Financial Performance Analysis of PT PLN Java-Bali Power 2 (PJB2) In Order Execution Go Public

Aminullah Assagaf
2013 IOSR Journal of Business and Management  
The purpose of research is the study of financial indicators to ensure the success of PT PLN PJB2 go public, and identify the factors that influence financial performance. Besides, it presents an alternative wisdom to improve the financial performance of PT PLN PJB2. The data used are time series data to study the function of electricity demand Java-Bali system, while the analysis of the financial performance using financial statement data from 1995 to 1997 and the action plan of the data
more » ... ies (CBP) in 1998. The results showed that: The financial performance is quite healthy in terms of liquidity and solvency. But in terms of collection of accounts receivable activity showed stunted terms of profitability shows that the financial performance of PT PLN PJB2 relatively very low compared to other companies that have successfully gone public. PJB2 PT PLN's financial performance in 1996 and 1997 show a return on equity (ROE) 5.71% and 2.29%, while return on assets (ROA) 4.78% and 1.85%. In comparison PT Indosat financial performance in 1997 showed 20.36% ROE and ROA 18.31%. While the cost structure of PT PLN PJB2 shows that contribution margin is still positive, which means that any market share gains led to increase profits and demand projections indicate that up to 2003 PT PLN PJB2 will grow quite rapidly.
doi:10.9790/487x-1350112 fatcat:mckug7zgjrhu3plnu5j65qqhgu