WORKING CAPITAL MANAGEMENT IN PT. WIJAYA KARYA (PERSERO) Tbk.

• Main Author: Anggriani, Dewi
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/39209
• Institution: Institut Teknologi Bandung

PT Wijaya Karya (Persero) Tbk. is a state-owned company in the construction sector. WIKA bussiness pillars consist of industry, infrastructure and building, energy and industrial plant, realty and property and investment. WIKA current condition is showing the decreasing in stockprice and Return of Investment (ROE), while its account receivable (AR) and average collection period (ACP) is continue to increase. This indicates that the Company does not manage its working capital optimally. The objective of this researches is to give the best alternative solution to reduce Company average collection period by doing working capital management especially account receivable management. Account receivable management that used in this research are cash discount period, change credit period, customers selection, combination between cash discount period and change credit period, and combination of all those 3 (three) method. The results of this study is by using several technique of account receivable management, WIKA can reduce its average collection period, thus, it will reduce the investment on working capital, so, the Company could invest their money on the more productive assets and also distribute the additional profit gained as dividends to shareholder, so WIKA can turn back its share price. The Company can reduce its Account Receivable and get the biggest additional profit outright by apply cash discount period 2.96/60 net 229,4.