IDEAL INTEGRATION APPROACHES FOR OPTIMIZING ASDP GROUP'S PERFORMANCE IN RESPONSE TO THE POST-ACQUISITION OF PT JEMBATAN NUSANTARA

• Main Author: Wahyuning Tyas, Ekine
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/85949
• Institution: Institut Teknologi Bandung

This research examines the performance of PT ASDP Indonesia Ferry (Persero) before and after its acquisition of PT Jembatan Nusantara, aiming to understand the impact of the acquisition on profitability, liquidity, and operational efficiency. The study is driven by the necessity to evaluate how acquisitions influence financial performance and to propose strategies for a more effective integration. Despite maintaining financial stability post-acquisition, the current integration pattern—characterized by significant control over financial and strategic management while allowing operational autonomy—has not led to substantial improvements in profitability or efficiency. By comparing the company's performance from 2019-2021 (pre-acquisition) and 2022- 2024 (post-acquisition), and using qualitative and quantitative analyses, the study identifies areas for improvement in the integration process. The research methodology includes an analysis of the current integration pattern using the Pitkethly et al. framework and a financial performance assessment based on KEP-100/MBU/2002 standards, descriptive statistics, normality tests, Paired Sample T-Test, and Wilcoxon-SignedRank Test. Findings reveal that the acquisition has maintained financial stability without significantly enhancing or deteriorating PT ASDP Indonesia Ferry's financial health. To achieve better financial outcomes, the study proposes enhanced integration strategies . These strategies aim to foster a unified brand identity, centralized management, improved financial reporting, and knowledge-sharing initiatives. The research contributes to the understanding of post-acquisition integration, offering insights and a comprehensive integration model that can serve as a reference for similar corporate strategies, highlighting the importance of strategic alignment and operational efficiency for successful acquisitions.