The 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. Topics :
MIAMI, Florida – Christmas is perhaps the most celebratory event in the Christian calendar. Christmas Day is bundled with several holidays celebrated between the end of November and the end of December, which include Thanksgiving, Hanukkah, Kwanzaa, and New Year’s Eve. Since these holidays include other religious commemorations, to be inclusive, this period from Thanksgiving to the New Year is simply called the holidays, but to Christians, it’s the Christmas season.It seems Christians, representing a large percentage of the South Florida population, are more adamant this year to emphasize that the season commemorates Jesus’ Birth. On several occasions, people offering “Happy Holidays” greetings have been rebuffed by the pronounced response, “Merry Christmas,” and this year more retailers have hung “Merry Christmas” banners instead of those depicting “Happy Holidays” as occurred in recent years. Greeting card stores are also selling more Christmas cards, rather than “holiday” cards.An interesting comment was made by a local Pentecostal pastor that the challenge of recent times is driving more people to seek hope in Christ, hence the reemphasis on Christmas. “People need hope more than ever these days,” said the pastor. “They are hoping for jobs, saving their homes from foreclosure, to get better salaries, have stronger families, find love; and they see this hope exemplified in the Christmas message with the commemoration of the birth of Christ, the Messiah born to bring hope and salvation to a sinful world.”People of different religious beliefs may disagree with his view, but it seems that Christmas, and the season that surrounds it, generate a degree of hope and optimism among a large percentage of the population wherever Christmas is celebrated.During Christmas, many people are more generous. Individuals who complained of being strapped for cash during the year find funds to spend on friends, relatives and themselves. People who were otherwise strangers during the year become more friendly, offering pleasant greetings for joy, blessings and happiness to each other. Generally, people become more charitable, reaching out to feed the hungry, and offer gifts to the poor, especially children, who would otherwise receive no gifts.However, people also tend to lose their sense of reasoning during the season, spending relentlessly, not heeding caution that this heavy spending will leave them in debt during the new year. While such spending augurs well for the economy, it depletes the personal savings of individuals and families who cannot afford this loss. However, many people get caught up in this environment of generosity, and harbor hopes that the new year will bring the blessings they prayed for during the passing year to compensate for their excesses during the Christmas season.But Christmas is not permanent. The festivity ends abruptly, especially in America, where at midnight on December 25, Christmas disappears like Cinderella’s coach, replaced by the pumpkin of reality.After all the glitter is cleared, and the visiting relatives return home, everyone has to find the most realistic means of coping with the challenges of their respective lives. Nonetheless, Christmas serves as an important reminder, and, like the pastor said, offers hope to a burdened people.The season proves that kindness, a spirit of sacrifice and goodwill, and a real attempt to reach out to the less fortunate is realistic. While most people won’t be able to spend without limit, they can share the true spirit of Christmas, regardless of their religious beliefs. They can continue to love and respect each other as they want to be loved and respected.This should be the legacy of the Christmas season and Christmas Day.May this message resonate long after the season ends.