FINANCIAL PERFORMANCE ANALYSIS AND EVALUATION OF GAS INDUSTRY IN INDONESIA: CASE STUDY OF STATE OWNED ENTERPRISE (SOE) PERUSAHAAN GAS NEGARA (PGN) FOR THE PERIOD OF 2013 - 2017

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Hasiholan, Leonardo Dapot and Daryanto, Wiwiek Mardawiyah (2018) FINANCIAL PERFORMANCE ANALYSIS AND EVALUATION OF GAS INDUSTRY IN INDONESIA: CASE STUDY OF STATE OWNED ENTERPRISE (SOE) PERUSAHAAN GAS NEGARA (PGN) FOR THE PERIOD OF 2013 - 2017. South East Asia Journal of Contemporary Business, Economics and Law, 17 (2). pp. 36-46. ISSN 2289-1560

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Abstract

Natural gas is a vital component of the world energy supply. Indonesia has been active in the industry for nearly 130 years. However, the global financial crisis and government intervention in gas prices caused the industry are predicted to be suppressed. The Decree No.KEP-100/MBU/2002 issued by the Indonesia Ministry of State-Owned Enterprises (SOEs) on June 2002 provides the mandatory of measuring and rating the financial health condition of the SOEs. This study aims to analyze and evaluate the financial performance of PT Perusahaan Gas Negara Tbk (PGN) as the SOE under Indonesia Ministry of Energy and Mineral Resources (MEMR) for the period of 2013-2017. The results of investigating of eight financial ratios: return on equity, return on investment, cash ratio, current ratio, collection period, inventory turnover, total asset turnover, total equity to total asset, then be validated by the decree of the Indonesia SOEs ministry to conclude the financial health condition of the company. The result shows that PGN has achieved good financial health condition levels for the period of 2013-2017 with rank rating AA, AA, AA, AA, A respectively. Furthermore, this industry has a challenge in asset utilization. Therefore, this study can be useful for the manager to tackle the challenge and improve its efficiency and profitability of the company. Keywords: Financial performance, Health condition, Gas industry, Perusahaan Gas Negara Tbk, Financial Ratio

Item Type:	Article
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HF Commerce > HF5601 Accounting H Social Sciences > HG Finance
Divisions:	Research And Community Empowerment > Journals
Depositing User:	Rizky Amalia
Date Deposited:	17 Jan 2020 10:43
Last Modified:	22 Dec 2021 04:40
URI:	http://repository.ipmi.ac.id/id/eprint/426

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