, up by 58 percent compared to IDR 866 billion in the first semester of 2021. The dividend income was largely contributed by PT Adaro Energi Indonesia Tbk. (ADRO) and PT Mitra Pinasthika Mustika Tbk. (MPMX). Meanwhile, the increase in the value of its portfolio companies has propelled Saratoga’s Net Asset Value (NAV) to IDR 60 trillion, a 29 percent growth compared to the NAV in June 2021 (IDR 46.5 trillion).

Saratoga’s President Director Michael William P. Soeryadjaja explained that the consistent growth in NAV further underlined the Company’s success in implementing its investment strategy across different economic conditions. The strong performance of Saratoga’s portfolio companies that is in line with the economic recovery also demonstrated that Saratoga’s investments play a key role in Indonesia’s economic growth.

“We believe that Saratoga’s portfolio still has a vast potential for growth, which will ensure that the Company’s investment value will continue to increase. Saratoga will also continue to invest in strategic sectors that have broad impact to the nation’s economic revival,” Michael explained in an official statement in Jakarta (29/7).

Saratoga has taken several steps to optimize future investment opportunities. Among them, Saratoga has divested 3 percent of the Company’s shares in PT Tower Bersama Infrastruktur Tbk. (TBIG), valued at IDR 2.2 trillion, to Digital Bersama Infrastructure Asia Pte. Ltd. (BDIA). The divestment is part of an internal restructuring initiative carried out by Saratoga, together with Provident Group, to strengthen its investment strategy in the digital infrastructure sector, which includes telecommunication tower, fiber optic, and data center. Following the divestment of TBIG shares, Saratoga now owns 35.2 percent of BDIA and 9.3 percent of TBIG through a wholly owned subsidiary.

“The divestment of TBIG shares to BDIA is to strengthen the strategy and execution of Saratoga’s investment plans, including the collaboration with new partners. As part of the restructuring, we have successfully signed a partnership with Macquarie Asset Management as our strategic partner at BDIA,” said Michael.

New Investments

Saratoga’s Investment Director Devin Wirawan said that during the first semester of 2022, Saratoga has made several new investments to expand its portfolio. This includes investment into AtriaDC, a green in-town data center. Saratoga’s investment in AtriaDC is a form of our commitment and support for the acceleration of digitalization needed to promote Indonesia’s economic growth.

Saratoga has also made a new investment in Forest Carbon, a premium carbon project developer that was founded in 2012. Forest Carbon conserves forests and wetlands from deforestation, protects biodiversity, and empowers local communities, ensuring their prosperity and well-being. These activities generate carbon credits that can be utilized by leading global companies to support the fight against climate change.

The carbon credit business is one of the many emerging new industries, considering Indonesia’s large carbon reserves, which include abundant rainforests and critical wetland areas, where Indonesia constitutes one third of all peatlands in the world.

“Forest Carbon’s projects have been successful in restoring peatlands, protecting endangered species including the Sumatran tiger, and supporting local communities by providing health, education, and job opportunities. Protecting and preserving Indonesia’s nature is an important investment for Saratoga, as the implications of these efforts also help mitigate climate change,” said Devin.

Devin affirmed that Saratoga’s investment would continue to prioritize the principles of prudence, discipline, measured, and efficiency. This is reflected in the ratio of the Company’s annualized operating expenses to NAV at a mere 0.3 percent and the net debt to NAV ratio only at 0.5 percent. By the end of the first semester, Saratoga’s net debt stood at IDR 296 billion, a significant reduction from IDR 3 trillion at the end of the first quarter of 2022. Thanks to the Company’s efficiency and strong portfolio performance, Saratoga managed to strengthen its financial position in the first semester of 2022.

“Efficiencies in operating costs and borrowing costs are also part of Saratoga’s investment strategy. With the current debt position, Saratoga is fundamentally in a much stronger position to deploy more investments in the future,” concluded Devin.

Corporate Actions of Investment Portfolios

PT Merdeka Copper Gold Tbk. (MDKA)

  • MDKA has increased its indirect ownership in two Rotary Kiln Electric Furnace (RKEF) smelters already in operation, namely Cahaya Smelter Indonesia and Bukit Smelter Indonesia. Investments in the two companies were carried out by MDKA’s subsidiary, PT Hamparan Logistik Nusantara (HLN), which increased its ownership from 28.4 percent and 49.0 percent to 50.1 percent in both entities.
  • HLN has also acquired a 50.1 percent stake in PT Zhao Hui Nickel, which is currently building a four-line RKEF smelter located in Indonesia’s Morowali Industrial Park that is targeted to be commissioned by 2023.
  • Contemporary Amperex Technology Co. Ltd. (CATL) has become a strategic partner of MDKA with a current ownership stake of 5 percent in the company. CATL is a global leader in lithium-ion battery development and manufacturing and is listed on the Shenzhen Stock Exchange. Together with MDKA, CATL will explore investments in mineral resources for the battery metal value chain, such as nickel, cobalt, lithium, copper, manganese, and aluminum.

PT Mitra Pinasthika Mustika Tbk. (MPMX)

  • To optimize opportunities in the automotive business, MPMX has established a strategic partnership with CARRO, the largest and fastest-growing used car marketplace in South East Asia, where CARRO has acquired a 50 percent stake in MPMRent for IDR784bn.
  • The synergy between MPMRent and CARRO will drive technology-based business optimization and digitization such as Big Data, Artificial Intelligence, and relevant pricing algorithms. The objective is to create an integrated online and offline automotive ecosystem by offering a comprehensive line up of products and services ranging from marketplace, rentals, financing, to insurance for the B2B and B2C markets.

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About PT Saratoga Investama Sedaya Tbk

Founded in 1997, PT Saratoga Investama Sedaya Tbk (Saratoga, ticker code: SRTG) is a leading active investment company in Indonesia. Saratoga plays an active role in managing investee companies and investing in innovative companies with high growth potential across Southeast Asia. The company has a strong track record of identifying, developing, and creating value from the companies in which we invest.

Our investment strategy has been refined to adapt to the changing times, evolving from our initial focus on natural resources, infrastructure, and consumer sectors to our participation in other new emerging sectors, including the rapidly expanding digital technology sector that has grown to become a major main driver of Indonesia’s sustainable economic growth.

Saratoga’s vision is to continue to be a leading world-class active investment company and the partner of choice for both local and foreign investors looking to participate in the dynamics of Indonesia’s economic growth.

For more information, please visit: www.saratoga-investama.com.

Or contact:

General :Financials:
Corporate SecretaryInvestor Relations
corporate.secretary@saratoga-investama.cominvestor.relations@saratoga-investama.com

Supported by National Economic Recovery, Saratoga’s NAV Grows Positively in 2021

Jakarta, March 14, 2022 – PT Saratoga Investama Sedaya Tbk. (Saratoga, ticker code: SRTG), an active Indonesia-based investment company, has booked the highest Net Asset Value (NAV) in the company’s history, amounting to IDR 56.3 trillion, in large due to increase in the unrealized mark-to-market value of the company’s portfolio. This figure is an increase of 78 percent from the company’s NAV of IDR 31.7 trillion in 2020.

Saratoga President Director Michael William P. Soeryadjaya said that Saratoga’s portfolio companies’ ability to tap into opportunities during the national economic recovery from the COVID-19 pandemic in 2021 was key to the stellar performance of the company. Supported by strong fundamentals and a strategic business sector, the share prices for the majority of Saratoga’s portfolio soared last year.

“One of the factors that contributed to the growth of Saratoga’s NAV last year was the surge in share prices of virtually our entire investment portfolio especially PT Tower Bersama Infrastructure Tbk. (TBIG), PT Adaro Energy Tbk. (ADRO), PT Merdeka Copper Gold Tbk. (MDKA), and PT Mitra Pinasthika Mustika Tbk. (MPMX),” Michael said in an official statement in Jakarta on Monday, March 14, 2022.

Michael explained that the increase in share price was in line with the solid financial performance. This is evident from the contributions of the companies to Saratoga’s dividend income, which reached IDR 1.65 trillion throughout 2021, up 120 percent from 2020’s IDR 750 billion.

“We appreciate the strategic and tactical steps taken by Saratoga portfolio companies, as it has allowed them to optimize the momentum of economic growth, which has continued to gain traction since last year. Moving forward, Saratoga will continue to be actively involved in the process of growing and strengthening the business fundamentals of each of the companies in our investment,” Michael explained.

Investment in Start-ups

In accordance with Saratoga’s commitment to driving national economic growth, the company also continues to seek and optimize opportunities through new investments. In 2021, the company undertook a number of monumental steps by investing in three start-ups, namely Xurya Daya Indonesia (Xurya), SIRCLO, and Fuse. Saratoga also invested in the digital and advertising company, City Vision. Furthermore, by the end of December 2021, Saratoga had increased its stakes in PT Mitra Pinasthika Mustika Tbk. (MPMX) and PT Aneka Gas Industri Tbk. (AGII) compared to 2020 – from 52.21 percent to 56.69 percent and from 8.39 percent to 9.31 percent, respectively.

Saratoga Investment Director Devin Wirawan explained that new investments, be that in a start-up or digital media, are further reflections of the company’s strategy in which it is actively tapping into the opportunities within the ever-growing digital and infrastructure sectors. Saratoga is also proactively assisting the new investment in developing their future strategies and executing their business plan in a measured and optimal manner.

“Throughout 2021, Saratoga’s total investments reached approximately IDR 1.32 trillion. We are confident that this investment strategy will be able to keep the company’s performance on a strong trajectory and sustain our business longevity,” he explained.

Devin also said that amid a highly dynamic economy in 2021, Saratoga did exceptionally well in maintaining its operating efficiency and strong balance sheet capability. “The ratio of our operating costs to NAV was 0.3 percent, while the loan ratio was around 5.8 percent. We will continue to ensure that there is further room for operating cost and borrowing cost efficiencies,” Devin added.

The following are the profiles of Saratoga’s new investee companies in 2021:

1City Vision
As the leading and most innovative outdoor media company in Indonesia, City Vision grows its business by providing in-depth brand recall and in-depth site effectiveness research products to both advertisers and advertising agencies. Armed with a digital creative team that has proven skills for the formulation of digital campaign strategies, City Vision is also a leader in public transport media (Transit). City Vision reaches the largest and busiest commuter line train station network in Jakarta, with potential passenger traffic of nearly 10 million people every week.
2Xurya Daya Indonesia (Xurya)
Xurya is a market-leading renewable energy company that provides industry players with an easy transition to solar energy through long-term leasing contracts. The company currently operates close to 60 rooftop solar assets, including another 38 sites still under construction, representing multiple consumer sectors, such as manufacturing, logistics, hotels, and shopping malls. As a company that focuses on supporting government initiatives to reduce carbon gas emissions, Xurya also offers a one-stop solution for solar power needs, which includes feasibility studies, installation to operation, and maintenance.
3SIRCLO
The company is Indonesia’s leading e-commerce solution that helps businesses venture into the online market. SIRCLO offers two categories of solutions, namely entrepreneur solutions (SIRCLO Store – a dashboard for online store management) and enterprise solutions (i.e. SIRCLO Commerce – e-commerce enabler services and technologies for omni-channel development via iCube). Currently, SIRCLO has served more than 100,000 brands for the development of their online business such as Unilever, Reckitt Benckiser, KAO, L’Oréal, and Levi’s.
4Fuse
The company is an insuretech platform, connecting various insurance products from numerous insurance companies to various distribution facilities, channels, and partners. Fuse, and the technology it develops, makes insurance more accessible, instantly available, and affordable for everyone.

2021 Performance of Investee Companies

PT Tower Bersama Infrastructure Tbk. (TBIG)

TBIG’s performance has increasingly gained momentum amid the wave of digitalization that has occurred since the COVID-19 pandemic in the last two years. Until the third quarter of 2021, TBIG had operated 20,000 sites with 38,000 tenants, an increase from 16,000 sites and 32,000 tenants in 2020.

In 2021, TBIG acquired 3,000 towers from PT Inti Bangun Sejahtera Tbk (IBST) that are valued at USD 280 million and funded using internal funding as well as bank facilities. In 2021, TBIG also issued two USD bonds worth a total of USD 650 million, both secured BBB- ratings by Fitch Ratings Ltd and five rupiah bonds totaling IDR 6.5 trillion.

PT Merdeka Copper Gold Tbk. (MDKA)

In 2021, the company produced 124,730 oz. of gold, higher than the target of 100,000-120,000 oz. Meanwhile copper production reached 19,045 tons, a sharp increase compared to 5,377 tons in 2020. Copper production in 2021 also exceeded the company’s target of 15,500-18,500 tons.

MDKA’s 2021 consolidated revenue is valued at USD 381 million, up 18 percent compared to USD 322 million in 2020. The company’s EBITDA reached USD 221 million, an increase of 47 percent compared to USD 151 million in 2020.

In 2021 MDKA acquired a 50.1 percent stake in PT Andalan Bersama Investama, the owner of PT Gorontalo Sejahtera Mining (GSM). Following the transaction, MDKA gained control over the majority stake in the Pani Gold Project through PT Pani Bersama Jaya (PBJ) and GSM. The Pani Project is estimated to have a resource of 4.7 million ounces of gold with an annual production potential of 250,000 ounces over a 15-year span.

In December 2021, MDKA signed a Memorandum of Understanding (MOU) to engage in a strategic partnership with Hong Kong Brunp Catl Co. Ltd. (an affiliate of Contemporary Amperex Technology Co. Ltd.-CATL), focusing on the battery metal supply chain in Indonesia.

PT Adaro Energi Indonesia Tbk. (ADRO)

In 2021, the company’s operational EBITDA went up by 138 percent to USD 2.1 billion from USD 883 million in 2020. The 2021 EBITDA also exceeded the company’s target of USD 1.8-1.9 billion. ADRO’s core profit last year soared to USD 1.3 billion compared to USD 405 million in 2020.

The surge in coal prices from USD 80 per ton in early 2021 to USD 150 per ton at the end of the year provided a positive catalyst for ADRO’s performance. The high global demand for coal amid limited supply has been the driving factor for coal prices to continue breaking higher price levels globally.

In December 2021, ADRO acquired a 3.7 percent stake in PT Cita Mineral Investindo Tbk (CITA) – valued at IDR 359 billion. On the same day, the company also signed a Letter of Intention to Invest (LoI), worth a total of USD 728 million, to build an aluminum smelter in the world’s largest Green Industrial Park Indonesia (North Kalimantan), which was developed by PT Kalimantan Industrial Park Indonesia.

PT Mitra Pinasthika Mustika Tbk. (MPMX)

MPMX booked double-digit revenue growth with a significant recovery in net profit in the first nine months of 2021. National sales of motorcycles went up to 5.1 million units in 2021 compared to 3.7 million units in 2020, contributing to MPMX’s growth, in addition to the company’s ability to implement cost efficiency and market optimization.

In 2021, MPMX released an internal Digital Transformation Program called MPMXplore to improve growth and unlock value from the business. Marking this nascent venture, MPMX expanded its offline auction (AUKSI) business into an online platform and also launched OtoDeals (www.otodeals.com), an innovative used car sales platform.

PT Aneka Gas Industri Tbk. (AGII)

In March 2021, the company completed the acquisition of 2 operating units, namely Cikande – Banten and Gresik – East Java from PT Samator with additional assets of IDR 600 billion. The acquisition aims to improve efficiency, increase market share, as well as accelerate revenue and profit growth.

Primaya Hospital

In 2021, Primaya Hospital launched five new hospitals, namely Primaya Bhakti Wara Hospital in Bangka Belitung, Primaya Hospital Sukabumi in West Java, Primaya Hospital Pasar Kemis in Banten, Primaya Hospital Semarang in Central Java, and Primaya Hospital PGI Cikini in Jakarta.

Primaya Hospital plans to open 3-4 new hospitals annually. This expansion has allowed Primaya Hospital to book strong financial performance in terms of revenue and EBITDA.

MGM Bosco Logistics (MBL)

MBL is a leading company providing truck-based cold-chain services and cold-storage services in Indonesia. In 2021, construction of the Mulia Bosco Utama (MBU) Phase Two-Bekasi cold storage facility was completed ahead of schedule in September 2021, adding approximately 30 percent of storage capacity to the existing facility.

Deltomed

In 2021, the company introduced three new herbal products to optimize market opportunities. These products are Antangin Goodnight, an herbal tablet that helps improve sleep quality, Antangin Habbatussauda (Black Seed) which treats cold symptoms while increasing immunity, and Kojima Candy, an herbal candy mixture (including Black Seed and honey). Deltomed posted strong double-digit revenue growth in 2021.

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Abou

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About PT Saratoga Investama Sedaya Tbk

Founded in 1997, PT Saratoga Investama Sedaya Tbk (Saratoga, ticker code: SRTG) is a leading active investment company in Indonesia. Saratoga plays an active role in managing 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 an emphasis on sectors supporting economic growth in Indonesia such as consumers, infrastructure, and natural resources.

Saratoga’s vision is to continue to be a leading active investment company and the partner of choice for both local and foreign investors seeking to participate in the dynamics of Indonesia’s economic growth.

For more information, please visit: www.saratoga-investama.com.

Or contact:

General :Financials:
Corporate SecretaryInvestor Relations
corporate.secretary@saratoga-investama.cominvestor.relations@saratoga-investama.com