ANALISA PERKEMBANGAN KINERJA KEUANGAN PT. TELEKOMUNIKASI INDONESIA (PERSERO) Tbk PASCA KEBIJAKAN PRIVATISASI TAHAP KEDUA.

Abstract

PT. Indonesia Telecommunications ( Persero) Tbk., is a BUMN [of] which is on year 1995 have succeeded to come into the both competitive national market and also global through the program privatization by selling some of its share to society ( Go-Public). PT. Telkom Policy of privatization is meant to muster the society fund that can obtain a fresh fund to fulfilling PT. Telkom defrayal of investment and working capital. In the year 2001 PT. Telkom have run the second phase of privatization to be more improve the company performance. This research aim to analyze the performance of PT. Telkom financial work after the implementation of the second phase privatization in the year 2001, by using measurement of finance ratio, for example: Liquidity Ratio, Activity Ratio, Solvency Ratio, Profitability Ratio and Return of stockholder Investment Ratio. This measurement [is] conducted to see the storey; level of efficiency and effectivity PT. Telkom after doing the second phase of privatization in the year 2001. The Analysis method used are descriptive analyze by using 11 finance ratio which is pursuant to data of financial statement PT. Telkom which have been processed from year 2000 up to year 2005, got from corner of BEJ UNDIP. From all analyzed ratio, obtained result that in generally PT.TELKOM second phase of privatization performance in the year 2001 can be told good either due PT. Telkom have succeeded to improve the performance of company in the second phase of privatization. This matter can be seen from the number of better ratio storey; level after the second phase of privatization if it compared to the implementation before the second phase of privatization in the year 2001. But in the case of taking care of storey; level of company advantage, company management have to be more care about the consistency growth level of company advantage by improving efficiency and effectivity to reduce the company cost which must be accounted on and maximize the management of company asset, especially in its circulating assets. Therefore the writer give suggest to the company to conduct effective asset management by using the asset ( investment) to be more improve the earnings, without overruling circulating assets owned. Besides PT. Telkom require to do the better evaluation to its long-range projects as a whole, including program of product development of telecommunications service assessed by less efficient that able to harm company.