Creating a Better World Through Sustainable Business Partnership - PT SARATOGA INVESTAMA SEDAYA TBK.
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Creating a Better World
Through
Sustainable Business
Partnership
PT SAR ATO G A I N V ESTAMA SED AYA T BK .
S U S TA I N A BI L I TY REPO R T 2 0 2 0
PT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 1
Table of Contents
Table of Contents 1
Theme Description 2
President Director’s Message 3-6
Sustainability Performance Highlights 7-8
Investment Milestone 9-10
About the
2020 Sustainability Report
Company Profile 12-13
Organization Scale 19
Sustainable Economic
Performance
Saratoga Governance 28
Governance Principles 32-33
Sustainable Economy 34
Social Performance
Excellent Human Resources 38
Employee Health, Safety and Wellbeing 43
Training and Development 43
Grow Together to Build Communities 48
and Preserve the Environment
GRI Index 57
Feedback Form 58
PT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 2
Theme
Description
As an active investment company,
we believe that our biggest role in contributing
to sustainable development is to ensure that
the sustainability principles are well applied
to our Company and our investee companies.
We strive to always consider environmental
and social sustainability in our investment
decisions to minimize the impact on the
environment and all relevant stakeholders.
By building strategic partnerships and engaging
with our investees and partners, we aim to
encourage them to align sustainability as
part of the company’s operations and ensure
economic, social and environmental sustainability.
PT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 3
President
Director’s
Message
[G R I 1 02- 14]
Michael William P. Soeryadjaya
President Director
Dear Stakeholders, Our sustainable development framework
based on four pillars:
We are proud to present the Saratoga 2020
1. Partnership for Sustainability
Sustainability Report, which is our first Sustainability
2. Long Term View and Sustainability Strategy
Report. In this report we would like to present
3. Growing Together with Competent
Saratoga’s sustainability performance in the social,
Human Resources
environmental and corporate governance that
4. Growing with Community and in Harmony
are material for our business and stakeholders.
with Environment
As an active investment company, our contribution
in the framework of sustainable development is to
Partnership for Sustainability
ensure that investments are carried out responsibly
Sustainability in business is believed to be the
and sustainably, not only in economic aspects
most significant trend shaping the world economy
but also in social and environmental aspects.
over the coming decades. We seek to enhance
our position as a leader in active investment
company in Indonesia that help put the economy
on a sustainable track. Our overall focus is to invest
responsibly to increase the economic value of our
PT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 4
portfolio companies, increase positive social and We believe our responsibility to stakeholders is not
environmental contributions and support long-term just to generate profits but also to create prosperity
value creation for a wider range of stakeholders. for the community and protect the environment.
As an active investor with long-term prospects, Prioritizing benefits over other performance may
we consider sustainability issues intuitively result in better short-term gains, but less socially
in investment decisions and engagements. acceptable in long term wise and can have an
adverse impact on the environment which will
In every investment decision making, we use ultimately affect the company’s sustainability.
the Social and Environmental Performance
Standards as an assessment standard for social We encourage investee companies to commit
and environmental performance of prospective more to reduce social and environmental impacts
investee companies. Social and Environmental of their operations and to actively contribute to
Performance Standards help us to identify their sustainability initiatives. Increasing awareness
the social and environmental risks and of the importance of a balance between economic
impacts of investee companies by focusing performance and environmental as well as social
on eight key issues, namely risk management, sustainability, especially in start-up investee
employment, resources efficiency, companies, is one of the focuses of our support
communities, land resettlement, biodiversity, because we realize that the main orientation of
indigenous peoples, and cultural heritage. start-up companies in general is to prioritize profit.
We are proactively taking part in our portfolio Growing with Community and in Harmony
companies’ individual growth journey. Through with Environment
strategic engagements and partnerships, we in Recognizing our role as part of the community,
enhance our understanding and support in terms of we carry out various community development
investee’s strategy, risk, performance and corporate programs which mainly focus on the education
governance. Together with our investee companies sector with the aim of strengthening
and investment partners, we discuss strategies the foundation for empowerment and
and opportunities to face existing risks and improving the life quality of the community.
challenges to achieve common goals and benefits.
Throughout 2020, we continued the flagship
Long Term View and Sustainability Strategy programs implementation that previously have
As an active investment company, a long-term been running, namely, the Entrepreneurship
outlook and approach is the added value we offer Development for Youth (ENVOY) program
to our investee companies and investment partners. and the “To be a New Green Leader”
Through our long-term strategy approach, we Environmental Leadership Training program.
focus on sustainability through business plans and
long-term value creation from investee companies.
A long-term view ensures us to integrate
a sustainability factor into our investment process
which helps lead to more informed investment
and more sound, risk-adjusted long-term returns.
PT S ARATOGA I NVESTAM A SED AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 5
The ENVOY program is an entrepreneurship
Growing Together with Competent
development program for students that aims
Human Resources
to create new young entrepreneurs. More than
It is important for us to ensure that human resource
350 young entrepreneurs have been born since
development is in line with business development.
the program began in 2009. Furthermore,
We believe that the company’s sustainability and
through the “To be a New Green Leader”
growth is supported by competent human resources
Environmental Leadership Training program,
and a healthy and comfortable work environment.
we are working to raise awareness of
the environment and support agents
Through various training programs, we always
of environmental change in various regions
support our employees to have the opportunity to
of Indonesia. By the end of 2020, more
learn and develop themselves. A total of 38 training
than 17,000 people from 24 provinces
sessions have been conducted for our employees
have benefited from this program.
in 2020. Each year we also conduct an annual
evaluation of employee performance to determine
As a response and concern for the Covid-19
potential development tailored to each individual.
pandemic in 2020, Saratoga has carried out various
joint initiatives with investee companies and
We recognize that the safety and health of Saratoga
partners to support the government in dealing with
employees is of utmost importance. Since the start
the pandemic and providing assistance to affected
of the pandemic in March 2020, we have made
communities. Assistance of 50 ventilators and
various changes to work patterns, including Work
more than 2,000,000 units of Personal Protective
from Home (WFH), to reduce transmission rates and
Equipment (PPE) such as protective clothing,
ensure the health of our employees. This change in
helmets, masks, gloves has been
working patterns does not reduce the productivity of
provided to several hospitals, clinics
our employees, on the other hand provides a sense
and communities throughout Indonesia.
of security for them to continue to do their jobs well.
In addition, we also handed over more
than 1000 food packages to health workers
Sustainability Challenges and Opportunities
in several hospitals around Jakarta.
As we know, 2020 is a tough year for business and
global community because of Covid-19 pandemic.
An unprecedented situation where the global
pandemic has changed the world economic order
causing a global economic and financial crisis. The
economic contraction that occurred was mainly due
to the sudden stoppage of various economic activities
and affected many industrial sectors, including
Saratoga and some of our investee companies.
PT S ARATOGA I NVESTAM A SED AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 6
The fluctuation of economic and political conditions
Appreciation
as well as the prolonged impact of the pandemic
All of Saratoga’s achievements in sustainable
creates uncertainty in the business climate. In
performance are not separated to the hard work of
keeping our financial performance consistent and
our human resources and synergies with investee
growing in an unfavorable business climate, we
companies, partners and all stakeholders. On behalf
implement a cost leadership strategy that focuses
of the entire Saratoga management, we would like
on minimizing costs while maintaining quality and
to express our deepest appreciation and gratitude.
competitive advantage. We apply this strategy
internally to us and our investee companies.
Portfolio diversification and careful financial
management have enabled us to survive and thrive
in times of pandemics. The declining performance
of several investee companies due to the impact
of the pandemic was offset by the performance
of other investee companies which tended to
be stable and increased during this pandemic.
We believe there are still many opportunities
that we can gain from our investee companies
and the development of a diversified
portfolio going forward. Therefore, we will
explore the potential and opportunities that
exist for the development of the company.
Michael William P. Soeryadjaya
President Director
PT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 7
Sustainability
Performance Highlights
(IDR in Billion)
2018
15.772
2020
Generated
Value 31.701
1.403 (Net Asset Value)
652 2019
2018 2020
22.855
2019
Active
Investment
1.149 *on a net basis
Discipline
in Execution
2018 2019 2020
New Investment 1 0 0
Term Sheet 8 7 6
Desktop Dilligence 32 18 22
Initial Assessment 47 50 30
Opportunities 91 172 86
PT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 8
899
Dividend
Income
482
251
117
2018 40
0 2 7 0 0
1.993
1.118
593
206
61
2019 8
1 1 0 5
750
214 215
210
105
2020
0 2 0 4 0
AGII Deltomed BHP NRCA TWU PALM MPM TBIG ADRO TOTAL
17.000 Donated
in 24 provinces
benefited from Saratoga Environmental
PEOPLE
>1.870
FOOD PACKAGES
Leadership Training program
“To be a New Green Leader”
>350 STUDENTS
from various regions has participated in ENVOY
20 STUDENTS
HAVE JOINED IN 2020
PT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 9
Investment Milestone
2002-2006 2007-2009 2010 2011 2012 2013 2014
NAV per share (IDR)
8.174
7.157 7.462
6.557
6.108
3.560
539
PT Adaro Indonesia PT Adaro Energy Tbk. PT Agro Maju Raya PT Medco Interra Resources Finders Resources PT Gilang Agung
Natural Resources Natural Resources Natural Resources Power Indonesia Limited Limited Persada
Infrastructure Natural Resources Natural Resources Consumer
Coal & Energy Coal & Energy Palm Plantation
Power Generation Oil & Gas Polymetallic Lifestyle
PT Banyan Mas PT Tower Bersama PT Mitra Pinasthika
PT Tri Wahana Seroja Investment PT Nusa Raya PT Trimitra Karya
Infrastructure Infrastructure Tbk. Mustika Tbk.
Universal Limited Cipta Tbk. Jaya (holding of
Telco Tower (formerly Consumer
Infrastructure Infrastructure Infrastructure PT Merdeka Copper
PT Banyan Mas) Automotive Gold Tbk.)
Freight Chartering Construction
Saratoga Investment Activity
Oil Refinery
Infrastructure
Natural Resources
PT Tenaga Listrik Telco Tower
Gorontalo PT Tenaga Listrik Gold
Sihayo Gold Limited PT Mitra Pinasthika
Infrastructure Gorontalo
Natural Resources Mustika Tbk.
Power Generation Infrastructure Consumer
Gold
Power Generation Automotive
PT Lintas Marga Sumatra Copper
Sedaya and Gold PLC
Infrastructure Natural Resources
Toll Road Polymetallic
PT Provident
Agro Tbk.
Natural Resources
Palm Oil Plantation
PT Adaro Energy Tbk. PT Tower Bersama PT Provident PT Mitra Pinasthika
Infrastructure Tbk. Agro Tbk. Mustika Tbk.
Listing
PT Saratoga
Investama Sedaya
Tbk.
Sold stake in an Sold stake in an
investee company investee company
DivestmentPT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 10
2015 2016 2017 2018 2019 2020
11.685
8.240 8.424
7.202
5.814
5.007
PT Agra Energi PT Mulia Bosco PT Deltomed PT Aneka Gas
Indonesia Logistik Laboratories Industri Tbk.
Natural Resources Consumer Consumer Consumer
Oil & Gas Cold-chain logistics Herbal Medicine Industrial Gas
PT Paiton Energy PT Famon Awal
Infrastructure Bros Sedaya
Power Generation Consumer
Healthcare
PT Merdeka Copper
Gold Tbk.
Issued EB of Divested Divested PT Lintas Divested Sold stake in an Sold stake in an
USD100 million PT Pulau Seroja Jaya Marga Sedaya PT Batu Hitam investee company investee company
Perkasa (Paiton
Divested palm Divested Energy)
plantationassets of PT Medco Power
PT Provident Agro Tbk Indonesia
with a market premium
price per hectare. Sold stake in an
investee companyAbout the 2020 Sustainability Report
PT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 12
Company Data
Saratoga Company Name
PT. Saratoga Investama Sedaya Tbk. [SRTG]
at a Glance Line of Business
Carry out trading activities and investment business
in the companies engaging, among others, in
sector of natural resources and energy, mining,
agriculture, plantation, forestry, infrastructure,
manufacture, production, automotive, distribution,
PT Saratoga Investama Sedaya Tbk. trading, technology, property, telecommunication,
is a Jakarta-based company whose transportation, health, financial services,
shares are listed on the Indonesia and other services. [GR I 102-2]
Stock Exchange (IDX). Established
Address
in 1997, PT Saratoga Investama
Menara Karya 15th Floor
Sedaya Tbk. (ticker code: SRTG)
Jl. H.R Rasuna Said Block X-5 Kav 1-2
is a world-class active investment
South Jakarta 12950 [GR I 102-3]
company in Indonesia with a unique
track record of creating value for Legal Entity
our stakeholders and the nation. Limited Liability Company [GR I 102-5]
[GR I 10 2 -1]
Domicile Phone
Jakarta +62 21 5794 4355
Our investments provide the
Fax Website
public with access not only to
+62 21 5794 4365 www.saratoga-investama.com
key strategic growth sectors of
Indonesia but also to blue chip Email
sector leaders and promising early investor.relations@saratoga-investama.com
stage and developing companies. corporate.secretary@saratoga-investama.com
Core Values Corporate
Character
Work Hard Integrity
Vision Mission
To become world- To be the
Work Smart Passion & Energy
class active investment partner of choice
company in Indonesia for investors
Work
that excels on the to participate Competence &
Thoroughly
back of strong in the dynamic Capability
corporate characters growth of Work
Wholeheartedly
to create value for our Indonesia
stakeholders and
the nationPT S ARATOGA I NVESTAM A SED AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 13
Saratoga, an Active Investment
Company in Indonesia
Our active investment Our Investment
methodology Framework
Platforms, partnerships and value creation Our investment framework is defined by
are three clear concepts that guide us. substantial development opportunities in Natural
Resources, Infrastructure as well as Consumer
PLATFORMS Products and Services markets – our three key
We view each investment strategically, as a pillars to support Indonesia’s economic growth.
platform for organic growth and future bolt
on acquisitions within the entire value chain.
Our portfolio is spread across:
PARTNERSHIPS • Early stage companies with significant upside;
We work closely with existing business owners whose
role is critical in providing continuity and performance. • Growth companies entering their mature,
Working with global professional investors, our highly cash generative phase; and
role is defined as a vital local partner, providing
extensive knowledge of the market and regulatory • Listed blue chip companies with well-established
environment. We embrace specialist expertise that market positions, offering long term growth and
can equip our investees with superior knowledge capital appreciation.
and technology for competitive advantage.
VALUE CREATION
We offer capital support, operational input,
financial advisory and access to significant business
expertise and commercial acumen, across Saratoga.
Our portfolio provides shareholders with a
prudent balance of risk management and reward.PT S ARATOGA I NVESTAM A SED AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 14
Portfolio
Highlights
[G R I 1 02- 2] [GRI 102- 4] [GRI 102- 6] [GRI 102- 9] [GR I 102-10]
FOCUS ON GROWTH ESTABLISHED
MERDEKA ADARO ENERGY
COPPER GOLD Coal & Energy
Gold & Copper
PROVIDENT AGRO
Natural Palm Plantation
Resources
ANEKA GAS INDUSTRI TOWER BERSAMA
Consumer and INFRASTUCTURE
Industrial Gas Telecommunication Tower
MULIA BOSCO LOGISTIK
Infrastructure Cold-chain Logistics
NUSA RAYA CIPTA
Construction
FAMON AWAL MITRA PINASTHIKA
BROS SEDAYA MUSTIKA
Healthcare Automotive
DELTOMED
Consumer Herbal Medicine
PROVIDENT
GROWTH FUND
Technology
SC TECHNOLOGY
INVESTMENT III LP
TechnologyPT S ARATOGA I NVESTAM A SED AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 15
Line of
Business
As referred to in the Company’s Articles of To support such main business activities, we are able
Association, our main purposes and objectives to engage in the supporting activities as follows:
is to carry out trading activities and investment [GR I 102-2] [GR I 102-9] [GR I 102-10]
businesses in the companies engaging in three
sectors, namely Natural Resources, Infrastructure, 1. To provide funding and/or financing needed
as well as Consumer Products and Services. by the companies in which the Company
[G R I 1 0 2 -2] [GRI 102- 4] [GRI 102- 6] [GRI 102- 9] [GRI 1 02-10]
has subscribed for its shares, either directly
or indirectly.
In pursuing its purposes and objectives, we are
able conduct the main business activities as follows: 2. To provide funding and/or financing needed
[G R I 1 0 2 -2] [GR I 102- 6] [GRI 102- 9] [GRI 102- 10]
by the other companies within the framework
of subscription of shares in such companies or
1. To establish new companies or subscribe shares such companies’ group or within the framework
in other companies either directly or indirectly; of investment of other assets in such companies
or companies’ group; and
2. To divest or dispose shares upon the companies
in which the Company has subscribed, either 3. To provide management services needed by
directly or indirectly. the subsidiaries or companies where the
Company has invested either directly
or indirectly, in order to carry out
its business activities.PT S ARATOGA I NVESTAM A SED AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 16
Name and Corresponding
Address of Our Subsidiaries
Subsidiary PT Bumi PT Nugraha PT Saratoga PT Surya PT Wahana PT Wana PT Lintas PT Trimitra
Name Hijau Asri Eka Kencana Sentra Nuansa Ceria Anugerah Bhakti Sukses Indonesia Karya Jaya*
Business Sejahtera Mineral Sejahtera
Corresponding Menara Karya Menara Karya Menara Karya Menara Karya Menara Karya Menara Karya Menara Karya Menara Karya
Address 15th Floor 15th Floor 15th Floor 15th Floor 15th Floor 15th Floor 15th Floor 15th Floor
Line of Investment Investment Investment Investment Investment Investment Investment Investment
Business
Year of 2007 2003 2005 2015 2005 2007 2018 2012
Establishment
Year of 2010 2003 2005 2015 2009 2011 2018 2014
Investment
Effective 99,99% 99,99% 99,99% 99,99% 99,96% 73,68% 99,99% 86,49%
Ownership
Operational Active Active Active Active Active Active Active Active
Status
Total Assets IDR 219 IDR 786 IDR 1.334 IDR 233 IDR 12.648 IDR 79 IDR 24 –
(in IDR Billion)
*note on full corresponding address:
Menara Karya 15th Floor | Jl. H. R Rasuna Said Block X - 5 Kav. 1 - 2, South Jakarta 12950
Phone : +62 21 5794 4355 Fax : +62 21 5794 4365
*Total assets below IDR 1 BillionPT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 17
Shareholding and
Saratoga Structure
Public Edwin Soeryadjaya
50,00% PT Unitras Pertama
32,72%
33,10%
12,67%*
Natural Infrastructure
Resources
SHIPPING TELECOMMUNICATION
MINING PLANTATION
Seroja Investment Tower Bersama
ADRO 23,26% 34,23%
AMARA
15,18% 25%
MDKA PALM
POWERPLANT CONSTRUCTION
19,13% 44,87%
Sihayo
TLG NRC
10,27%
46,25% 7,12%
HEB
50%
Interra Resources
12,11%PT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 18
The Company’s effective shareholdings both directly and indirectly.
*) The Company’s treasury stock was 0.7% of total shares due to buyback as of
December 31, 2020.
ADRO: PT Adaro Energy Tbk.
AGII: PT Aneka Gas Industri Tbk.
AMARA: PT Agro Maju Raya
BHA: PT Bumi Hijau Asri
DELTOMED: PT Deltomed Laboratories
Sandiaga S. Uno FABS: PT Famon Awal Bros Sedaya
HEB: PT Hijau Energi Bersama
Interra Resources: Interra Resources Limited
MBL: PT Mulia Bosco Logistik
MDKA: PT Merdeka Copper Gold Tbk.
MOMENTA: PT Momenta Agrikultura
MPM: PT Provident Agro Tbk.
NRC: PT Nusa Raya Cipta Tbk.
21,51% PALM: PT Provident Agro Tbk.
Seroja: Seroja Investment Limited
Sihayo: Sihayo Gold Limited
TLG: PT Tenaga Listrik Gorontalo
TBIG: PT Tower Bersama Infrastructure Tbk.
Consumer
CONSUMER LOGISTICS PROPERTY & RENT HEALTH SERVICES
PRODUCTS
MBL BHA FABS
MPM
23,73% 100% 3,06%
52,21%
AGII
8,39%
Deltomed
5,83%
Momenta
27,5%PT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 19
Company Scale
[GR I 10 2 -7]
2018 2019 2020
Total Employees 57 58 59
Total Revenue (6.105) 8.241 9.187
(in IDR Billion)
Total Capitalization 10.309 9.821 9.305
(in IDR Billion)
Liability 4.151 3.883 3.652
(in IDR Billion)
Equity 15.655 22.725 31.378
(in IDR Billion)
Total Assets 20.115 26.657 35.049
(in IDR Billion)
Net Profit (Loss) (6.195) 7.371 8.825
(in IDR Billion)
Next year, there will be many big challenges in the We continue to actively seek out target companies
global economy. Public health emergencies such as that are on the growth path of Indonesian economy.
Covid-19, which is still not ended since it was started It is our job to stay at the forefront, identify sector
from March 2020, uncertainty from the formulation winners and help them to continue growing.
of trade and investment policies, all of which have
affected investor confidence, global supply chains We participate in several initiatives related to
and also performance of the stock market this year. economic, environmental and social aspects.
In addition, we also support the initiatives
We believe, whenever there are challenges, there carried out by our investee companies.
are opportunities. Therefore, we are optimistic We also join an association, namely the
about the long-term economic prospects. Indonesian Listed Companies Association (AEI).
[GR I 102-11] [GR I 102-12] [GR I 102-13]
Indonesian economy foundation will remain
strong and be able to overcome existing obstacles
with resilience. We will continue to actively
invest by assessing the opportunities that exist.PT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 20
TECHNICAL STANDARD REPORTING
Reporting Saratoga’s 2020 Sustainability Report is prepared in
accordance with GRI Standard: “Core Choices”. In this
Profile report, there is no restatement and to make it easier
for stakeholders to find the disclosure standards that
are applied. We present GRI Standard disclosures
in special color fonts on every relevant page.
This is expected to make it easier for readers to
find related information for each disclosure. In this
The 2020 Sustainability Report is our first Report. report, the GRI Index is included at the end of the
This is the first time we make Sustainability discussion page for the relevant topic. Overall
Report to demonstrate our commitment and GRI Standard Index can be found on page 56.
[GR I 102-54] [GR I 102-55]
responsibility in upholding transparency and
accountability for all Saratoga stakeholders. We publish this Report in two languages, namely
Indonesian and English. For financial data, we
This report is our form of responsibility in use Rupiah nominations. Financial data disclosed
strengthening cooperation both to the Government, in this report is data that has been audited by
public institutions, private sector, and public. Public Accounting Firm for the purposes of the
Company’s Annual Report. Quantitative data in
In the future, we will consistently publish this report is presented using the principle of
Sustainability Report every year. We will publish comparability, at least for two consecutive years.
Sustainability Report through the company’s
official web portal. In this report, we use the This report is prepared based on POJK No. 51/
terms “Saratoga”, “Company” or “Us” to POJK.03/2017 on the Implementation of Sustainable
represent PT Saratoga Investama Sedaya Tbk. Finance for Financial Service Institutions, Issuers
[G R I 1 0 2 -51 ] [GRI 102- 52] and Public Companies and based on GRI Standard
which is officially effective as of July 1, 2018.
[GR I 102-54]
The report includes our data and information
based on the scope for the reporting period GRI recommends the use of external assurance by
January 1, 2020 to December 31, 2020, which an independent third party to ensure the quality and
contains about our activities from economic, reliability of the information presented in this report.
environmental and social aspects with performance However, it is not a requirement to be “compliant”
comparison of the previous one or two years. with the Code. Since this is our first Sustainability
This report only discusses Saratoga’s performance. Report, we have not guaranteed an independent third
There are no restatements that improve the party. However, we guarantee that all information
previous report and there are no significant disclosed in this report is true, accurate and factual.
[GR I 102-56]
changes compared to the previous report because
this report is our first report, and in the future we
will publish Sustainability Report every 1 year.
[G R I 1 0 2 -45 ] [GRI 102- 48] [GRI 102- 49]
[G R I 1 0 2 -50 ] [GRI 102- 51] [GRI 102- 52]PT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 21
PRINCIPLES FOR DETERMINING
QUALITY OF THE REPORT
In preparing this report, we adhere to the six (6)
quality principles recommended by GRI, namely:
• Balance
The report presents positive and negative aspects
of company performance.
• Comparability
The report contains economic, environmental and
social performance in the reporting year, along with
previous years so that stakeholders can compare
the existing performance.
• Accuracy
Laporan disampaikan secara akurat dan terperinci
sehingga pemangku kepentingan bisa menilai
kinerja yang ada.
• Punctuality
The report are prepared regularly according
to the schedule set by the company.
We hope that this report can be a source • Clarity
of information for stakeholders to find out The report contains economic, environmental
about the sustainability performance we carried and social performance with clear and
out in 2020. For two-way communication, we easy-to-understand information disclosure.
provide Feedback Form at the end of this
report. With this form, we hope readers and • Reliability
users of this report can provide suggestions, The report contains verifiable economic,
feedback, opinions, etc. which are very useful for environmental, and social performance.
improving the quality of reporting in the future.
REPORTING STAGE AND PRINCIPLES
Our Sustainability Report is an integral part of
Saratoga’s Annual Report. In preparing this report,
we considered the principles of stakeholder
engagement, sustainability context, materiality,
and completeness to serve as a reference in
determining the content of the sustainability report.PT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 22
Process of Determining Content of the Report
[G R I 1 0 2 -46 ]
Process of determining the content of Saratoga’s
sustainability report is compiled based on results
of internal discussions. There are four stages in
the sustainability report. In general, these four
stages were carried out during the reporting
period and were included in our planning.
Four stages of the report-making process are:
STAGE 1 STAGE 2 STAGE 3 STAGE 4
We identify sustainability The process The process of Assess material topics
topics that are relevant of prioritizing validation and that are appropriate
to the characteristics of sustainability topics approval of the to the context of
our business and their and issues that will disclosure of sustainability. This
impact on stakeholders. be reported through information presented process is carried out
This identification internal discussions in accordance with by taking into account
process is carried and prioritizing each predetermined the suggestions from
out through internal aspect. material topics. stakeholders, both
discussions. internal and external.
Content Determination Flow
of the Report
Topic Aspect Disclosure of Management Approach + Indicator
Step 1 Step 2 Step 3
Identification Priority Validation
Sustainability Context Materiality Completeness
Stakeholder Engagement
Step 4
Review
Sustainability Context Stakeholder EngagementPT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 23
DETERMINE MATERIALITY Material topic boundaries describe impact of the
influence of each material topic on stakeholders,
This sustainability report has been prepared as a both internal and external. The determination
form of our commitment in upholding the principles of material in this report is prepared based on
of sustainability and balanced development. internal meetings.
Information in this report is the implementation and
impact of the Company’s economic, environmental Meanwhile, the determination of report content is
and social performance in 2020, and this report is based on the principles of stakeholder inclusiveness,
also the first sustainability report for us so that there materiality, sustainability context and completeness.
is no reporting limit compared to the previous year.
Material topics in this report, as stated in the GRI
Through materiality analysis, we identify these standards, are topics that have been prioritized
topic choices based on what is important by us for inclusion in the report. Impacts
to us and also to our stakeholders. Then we that are used to determine priorities include
assessed potential relevant topics that have economic, environmental and social impacts.
been identified. From materiality analysis there
were 5 material topics and topic boundaries. The report contains an explanation of
[GR I 10 2 -46 ] [GRI 102- 47] [GRI 103- 1]
the impact on each material topic. The
following table is a list of material topics
based on the results of internal discussions.
Materiality
Matrix
LOW ME DIUM HIGH
1
5
HIG H
2
4
3
Influence on Stakeholders
ME DIU M
1 Economic Performance
2 Anti Corruption
3 Employee
LO W
4 Training and Education
5 Community Empowerment
Influence on PT Saratoga Investama Sedaya Tbk.PT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 24
Material Topic Boundaries
[G R I 1 0 3 -1] [GR I 102- 42] [GRI 102- 43] [GRI 102- 44] [GRI 102-46] [GR I 102-47]
No. Material Why This Number Boundaries
Topic Topic is
Material
Saratoga Business Government Community
Partner
1. Economic Has significant 201-1
Performance impact on
stakeholders
2. Anti Corruption Has significant 205-1
impact on
stakeholders
3. Employee Has significant 401-1
impact on
stakeholders
4. Training and Has significant 404-2
Education impact on
stakeholders
5. Community Has significant 413-1
Empowerment impact on
stakeholdersPT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 25
STAKEHOLDERS Stakeholder involvement is carried out
through stakeholder engagement approach
We strives to involve stakeholders in our by gathering all the opinions and feedback
operational activities, since stakeholders are needed to achieve company sustainability.
important figures to us. Relationship with
stakeholders is our focus on the Company where Basis for selecting stakeholders is based on
then we emphasize the importance of the impact results of internal discussions on November 6,
of sustainability program on stakeholders that 2020. This discussion was conducted to identify
have a direct effect on company implementation. material topics for Sustainability Reporting.
We identify stakeholders based on
To that end, we identify stakeholder groups their level of influence and interaction.
in all of our operations which include [GR I 102-42]
shareholders, employees, non-governmental By knowing stakeholders, we understand their
organizations, partners and government agencies. interests and are committed to facilitating
[G R I 1 0 2 -42 ]
each stakeholder in expressing their opinions
and thoughts in an effective, transparent,
timely manner, and taking into account
stakeholders opinions in making decisions.
The following table represents our efforts
in our approach with stakeholders.
Table of Stakeholder
Engagement
[G R I 1 0 2 -40 ] [GRI 102- 42] [GRI 102- 43] [GRI 102- 44]
Stakeholder Engagement Frequency Key Topics Proposed Stakeholder
Method Expectations
Stakeholder GMS • Annual GMS • Discussion on budget/ • The Company has excellent
in one year. financial accountability report, performance and sustainability
Extraordinary GMS appointment and dismissal of so that is able to make positive
when needed the Board of Directors and contribution to all stakeholders
the Board of Commissioners
• Public Expose • Once a year • Performance Update
Employee Regular meeting When needed Employment / welfare Get comfortable work environment,
provide adequate employee benefits
and provide opportunities for growth
Government • Policy maker/ When needed • Contribution to the State The Company is able to achieve
and Policy regulator • Compliance a predetermined work plan
Makers • Regular reporting with applicable laws
to regulators and
government
Work • Employment When needed Commercial relationship • Objective procurement process
Partners contract • To obtain mutually
• Investment beneficial cooperation
Partners
• Other Companies
• Banking
Association
Media • Press Release When needed Program Implementation • Trusted sources of news
• Media Visit • Accurate reporting
• Press Gathering
• Press ConferencePT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 26
Advice and Input from external parties to this report is our
commitment to improve our sustainability report.
Response For questions, input and comments on this report
can be sent to: [GR I 102-53]
CORPORATE SECRETARY
PT Saratoga Investama Sedaya, Tbk.
Menara Karya 15th Floor
Jl. H.R. Rasuna Said Block X-5 Kav 1-2,
South Jakarta 12950
Phone :
+62 21 5794 4355
Fax :
+62 21 5794 4355
Website :
www.saratoga-investama.com
Email :
investor.relations@saratoga-investama.com
corporate.secretary@saratoga-investama.comSustainable Economic Performance
PT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 28
Corporate
Governance
Good Corporate Governance (GCG) CORPORATE GOVERNANCE FRAMEWORK
[GR I 102-18]
and integrity are essential in bringing
the company towards sustainability. Saratoga’s Corporate Governance Framework
present check and balance system between
We are committed to continue prioritize the the authority of shareholders, the Board of
principles of Corporate Governance that Directors and management with the aim to
are in line with the company’s values in the protect Saratoga’s interests and those of
implementation of all operational activities. We shareholders and to create sustainable value.
always ensure that the principles of corporate
governance are well implemented in all aspects We strive to continue to improve management
of the business and at all levels of the Company. services effectively and efficiently to all
stakeholders in a number of strategic steps.
Five GCG principles consists of Transparency,
Accountability, Responsibility, Independence at Saratoga, the implementation of GCG aims to:
as well as Fairness and Equality have an i. Enforce Company policies from Management
important role for us in realizing business to all levels.
sustainability by taking into account the interests ii. Regulate and control all company activities
of all stakeholders, especially shareholders. through the implementation of formal and clear
[G R I 1 0 3 -1]
rules and mechanisms.
iii. Always improve accountability
The Board of Directors of the Company are of the company’s management to shareholders.
responsible for sustainable issues, in every iv. Create good communication between
process that occurs at Saratoga, we always ensure the Company and all shareholders, and
that sustainability principles are considered, v. Ensure Company compliance with applicable
including when making investment decisions. laws and regulations, including and especially
those related to regulations and guidelines
issued by the Financial Services Authority (OJK),
as well as the Indonesia Stock Exchange (IDX).PT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 29
GE N E R AL ME E TI N G OF SHA R EHOLDER S
Board of Commissioners Board of Directors President Director
Audit Committee Nomination & Investment Portfolio Investment Director
Remuneration Director Director*
Committee
Investment Committee
Head of Legal Head of HR &
Division and GA Division
Corporate
Secretary
* Directors who served resigned as Director of Portfolio on the AGMS on June 17, 2020
AUDIT COMMITTEE • Ensure that internal controls are developed
Audit committee is in charge of assisting the and implemented efficiently and effectively.
Board of Commissioners and the implementation • Ensure risk management processes are
of its supervisory function, especially related to adequate and implemented effectively
internal control system, financial reports and • Ensure the Company’s compliance with
external auditors. Audit Committee conducts its applicable laws and regulations, including
duties based on Audit Committee charter that has regulations from relevant authorities.
been approved by the Board of Commissioners
CODE OF CONDUCT OF THE COMPANY
and published on the Company’s website.
AND ITS SOCIALIZATION
[GR I 102-16]
SCOPE OF DUTIES AND
RESPONSIBILITIES The Company’s Code of Conduct is a guideline
that applies to all company employees
Audit Committee is tasked with providing
including the Board of Directors and the
professional and independent opinions to
Board of Commissioners. This is a guideline
the Board of Commissioners regarding the
for how to interact and relate to stakeholders.
implementation of supervisory function
of the management of the Company.
This Code of Conduct is made with the aim that
Main responsibilities of the Audit Committee are: the Company carries out its commitment to
• Ensure the integrity of the Company’s financial behave, have appropriate manner and to apply
reporting and the implementation of internal sanctions for violations that occur in the Company.
control system, and effectiveness and quality of
audit process by internal and external auditors.PT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 30
Whistleblowing
System
We establish an official mechanism that Reports of violations of suspected violations
facilitates reporting of suspected violations will be made confidentially, consistent with the
(whistleblowing) to report violations. Through need for further investigation and the identity
this system employees can report any case of of the whistleblower will not be disclosed.
violation, whether in the form of fraud or violation
of the GCG guideline, Code of Conduct, the All reports will be followed up by the
Company’s Articles of Association, prevailing Company. Internal Audit will ensure that
laws and regulations, confidential information, investigations are carried out as quickly and
and other violations to the Internal Audit unit. sensitively as possible without compromising
the quality and depth of the investigations.
[GR I 205-1]
This system was created in order to avoid conflicts
or disputes between the parties involved and to
find appropriate solutions to problems that arise.PT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 31
Anti Corruption and
Anti Fraud Policy
As stated in the Company’s Code of Conduct, 3
this policy covers the following matters:
Gifts and entertainment
[G R I 2 0 5 -1]
Gifts and entertainment can promote goodwill
in business relationship, however problems can
1
arise if this things become expected rewards
Anti-bribery, embezzlement of funds
and facility payments in a negotiation that could lead to a conflict of
All of our employees, including their families, interest in the company’s business relationship.
are not allowed to give or accept bribes, facility
payments, embezzlement or other forms for any We set a limit on the value of gifts and entertainment
reason. Giving, requesting, accepting bribery that employees can receive, which is a maximum
facilities directly or indirectly in any form by our of USD 200 (Two Hundred Dolar US). Gifts and
employees or their families cannot be accepted. entertainment that exceed this value may not
be accepted, except in circumstances where it
is not possible for the employee to refuse the
2
gift, the employee may accept the gift and then
Anti money laundering hand it over to the Human Resources Division
All of our employees, including their families, to be used for the needs of the Company.
are prohibited from being involved in or
assisting in money laundering. Employees who
are involved in these activities even if they are
not intentionally subject to criminal and civil
sanctions against themselves and the Company.PT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 32
Governance Principles
As a public company, we are recommended to implement 5 aspects, 8 principles, and 25 recommendations
related to the implementation of aspects and principles of Corporate Governance as regulated by the Financial
Services Authority through Circular Letter No. 32/SEOJK.04/2015 on Governance Guidelines for Public Companies
dated November 17, 2015. Based on the principle of compliance or clarity, public companies are required to
provide alternative explanations and implementation if the recommendations have not been implemented.
Recommendation Description
(have or have not complied)
1 Public Companies have voting procedures, either for open voting or close voting, Complied
which focusing on independency and the interest of the shareholders
2 All members of the Board of Directors and the Board of Commissioners Complied
of the public companies are present in the Annual General Meeting of Shareholders
3 Summary of the minutes of the General Meeting of Shareholders are available on Complied
the website of the public companies for at least 1 (one) year
4 The public companies have a communication policy Complied
with the shareholders or investors
5 The public companies disclose such communication policy with the shareholders Complied
or investors on the website
6 Determination on the number of the member of the Board of Commissioners considering Complied
the condition of the public companies
7 Determination on the composition of the member of the Board of Commissioners Complied
based on the variety of required skill, knowledge, and experience
8 The Board of Commissioners shall have self-assessment policy to assess Complied
the performance of the Board of Commissioners
9 Such self-assessment policy to assess the performance of the Board of Commissioners Complied
shall be disclosed in the Annual Report of the public companies
10 The Board of Commissioners has a policy with regards to the resignation of the member Explain. We have already had BOD
of the Board of Commissioners if being involved in financial crime Charter, Code of Conduct, Corporate
Governance Code and Company
Regulation, however, specific provisions
on this matter is still being prepared.
11 The Board of Commissioners or the Nomination and Remuneration Committee prepares Complied
succession policy for nomination process of a member of the Board of Directors
12 Determination on the number of the member of the Board of Directors considering the Complied
condition of the public companies and effectivity in making a decision
13 Determination on the composition of the member of the Board of Directors Complied
based on the variety of required skill, knowledge, and experience
14 The Director supervises the accounting or financial division shall has the skill Complied
and/or knowledge in accounting sectorPT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 33
Recommendation Description
(have or have not complied)
15 The Board of Directors shall have self-assessment policy to assess the performance
Complied
of the Board of Directors
16 Such self-assessment policy to assess the performance of the Board of Directors shall be
Complied
disclosed in the Annual Report of the public companies
17 The Board of Directors has a policy with regards to the resignation of the member of
Complied
the Board of Directors if being involved in financial crime
18 The public companies have a policy to avoid insider trading Complied
19 The public companies have anti-corruption and anti-fraud policy Complied
20 The public companies have a policy on selecting and improving the performance
Explain
Not relevant with the Company’s
of its supplier or vendor
business activities
21 The public companies have a policy with regards to the compliance of the creditors’ rights Complied
22 The public companies have whistleblowing system policy Complied
23 The public companies have a policy on granting long term incentives to the Board of Directors
Complied
and the employees
24 The public companies utilize the information technology more broadly other than the website as
Complied
the media for disclosure of information
25 The Annual Report of the public companies disclose the ultimate beneficial owner in the
shareholding of the public companies at least 5% (five percent), other than the disclosure
Complied
of the ultimate beneficial owner in the shareholding of the public companies through
the main shareholder and the controllerPT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 34
Sustainable
Economy
When the Covid-19 Pandemic hit Indonesia in main commodities are gold and copper. MDKA is
2020, it cannot be denied that it was a year full not significantly affected by the pandemic, with
of tests. But in the midst of that, we continue to successful preventive measures, MDKA imposes
improve operational performance effectively and strict quarantine for staff who fly to the site,
efficiently. This can be seen in Saratoga’s economic stright testing and carrying out
value gain in 2020, which is IDR 775 million. extensive tracking and tracing.
[G R I 1 0 3 -1]
One of our strategies is to diversify our investments, This year MDKA also signed memorandum
hence when the pandemic occured, having of understanding (MOU) with Eternal Tsingshan
a diverse portfolio is very helpful for our finances. Group Limited (Tsingshan) to develop
Therefore, Saratoga’s portfolio business in 2020 an acid-ferrous metal project
remains strong. As an example, one of our (AIM) to unlock the added value
investee companies, PT. Merdeka Copper Gold of Wetar Copper ore. AIM provides
Tbk (MDKA), has experienced a significant increase significant increase potential because it is
in commodity prices throughout 2020. Their estimated to have a long project life and an
attractive rate of return which is expected to
reach commercial production in two years.
Apart from MDKA, our other investee is PT. Mulia
Bosco Logistik (MBL). During this year, MBL
saw an increase in shipments of pharmaceutical
products, agricultural commodities and consumer
goods. In addition, demand for frozen food and
beverage as well as domestic franchises also
grew significantly. This, in turn, boosted the
positive growth of the national cold chain industry.
These conditions provide wider opportunities
for MBL to improve its performance in line with
investment support from Saratoga to increase
MBL liquidity and upgrade cold storage facilities.PT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 35
Our cost leadership strategy ECONOMIC
has had a profound impact VALUE GAIN
IDR in Billion
on our financial condition,
and has helped investee
companies to emerge
Total
during pandemic. Following 2018 Economic
Value
are the economic values
Obtained
generated and distributed by
Saratoga throughout 2020: 1.161.808
[G R I 2 0 1 -1] [GR I 102- 7]
1.146.608 15.200
2019 Total
Economic
Value
Obtained
2.015.037 6.641
2.021.678
2020 Total
Economic
Value
Obtained
775.587
767.972 7.615
Business Other
Revenue Revenue/
ExpensePT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 36
ECONOMIC VALUE
DISTRIBUTION
IDR in Billion
2018 2019 2020
72.071 60.635 77.801
Operational
Costs
Employee 66.316 96.379 104.426
Salaries and
Benefits
138.387 157.014 182.227
Total
Operational
Payments and
Employee
Salaries
2018 2019 2020
Contribution to
State Income
Dividends 200.759 298.198 148.976
through Taxes
Saratoga is committed
Expenses for the 214.675 135.909 66.926 to comply with the
Government
law and fulfilling the
(taxes, royalties, etc.)
responsibility to pay taxes.
Every year, we always
fulfill this commitment. In
Expenses for the 1.126 217 10.214
community 2020, Saratoga continued
to contribute by paid
taxes on time. In 2020
we were not involved in
Total Economic Value any legal or tax matters.
Distributed
554.947 591.338 408.343
Economic Value withheld 606.861 1.430.340 367.244
(difference in economic value
acquired and distributed)
note: • The Company’s economic performance is submitted on consolidated basis with audited financial reports.
• The calculation of economic value presented in sustainability reporting uses the method recommended in the GRI Standard.Social Performance
PT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 38
Excellent
Human Resources
Having competent Human Resources (HR) To ensure an effective, sustainable and
is one of the keys to develop the integrated HR Management system, we have
Company in a sustainable manner. implemented a number of integrated HR
development and management programs.
[GR I 103-1]
Throughout Saratoga’s history, we have always been
committed to continue to support employees in We have made optimal efforts to manage
their work as well as make innovation to overcome human resources by refining Saratoga’s HR
challenges of the times by creating safe and Policies and Procedures. In addition, anticipation
comfortable work environment. This is done to of business development is also carried out
help employees develop themselves and their by planning HR needs, both in terms of the
careers in line with our business sustainability. number (people quantity) of labor and quality
[G R I 1 0 3 -1]
(people quality) required for the next five years.
We always strive to achieve sustainability through
business development in various fields. We realize We also regulate policies related to matters
that these goals will be difficult to achieve without such as business conduct, organization,
the support of competent Human Resources. recruitment and selection, performance
appraisal system, training and development,
As concrete step, we have compiled a program to employee compensation and benefits.
improve the quality of reliable human resources in
line with the strategy of Company Development. We In recruiting new employees, we always
believe that the management of Human Resources open opportunities for everyone without
who have high work ethic, are committed, consistent discrimination on the basis of race, color, gender,
and motivated will give the best results that will religion, political opinion or ancestry. In the
impact the progress of Saratoga and Indonesia. reporting year, we did not have any incidents
of discrimination both internally and externally.
[GR I 406-1]PT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 39
Saratoga’s
Employees Profile
[G R I 1 02- 8]
COMPOSITION OF EMPLOYEES
BY GENDER
49,12% 50% 49,15%
28 people 29 people 29 people
2018 2019 2020
50,88% 50% 50,85%
29 people 29 people 30 people
Male Female
COMPOSITION OF EMPLOYEES COMPOSITION OF EMPLOYEES
BY ORGANIZATIONAL LEVEL BY STATUS
3 23 31 5 52
2018 2018
57 people 57 people
4 22 32 4 54
2019 2019
58 people 58 people
3 22 34 4 55
2020 2020
59 people 59 people
Director Manager & Staff & Non Permanent Permanent
Supervisor Non Staff Employees EmployeesPT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 40
COMPOSITION OF EMPLOYEES COMPOSITION OF
BY LEVEL OF EDUCATION EMPLOYEES BY AGE
19,30% 12,28% 21,05%
11 people 7 people 12 people
2018 2018
8,77%
5 people
71,93% 29,82%
36,84%
41 people 17 people
21 people
17,24%
13,79%
18,97%
10 people
8 people
11 people
2019 2019
8,62%
5 people
74,14% 29,31%
37,93%
17 people
43 people
22 people
16,95% 8,47%
25,42%
10 people 5 people
15 people
2020
2019 2020
8,47%
5 people
74,58% 23,73%
42,37%
14 people
44 people
25 people
Level of Education Age
Undergraduate Diploma Others > 50 41 - 50 31 - 40PT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 41
NEW EMPLOYEES COMPOSITION
BASED ON GENDER
2018 2019 2020
Male 4 people 1 people 1 people
Female 3 people 1 people 1 people
Remuneration
Remuneration is one of the steps we take to In 2020, we distributed total remuneration of
create competent Human Resources with quality Rp101,864,885,000 to all employees. This is a form
culture and work ethic. In practice, we implement of our appreciation to employees who have given
a remuneration scheme adhering to the principles the best performance to the Company. Saratoga
of internal fairness and external competitiveness. is also committed to provide remuneration in
accordance with applicable government regulations.
In addition to increase productivity, our remuneration
scheme will help each individual to obtain the Remuneration and bonuses are determined based
same rights in providing compensation and wages. on an annual performance assessment of each
employee.PT S ARATOGA I NVESTAM A SE D AYA T B K . | S U S TA I N A B I L I T Y R E P O R T 2 0 2 0 42
Saratoga Employee Remuneration in 2020
[G R I 4 0 1 -2]
No. Employee Remuneration Permanent Non-Permanent
and Benefits [GRI 401- 2] Employee Employee
1. Basic Salary
2. THR
3. Transportation Allowance
4. Leave Allowance
5. Service Period Appreciation
6. Production Service
7. Medical Benefits (BPJS Kesehatan)
8. BPJS Tenaga Kerja
9. Meal Allowance
10. Position Allowance
11. Grief Compensation for Employees Family
12. Shift Allowance
13. Attendance Incentives
14. Telecommunication Allowance
15. Pregnancy Allowance
16. Marriage Allowance
17. Umrah/Hajj Bonus
18. Corporate Clinic
19. Annual Bonus
20. Housing
21. Recreation
22. Reimbursement Allowance
23. Family Allowance
24. Educational AssistanceYou can also read
