PROPOSED STRATEGY TO IMPROVE PERTAMINA FINANCIAL PERFORMANCE THROUGH THE SPINNING OFF IT'S LUBRICANT DIVISION AND FORMING A JOINT VENTURE WITH LUBRIZOL

• Main Author: FAHMI (NIM : 29107399); Pembimbing Akademik: Ir. Uke MMP. Siahaan, MBA, MACHMUD
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/22947
• Institution: Institut Teknologi Bandung

Pertamina is oil and natural gas company of the Republic of Indonesia (state&#8208;owned oil company). Pertamina’s lines of business consist of energy business in upstream and downstream sectors. One of the divisions of Pertamina is lubricant division. The important issue in this division is how to spinning off this business to be subsidiary. <br /> <br /> <br /> <br /> <br /> <br /> This study aims to assess feasibility of Spin&#8208;Off to increase the company’s values and performance, and to determine the strategic business unit that feasible for company. Rumours that formed the background of the occurrence of Spin&#8208;off including being the Failure or the delay in responding to the business challenge were caused less focus, the Regulation that arranged about industry of the lubricant in Indonesia, the new competitor who had the experience and the international reputation, the quality of technology that influenced lubrication procces, and the global Economics. <br /> <br /> <br /> <br /> <br /> <br /> Analysis of the Spinning off is done by making an assessment against the company before spinning off and then analyze the proses of spinning off and how the condition of the company after spinning off. Results of analysis showed that with spin off, the profitability of Pertamina will increase and the value of PT Pertamina Lubricant also increase so that option is recommended for spin&#8208;off to be realized.