Surging Coal Prices Propels Saratoga's Asset Performance

The net assets of PT Saratoga Investama Sedaya Tbk. (SRTG) have demonstrated consistent growth, reaching IDR 49.8 trillion in the first nine months of 2023. This marks a notable annual increase of 35%.

Duwi Setiya Ariyanti & Artha Adventy

23 Nov 2023 - 21.52
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Surging Coal Prices Propels Saratoga's Asset Performance

​​PT Adaro Energy Tbk's coal mining activities. Photo/JIBI-adaro.com

Bisnis, JAKARTA—The net assets of PT Saratoga Investama Sedaya Tbk. (SRTG) have demonstrated consistent growth, reaching IDR 49.8 trillion in the first nine months of 2023. This marks a notable annual increase of 35%. Despite ongoing corrections in the stock performance, SRTG, as an investment company with various issuers under, is seen to hold potential.

According to analyst at Sucor Sekuritas Paulus Jimmy, the performance of SRTG's assets in the first nine months of 2023 is closely tied to global coal prices.

“A significant portion of this performance can be attributed to the rise in Adaro Energy's (ADRO) share prices during this period, driven by the rebound in global coal prices,” he said, quoted Wednesday (22/11).

In addition to increasing asset value, SRTG is actively fortifying its cash flow by reducing debt amid the backdrop of rising global interest rates. The company has achieved a notable 72% year-on-year (YoY) reduction in net debt from IDR 588 billion.

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Surging Coal Prices Propels Saratoga's Asset Performance

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