Mentari Puspadini, CNBC Indonesia
Market
Saturday, 29/07/2023 18:25 WIB
Photo: Saratoga. (Doc. Saratoga)
Jakarta, CNBC Indonesia – A company that is also owned by Sandiaga Uno, PT Saratoga Investama Sedaya Tbk (SRTG) recorded dividend income of IDR 1.5 trillion in the first half of 2023, up 9% compared to the same period last year. Even so, the profit of this investment company experienced a deep correction.
Saratoga Finance Director Lany D Wong revealed that during the first semester of 2023, Saratoga was able to maintain a healthy cost and debt ratio with operational costs of 0.5 percent of NAV and loan to value of 1.1 percent. For the record, SRTG’s Net Asset Value (NAV) was recorded at IDR 47.5 trillion
In the midst of high interest rates, Saratoga managed to reduce interest expenses in semester I-2023 by 53 percent compared to semester I-2022 through a debt reduction initiative. The company’s net debt position in this period was IDR 507 billion compared to IDR 688 billion at the end of 2022.
Lany explained that during this period, share prices in a number of Saratoga’s portfolios experienced a decline. Like the shares of PT Adaro Energy Indonesia Tbk. (ADRO) and PT Merdeka Copper Gold Tbk. (MDKA). This then has an impact on the NAV value and the company’s profit/loss position.
However, Lany emphasized that most of the losses recorded in the first semester of 2023 were unrealized losses and were only recorded in the profit/loss report.
“It should be understood that as an investment company, Saratoga always adjusts the value of each portfolio on a mark to market basis. With the company’s strong liquidity position, we are optimistic that investment strategies can be executed optimally and provide maximum added value for shareholders, either through increasing the company’s NAV value and dividend distribution,” said Lany.
Referring to the financial report for semester 1/2023, Saratoga recorded a current loss attributable to the owning entities as of June 2023 of IDR 12.21 trillion. This contracted in the same period the previous year of IDR 3.31 trillion.
This is due to the depreciation of net income on investments in
shares and other equity securities which were recorded at minus IDR 15 trillion from the previous profit of IDR 2.7 trillion.
Even so, Saratoga Director of Investment Devin Wirawan said that his party continues to optimize every new investment opportunity as a strategic step to maintain investment value growth in the long term. Therefore, Saratoga will continue to strengthen its investment in strategic economic driving sectors.
“The company is committed to continuing to strengthen its existing investment portfolio, especially in digital infrastructure and renewable energy, and continuing to diversify investments in other sectors such as health services and consumer products through collaboration with strategic partners. We believe these steps will yield positive results. and sustainable,” he explained.
For information, entrepreneur and politician Sandiaga Uno is the founder of PT Saratoga Investama Sedaya Tbk (SRTG) together with Indonesian conglomerate Edwin Soeryadjaya. Sandiaga Uno owns 2,917,827,145 shares of SRTG or 21.51% of the total shares of SRTG.
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2023-07-29 11:25:06
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