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.


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.

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