FINANCIAL PERFORMANCE EVALUATION OF SELECTED INDONESIA STATE-OWNED ENTERPRISES IN CONSTRUCTION INDUSTRY IN THE PERIOD OF 2014 – 3Q2020

Abstract

The number of infrastructure construction projects has increased significantly from the beginning of Joko Widodo infrastructure agenda in 2014 until 2020. Most infrastructure projects are given to SOEs in the construction industry. However, a sudden increase in projects today does not guarantee future workloads and performance. This research aims to assess PT Wijaya Karya Tbk (WIKA), PT Waskita Karya Tbk (WSKT), PT Adhi Karya Tbk (ADHI), and PT Pembangunan Perumahan Tbk (PTPP) financial performance and financial health from 2014 until 3Q2020, based on the Decree of Ministry of Stated Owned Enterprises (SOEs) number KEP-100/MBU/2002. From 2014 until 2019, WIKA has the best financial performance and is followed by PTPP, WSKT, and ADHI. However, in 2020, PTPP shows the best financial performance, followed by WIKA, ADHI, and WSKT, respectively. The results of the companies' health assessment based on rank; 1. WIKA's average score 72.60; 2. PTPP's average score 69.67; 3. WSKT's average score 65.74; 4. ADHI's average score 61.65.