Tag: 爱上海 龙凤419

Saratoga to expand investment portfolio amid stock market losses

first_imgThe figure was similar to last year’s investment allocation of $100 million, according to a previous report by Kontan.The investment firm, backed by former Jakarta deputy governor and 2019 vice presidential contender Sandiaga Uno, currently has 15 companies in its portfolio.They including publicly listed companies like coal miner PT Adaro Energy, telecommunication tower firm PT Tower Bersama Infrastructure and automotive firm PT Mitra Pinashtika Mustika (MPM), stocks of which also took a severe hit in the pandemic.Since the beginning of this year, Adaro lost 33.76 percent of its value as of Thursday, while Tower Bersama and MPM share prices declined by 4.88 percent and 24.06 percent, respectively.Saratoga’s portfolio also includes several privately-owned companies like hospital firm PT Famon Awal Bros Sedaya and pharmaceutical firm PT Deltomed Laboratories.The firm’s finance director, Lany D. Wong, stated that the company remained confident on its investees’ stock performance this year, as some of those share prices had regained strength amid the gradual market recovery in April and May.“We are also confident about our investees’ financial performance, as they have good underlying,” said Lany.Meanwhile, Saratoga received approval from its shareholders to disburse Rp 149.2 billion in dividends this year, equal to Rp 55 per share, from its 2019 profit, she continued.The company pocketed Rp 7.37 trillion in net profit in 2019 as it booked Rp 6.23 trillion in net gains on investments. It also booked Rp 2.84 billion on dividends, interest and investment income last year.  Saratoga Investama recorded investment losses at Rp 5.9 trillion (US$418.8 million) in this year’s first quarter, a turnaround from Rp 1.39 trillion in profit it booked in the same period last year, as mark-to-market share prices plunged. The Jakarta Composite Index (JCI), the main gauge of Indonesian share prices, has dropped more than 21 percent since the beginning of the year, fuelled by investors’ fear over the impact of the COVID-19 pandemic on the economy.The company’s natural resources stocks portfolio recorded the steepest fall in the first quarter this year with Rp 3 trillion in losses against Rp 509.8 billion in the same period in 2019. In general, it focuses its investment on infrastructure, natural resources and consumer sectors.The company would continue investing in the three sectors, while it expected to score the new investment deals in the next six to 12 months, as it was currently conducting due diligence, Devin said.“We are allocating around $50 million to $100 million for this year’s investments,” said Devin. Publicly listed investment firm PT Saratoga Investama Sedaya plans to expand its investment portfolio after losses sustained in the stock market crash induced by the COVID-19 pandemic.The company’s investment director, Devin Wirawan, said on Wednesday that Saratoga had been assessing several companies and was determining the timing to purchase the stocks.“As an active investment company, we will actively buy new stocks when share prices fall as many of them become more affordable for us,” he told the press during a virtual press briefing, adding that the company would also remain cautious in expanding its portfolio.center_img Topics :last_img read more

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On further review, John Calipari might be wrong about basket interference replay being ‘easy’ fix

first_imgThe most amazing thing about Tuesday night’s college basketball action, even more incredible than Duke’s comeback from a 23-point deficit, was that everyone watching on television got the identical picture of doom for “the Commonwealth’s” two top-25 teams.A television camera affixed to the top of the goal at Kentucky’s Rupp Arena showed everyone how LSU center Kavell Bigby-Williams scored the game-winning tip-in to beat the No. 5 Wildcats by knocking the ball into the goal as it rested on the rim from teammate Skylar Mays’ original attempt at the decisive basket. Bigby-Williams’ goal was not a legal play, but neither was it reviewable under NCAA basketball’s instant-replay rules. MORE: SN’s March Madness bracket projectionsSome 76 miles away, another TV camera on top of the backboard at KFC Yum! Center showed how Louisville guard Ryan McMahon’s left foot rested on the no-charge line as Duke freshman Cam Reddish barreled into him. Officials initially called it a charge, because McMahon clearly was in legal guarding position in advance of being contacted by Reddish. But the play can be reviewed using replay, and McMahon’s foot on the line allowed them to overturn the call to a block and award free throws to Reddish. He converted, and No. 1 Duke won, 71-69.It seemed incongruous, that one of these plays could be reviewed by replay and one could not.Because just as a defender’s presence inside the no-charge zone is not a subjective call but an objective one, so are the concepts of goaltending (when the defense blocks a shot that is directly above the goal or on its downward path) or basket interference (when an offensive player touches the ball as it rests on the rim or floats directly above the goal).The rim and the imaginary cylinder extending above it are as identifiable on video as the no-charge zone. As well, so is the moment when the ball begins its downward path on a shot attempt.When SMU was eliminated from the 2015 NCAA Tournament by UCLA on a disputed goaltending call, it was believed that controversy might spark the NCAA men’s basketball rules committee to use replay to establish whether the ball is inside or outside that cylinder in such circumstances.J.D. Collins, the NCAA’s coordinator of men’s basketball officiating, told Sporting News the members of the rules committee discussed this situation at its meeting two years ago and decided against it — and not without reason. There may be unintended consequences to making such a rule change.“Let’s say someone takes a shot, the ball’s in the air and the official says, ‘That’s goaltending.’ Then they review, and it wasn’t goaltending,” Collins said. “Now it’s a loose ball, so we go to the possession arrow, and the wrong team might get the ball. There are some outcomes to that, that are not intended outcomes.“I think everyone just said, ‘Why don’t your referees get it right?’”MORE: Kentucky star PJ Washington making up ground in All-America raceCollins said he expects the issue will be discussed at the committee’s meetings this spring. This is what is known as a “rules-change year”; the committee generally tries to make significant changes only biannually so that those new regulations that are put in place are given sufficient time to demonstrate their value. But it still might not make sense to make goaltending/basket interference reviewable.UK coach John Calipari reminded reporters after the LSU game that the NCAA changed the rule about whether a shot-clock violation was reviewable after the Wildcats were beaten in the 2015 Final Four with the help of a basket scored by Wisconsin’s Nigel Hayes that might/might not have been released before the shot-clock expired.“They said it was not reviewable, and then they changed the rule to say: Why would you want to lose a game on a shot-clock violation and it’s easy to go check?” Calipari said. “Well, this one’s easy to go check, too. Just go check it. Why would you not? Why would that not be reviewable? So we’re like Wilt Chamberlain. We change rules.”It’s as easy as Calipari says — in the right circumstance. In the case of the Kentucky-LSU game, there would have been no problem. On review, Bigby-Williams’ play would have been overturned as an offensive basket interference call, and the Tigers and Wildcats almost certainly would have gone to overtime.But if an official blew the whistle in another game to signal for offensive basket interference without a goal being scored and a subsequent replay review showed the call to be incorrect, the same problem of establishing possession would arise. The possession arrow might point toward the defense at that moment, which would get the ball back even though the offense had done nothing wrong in its attempt to score.“It feels like what we have right now isn’t complete, but even if we change the rule, we might not complete everything and there’d be outcomes where it would be backward,” Collins said. “I think it’s complicated.”last_img read more

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