Saratoga is Optimistic to Strengthen Its Investment Portfolio in 2014
Jakarta, 21 January 2014 – PT Saratoga Investama Sedaya Tbk. (Saratoga; IDX ticker name: SRTG) is optimistic with the investment opportunities in 2014 and will remain focused on sectors driving the Indonesian economy: infrastructure, consumer products and services, and natural resources. Saratoga will continue to be actively involved in seeking opportunities to unlock values of its existing portfolio companies while actively exploring new investment opportunities.
The upcoming elections and the dynamic macroeconomic and capital market conditions in Indonesia are challenges that can potentially make 2014 a very interesting year for Saratoga to capture attractive opportunities. By providing long term, patient capital to support companies across the economic and business cycles, Saratoga continues to pursue its core philosophy of being a partner of choice for entrepreneurs and business owners.
Saratoga Investama Sedaya Tbk President Director Sandiaga S. Uno said, “The year of 2013 was an important milestone for Saratoga. Saratoga and two of its investee companies, MPMX and NRCA, entered the Indonesia Stock Exchange and become publicly listed companies. These corporate actions have contributed positively to our overall performance and portfolio growth. In 2014, Saratoga will continue to make disciplined investments in new businesses which we believe have strong growth potential.”
Sandiaga also added, “We continuously support our investee companies to accelerate their growth profile. Our recent capital support for PT Provident Agro Tbk (PALM)’s growth in palm oil area is a case in point. We are also engaged in discussions with various partners including foreign investors looking to establish joint ventures in Indonesia.”
In Saratoga EGMS today, the shareholders have approved all points proposed in the agenda which support Saratoga’s active management of its investments as well as compliance to its corporate governance practices.
The EGMS results included approvals to appoint Public Accountant Firm Siddharta & Widjaja (member of KPMG) to audit the company’s financials ended 31 December 2013, remuneration of BOD and BOC in 2013, BOD structure, and amendment to its Articles of Association.
“The changes to the Articles of Association of the Company will provide further alignment to the company’s primary activities of exploring disciplined investment opportunities in sectors and businesses which we believe have strong growth prospects and have the ability to weather the macro-economic cycles” said Saratoga Chief Financial Officer, Jerry Ngo.
After the EGMS, both Michael Soeryadjaya (Director of Business Development) and Jerry Ngo would be responsible for business development and portfolio monitoring. “In principle, Saratoga will continue to focus on the three key sectors and to continue to invest in our existing portfolio companies as well as explore other opportunities. We will focus on ensuring that we continue to be disciplined in our cost management and deal selection processes,” added Michael.
During the EGMS, Saratoga’s management also reported the implementation of Management and Employee Stock Option Plan (MESOP) program to provide incentives to the company’s executives.
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About PT Saratoga Investama Sedaya Tbk.
Founded by Edwin Soeryadjaya and Sandiaga S. Uno in 1998, PT Saratoga Investama Sedaya Tbk (Saratoga) is a leading active investment company in Indonesia. Saratoga is active in managing its investee companies as well as in exploring investment opportunities in Indonesia. Saratoga has a strong track record in generating profitable investments in various key sectors driving growth in the Indonesian economy.
Saratoga’s vision is to continue to be the leading active investment company in Indonesia as well as the partner of choice for national and foreign investors, who wish to participate in the growth of the dynamic Indonesian economy.
For more information about PT Saratoga Investama Sedaya Tbk please visit:
For further inquiries, please contact:
General
Ira Dompas
Corporate Secretary
E: ira.dompas@saratoga-investama.com
Financial
Leona Karnali
Investor Relations
E: investor.relations@saratoga-investama.com