Focusing on Indonesia’s E-Commerce Acceleration, SIRCLO Announces Triawan Munaf and Maurits Lalisang as New Commissioners

Left to right: Brian Marshal, Triawan Munaf, Maurits Lalisang

Jakarta, 7 October 2021—E-Commerce enabler SIRCLO today welcomed Triawan Munaf and Maurits Lalisang as the company’s new commissioners. Triawan and Maurits will join forces to support SIRCLO in developing its technological capabilities, as well as accelerating the digitisation process of MSMEs and enterprise-scale businesses throughout Indonesia. 

Brian Marshal, Founder and CEO of SIRCLO, expressed his pride and respect in welcoming the two prominent figures who have experience in accelerating the growth of established businesses in Indonesia, for over three decades.


“As the go-to figures behind the growth of multiple big companies in Indonesia, Mr. Triawan and Mr. Maurits share the same vision with SIRCLO, which is to help business players adapt and transition to the digital realm through the omnichannel strategy,” said Brian. “We look forward to learning from them and expanding the company’s positive social and economic impact in supporting the growth of businesses through e-commerce, for both MSMEs and enterprise businesses alike. Together, we hope to become a sustainable company that could shape the foundation of Indonesia’s digital economy and boost the nation’s economy in the long run.”

Triawan Munaf is a renowned figure and serial entrepreneur in Indonesia, who also has been a creative industry player from an early age. As a former President Commissioner of PT Garuda Indonesia Tbk. and the former Head of the Creative Economy Agency (BEKRAF), Triawan’s enthusiasm for building the technology industry in Indonesia is evident from his arrival to the leadership ranks of East Ventures as a Venture Advisor in February 2020. Recently, he was also appointed as President Commissioner and Independent Commissioner of PT Aviasi Wisata Indonesia Tbk.

Sharing the same vision with SIRCLO to help nurture Indonesian entrepreneurs, Triawan Munaf stated, “The need to carry out digital transformation has become inevitable for business players across various scales—and even more so for MSMEs, who are the primary drivers of our economy. I have seen how SIRCLO helps this segment substantially through various ideas and solutions. Hence, I believe that their capability would contribute to the exponential growth of Indonesian MSMEs. I am excited to join SIRCLO, as this is in line with my vision of increasing the added-value of various Creative Economy sub-sectors, most of which consist of MSMEs,” he added. 

Committed to advancing SIRCLO, Maurits Lalisang is a distinguished leader who has an excellent track record of four decades, namely 11 years as CEO and 6 years as President Commissioner in PT Unilever Indonesia Tbk., a prominent multinational company. Through his various breakthroughs and innovations, he has succeeded in strengthening Unilever’s position as the market leader in the Fast Moving Consumer Goods (FMCG) industry. Currently, he is serving as the President Commissioner of PT Multi Bintang Indonesia Tbk, Commissioner of PT ICI Paints Indonesia, Commissioner of PT Deltomed Laboratories and as a Partner of the Saratoga Group, an active investment company in Indonesia.

Cementing his support for the e-commerce industry that has grown rapidly in the last two years, Maurits said, “I am very proud to know SIRCLO, an e-commerce enabler company that empowers thousands of MSME and enterprises, which in turn will bring massive contribution to Indonesia’s economic growth. It is an honor to join the company, in the process of developing SIRCLO’s business in the future. I am optimistic that SIRCLO will become a sustainable company that is increasingly valuable, both in terms of business and its contribution to the Indonesian economy.”

Since its establishment in 2013, SIRCLO has continued to adapt to the landscape and various challenges of e-commerce in Indonesia. Currently, SIRCLO provides end-to-end enabler services to business owners, collaborates with various marketplaces, develops social commerce channels, and serves enterprise-scale clients. As of this year, SIRCLO has helped more than 100,000 brands to sell online, from individual entrepreneurs, MSMEs, to large companies.

***

About SIRCLO

Founded in 2013, SIRCLO is a leading e-commerce solution company in Indonesia that helps businesses sell online. SIRCLO offers solutions that are divided into 2 main categories; the entrepreneur and enterprise solutions. In the entrepreneur category, SIRCLO offers SIRCLO Store, an online store dashboard for SMEs to sell across 3 various platforms (website, marketplace, chat commerce) and IbuSibuk, a solution empowering communities of mothers as Key Opinion Leaders (KOL), micro-influencers and resellers. In the enterprise category, SIRCLO offers e-commerce enabler services through SIRCLO Commerce, a solution for omnichannel technology development through ICUBE by SIRCLO, a B2B2C platform selling Mom & Baby products through Sooplai, and Orami, a parenting platform that combines Commerce, Content & Community within one ecosystem.

Today SIRCLO has served more than 100.000 brands to grow their business online. SIRCLO’s solution has been trusted by local brands entailing ATS The Label, Evete Naturals, Namaste Organic, This Is April and Heytimmy Kidswear, as well as trusted by established brands such as Unilever, Reckitt, KAO, L’Oréal, and Levi’s. Located at the Green Office Park 1, The Breeze (BSD – Serpong), the company has 1.000 employees and representatives based in Jakarta, Bekasi, Bandung, Yogyakarta and Surabaya.

For more details about SIRCLO, visit www.sirclo.com.

Contact:

SIRCLO

Rini Hapsoro

Communications Manager

M: +62 878 757 710 80

E: rini@sirclo.com

Saratoga NAV Reached IDR 46.5 Trillion in Semester I-2021

Jakarta, July 29, 2021  PT Saratoga Investama Sedaya Tbk (stock code: SRTG) reached a net asset value (NAV) of IDR 46.5 trillion in semester I-2021. This value increased from NAV at the end of 2020 of IDR 31.7 trillion. The company also recorded a net profit – attributed to owners of the parent entity – of IDR 15.3 trillion, compared to a net loss of IDR 2.1 trillion in semester I-2020.

Saratoga President Director Michael Soeryadjaya said that the success of our portfolio companies in maintaining a resilient performance in 2021 has increased the value of Saratoga’s portfolio. The positive performance is also accompanied by their consistent dividend distributions, which further strengthened Saratoga’s business fundamentals.

“The rising share price performance of our portfolio companies has supported Saratoga’s NAV growth during semester I-2021. This is proof that Saratoga’s portfolio companies are able to stay resilient during this pandemic,” said Michael, in an official statement in Jakarta, on Thursday (29/7).

Saratoga’s NAV growth in semester I-2021 was due to appreciation in share price of several portfolio companies; mainly contributed by PT Tower Bersama Infrastructure Tbk (stock code: TBIG), PT Merdeka Copper Gold Tbk (stock code: MDKA), PT Mitra Pinasthika Mustika Tbk (stock code: MPMX), and PT Provident Agro Tbk (stock code: PALM).

Saratoga also posted dividend income of IDR 866 billion in semester I-2021, an increase of 35.3 percent, from IDR 640 billion during the same period in the previous year. This dividend income is mainly contributed by PT Adaro Energy Tbk. (ADRO), TBIG, and MPMX.

Michael added that Saratoga will continue to implement a diversification strategy in deploying investments and disciplined financial management to maintain long-term business sustainability. Debt and cost ratios will continue to be managed and maintained at an efficient level. Currently, annualized operating costs to NAV is at 0.4 percent with loan to value at 5.7 percent.

Saratoga Investment Director Devin Wirawan explained that in semester I-2021, Saratoga continued to encourage portfolio companies to expand their business into new regions. For example, Primaya Hospital – under PT Famon Awal Bros Sedaya – has opened three new hospitals since the start of the year. The three hospitals were Primaya Hospital Bhakti Wara in Pangkal Pinang-Bangka Belitung, Primaya Hospital Sukabumi in West Java, and Primaya Hospital Pasar Kemis in Tangerang-Banten.

“The launch of these three new hospitals adds to Primaya Hospital’s existing operational assets, bringing them to 12 hospitals by end of semester I-2021. This expansion is also part of Saratoga’s initiative in supporting the government’s efforts to provide the best healthcare service amid the ongoing pandemic,” he said.

Devin also explained that one of Saratoga’s strategic portfolio companies, MDKA, has further strengthened its long-term business fundamentals. He revealed that the latest drilling test from the Tujuh Bukit Copper Project in Banyuwangi resulted in a significant intercept of copper and gold.

MDKA has also completed a feasibility study for the Acid, Iron, Metal (AIM) Project, which is projected to have a net present value (NPV) of IDR 5.8 trillion. The AIM Project is operated by Merdeka Tsingshan Indonesia (80 percent MDKA, 20 percent Tsingshan) and located in the Indonesia Morowali Industrial Park in Morowali Regency, Central Sulawesi. Construction has begun in quarter II-2021 and production is targeted to start in quarter II-2022.

Amid rising demand in the logistics sector, Devin said that Saratoga’s portfolio company, MGM Bosco Logistics, is currently constructing the second phase of its cold-storage facility in Bekasi. The new facility is expected to start operating in quarter IV-2021.

“Saratoga will continue to assist all of our portfolio companies in exploring new opportunities and growing their business value. We are also open to new investment opportunities, including in the technology sector, which is now growing rapidly in Indonesia,” Devin stated.

INVESTMENT COMPANY PERFORMANCE

PT TOWER BERSAMA INFRASTRUCTURE TBK

In April 2021, the company completed the sale and purchase transaction as well as transfer of 3,000 towers from PT Inti Bangun Sejahtera Tbk (IBST) for a total value of IDR 4.0 trillion. The transaction was funded by internal funds and existing bank facilities. In the same month, TBIG also issued a IDR 970 billion bond, which will mature in 2022 at an interest rate of 5.50 percent.

PT MERDEKA COPPER GOLD TBK

In this semester, MDKA completed a feasibility study for the Acid, Iron, Metal (AIM) Project. With an estimated project capital cost of US$290 million or IDR 4.2 trillion, the AIM Project is estimated to have an NPV of US$407 million or IDR 5.8 trillion. Merdeka Tsingshan Indonesia (80 percent MDKA, 20 percent Tsingshan) operates the AIM Project, which started construction in quarter II-2021 with a target production date in quarter IV-2022.

PT DELTOMED LABORATORIES

Deltomed has launched Antangin Goodnight and Antangin Habbatussauda. Antangin Good Night is a herbal supplement that helps improve sleep quality, while Antangin Habbatussauda helps treat cold symptoms along with boosting the immune system. Deltomed achieved double-digit revenue growth this semester supported by the launching of Antangin Habbatussauda.

MGM BOSCO LOGISTICS

MGM Bosco Logistics is currently constructing the second phase of its cold-storage facility in Bekasi. The new facility is aimed to begin operations in quarter IV-2021.

PT ADARO ENERGY TBK

Newcastle coal price continued to strengthen from US$60 per ton at the end of 2020 to US$130 per ton at the end of semester I-2021, driven by limited global supply and increasing volume of demand, especially from China’s electricity needs.

PT MITRA PINASTHIKA MUSTIKA TBK

The ongoing economic recovery has had a positive impact on MPMX. The company revised its 2021 revenue projection to grow by 20-25 percent, compared to the initial projection of 10-15 percent. Meanwhile, the Net Profit After Tax (NPAT) in 2021 is projected to reach more than IDR 300 billion. MPMX’s optimism is supported by recovery in national motorcycle sales, which grew by 30 percent during semester I-2021 to 2.5 million units, from 1.9 million units in semester I-2020. The Association of Indonesia Motorcycle Industry estimates motorcycle sales will reach 4.3-4.6 million units by the end of the year, compared to sales in 2020 which reached 3.7 million units.

PT ANEKA GAS INDUSTRI TBK

In March 2021, AGII completed the acquisition of two business units from PT Samator and added IDR 600 billion worth of assets. In May 2021, AGII signed a 12-year contract with PT Timah Tbk (TINS) to build a plant that will supply industrial gas needed for a tin refining smelter in Muntok City, West Bangka Regency – Province of Bangka Belitung Islands. The smelter will be fully operational in 2022.

PT FAMON AWAL BROS SEDAYA

PT Famon Awal Bros Sedaya (Primaya Hospital) launched three new hospitals in the first half of this year in Pangkal Pinang, Sukabumi, and Pasar Kemis. Primaya is planning to launch two more hospitals in semester II-2021. Primaya Hospital will continue to support the government’s efforts in providing the best healthcare service amid the ongoing pandemic

**End**

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 stages and growth, and in special situation with a focus on sectors that support 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 become the partner of choice for local and foreign investors looking to participate in the dynamics of Indonesia’s economic growth.

For further information please visit: www.saratoga-investama.com.

Or contact:

General:                                                                  Financials:

Corporate Secretary                                                    Investor Relations

corporate.secretary@saratoga-investama.com                  investor.relations@saratoga-investama.com

Saratoga General Meeting of Shareholders Approves IDR 298 Billion Dividend Distribution and Stock Split as Investment Portfolio Enjoys Positive Growth

Jakarta, 28 April 2021 – The Annual General Meeting of Shareholders (AGMS) of PT Saratoga Investama Sedaya Tbk. (Saratoga, ticker code: SRTG) today approved the distribution of dividends of up to IDR 298.43 billion or IDR 110 per share. Additionally, the Extraordinary General Meeting of Shareholders (EGMS) which was held following the AGMS also approved Saratoga’s management’s suggestion to conduct a stock split with a ratio of 1:5.

Saratoga President Director Michael W.P. Soeryadjaya explained that Saratoga’s consistency in distributing dividends to shareholders is part of the company’s commitment to continue providing optimal added value. This illustrates that Saratoga’s investment strategy is on the right track.

“We would like to express our gratitude for the support of our shareholders who have made it possible for the company to execute every investment plan. We are certain that this dividend and stock split decision will make Saratoga more attractive as an investment partner in the Indonesian capital market,” Michael explained at the conclusion of the AGMS and EGMS which were held online in Jakarta, Wednesday (28/4).

Michael commented that the COVID-19 which started in early 2020 has created a lot of uncertainty and drove down economic activity both globally and nationally. However, in such a highly dynamic and challenging situation, Saratoga managed to sustain positive growth momentum in its investment portfolio. This is reflected in the company’s net asset value (NAV), which went up by 39% to IDR 31.70 trillion by end of 2020.

“During the pandemic, the focus of our strategy is to maintain operational resilience, both at the parent company and all of our investment portfolio companies. By continuing to prioritize prudence in managing all risks and consistently implementing a diversification strategy, we are grateful that the target for operational resilience could be well-achieved,” he said.

In 2020, Saratoga’s investment value in PT Merdeka Copper Gold Tbk (MDKA) increased 120% to IDR 10.18 trillion and the investment value in PT Tower Bersama Infrastructure Tbk (TBIG) increased 56% to IDR 12.64 trillion. Saratoga also managed to book dividend income in 2020 of IDR 750 billion, most of which was contributed by PT Adaro Energy Tbk (ADRO) with IDR 215 billion, PT Tower Bersama Infrastruktur Tbk (TBIG) IDR 214 billion, PT Mitra Pinasthika Mustika Tbk (MPMX) with IDR 210 billion and PT Provident Agro Tbk (PALM) with IDR 105 billion.

Saratoga Investment Director Devin Wirawan said that to support the government in carrying out economic recovery efforts from to the COVID-19 pandemic, Saratoga will continue to optimize investment across business lines which represent the vital sectors for Indonesians. The company will also encourage members of its investment portfolio to venture out on a business expansion so that they will be able to reach more markets and provide solutions for the community.

Devin pointed out the expansion of PT Famon Awal Bros Sedaya (Primaya Hospital) which continues to provide the best medical services in various regions in Indonesia. In 1H21, Primaya Hospital is set to launch 4 new hospitals to complement the 9 hospitals that have been operating through the end of 2020. To support the acceleration of digitalization in Indonesia, PT Tower Bersama Infrastructure Tbk (TBIG) also continues to strengthen its telecommunication infrastructure, including through an acquisition of 3,000 towers from PT Inti Bangun Sejahtera Tbk. (IBST)

To support the expansion of its investment portfolio, Devin continued, Saratoga is also consistent in undertaking corporate actions and shoring up investment. For example, our investment in Mulia Bosco Logistik where the company’s share ownership increased from 7.5% to 23.7%. Saratoga has also increased the company’s share ownership in MPMX by 4.34% this month.

“Apart from the stock split, today’s EGMS also approved the company’s share buyback plan of up to 25 million shares or 0.92% of the paid-up shares. These corporate actions are Saratoga’s commitment to optimize every opportunity amid dynamic business challenges,” Devin said.

***END***

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 a focus on sectors that support economic growth in Indonesia such as consumers, infrastructure and natural resources.

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

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

Or contact:

Contact:

General:                                                                                                Financials:

Corporate Secretary                                                                             Investor Relations

corporate.secretary@saratoga-investama.com           investor.relations@saratoga-investama.com

Saratoga Remains Robust by Booking Stellar Performance in 2020

Jakarta, March 9, 2021 – PT Saratoga Investama Sedaya Tbk. (ticker code: SRTG) posted a solid performance in 2020. The company’s net profit increased by 20 percent to IDR 8.82 trillion. This was supported by an increase in the value of the investment portfolio, evidenced from the net asset value of Saratoga surging 39 percent to IDR 31.70 trillion at the end of 2020.

Saratoga President Director Michael Soeryadjaya remarked that the solid performance of Saratoga’s investee companies during the 2020 pandemic was the key to the company’s achievement. This was reflected in the increase in the value of Saratoga’s investments in a number of portfolio companies as well as consistent dividend payments.

“We are grateful that amid a difficult situation due to the COVID-19 pandemic, Saratoga has succeeded in sustaining its growth momentum and achieved a robust performance. As an investment company with long-standing experience in Indonesia, Saratoga prioritizes prudence by managing all risks involved and consistently implementing a diversification strategy. This approach has kept us strong amid uncertainty and allowed us to be responsive in addressing all the dynamic changes,” Michael said in Jakarta, Tuesday (9/3).

Throughout 2020, Saratoga directed its focus in developing corporate strategies to maintain operational resilience during the pandemic, both for the parent company and its investee companies. By the end of 2020, this target of operational resilience has proved to be achievable.

In 2020, Saratoga’s investment value in PT Merdeka Copper Gold Tbk. (ticker code: MDKA) rose 120 percent to IDR 10.18 trillion and the investment value in PT Tower Bersama Infrastructure Tbk. (ticker code: TBIG) increased by 56 percent to IDR 12.64 trillion. Saratoga also managed to book a total dividend income of IDR 750 billion in 2020, which was mainly contributed by PT Adaro Energy Tbk. (ticker code: ADRO) at IDR 215 billion, PT Tower Bersama Infrastruktur Tbk. (ticker code: TBIG) at IDR 214 billion, PT Mitra Pinasthika Mustika Tbk. (ticker code: MPMX) at IDR 210 billion and PT Provident Agro Tbk. (ticker code: PALM) at IDR 105 billion.

Michael added that Saratoga will continue to seek new investment opportunities and support the government’s efforts to accelerate economic recovery from the impact of COVID-19 pandemic. “We hope that the current vaccination program can swiftly break the COVID-19 chain of transmission and put this pandemic to a stop. Saratoga will continue to actively implement its strategy to ensure that the growth of the company will be even more optimal after the pandemic ends,” he added.

Saratoga Investment Director Devin Wirawan explained that a number of Saratoga’s investee companies found their business growth momentum during the pandemic. He described that MDKA’s performance continued to strengthen thanks to the steep increase in gold and copper price in 2020. Amid economic uncertainty due to the COVID-19 pandemic, gold is a “safe haven” commodity which will remain as the most sought-after investment instrument in the world. This opportunity will further strengthen MDKA’s fundamentals going forward.

Devin continued, society’s increasingly rapid adoption of the online digital ecosystems has provided greater opportunities for PT Tower Bersama Infrastruktur Tbk. as a provider of telecommunication infrastructure services. Meanwhile, in the consumer sector, PT Deltomed, which produces herbal medicines, has succeeded in optimizing the strong public demand for health products during this pandemic. PT Famon Awal Bros Sedaya, our hospital group, also continued to support the government’s efforts in controlling the pandemic 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 investee companies to grow and optimize every available opportunity. In a situation that remains highly dynamic and challenging, Saratoga’s cost ratio to net asset value, which is still low at around 1 percent, will help the company’s performance to remain solid,” Devin said.

Investee Companies’ Performance

PT Adaro Energy Tbk. ADRO coal production reached 54.53 million tons and coal sales volume reached 54.14 million tons in 2020. Adaro is seeing some signs of rebalancing in the coal market thanks to the discipline with supplies. The company remains optimistic about the industry’s long-term fundamentals. In facing short-term challenges, the company is focusing on preserving cash, strengthening its capital structure and financial position, staying on the existing path, continuing to execute strategies to ensure business sustainability, as well as making contributions to national development.

PT Merdeka Copper Gold Tbk. Increase in gold and copper commodity prices during 2020 has provided a momentum to strengthen the company’s business fundamentals. In 2021, MDKA targets a total gold production of 100,000 – 120,000 tons and copper of 14,000 – 17,000 tons and remains focused on developing the Tujuh Bukit Copper project, which experienced positive progress in 2020. In addition, MDKA has also signed a memorandum of understanding (MOU) with Eternal Tsingshan Group Limited (Tsingshan) to develop a copper ore processing project at the Wetar mine. This partnership is expected to commence commercial production within two years and become a long-term multi-commodity asset for MDKA.

PT Mitra Pinasthika Mustika Tbk. Even though the automotive industry was exposed to pressure due to the pandemic, MPMX has already been able to achieve positive profits in the first nine months of 2020 considering the improvement in motorcycle sales in the last few months. In 2021, MPMX is projecting revenue growth of up to 15%.

PT Tower Bersama Infrastructure Tbk. recorded strong growth compared to 2019. The business was able to withstand the pressure of the COVID-19 pandemic due to long-term rental contracts that span an average of 10 years with telecommunication operators. TBIG also obtained a number of new contracts during 2020 and has exceeded its 2020 target by adding 3,319 new leases during the first nine months of 2020. Going forward, TBIG is projected to experience rapid growth from digital technology that drives the transformation of industry and society.

PT Famon Awal Bros Sedaya, has strengthened its quality by providing hospital services that prioritize center of excellence, equipment upgrades, and technological advancements that were fully supported by Saratoga both in terms of operations and business expansion. In 2020, FABS was successful in securing additional loans to support its business expansion plans which includes the inauguration of four new hospitals in 2021. The launch of the new hospitals demonstrates FABS’s commitment in developing a better healthcare system in Indonesia.

In April 2020, the change of the hospital name from Awal Bros to Primaya Hospital further underlined the commitment of Awal Bros Hospital Group in providing better service quality to all elements of society across Indonesia. Primaya Hospital represents a transformation and a new image for Awal Bros Hospital as a private hospital with international Joint Commission International (JCI) accreditation in Indonesia that provides international-standard health services.

Primaya Hospital also remained committed in its support to the government in dealing with the COVID-19 pandemic by providing special rooms for COVID-19 patients and providing rapid test drive-thru services.

PT Deltomed Laboratories, one of the biggest players in the herbal remedies industry, has succeeded in boosting Antangin’s sales in 2020. This increase in sales was driven by society’s rising health awareness and supported by the company’s strong operations and distribution.

To meet the needs of the public in improving their immune system, Deltomed Laboratories introduced its latest herbal medicine, Imugard, which contains extracts of Phyllanthus urinaria, Moringa leaves, and turmeric. This product is efficacious in maintaining immune system and has received license to circulate from the Indonesian Food and Drug Authority (BPOM).

***END***

About PT Saratoga Investama Sedaya, Tbk. 

Founded in 1998, 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 ones in special conditions with a emphasis on sectors that support economic growth in Indonesia such as consumers, infrastructure and natural resources.

Saratoga’s vision is to continue to be the leading active investment company and partner of choice for local and foreign investors looking to take part in the dynamics of Indonesia’s economic growth.

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

Or contact:

Contact:

General:                                                                                          Financials:

Corporate Secretary                                                                       Investor Relations

corporate.secretary@saratoga-investama.com                             investor.relations@saratoga-investama.com

Saratoga Remains Robust by Booking Stellar Performance in 2020

Jakarta, March 9, 2021 – PT Saratoga Investama Sedaya Tbk. (ticker code: SRTG) posted a solid performance in 2020. The company’s net profit increased by 20 percent to IDR 8.82 trillion. This was supported by an increase in the value of the investment portfolio, evidenced from the net asset value of Saratoga surging 39 percent to IDR 31.70 trillion at the end of 2020.

Saratoga President Director Michael Soeryadjaya remarked that the solid performance of Saratoga’s investee companies during the 2020 pandemic was the key to the company’s achievement. This was reflected in the increase in the value of Saratoga’s investments in a number of portfolio companies as well as consistent dividend payments.

“We are grateful that amid a difficult situation due to the COVID-19 pandemic, Saratoga has succeeded in sustaining its growth momentum and achieved a robust performance. As an investment company with long-standing experience in Indonesia, Saratoga prioritizes prudence by managing all risks involved and consistently implementing a diversification strategy. This approach has kept us strong amid uncertainty and allowed us to be responsive in addressing all the dynamic changes,” Michael said in Jakarta, Tuesday (9/3).

Throughout 2020, Saratoga directed its focus in developing corporate strategies to maintain operational resilience during the pandemic, both for the parent company and its investee companies. By the end of 2020, this target of operational resilience has proved to be achievable.

In 2020, Saratoga’s investment value in PT Merdeka Copper Gold Tbk. (ticker code: MDKA) rose 120 percent to IDR 10.18 trillion and the investment value in PT Tower Bersama Infrastructure Tbk. (ticker code: TBIG) increased by 56 percent to IDR 12.64 trillion. Saratoga also managed to book a total dividend income of IDR 750 billion in 2020, which was mainly contributed by PT Adaro Energy Tbk. (ticker code: ADRO) at IDR 215 billion, PT Tower Bersama Infrastruktur Tbk. (ticker code: TBIG) at IDR 214 billion, PT Mitra Pinasthika Mustika Tbk. (ticker code: MPMX) at IDR 210 billion and PT Provident Agro Tbk. (ticker code: PALM) at IDR 105 billion.

Michael added that Saratoga will continue to seek new investment opportunities and support the government’s efforts to accelerate economic recovery from the impact of COVID-19 pandemic. “We hope that the current vaccination program can swiftly break the COVID-19 chain of transmission and put this pandemic to a stop. Saratoga will continue to actively implement its strategy to ensure that the growth of the company will be even more optimal after the pandemic ends,” he added.

Saratoga Investment Director Devin Wirawan explained that a number of Saratoga’s investee companies found their business growth momentum during the pandemic. He described that MDKA’s performance continued to strengthen thanks to the steep increase in gold and copper price in 2020. Amid economic uncertainty due to the COVID-19 pandemic, gold is a “safe haven” commodity which will remain as the most sought-after investment
instrument in the world. This opportunity will further strengthen MDKA’s fundamentals going forward.

Devin continued, society’s increasingly rapid adoption of the online digital ecosystems has provided greater opportunities for PT Tower Bersama Infrastruktur Tbk. as a provider of telecommunication infrastructure services. Meanwhile, in the consumer sector, PT Deltomed, which produces herbal medicines, has succeeded in optimizing the strong public demand for health products during this pandemic. PT Famon Awal Bros Sedaya, our hospital group, also continued to support the government’s efforts in controlling the pandemic 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 investee companies to grow and optimize every available opportunity. In a situation that remains highly dynamic and challenging, Saratoga’s cost ratio to net asset value, which is still low at around 1 percent, will help the company’s performance to remain solid,” Devin said.

Investee Companies’ Performance

PT Adaro Energy Tbk. ADRO coal production reached 54.53 million tons and coal sales volume reached 54.14 million tons in 2020. Adaro is seeing some signs of rebalancing in the coal market thanks to the discipline with supplies. The company remains optimistic about the industry’s long-term fundamentals. In facing short-term challenges, the company is focusing on preserving cash, strengthening its capital structure and financial position, staying on the existing path, continuing to execute strategies to ensure business sustainability, as well as making contributions to national development.

PT Merdeka Copper Gold Tbk. Increase in gold and copper commodity prices during 2020 has provided a momentum to strengthen the company’s business fundamentals. In 2021, MDKA targets a total gold production of 100,000 – 120,000 tons and copper of 14,000 – 17,000 tons and remains focused on developing the Tujuh Bukit Copper project, which experienced positive progress in 2020. In addition, MDKA has also signed a memorandum of understanding (MOU) with Eternal Tsingshan Group Limited (Tsingshan) to develop a copper ore processing project at the Wetar mine. This partnership is expected to commence commercial production within two years and become a long-term multi-commodity asset for MDKA.

PT Mitra Pinasthika Mustika Tbk. Even though the automotive industry was exposed to pressure due to the pandemic, MPMX has already been able to achieve positive profits in the first nine months of 2020 considering the improvement in motorcycle sales in the last few months. In 2021, MPMX is projecting revenue growth of up to 15%.

PT Tower Bersama Infrastructure Tbk. recorded strong growth compared to 2019. The business was able to withstand the pressure of the COVID-19 pandemic due to long-term rental contracts that span an average of 10 years with telecommunication operators. TBIG also obtained a number of new contracts during 2020 and has exceeded its 2020 target by adding 3,319 new leases during the first nine months of 2020. Going forward, TBIG is projected to experience rapid growth from digital technology that drives the transformation of industry and society.

PT Famon Awal Bros Sedaya, has strengthened its quality by providing hospital services that prioritize center of excellence, equipment upgrades, and technological advancements that were fully supported by Saratoga both in terms of operations and business expansion. In 2020,
FABS was successful in securing additional loans to support its business expansion plans which includes the inauguration of four new hospitals in 2021. The launch of the new hospitals demonstrates FABS’s commitment in developing a better healthcare system in Indonesia.

In April 2020, the change of the hospital name from Awal Bros to Primaya Hospital further underlined the commitment of Awal Bros Hospital Group in providing better service quality to all elements of society across Indonesia. Primaya Hospital represents a transformation and a new image for Awal Bros Hospital as a private hospital with international Joint Commission International (JCI) accreditation in Indonesia that provides international-standard health services.

Primaya Hospital also remained committed in its support to the government in dealing with the COVID-19 pandemic by providing special rooms for COVID-19 patients and providing rapid test drive-thru services.

PT Deltomed Laboratories, one of the biggest players in the herbal remedies industry, has succeeded in boosting Antangin’s sales in 2020. This increase in sales was driven by society’s rising health awareness and supported by the company’s strong operations and distribution.

To meet the needs of the public in improving their immune system, Deltomed Laboratories introduced its latest herbal medicine, Imugard, which contains extracts of Phyllanthus urinaria, Moringa leaves, and turmeric. This product is efficacious in maintaining immune system and has received license to circulate from the Indonesian Food and Drug Authority (BPOM).

***END***

About PT Saratoga Investama Sedaya, Tbk.

Founded in 1998, 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 stages and growth, and in special conditions with a focus on sectors that support 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 become the partner of choice for local and foreign investors looking to participate in the dynamics of Indonesia’s economic growth.

For further information please visit: www.saratoga-investama.com.

Or contact:

General:
Corporate Secretary
corporate.secretary@saratoga-investama.com

Financials:
Investor Relations
investor.relations@saratoga-investama.com

Saratoga 2020 AGMS Announces Positive Results through Dividend Distribution to Sustain Commitment to Shareholders

Jakarta, June 17, 2020 – PT Saratoga Investama Sedaya Tbk. (Saratoga, ticker code: SRTG) announced during its Annual General Meeting of Shareholders (AGMS) today, dividend distribution with a total amount of IDR 149.2 billion or IDR 55 per share.

Saratoga’s President Director Michael W.P. Soeryadjaya stated that Saratoga demonstrated significant growth in 2019 and the company’s decision to distribute dividend is part of Saratoga’s long-term commitment to consistently provide optimal return for shareholders.

“We will continue to focus on strengthening the fundamental of our investee companies through a disciplined and measured investment strategy. In a dynamic and challenging environment like today, Saratoga will remain vigilant yet agile and opportunistic in seizing investment opportunities,” Michael said after the AGMS in Jakarta, Wednesday (17/06).

As of 2019, Saratoga’s Net Asset Value reached IDR 22.85 trillion, an increase of 44.9 percent compared to 2018 of IDR 15.77 trillion. The increase in investment value in shares and equity securities was mainly driven by the increase in mark-to-market share prices of PT Adaro Energy Tbk. (ticker code: ADRO), PT Tower Bersama Infrastructure Tbk. (ticker code: TBIG) and PT Merdeka Copper Gold Tbk (Ticker code: MDKA). Thanks to the solid fundamentals of its investee companies, in 2019, Saratoga’s net profit from investment and other equity securities was IDR 6.22 trillion. While dividend and interest income amounted to IDR 2.01 trillion.

Saratoga’s Finance Director, Lany D. Wong explained that in 2019, Saratoga posted an all-time record high dividend income of IDR 1.99 trillion. Dividend income increased by 121.5 percent from 2018 of IDR 900 billion, largely attributable to PT Mitra Pinasthika Mustika Tbk (ticker code: MPMX), PT Adaro Energy Tbk. (ticker code: ADRO), PT Tower Bersama Infrastructure Tbk (ticker code: TBIG) and other investee companies.

“As an active investment company, Saratoga will continue to seize investment opportunities in our three key sectors— natural resources, infrastructure and consumer. We are committed to continuously work on optimizing the value of our investee companies and contribute to the Indonesian economy,” Lany explained.

***END***

About PT Saratoga Investama Sedaya, Tbk.

Founded in 1998, 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 stages and growth, and in special conditions with a focus on sectors that support 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 become the partner of choice for local and foreign investors looking to participate in the dynamics of Indonesia’s economic growth.

For further information please visit: www.saratoga-investama.com.

Or contact:

General:
Corporate Secretary
corporate.secretary@saratoga-investama.com

Financials:
Investor Relations
investor.relations@saratoga-investama.com

Saratoga Delivers Strong Results in 2019, Driven by the Performance of the Diversified Investment Portfolio

Jakarta, March 16, 2020 – PT Saratoga Investama Sedaya Tbk. (Saratoga, ticker code: SRTG) posted a net profit of Rp 7.3 trillion in 2019. The significant increase of the net profit was driven by an increase in investment value and dividend income of Saratoga’s investee companies. During this period the Net Asset Value of Saratoga’s portfolio reached Rp 22.85 trillion, up 44.9 percent, from Rp 15.77 trillion in 2018.

In 2019, investment in shares and other equity securities recorded a net profit of Rp 6.2 trillion. This was mainly driven by an increase in mark-to-market share prices of PT. Tower Bersama Infrastructure Tbk. (ticker code: TBIG), PT Adaro Energy Tbk. (ticker code: ADRO) and PT Merdeka Copper Gold Tbk. (ticker code: MDKA).

Saratoga also managed to record a dividend income of Rp 1.99 trillion, an increase of 121.5 percent from 2018 of Rp 900 billion. The dividend income is the highest since Saratoga became a publicly listed company. The dividend income is attributable to PT Tower Bersama Infrastructure Tbk, PT Adaro Energy Tbk and largely PT Mitra Pinasthika Mustika Tbk (ticker code: MPMX).

Saratoga’s President Director, Michael Soeryadjaya, explained, “We are thankful for our achievements in 2019. The strong performance of the investee companies was supported by the solid business fundamentals. As a shareholder to our existing investee companies, our job is to continue to engage and support them in reaching their maximum potential. In addition, as an active investment company, Saratoga believes in the long-term potential of the three main sectors: natural resources, infrastructure and consumer and will continue to actively invest in these areas as we always have.”

In terms of the business outlook in 2020, Michael mentioned, “In the midst of various global and domestic challenges, Saratoga will continue to carry out active investment strategies in a disciplined, measurable and prudent manner. We believe that with Saratoga’s experience and expertise, the company’s investment value will continue to see optimal growth”.

Selective Investee Company Performance Highlights

PT Merdeka Copper Gold Tbk (ticker code: MDKA) experienced rapid growth as a copper and gold mining company in 2019. Gold production grew 33.2 percent from 167,506 ounces in 2018 to 223,045 ounces in 2019. The porphyry exploration project in Tujuh Bukit, MDKA’s flagship assets, continues to make great progress as the Pre-Feasibility Study advanced with further strong results from underground drilling.

PT Mulia Bosco Logistik (MBL) has expanded its capacity in both the truck and storage fleets. In 2019 MBL added an additional warehouse in Makassar, South Sulawesi and more trucks to its fleet. Saratoga has been actively working with management in financial and business development, as well as operational and risk management improvements.

PT Mitra Pinasthika Mustika Tbk (ticker code: MPMX) experienced robust growth, making the company the largest contributor to Saratoga’s dividend income in 2019. In the first quarter of 2019, Saratoga increased the ownership of MPMX by launching a voluntary tender offer. As a result, Saratoga has become the majority shareholder.

PT Famon Awal Bros Sedaya (FABS), a private hospital with international accreditation, Joint Commission International (JCI) in Indonesia, is on a mission to provide international standard health services. In 2019, the FABS launched a new hospital in North Bekasi and began operating another hospital in Sorowako, South Sulawesi. In addition, FABS continues to strengthen its operation by setting up a center of excellence, which aims to provide more maintenance, upgraded equipment, and improved technology, with the full support of Saratoga behind its operations and business expansion.

This month FABS will launch a new hospital in Karawang, West Java. This hospital will be the ninth hospital under the FABS auspices.

PT Deltomed Laboratories, one of the major players in the herbal medicine industry, has increased its production capacity and product range such as wider variants of OB Herbal, Tejahe and Kojima in 2019. In addition, it has also launched Kuldon granule, a supplement that helps reduce body heat and Herbamojo, a male-specific product with seven herbal extracts that can boost stamina, energy, immunity, and blood circulation.

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.

Or contact:

General:
Corporate Secretary
corporate.secretary@saratoga-investama.com
Financials:
Investor Relations
investor.relations@saratoga-investama.com

Saratoga Enjoys Robust Performance, Supported by Strengthening of Investee Company Positive Performance

Jakarta, 30 July 2019 – In the first semester of 2019, PT Saratoga Investama Sedaya Tbk. (ticker code: SRTG) continues to prove the resilience of its investee companies performance. Even the share performance of its investee companies such as PT Adaro Energy Tbk. (ticker code: ADRO), PT Merdeka Copper Gold Tbk. (ticker code: MDKA) and PT Tower Bersama Infrastructure Tbk. (ticker code: TBIG) surpassed the growth of the IDX stock index.

Saratoga President Director Michael W.P. Soeryadjaya said that the strengthening of the shares of investee companies in the first semester of 2019 proved that Saratoga’s investment portfolio has very positive fundamentals and long-term business prospects.

“We are grateful that Saratoga’s performance during the first semester of 2019 continued to show promising growth. A disciplined investment strategy which is focused on the driving sectors of Indonesia’s economic growth is the key to Saratoga’s increasingly solid performance,” Michael explained in Jakarta, (30/07)

Thanks to the increase in the stock prices of the investee companies, as of Q1 of 2019 Saratoga succeeded in booking a net profit on its IDR 2,004 trillion investment. This value was based on the mark-to-market calculation.

By the end of June 2019 Saratoga recorded a dividend income of IDR1,605 trillion with a net profit of IDR3.170 trillion. Saratoga’s investment focuses on three main sectors, i.e. natural resources, infrastructure and consumer which includes more than 20 companies with a prudent risk management at all levels of the portfolio.

Saratoga Investment Director Devin Wirawan explained, as an active investment company, Saratoga will continue to take the initiative to expand its investment portfolios, both in new investment projects and companies that have entered the growth phase.

Some of the strategic plans that Saratoga will carry out include supporting the funding process of MDKA to proceed with the gold and mineral mine development in Banyuwangi. The financing is accomplished through the issuance of 215 million new shares (non-pre-emptive rights) at Rp 3,980 per share which has been completed on July 18, 2019.

In the consumer sector, Saratoga will also continue to support the expansion of PT Famon Awal Bros Sedaya (FABS), Awal Bros Hospital Group. This week FABS will launch a new hospital in North Bekasi. This hospital will be the eighth hospital under the FABS auspices.

“We also want to support government programs in providing international-standard public health services. Awal Bros Hospital is a group of private hospitals with the highest international accreditation, Joint Commission International (JCI) in Indonesia,” Devin explained.

Michael also expressed his optimism about the long-term prospects of the national economy. After the general elections are winding down, the investment climate and the Indonesian economy will continue to grow. “This is an opportunity for Saratoga to take investment initiatives in a disciplined, astute manner and support national economic growth,” Michael said.

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.

Or contact:

General:
Corporate Secretary
corporate.secretary@saratoga-investama.com
Financials:
Investor Relations
investor.relations@saratoga-investama.com

Saratoga Announced Positive AGMS Result With Increased Dividend Distribution and Additional Member of Management

Jakarta, 22 May 2019 – PT Saratoga Investama Sedaya Tbk. (Saratoga, ticker code: SRTG) announced during its Annual General Meeting of Shareholders (AGMS) today with increased dividend distribution and the appointment of an additional member to the Board of Directors.

A total amount of IDR 298.4 billion was approved for distribution. The amount represents IDR 110 per share or 2.9% dividend yield (as of closing price of 21 May 2019) and 48.6% growth compared to the previous year dividend amount.

Saratoga President Director, Michael W.P. Soeryajaya stated that the decision to pay out dividend is part of Saratoga’s commitment to provide optimal return for shareholders. Saratoga is set to continue to strengthen its investee companies’ fundamentals through a disciplined and measured business strategy in Saratoga’s three businesses in natural resources, consumer and infrastructure sectors.

The shareholders have also approved the appointment of Devin Wirawan as Saratoga’s Investment Director. “We welcome Devin as a board member. The appointment of the Investment Director is to strengthen the board, particularly in investment, monetization and deal-sourcing aspects.” said Michael after the AGMS in Jakarta, Wednesday (22/05)

The Company’s Board of Directors following today’s meeting is:

President Director:Michael W.P. Soeryadjaya
Portfolio Director:Andi Esfandiari
Finance Director:Lany Djuwita Wong
Investment Director:Devin Wirawan

Saratoga Finance Director, Lany D. Wong said that in 2018, Saratoga posted a record dividend income of Rp 900 billion attributable to PT Adaro Energy Tbk. (ADRO), PT Tower Bersama Infrastructure Tbk. (TBIG), and PT Provident Agro Tbk (PALM), and other investee companies.

“Going forward, Saratoga will continue its active investment by assessing the potential opportunities in the three sectors. We are looking for target companies that are riding on the growth trajectory of Indonesian economy, such as consumer goods and services, social infrastructure, technology sector and etc. These emerging sectors will be shaping up the next wave of our economic growth and it is our job to stay ahead of the curve, identify the winners of the sectors and help them to grow,” Lany concluded.

— END —

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.

Or contact:

General:
Corporate Secretary
corporate.secretary@saratoga-investama.com
Financials:
Investor Relations
investor.relations@saratoga-investama.com

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
(29/4).

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.

Or contact:

General:
Corporate Secretary
corporate.secretary@saratoga-investama.com
Financials:
Investor Relations
investor.relations@saratoga-investama.com