PT Saratoga Investama Sedaya Tbk (SRTG), Increase Stake in PT Merdeka Copper Gold Tbk (MDKA) by 53.36 Million Shares on December 13, 2024.

As a result, Saratoga's ownership in the gold mining company increased from 18.96% to 19.18%. "The 

purpose of this transaction is for investment, with direct ownership status," said Juan Akbar Indraseno, Corporate Secretary of Saratoga Investama Sedaya (SRTG), in a statement on Friday (December 13, 2024).

Juan revealed that the purchase of 53.36 million MDKA shares was made by the company at a price of Rp 2,273 per share. As a result, Saratoga spent Rp 121.29 billion for the acquisition of these MDKA shares.

After the share purchase, according to Juan, the company, together with PT Provident Capital Indonesia, is committed to maintaining control of Merdeka Copper Gold (MDKA).

Throughout the first nine months of 2024, Saratoga recorded solid performance, with a net gain from investments in shares and other securities amounting to Rp 5.02 trillion. This figure contrasts with the same period last year (year-on-year/yoy), which saw a loss of Rp 12.87 trillion.

The blue-chip stocks owned by SRTG include PT Tower Bersama Infrastructure Tbk (TBIG), PT Merdeka Copper Gold Tbk (MDKA), and PT Alamtri Resources Indonesia Tbk (ADRO). The company also holds investments in growing companies such as PT Mitra Pinasthika Mustika Tbk (MPMX), PT Provident Investasi Bersama Tbk (PALM), PT Samator Indo Gas Tbk (AGII), and PT Nusa Raya Cipta Tbk (NRCA).

SRTG's investment gains from January to September 2024 primarily came from blue-chip stocks, which reached Rp 5.5 trillion, compared to a loss of Rp 12.25 trillion in the previous period. Meanwhile, investments in growing companies still recorded a loss of Rp 312.64 billion, an improvement compared to the previous loss of Rp 548.34 billion.

In addition, investments in digital technology stocks showed a greater loss, increasing from Rp 51.48 billion in the first nine months of 2023 to a loss of Rp 164.41 billion in January-September 2024.

In addition to profits from stock investments, SRTG also earned dividend and interest income amounting to Rp 1.66 trillion, as well as other income of Rp 13.45 billion. After deducting operating expenses and other costs, SRTG was able to record a profit before tax of Rp 6.36 trillion, compared to a loss of Rp 11.4 trillion in the same period last year.

Saratoga’s (SRTG) profit for the current period attributable to the company’s owners amounted to Rp 5.22 trillion for the first nine months of 2024, a significant increase compared to the loss of Rp 10.6 trillion in the same period in 2023.