Jakarta, 4 August 2016 – In the first half of 2016, PT Saratoga Investama Sedaya Tbk. (IDX Ticker: SRTG) enjoyed a 26% growth in investment portfolio from IDR 13.6 trillion on 31 December 2015 to IDR 17.1 trillion on 30 June 2016. The growth is mainly generated from higher market value of the Company’s investments in natural resources and supported by the strong performance sustained by investee companies in infrastructure and consumer sectors.

Starting from the first half of 2016, PT Saratoga Investama Sedaya Tbk. applies “PSAK 65: Exemption on the Consolidation” in reporting its financial performance. The new PSAK 65 allows Saratoga to apply fair valuation on its investment assets. As the change is applied prospectively, the company’s financial reports of 2016 cannot be compared with the financial reports of 2015.

Saratoga President Director Michael W.P. Soeryadjayaexplained that the fund accounting methodology provides a clearer representation on Saratoga’s performance as an active investment company in line with its effective business model of investing, growing and monetizing.

Saratoga Finance Director Jerry Ngo remarked that the change in the presentation of financial reporting was thoughtfully made to deliver clearer financial reports to facilitate shareholders, creditors, and other capital market professionals in assessing our Company’s performance and making a fair investment decision in the company.

With the new accounting presentation, Saratoga booked IDR 4.8 trillion profit attributable to shareholders, which includes one-off gain of IDR 2.2 trillion as a result of financial reporting presentation change and IDR 2.6 trillion contributed mostly by the increase in market value of Saratoga’s investment in Adaro Energy and Tower Bersama

Michael added that Saratoga has continued its disciplined approach in seizing investment opportunities. Earlier this year, Saratoga entered cold-chain logistics by acquiring a stake in PT Mulia Bosco Logistik (MGM Bosco). The deal gives an excellent opportunity for Saratoga to build a platform in the high-growth cold chain logistic sector, an interesting sector which aligns with the increasing demand of vital logistics infrastructure in the country.

Moreover, Saratoga is able to deliver full cycle of its business model (Invest-Grow-Monetize) through its recent divestment in PT Pulau Seroja Jaya at IDR 98 billion, generating an internal rate of return of 48 percent over 8 years. As part of its commitment to shareholders, Saratoga distributed dividend this year – the first since its IPO in 2013.

“Saratoga’s investment growth has proven that our investment strategy and business model have been successful in creating value for our investee companies. We believe that this strategy will strengthen Saratoga’s businesses, allowing it to grow its investment portfolio optimally and sustainably, making more significant contributions to the Indonesian economy,” he said.

Highlights of Investee Companies Performance

In the natural resources sector, PT Adaro Energy Tbk. (IDX ticker: ADRO) through PT Bhimasena Power Indonesia (BPI) achieved financial closing in June 2016 for its 2×1,000 MW power project in Batang Regency, Central Java.

Furthermore, Adaro through its subsidiary also signed a Share Sale Agreement with BHP Minerals Holdings Pty. Ltd. and BHP Minerals Asia Pacific Pty. Ltd. for the purchase and takeover of all shares in the Indomet Coal project, consisting of seven Coal Mining Business Work Agreements (PKP2B) in Central Kalimantan, for an overall transaction value of USD 120 million.

These achievements bring Adaro closer to its vision to be a leading Indonesian mining and energy group.

In the infrastructure sector, PT Lintas Marga Sedaya (LMS), the concession holder of 116.75-km Cikopo-Palimanan (Cipali) toll road saw an increase in traffic. During the 2016 Eid al-Fitr homecoming season, the total number of vehicles traveling through the Cipali Toll – both those that exited at the Palimanan toll gate (Cirebon-bound) and those that entered through the Palimanan toll gate (Jakarta-bound) on D-Day- 7 through D-Day + 7 (June 29 – July 14, 2016) – was recorded at more than a million vehicles.

In the first half of 2016, PT Triwahana Universal (TWU) stopped its production and discontinued procuring crude oil supply due to on-going discussion and clarification on the well-mouth crude oil purchase price formula with related parties. On 23 June 2016, the Minister of Oil & Gas issued a Decree No. 168.K/12/DJM.B/2016 that determined temporary crude oil price, which will be applied temporarily until further issuance of permanent regulation on crude oil price for mini refinery. As of the end of July 2016, the agreement on crude oil delivery for TWU is still being processed.

In the consumer sector, PT Mitra Pinasthika Mustika Tbk. (IDX ticker: MPMX), a leading consumer automotive company in Indonesia, continues to strengthen its business fundamentals, improve operational efficiency and employ strategic initiatives to increase competitiveness. As a result, MPMX booked 9 percent revenue growth to IDR 8.9 trillion in the first semester of 2016 compared to the same period last year. The Company also managed to book Net Profits Attributable to the Parent (NPATMI) of IDR 180 billion in the same period of 2016.

As part of its commitment to shareholders, MPMX paid out IDR 75.9 billion cash dividends, or 2.5 times greater than previous year. The dividends made up 26.6 percent of the profits attributable to owners of the parent companies.

***END***

Informasi Tambahan

Seperti telah disebutkan di atas, laporan keuangan Perseroan Semester I 2016 yang menggunakan metode nilai wajar tidak dapat dibandingkan dengan laporan keuangan tahun lalu. Seandainya Saratoga tetap menerapkan metode lama dalam menyampaikan laporan keuangannya, maka kinerja keuangan pada periode ini adalah sebagai berikut:

(Rp Miliar)	1H 2016	1H 2015	Perubahan
Pendapatan Neto	280	2,302	-88%
Beban Pokok Pendapatan	(277)	(1,804)	-85%
Laba Bruto	3	498	-99%
Beban Usaha	(96)	(129)	-25%
Pendapatan Non-Operasional	476	1,292	-63%
Laba Sebelum Pajak	383	1,662	-77%
Beban Pajak Penghasilan	(12)	(102)	-88%
Laba Periode Berjalan	371	1,560	-76%
Penghasilan Komprehensif Lain	682	(733)	-193%
Jumlah Penghasilan Komprehensif Periode Berjalan	1,053	827	27%
Laba yang Diatribusikan kepada:
Pemilik Perusahaan	392	1,191	-67%
Kepentingan Non-Pengendali	(21)	368	-106%
	371	1,560	-76%
Jumlah Penghasilan Komprehensif yang Diatribusikan kepada:
Pemilik Perusahaan	1,094	460	138%
Kepentingan Non-Pengendali	(41)	367	-111%
	1,052	827	27%

• Pendapatan Neto turun 88%, terutama dikarenakan penghentian produksi TWU sebagai akibat belum adanya kesepakatan atas formula harga beli minyak mentah di mulut sumur dengan pihak-pihak terkait.
• Pendapatan Non-Operasional turun 63%, terutama disebabkan oleh keuntungan one-off dari pencatatan MDKA di BEI yang terjadi di tahun lalu.
• Saratoga menghasilkan laba yang diatribusikan kepada pemilik perusahaan sebesar Rp 369 miliar pada semester ini dibandingkan dengan Rp 1,191 miliar untuk periode yang sama tahun lalu.

Jakarta, 15 Juni 2016 – Rapat Umum Pemegang Saham Tahunan (RUPST) PT Saratoga Investama Sedaya Tbk. (kode saham IDX: SRTG) hari ini memutuskan untuk membagikan dividen sebesar Rp32 per lembar saham atau 9,4% dari laba yang diatribusikan kepada pemilik perusahaan tahun buku 2015. Pembagian dividen ini merupakan yang pertama kali sejak IPO Saratoga dilaksanakan pada tahun 2013.

Presiden Direktur Saratoga, Michael W.P.Soeryadjaya menjelaskan bahwa keputusan RUPS untuk membagikan dividen – di tengah kondisi ekonomi yang masih penuh tantangan – merefleksikan komitmen Perusahaan dalam memberikan nilai optimal kepada pemegang saham. “Dukungan pemegang saham merupakan sumber kekuatan utama bagi pertumbuhan bisnis Perusahaan secara jangka panjang dan berkelanjutan.”

Salah satu transaksi yang membuktikan kemampuan solid Saratoga dalam menciptakan nilai (value creation) adalah divestasi kepemilikan saham Saratoga di PT Pulau Seroja Jaya senilai Rp98 miliar yang menghasilkan Internal Rate of Return (IRR) sebesar 48% dalam periode 8 tahun.

“Aktivitas investasi dan divestasi kami dilakukan untuk menciptakan nilai dan mendorong pertumbuhan perusahaan investasi kami, sehingga dapat meningkatkan nilai strategis dan keuntungan finansial bagi para pemegang saham,” kata Michael usai Rapat Umum Pemegang Saham Tahunan (RUPST) di Jakarta, Rabu (15/06).

Selama delapan tahun terakhir, Saratoga telah sukses mengelola investasinya (recycled capital) dengan Nilai Aktiva Bersih (NAB) yang tumbuh dari Rp1,3 triliun di 2008 menjadi Rp13,3 triliun pada 2015, menghasilkan 33,5% Compound Annual Growth Rate (CAGR). Hingga Kuartal I 2016, Saratoga mencatatkan Nilai Aktiva Bersih (NAB) sebesar Rp14,8 triliun dari 22 perusahaan investasi dengan total karyawan sebanyak 40 ribu orang. Nilai Aktiva Bersih tersebut dihitung secara konservatif berdasarkan nilai pasar (market value) dari perusahaan investasi yang sahamnya tercatat di bursa dan nilai buku (book value) dari perusahaan investasi non-publik.

Pada tahun 2015, total investasi perusahaan mencapai Rp649 miliar, dimana sebesar Rp304 miliar merupakan investasi pada peluang baru, sementara sisanya digunakan untuk investasi pada portofolio perusahaan yang sudah ada.

Strategi investasi yang disiplin dan penuh kehati-hatian ini juga tercermin dalam proses seleksi peluang investasi. Sebagai contoh, di tahun 2015 Saratoga berhasil mengidentifikasi sekitar 101 peluang investasi. Dari total peluang investasi tersebut, hanya 2 yang lolos dari proses seleksi ketat manajemen Saratoga.

Investasi baru yang lolos seleksi tersebut adalah PT Agra Energi Indonesia dan akuisisi saham PT Batu Hitam Perkasa, pemegang saham Paiton Energy, salah satu IPP terbesar di Indonesia dengan kapasitas pembangkit listrik 2 GW.

Direktur Keuangan Saratoga, Jerry Ngo menjelaskan di kuartal I 2016, Saratoga berinvestasi di sektor rantai pasokan logistik dengan temperatur tertentu (cold-chain logistics) dengan mengakuisisi saham PT Mulia Bosco Logistik (MGM Bosco). “Transaksi tersebut memberikan peluang yang sangat baik bagi Saratoga dalam membangun platform pertumbuhan yang lebih kuat di sektor cold-chain logistics,” kata Jerry.

Di bulan Mei 2016 ini, Saratoga mengambil kesempatan untuk mengurangi utang dengan cara melakukan pembelian kembali Exchangeable Bonds yang dikeluarkan oleh salah satu perusahaan investasi Perseroan, yaitu Delta Investment Horizon Ltd. (“Delta”), sebesar USD17,3 juta. Pembelian kembali ini diikuti dengan pembatalan surat utang dari seluruh EB yang telah dibeli kembali tersebut. Sehingga, jumlah pokok Guaranteed Exchangeable Bonds yang masih terhutang telah berkurang dari total USD100 juta menjadi USD82,7 juta.

Keputusan manajemen membeli kembali EB ini memberikan dampak positif kepada arus kas Perseroan sebesar USD2,7 juta serta juga mengurangi jumlah utang Perseroan. “Inisiatif tersebut mengafirmasi bahwa model bisnis investasi aktif Saratoga terbukti efektif dalam memonetisasi dari dan berinvestasi untuk perusahaan-perusahaan investasinya,” jelas Jerry.

Selain itu, RUPST Saratoga juga memutuskan bahwa pada pertengahan tahun 2016, Saratoga akan mulai menerapkan laporan keuangan berdasarkan Pernyataan Standar Akuntansi Keuangan (PSAK) 65 – Pengecualian Konsolidasian, yang mulai berlaku efektif 1 Januari 2015. Perubahan pelaporan keuangan ini bertujuan untuk memberikan gambaran yang lebih baik akan kinerja keuangan Perseroan untuk para pemegang saham, kreditur dan para pelaku pasar modal dapat mengambil keputusan investasi yang tepat.

“Penerapan PSAK 65 diharapkan dapat memberikan gambaran yang lebih jelas dan akurat akan kinerja Perseroan yang merefleksikan model bisnis Saratoga yang efektif dalam melakukan investasi, mendorong pertumbuhan serta memonetisasi peluang dari dan bagi perusahaan-perusahaan investasinya,” ujar Jerry.

Kinerja Perusahaan Investasi

Saratoga secara aktif memperkuat portofolio investasinya untuk memastikan pertumbuhan bisnis yang berkelanjutan dalam jangka panjang.

Sektor Sumber Daya Alam

PT Adaro Energy Tbk. (kode saham IDX: ADRO), melalui anak usahanya PT Bhimasena Power Indonesia (BPI), pada 6 Juni 2016 lau telah mencapai kesepakatan pembiayaan (financial close) untuk proyek pembangkit listrik 2×1000 MW di Kabupaten Batang, Jawa Tengah. Setelah mendapatkan kesepakatan pembiayaan ini, pembangunan pembangkit listrik akan dimulai dengan target operasional dapat dilakukan secara komersil di 2020. Total investasi untuk proyek ini adalah USD4,2 miliar.

Pada awal bulan Juni 2016 ini, PT Adaro Energy Tbk. melalui anak perusahaannya juga telah melakukan penandatanganan Share Sale Agreement (SSA) dengan BHP Minerals Holdings Pty. Ltd. dan BHP Minerals Asia Pasific Pty. Ltd. untuk pembelian dan pengambilalihan atas seluruh saham proyek Indomet Coal, yang terdiri dari 7 Pemegang perjanjian Karya Pengusahaan Pertambangan Batubara (PKP2B) di Kalimantan Tengah dan Kalimantan Timur dengan nilai transaksi keseluruhan USD120 juta.

PT Merdeka Copper Gold Tbk (kode saham IDX: MDKA) menargetkan untuk dapat mulai produksi emas dari tambang Tujuh Bukit di Banyuwangi di akhir Kuartal IV-2016. Produksi emas dan perak di lokasi tambang ini masing-masing sekitar 90.000 oz dan 300.000 oz per tahun selama 9 (sembilan) tahun awal umur tambang. Untuk mendukung pembangunan fasilitas produksi proyek tambang emas Tujuh Bukit, Merdeka telah berhasil mengamankan kebutuhan belanja modal dari berbagai sumber pendanaan.

Sumatra Copper & Gold (kode saham ASX: SUM), telah memulai produksi emasnya di proyek Tembang pada 2015 lalu. SUM adalah produsen emas yang terdaftar di ASX dengan proyek-proyek yang tersebar di beberapa lokasi di Sumatera.

Sektor Infrastruktur

PT Lintas Marga Sedaya (LMS) berhasil menyelesaikan dan secara komersil memulai operasi jalan tol Cikopo – Palimanan (Cipali) sepanjang 116,75 KM yang merupakan bagian dari jaringan ruas tol Trans Jawa. Jalan tol yang diresmikan oleh Presiden Joko Widodo pada Juni 2015 lalu, melintasi lima kabupaten di Jawa Barat diantaranya Purwakarta, Subang, Majalengka, Indramayu, dan Cirebon. Jalan tol Cipali mampu memangkas waktu tempuh selama 1,5–2 jam dengan jarak 40 km lebih pendek dibandingkan melewati jalur Pantura. Keberadaan tol Cipali diharapkan dapat mendorong mobilitas orang dan logistik yang akan menciptakan multiplier effect dari sisi pertumbuhan ekonomi di berbagai daerah terutama yang dilintasi dan dihubungkan oleh jalan tol tersebut.

Bisnis Saratoga di sektor infrastruktur yang saat ini sedang menghadapi tantangan adalah PT Tri Wahana Universal (TWU). Kilang mini di wilayah Bojonegoro, Jawa Timur ini sedang berhenti berproduksi walaupun masih tetap menjalankan kegiatan operasional termasuk penjualan, distribusi dan penagihan. Penyebab berhentinya produksi kilang mini TWU tersebut karena belum adanya regulasi yang mengatur formula harga pasokan minyak mentah di mulut sumur. Regulasi tersebut teramat penting bagi keberlangsungan kontrak pasokan minyak mentah ke TWU.

Sebagai kilang minyak nasional swasta pertama di Indonesia yang telah berproduksi selama lebih dari lima tahun, kilang mini TWU telah memberikan kontribusi positif dan multiplier effect bagi perekonomian lokal dan pertumbuhan sosial, termasuk kesempatan kerja dan peningkatan pendapatan masyarakat Bojonegoro dan Jawa Timur.

Sektor Konsumer

PT Mitra Pinasthika Mustika Tbk. (kode saham IDX: MPMX), perusahaan konsumer otomotif nasional, dalam RUPS-nya telah menetapkan peningkatan pembagian dividen sebesar 2,5 kali lipat, yaitu dari Rp30,5 miliar di tahun sebelumnya menjadi Rp75,9 miliar atau sebesar Rp17,- per lembar saham. Jumlah ini merupakan 26,6% dari laba yang dapat diatribusikan kepada pemilik entitas induk pada 2015.

Jakarta, March 31, 2016 – PT Saratoga Investama Sedaya, Tbk. (IDX: SRTG) continued to receive more than one-hundred investment opportunities throughout 2015. Armed with measured and prudent strategies, Saratoga was able to book a net profit attributable to shareholders of IDR 923 billion, a 48% increase from last year. The profit growth was mainly driven by the realization of investment value to the amount of IDR 1.1 trillion in PT Merdeka Copper Gold Tbk., which in 2015 became a listed company on the IDX.

The low commodity prices and the dynamics in domestic economy throughout 2015 reduced net share profit from investee companies booked under equity method from IDR 764 billion to IDR 477 billion. The company also suffered from foreign exchange losses of IDR 272 billion and an increase in interest costs of IDR 91 billion.

Saratoga’s President Director, Michael W. P. Soeryadjaya said that macroeconomic conditions inevitably affected investee companies’ businesses, but with the right diversification strategy, experienced and solid management, supported by strong business fundamentals, Saratoga was able to overcome the headwinds and identified attractive investment opportunities.

New Investments

“Investment decisions made in 2015 went through a highly detailed and selective process. We are optimistic that the investments will strengthen Saratoga’s portfolio, create synergy, and allow us to maintain sustainable business growth,” Michael explained (31/03).

Michael added that Saratoga is aggressively seeking new investment opportunities whilst always maintaining the strict level of discipline that has shaped the firm. In 2015, we received more than 100 investment proposals, 39 of which made it to due dilligence stage, and we finally decided on 3 new investments valued at IDR 300 billion.

Share acquisition of PT Agra Energi Indonesia allows Saratoga to efficiently enter into early-stage oil and gas exploration business. The company mainly focuses on oil and gas assets and deep sea explorations in Eastern Indonesia.

Through share acquisition of PT Batu Hitam Perkasa, Saratoga entered an ownership in Paiton Energy, one of Indonesia’s largest IPP. Paiton Energy operates two power plants: Unit 7/8 and Unit 3 with total generating capacity of 2,035 MW, which are part of the 4GW Paiton Power Station supplying electricity to the Java-Bali power grid.

The third investment was into Heyokha, an investment fund that enables Saratoga to expand into investing in public equities and smaller PE opportunities.

In order to support investment activities, Saratoga successfully issued USD 100 million Exchangeable Bond (EB) at 3% fixed rate per annum maturing in year 5 with put option at year 3. This transaction marks a milestone as it is the first time that an Indonesian company tapped into the equity-linked bond market since 2010. The EB issuance not only reflects Saratoga’s ability to tap diverse funding sources whilst managing a cost effective funding, it also reflects Saratoga’s strategic initiative to monetize and fund its investments, a key part of our active investment operating model.

Saratoga’s Finance Director, Jerry Ngo added that source of cash throughout 2015 also originated from four investee companies, i.e. Adaro, MPM, TWU, and NRC in the form of dividend income totaling IDR 191 billion.

Highlights of Performance of Investee Companies

Consumer Sector

PT Mitra Pinasthika Mustika Tbk. (IDX: MPMX), an integrated automotive consumer company posted a consolidated revenue of IDR 16.6 trillion in 2015, 4.4% increase compared to last year. The revenue growth was propped by the distribution & retail and auto spare parts segments which contributed 86% to the group’s revenue as well as the company’s focus to increase positive cash flow growth.

Infrastructure Sector

PT Tower Bersama Infrastructure Tbk. (IDX: TBIG) successfully booked full-year revenue and EBITDA of IDR 3.4 trillion and IDR 2.9 trillion in 2015. TBIG had 19,796 tenants and 12,389 telecommunications sites. The company maintained strong funding from USD bonds and bank loan markets, including its achievement in issuing the lowest ever priced 7-year bond by an Indonesian corporate.

PT Lintas Marga Sedaya (LMS) delivered and successfully completed its project in 2015 by commercially opening the Cikopo-Palimanan (Cipali) Toll Road, the longest toll road section in the Trans Java network. The 116.75 km toll, inaugurated by President Joko Widodo in June 2015, bypasses five regencies in West Java, i.e. Purwakarta, Subang, Majalengka, Indramayu, and Cirebon. Not only does the new Toll Road shorten the travel duration to 1.5 – 2 hours, but it is also expected to create logistics efficiency and economic multiplier effect in the region.

Natural Resources Sector

PT Merdeka Copper Gold Tbk. (IDX: MDKA) successfully listed its shares on the IDX in June 2015. Earlier this year, MDKA secured USD 130 million syndication loan from three major banks to support its gold production in the Tujuh Bukit project, a vital national object declared by the Ministry of Energy and Mineral Resources.

In 2015, Sumatra Copper & Gold successfully achieved its first gold pour in its Tembang project, located in Central Sumatera. SUM is a gold producer listed on the ASX with projects in several locations in Sumatera, Indonesia.

PT Adaro Energy Tbk. (IDX: ADRO) continued to deliver operational excellence and resilient financial performance despite challenges in the coal market. The company booked net profit of USD 151 million and successfully lowered its coal cash cost to USD 27.98 per ton. The company maintained strong cash balance of US$702 million, which provides a strong support against the current downturn.

2016 Projections

Michael remarked that in 2016 Saratoga will continue to explore potential opportunities and closely manage its investment portfolios. This move has been undertaken by acquiring 5.63% of PT Mulia Bosco Logistik in early 2016. The transaction provides an excellent opportunity for Saratoga to build a platform in high growth cold chain logistics sector.

Early in the year, Saratoga divested its investment in tug-boats and barges charter company, Pulau Seroja Jaya. The divestment proceeds totalled IDR 98.6 billion.

“Saratoga’s investments will continue to target Indonesia’s fundamental sectors of Natural Resources, Infrastructure, and Consumer Goods and Services. We are optimistic that Saratoga’s performance will improve in line with the increasingly positive national economic prospects,” he added.

About PT Saratoga Investama Sedaya Tbk.

Founded in 1998, PT Saratoga Investama Sedaya Tbk. is a leading active investment company in Indonesia. Saratoga takes an active role in managing its investee companies as well as in exploring investment opportunities in Indonesia.

Saratoga focuses on investment opportunities in the early-stage as well as in the growth stage, and also in special conditions with emphasis on sectors that support Indonesian economic development, such as consumer, infrastructure, and natural resources.

Saratoga’s vision is to continue to be the major active investment company in Indonesia as well as the partner of choice for national and foreign investors, who wish to participate in the dynamic growth of the Indonesian economy.

For more information on PT Saratoga Investama Sedaya Tbk. please visit: www.saratoga-investama.com

For further information, please contact:

Jakarta, July 31, 2015 – PT Saratoga Investama Sedaya Tbk. (ticker: SRTG) first half result continues to prove up the resilience of its business model as it continues to invest and actively explore new opportunities throughout the three key sectors of natural resources, infrastructure, and consumer.

In the first semester of 2015, Saratoga posted Rp 1.2 trillion in profit attributable to shareholders, up 121% from Rp 542 billion for the same period last year.

The increase in net profits was partly due to the robust results of its refining business as well as on the one-off impact as a result of reclassification in PT Merdeka Copper Gold Tbk. (Ticker: MDKA) from the equity to cost method due to the dilution following Merdeka’s IPO.  MDKA’s IPO last June is part confirmation of Saratoga’s business model as it invests in early stage companies, develop them and position them for further growth and development potentials.

On the other hand, lower net share profit was recorded by 51.4% to Rp 244 billion this semester due to the decline income recognition from ADRO, TBIG and MPMX, compared to Rp 501 billion in the same period last year.

The company’s revenue in the period reached Rp2.3 trillion while its net asset value was at Rp 20 trillion based on the market value of its listed investee companies, as well as the book value of non-public investee companies. In line with the macro-economic themes, infrastructure now accounts for 60% of the portfolio with the recent milestones like the opening of the 116km Cikopo-Palimanan tollroad and the recent entry into Paiton Energy.

Saratoga President Director Michael W.P. Soeryadjaya remarked that as an active investment company, Saratoga always find ways to strengthen its investment portfolio to achieve continous growth in the long-term. “Amid the sluggish economic climate, Saratoga continues its strategy of looking at new opportunities that offer bright prospects, strengthen the existing investments and provide maximum added value to the Company. We are confident that the strategy will allow Saratoga to positively sustain its business growth,” said Michael in Jakarta, Friday (7/31).

In the first semester, a number of Saratoga investee companies turned in further significant growth and new acquired businesses further bolstered Saratoga’s investment portfolio

In the infrastructure sector, PT Lintas Marga Sedaya (LMS) since 13 June 2015 has commenced operations of the 116.75 kilometer Cikopo-Palimanan (Cipali) toll road. This longest toll road in Indonesia contributes significant benefits to the economic sector, particularly reducing travel durations and lowering logisitic costs through the North Java Coast Road (pantura). Based on Information available, the 2015 homecoming (Mudik) season saw 70% of travelers from the greater Jakarta (Jabodetabek) area making use of the the Cipali toll road.

Together with PT Agung Indonesia Mandiri, Saratoga have signed an CSPA to aquire 16.67%shares of PT Batu Hitam Perkasa (BHP) on 14 July 2015 . BHP holds 5 percent of shares in PT Paiton Energy, an electricity-generating company, which has secured a license to construct, own and operate a coal steam generator located at the Paiton Power Plant complex in Probolinggo Regency, East Java. Paiton operates two electricity generators: unit 7/8 and unit 3 for a total generating capacity of 2,035MW.

In the natural resources sector, Saratoga’s investee company PT Merdeka Copper Gold Tbk was successfully listed on the Indonesia Stock Exchange (IDX) on 19 June 2015. Merdeka is the first pre-producing mineral mining company successfully listed its shares on the Indonesia Stock Exchange (IDX). Merdeka shares saw an oversubscription at the upper price range, proving the high trust among investors to place their funds in the gold, silver and other mineral mining services offered by Merdeka.

Furthermore, Saratoga through its investee company PT Surya Nuansa Ceria (PT SNC) has signed a working agreement with PT Puncak Jaya Berlima to establish PT Agra Energi Indonesia to explore oil and gas. Saratoga controls up to 30 percent of shares worth US$7.5 million.

In the consumer sector, Saratoga together with its investee company PT Mitra Pinasthika Mustika Tbk. (MPM) and Golden Valley Advisors Inc. (Golden Valley) signed a Conditional Sales and Purchase Agreement (CSPA) to acquire 51 percent of PT Express Transindo Utama Tbk. (Express) shares from PT Rajawali Corpora (Rajawali) on 6 July 2015. The transaction is expected to be finalized this year.

“The recent results, albeit challenging, is a testament to the resilience of the company’s business model and to the robustness of its portfolio.  We will continue to diversify and strengthen our portfolio by exploring further investment opportunities and believe that the current conditions are constructive for further investments in our focused sector.  Not withstanding the current macro challenges, we are confident of the Indonesian economy’s long-term prospects and on our firm’s potential to continue to create value for our shareholders” said Jerry Ngo, Saratoga Financial Director.

–   end   –

About PT Saratoga Investama Sedaya Tbk.

Founded in 1998, Saratoga Investama Sedaya (Saratoga) is a leading active investment company in Indonesia. Saratoga takes an active role in managing its investee companies as well as in exploring investment opportunities in Indonesia.

Saratoga focuses on investment opportunites in the early-stage as well as in the growth stage, and also in special conditions with emphasis on sectors that support Indonesian economic development, such as consumer, infrastructure, and natural resources.

Saratoga’s vision is to continue to be the major active investment company in Indonesia as well as the partner of choice for national and foreign investors, who wish to participate in the dynamic growth of the Indonesian economy.

For more information on PT Saratoga Investama Sedaya Tbk. please visit: www.saratoga-investama.com

For further information, please contact: