CORPORATE STRATEGY IN MERGER PLANS FOR STATE OWNED ENTERPRISES OF CONSTRUCTION COMPANIES (PT. PEMBANGUNAN PERUMAHAN TBK, AND PT. WIJAYA KARYA TBK)
Construction is one of the sectors contributing to gross domestic product in Indonesia. The construction sector is in the 5th largest position as a contributor to Indonesia's GDP. There are many players in this industry, both state-owned and private. Currently the government, through the...
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| Format: | Theses |
| Language: | Indonesia |
| Online Access: | https://digilib.itb.ac.id/gdl/view/85917 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | Construction is one of the sectors contributing to gross domestic product in
Indonesia. The construction sector is in the 5th largest position as a contributor to
Indonesia's GDP. There are many players in this industry, both state-owned and
private. Currently the government, through the Ministry of State Owned Enterprise,
has 7 companies operating in the construction sector.
The government plans to merge companies to reduce the number of companies
managed from the original 7 companies to just 3 companies. One of the companies
that will be merged is PT. Housing Development and PT. Wijaya Karya. This
merger step was carried out with the aim of improving the company's financial
condition and focusing the company on its core business.
Using qualitative methods and secondary data obtained through financial reports,
annual reports and other sources, the research began by consolidating the financial
reports of the two companies. This step is taken to find out the number of assets and
expenses that the company will have to bear in the future. Based on the corporate
strategy, the company is in the reduction stage.
Then the author carried out restructuring steps using a hexagonal restructuring
framework. This restructuring step was used because the company faced challenges
with large amounts of short-term loans and was in a loss position.
The next step is to carry out financial projections after restructuring. Carrying out
restructuring will reduce the company's operational burden after the disposal of
subsidiaries, and repayment of short-term loans will reduce the loan installments
that the company must pay each year. This projection shows that the company will
be able to turn the situation around from previously losing to making a profit every
year.
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