Saratoga Recorded Positive NAV Growth in Q1 2022
Jakarta, April 26 2022 –PT Saratoga Investama Sedaya Tbk. (ticker code: SRTG) booked a solid Net Asset Value (NAV) achievement of IDR 60.9 trillion in Q1 2022. The Company’s NAV grew 89 percent compared to IDR 32.3 trillion in Q1 2021 and higher than Saratoga’s NAV at the end of 2021 at IDR 56.3 trillion. Saratoga also posted net profit attributable to shareholders of IDR 3.6 trillion, a 208 percent year-on-year (yoy) increase. Most of which was contributed by unrealized increase in portfolio value.
Saratoga President Director Michael William P Soeryadjaja explained that the market value of the Company’s investment portfolio had continued to strengthen, continuing the trajectory from the second semester of 2021. The increase in share price of PT Adaro Energy Indonesia Tbk. (ADRO) and PT Merdeka Copper Gold Tbk. (MDKA) became the main catalyst for the rising Company’s NAV in Q1 2022.
“In the first quarter of 2022, Saratoga received dividend income of IDR 141 billion from PT Provident Agro Tbk. (PALM) and Deltomed. The Company’s positive performance at the beginning of the year further reflects Saratoga’s optimal investment strategy in key sectors that drive Indonesia’s economic growth,” said Michael in an official statement in Jakarta, (26/04)
Michael said that entering 2022, the economy still had to weather multiple challenges. The ongoing COVID-19 pandemic and fluctuations in energy prices have caused escalating inflation concerns in most countries across the globe, including Indonesia. As an active investment company, Saratoga continues to monitor the current situation, considering the trend of rising prices for staple goods and increasing domestic inflation.
“Currently, one of Saratoga’s main priorities is ensuring efficient and effective allocation of resources to support our business strategy. Saratoga strives to maintain the cost and debt ratio at a healthy level, where we record annualized operating costs to NAV at 0.3 percent and net debt value at 4.7 percent of NAV,” he revealed.
Saratoga Investment Director Devin Wirawan added that with the current dynamic situation, the company would continue to focus its investment in a number of strategic sectors. These include the digital technology, healthcare, renewable energy, and consumer related sectors that have continued to grow rapidly since the pandemic occurred more than two years ago.
According to Devin, Saratoga allocates around USD 100-150 million yearly to support existing portfolio and investment in new companies. This year, the Company is focusing on the digital technology, healthcare, renewable energy, and consumer related sectors, as the potential for these sectors remains very promising in the long term.
“Every investment will be carried out in a measurable, disciplined manner, and in sectors that contribute to national economic growth. As the Company is in a sound fiscal position, we are optimistic
that we can maximize every investment opportunity that provides optimal growth to the company’s value for the long term,” added Devin.
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 investing in innovative companies with high growth potential across Southeast Asia. The company has a strong track record of identifying, developing, and creating value from the companies in which we invest.
Our investment strategy has been refined to adapt to the changing times, evolving from our initial focus on natural resources, infrastructure, and consumer sectors to our participation in other new emerging sectors, including the rapidly expanding digital technology sector that has grown to become a major main driver of Indonesia’s sustainable economic growth.
Saratoga’s vision is to continue to be a leading world-class active investment company and the partner of choice for both local and foreign investors looking to participate in the dynamics of Indonesia’s economic growth.
For more information, please visit: www.saratoga-investama.com.