Analisis Potensi Kebangkrutan Pada PT. Ramayana Lestari Sentosa Tbk

Dwi Marlinda Sari 1, Heriyanto2 Ida Rachmawati

Abstract


This research was conducted to find out and analyze the potential bankruptcy of PT. Ramayana Lestari Sentosa Tbk in the period from the first quarter to the fourth quarter of 2020 based on the Springate model.

The analysis used in this study is the Springate prediction model formula, with its components consisting of Working Capital to Total Asset, Earning Before Interest and Tax to Total Asset, Earning Before Tax to Current Liabilities, Sales to Total Asset.

The results showed that PT. Ramayana Lestari Sentosa Tbk is included in the criteria for bankruptcy in the first quarter to fourth quarter of 2020 based on the Springate model, where is the comparison with the cut off value or benchmark score to determine the company's criteria, it can be seen that Springate's score during that period was below the cut off score of 0.842. Bankruptcy is generally defined as the company's failure to run the company's operations to generate profits. The initial symptoms of bankruptcy are marked by the presence of financial distress, which is defined as being in a stage close to bankruptcy. The conditions experienced by PT. Ramayana Lestari Sentosa Tbk cannot be separated from the Covid-19 pandemic conditions faced by the whole world, including in Indonesia which resulted in a decline in people's purchasing power.


Full Text:

PDF

References


Andriani. 2021. Changes In Community Consumption Patterns Due To The Covid-19 Pandemic. Journal of Modern Accounting and Auditing Vol. 7, No. 7 July 2011 689-696. ISSN 1548-6583.

Anggara, Windu. 2019. Analisis Financial Distress dan Kebangkrutan Dengan Model Springate Pada Kelompok Perusahaan Jakarta Islamic Index (JII) Periode : 2013 –2017. Repositoriy Universitas Islam Negeri Sumatera Utara. Online. http://repository.uinsu.ac.id/6397/.

Effendi, Azhar Affandi, dan Iwan Sidharta. 2016. Analisa Pengaruh Rasio Keuangan Model Springate Terhadap Harga Saham Pada Perusahaan Publik Sektor Telekomunikasi. Jurnal Ekonomi, Bisnis & Entrepreneurship Vol.10, No. 1, April 2016, 1-16. ISSN 2443-2121

Fredy, Hotman. 2018. The Prediction Of Bankruptcy In The Pulp And Paper Industry Company Listed In Indonesia Stock Exchange On 2011-2016 Period Using Z-Score Altman, Springate And Grover Model. South East Asia Journal of Contemporary Business, Economics and Law, Vol. 15, Issue 5 (April). ISSN 2289-1560

Kesuma, M. R., Defung, F., dan Kusumawardani, A. 2021. Bankruptcy Prediction And Its Effect On Stock Prices As Impact Of The COVID-19 Pandemic. Technium Social Sciences Journal, 25(1), 567–582. https://doi.org/10.47577/tssj.v25i1.4964

Safitri, Aprilia dan Ulil Hartono. 2014. Uji Penerapan Model Prediksi Financial Distress Altman, Springate, Ohlson, dan Zmijewski Pada Perusahaan Sektor Keuangan Di Bursa Efek Indonesia. Jurnal Ilmu Manajemen Volume 2 No 2 April 2014.


Refbacks

  • There are currently no refbacks.