Jakarta, May 16, 2024 – PT Saratoga Investama Sedaya Tbk (“Saratoga” with ticker code: SRTG), is set to distribute as much as IDR 298.43 billion in cash dividends, or approximately IDR 22 per share for FY 2023 as decided by the shareholders in the Annual General Meeting of Shareholders (AGMS) held on Thursday, May 16, 2024.

Saratoga Finance Director Lany D. Wong said that Saratoga's financial performance was supported by the achievements of its portfolio companies and the success of the company's strategic investments and divestments. By the end of 2023, Saratoga's cash flow of dividends and divestment proceeds reached its highest level, a robust IDR 3.9 trillion.

According to Wong, bolstered by healthy cash flow, Saratoga then decided to distribute dividends for the 2023 fiscal year. "This dividend distribution is a token of appreciation from the company to its shareholders for their trust in and support for Saratoga. This is the fifth year since the 2019 fiscal year that Saratoga consistently paid dividends to demonstrate/showcase its commitment to its shareholders," said Lany.

Lany said that Saratoga would continue its commitment to increasing each portfolio’s value. In addition to strengthening investment in mature portfolios, such as PT Adaro Energy Indonesia Tbk (ADRO), PT Merdeka Copper Gold Tbk (MDKA), PT Mitra Pinasthika Mustika Tbk (MPMX), and PT Tower Bersama Infrastructure Tbk (TBIG), Saratoga also continues to boost investment in strategic sectors, such as healthcare, digital infrastructure, and renewable energy. 

“We believe the investment potential in Indonesia is still extremely attractive. With the support of solid liquidity and proven experience, Saratoga will continue to optimize every investment opportunity and play an active role in accelerating Indonesia's economic growth," said Lany. 

Saratoga Investment Director Devin Wirawan added that 2023 marked a monumental momentum for the Company in executing its strategies as an investment company. Backed by a strong bottom line, last year Saratoga enjoyed success in its investment strategy by increasing its holdings in PT MGM Bosco Logistik (MBL), making the Company MBL’s majority shareholder. 

"We are grateful that in 2023 Saratoga was able to hit a new record high in terms of dividend income from the portfolio companies that we own. This made the Company’s liquidity more solid, thus opening up new, untapped opportunities to implement various investment strategic initiatives,” he added.

Devin went on to say that this year, Saratoga will remain active in executing its investment strategies, in parallel with the consistently favorable economic growth projections for Indonesia. 

The amicable conclusion of the general election last February also provided an incentive for business players to continue to invest and grow their businesses.

“We will retain our focus on attaining leverage on investments in the economic sector, which significantly contribute to the Indonesian economy. One of the strategies we employ is by strengthening investment in existing companies, or by adding new portfolios that have promising business prospects in the long term,” Devin concluded.