ANALYSIS OF FINANCIAL PERFORMANCE OF SEAPORT COMPANIES BEFORE AND AFTER SEA TOLL IMPLEMENTATION

• Main Author: Tindaon, Ostinasia
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/47793
• Institution: Institut Teknologi Bandung

This aim of the study is to evaluate to implication of Sea Toll implementation to the financial performance of seaport companies in Indonesia. This study is motivated by the Sea Toll program which has been outlined in the Indonesia’ Rencana Pembangunan Jangka Menengah (RPJMN) 2015-2019 or Medium Term Development Plan 2015 – 2019. In order to achieve the aim, the study will employ the financial ratio analysis of the four seaport companies and validate the financial ratio using the Decree of the Ministry of SOE No.KEP-100/MBU 2002 to determine the health level of financial performance of each company. Further, this study is also using paired t-test to determine the difference of each financial ratio in the period before and after the Sea Toll implementation. As the result this study finds that Pelindo II and Pelindo IV showed lower health level of their financial performance after the Sea Toll implementation. In addition, there is the difference of TETA ratio for the seaport industry in the period before and after the Sea Toll implementation. This study only discuss the performance of all the companies based on the financial aspect, therefore it is needed further study to evaluate the company’s performance from other aspects to get the wider perspective of the implications of Sea Toll program to the seaport companies in Indonesia.