MEASURING AND ANALYSING FINANCIAL PERFORMANCE OF COAL MINING COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE BEFORE AND AFTER THE IMPLEMENTATION OF FAST TRACK PROGRAM 35,000 MEGA WATT OF 2016

• Main Author: Giovani, Maestro
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/47577
• Institution: Institut Teknologi Bandung

The need to get clean and healthy air is one of the basic human needs and must be fulfilled equally to everyone to continue to live. Government through Presidential Regulation No. 4 of 2016, which was later amended in Presidential Regulation No. 14 of 2017 aims to accelerate the development of electricity infrastructure, including the construction of 35,000-MW power plants by prioritizing the use of new and renewable energy in order to support efforts to reduce glass gas emissions. The 35,000-MW program was also regulated in Presidential Regulation No. 58 of 2017, which was later changed to Presidential Regulation No. 3 of 2016 concerning the Acceleration of the Implementation of National Strategic Projects. The purpose of this lesson is to measure and analyze the soundness of the financial performance of coal mining companies listed on the Indonesia Stock Exchange: PT Adaro Energy Tbk, PT Atlas Resources Tbk, PT Toba Bara Sejahtra Tbk, PT Baramulti Suksessarana Tbk, PT Mitrabara Adiperdana Tbk, PT Bayan Resources Tbk, PT Resource Alam Indonesia Tbk, PT Delta Dunia Makmur Tbk, PT Indo Tambangraya Megah Tbk, and PT Bukit Asam (Persero) Tbk during the period before and after the implementation of the 35,000-MW power plant development program by prioritizing the use of new and renewable energy in in 2013-2018 using financial ratio analysis based on SOE Ministerial Decree No. KEP-100 / MBU / 2002. To find out significant differences, calculations were also performed using the paired t-test statistical method in the period before implementation in 2013-2015 and after implementation in 2016-2018. The results of measuring and analyzing the financial performance are return on equity, return on investment, cash ratio, current ratio, collection period, inventory turnover, total asset turnover, and total equity to total asset ratio. Those will be validated by government regulation and paired t-test. Government regulations were used to conclude the financial health condition of them. The data used were financial statements audited by public accountants, of which periods were from 2013 to 2018. Toba Bara Sejahtera, Mitrabara Adiperdana achieved rank ratings AAA levels. Indo Tambangraya Megah, Bukit Asam, Adaro Energy, Baramulti Suksessarana, Bayan Resources, Delta Dunia Makmur got rank AA levels. Resource Alam Indonesia got BB level. Atlas Resources was the worst among the other nine companies, i.e., CCC level.