PT Adhi Research Articles

The Effect of Working Capital and Operating Cost on the Profitability of PT Adhi Karya in 2021–2023

Corporate financial management literature often mentions about the relationship between working capital and operational costs when it comes to profitability. These two should be well balanced to maintain the health of the firm’s finances since the large costs endured by a company will decrease the company’s profitability. Therefore, a company must have capital that at least meets the amount of operating costs in a company. This study aims to examine the effect of working capital and operating costs have on profitability in a company who has a struggle to manage effective working capital. Using quantitative methods, we found that working capital affects profitability, but operational costs surprisingly do not affect profitability

The Effect of Current Ratio and Debt to Assets Ratio on Debt to Equity Ratio at PT Adhi Karya (Persero) Tbk Which are Listed on the Indonesia Stock Exchange for the Periode 2013-2022

This study aims to analyse how PT Adhi Karya (Persero) Tbk, a company listed on the BEI in Indonesia, is affected by the CR and DAR in relation to its DER. Using a purposive selection strategy, this quantitative study draws 40 samples from financial records covering the years 2013–2022. Classical assumption testing and multiple linear regression analysis are the approaches utilised for data analysis. The F-test and the T-test are then used for hypothesis testing. The study found a medium amount of closeness between the CR and the DER, with a correlation value of -0.672342. A correlation value of 0.976407 between DAR and DER places it in the strong category. An study of the contribution of the independent variables, namely the CR and DAR, yields a DER value of 95.2%, while other factors account for the remaining 4.8%. Since it generates a sig value of 0.0000 < 0.05, the CR value significantly impacts the DER, according to incomplete study. With a sig value of 0.0000 < 0.05, DAR significantly impacts the DER. At the same time, the DER is significantly impacted by the two independent variables, CR and DAR, with a sig value of 0.0000 < 0.05

Payment System Analysis Non Cash Loan in Order to Increase Net Cash Flow Company Operations and Supplier at PT Adhi Karya (Persero) Tbk Project Stone Crusher Sigli Toll - Banda Aceh

This research aims to determine Payment System AnalysisNon-Cash Loans In Order to ImproveNet Cash FlowCompany Operations andSupplierson PT Adhi Karya (Persero) Tbk ProjectStone CrusherSigli-Banda Aceh Toll Road. This research uses variablesnon-cash loan, with the dependent variableNet Cash FlowAnd suppliersas a moderating variable. The method used is descriptive method. This research uses secondary data obtained from IDX and documentation from collaborating companies. The population and sample in this research was the PT Adhi Karya (Persero) projectStone CrusherSigli-Banda Aceh Toll Road. This research aims to find out the payment systemNon-Cash Loansin order to improve Net Cash Flowcompany operations andsuppliers. The results of this research show that the systemnon-cash loanin order to improveNet Cash Flow the company's operations run smoothly and are profitable for PT Adhi Karya (Persero) Tbk and Suppliers. However, not many people still know the systemnon-cash loanand this financing facility has not yet been implemented by the Bank for lower middle class companies

PENGARUH RETURN ON ASSET DAN DEBT TO EQUITY RATIO TERHADAP HARGA SAHAM KONTRUKSI PERUSAHAAN BUMN KHUSUS PADA PT ADHI KARYA (PERSERO) TBK

This study intends to ascertain the impact of debt to equity ratio and return on assets on the share prices of state-owned construction companies, with a focus on PT Adhi Karya (Persero) Tbk, over the years 2014–2022. The Indonesia Stock Exchange website (www.web.idx.com) and the PT Adhi Karya (Persero) Tbk website provide the data for the quantitative method, which is processed using SPSS soft ware. Based on the research findings, it can be inferred that the variable Return On Assets (X1) partially influences stock prices (Y) with a tcount of 3.270 > ttable 2.447 and a significant value of 0.017 < 0.05. It can be inferred that the Debt to Equity Ratio (X2) variable partially has no significant effect on Share Prices (Y) based on the DER variable's tcount of 1.206 < ttable 2.447 with a significant value of 0.273 > 0.05. Furthermore, the F test findings showed that the ROA and DER variables jointly had a considerable impact on stock prices, with an Fcount value of 5.458 > Ftable 5.14 and a significant value of 0.045 < 0.05. Consequently, the construction share price of the BUMN company, namely PT Adhi Karya (Persero) Tbk, is significantly impacted by both the Return on Asset (X1) and Debt to Equity Ratio (X2) variables at the same time.

The Implementation of “WE R GREEN” Program in ADHI Construction Projects for CO2 Emission Efficiency

As the leading state-owned construction company in Indonesia, PT Adhi Karya (Persero) Tbk (ADHI) has taken certain steps to address sustainability issues, especially when it comes to improving the environmental quality of infrastructure projects. "WE R GREEN" is an environmental program that emphasizes water conservation (W), energy efficiency (E), waste management (R, which stands for remove, reduce, reuse, and recycle), and tree planting activity (GREEN). This study used a construction project in Depok as the sample, where every action has a close relationship with the environment. The purpose of this study is to determine the CO2 efficiency of some project activities following the implementation of the "WE R GREEN" initiatives. The data consists of water consumption, project office building usage, electricity consumption, solid waste production, and planted tree specification. According to the data, total CO2 emissions were 110,62 tons CO2e year prior to program implementation, and the emission has dropped to 73,59 tons CO2e annually following the initiatives. This concludes that the total of 37,03 tons CO2e per year, or 33%, are reduced. Assuming the same number of people and project activities throughout all 109 ADHI projects to put the program into practice. The estimated annual CO2 output would thus decrease 4.036,06 tons CO2e.

The The Influence of Competency and Compensation on Performance and Job Satisfaction as an Intervening Study in Construction Services Companies

The purpose of this study is to ascertain how job satisfaction among employees in construction services organizations influences performance in terms of competency and compensation. The participants in this research were workers of PT Adhi Karya (Persero) Tbk, one of Indonesia's state owned enterprises providing construction services. The population of this study was 950, with a sample size of 255 people. Relying on a 5% percentage allowance, the calculation sample originates from the Isaac-Michael table. The research employs a quantitative methodology in conjunction with an explanatory strategy. The questionnaire used for data collection was given to 255 workers of PT Adhi Karya (Persero) Tbk who held manager-level positions. The Smart PLS (Partial Least Square Analysis) application is used in conjunction with the Structural Equation Model (SEM) analysis approach. According to the findings, competence and compensation have a considerable yet beneficial impact on performance. Job satisfaction is positively yet significantly impacted by both competence and compensation. Although there is a slight but favorable influence of job satisfaction on performance. Additionally, there is a positive but non-significant influence of competence and compensation on performance as measured by the intervening variable of job satisfaction. Keywords: Job satisfaction, employee performance, competency, and compensation

The Influence of Job Training, Job Safety and Job Satisfaction on Employees’ Performance of PT. Adhi Jaya Teknik

This research aims to analyze how much influence job training, job safety and job satisfaction have on the performance of PT. Adhi Jaya Teknik Jakarta employees. Data were analyzed using descriptive analysis methods and inferential analysis assisted by using the Statistical Product and Service Solution (SPSS) Version 23.0 program. The data used is primary data sourced from the results of questionnaires by respondents. The research results show that there is a positive and significant influence between job training, job safety and job satisfaction on the performance of PT Adhi Jaya Teknik employees shows that the better the job training, job safety and job satisfaction, the higher the level of employee performance. Based on the results of this research, PT. Adhi Jaya Teknik improves employee performance by paying attention to job training, job safety and job satisfaction.

Strategy for Reducing Employee Turnover Intention: The Influence of Organizational Culture and Work Environment as Mediated by Job Satisfaction

The research aims to analyze the influence of Organizational culture variables and Work environment variables on turnover intention variables, to analyze the influence of Organizational culture variables and Work environment variables on Job satisfaction variables and to analyze the influence of Organizational culture and Work environment on turnover intention with Job satisfaction as a mediating variable in PT Adhi Karya Manyar Smelter Gresik Project, The type of research used in this research is quantitative research. The population and sample in this study were employees of PT Adhi Karya Manyar Smelter Gresik Project, totaling 271 respondents. The research results show that Organizational culture and Work environment have a positive and significant influence on Turnover intention. Organizational culture has a positive and significant influence on job satisfaction, while work environment does not have a significant influence on job satisfaction. Job satisfaction has a positive and significant influence on turnover intention. Organizational culture has a significant influence on turnover intention through job satisfaction as mediation, but work environment does not have a significant influence on turnover intention through job satisfaction as mediation. From the research results of PT Adhi Karya Manyar Smelter Gresik Project, it is recommended to condition the organizational culture that is implemented, and provide or complete work facilities so that employees feel more at home at work, apart from that, increasing salaries or giving bonuses can also be done for employees to prevent turnover intention from increasing.

Analisis Rasio Likuiditas, Aktivitas, Solvabilitas Dan Profitabilitas Dalam Mengukur Kinerja Keuangan Pada Perusahan Kontruksi Periode 2020-2022

This study aims to analyze the financial performance of five leading construction companies in Indonesia, namely PT Wika, PT WASKITA, PT ADHI, PT ACST, and PT JKON, during the period 2020-2022. The dynamic business context, especially in the construction sector, marks the importance of financial performance as an assessment of a company's sustainability and competitiveness. In the face of challenges, including the impact of the global pandemic, financial ratio analysis becomes a key instrument to measure a company's ability to deal with uncertainty.

ANALISIS Z-SCORE PADA SUBSEKTOR KONSTRUKSI BANGUNAN DI BURSA EFEK INDONESIA

The purpose of this study is to recognize the potential for bankruptcy formation of building construction companies listed on the Indonesia Stock Exchange for the period 2018-2022. The position of construction companies listed on the Indonesia Stock Exchange between 2018 and 2022 is determined by this study using the Altman Z-Score approach. This type of research is quantitative. This study uses secondary data, namely the company's financial statements from 2018 to 2002. As a representative sample for this study, four companies selected were those that have published audited financial reports for the past five years on the Indonesia Stock Exchange. Altman Z-Score is used to estimate the likelihood of bankruptcy in this study. Calculations with the Z-Score formula can classify companies in three states, namely healthy, gray, and potentially bankrupt. The results show that the position of the four research samples is different. PT Adhi Karya Tbk, PT PP Tbk, and PT Wijaya Karya Bangunan Gedung Tbk are likely to experience bankruptcy, while PT Acset Indonusa Tbk is in a gray position.

Analysis of The Financial Performance of PT. Adhi Karya (Persero) Tbk Listed on The Indonesia Stock Exchange

The purpose of this study is to measure the company's financial performance based on the financial statements of a company using analysis of liquidity, solvency, and profitability ratios. The report used is every account in the balance sheet and income statement. The financial statements discussed are the financial statements of PT Adhi Karya (Persero) Tbk for the 2019-2020 period. The results of this study show that PT Adhi Karya (Persero) Tbk for the 2019-2020 period has poor financial performance. This is due to the company's lack of ability to meet short-term obligations and long-term obligations as well as the company's lack of ability to earn profits for 1 (four) period from 2019-2020. With this, the company is expected to be able to increase profits and be able to streamline the costs incurred in the company

DAMPAK PEMBANGUNAN HOTEL CIBINONG CITY MALL TERHADAP PERUBAHAN KONDISI SOSIAL DAN EKONOMI MASYARAKAT RW 04 PAKANSARI CIBINONG

Cibinong City Mall is one of the largest and grandest shopping centers in Bogor, which is located in the Pakansari area, Cibinong, Bogor, West Java. Strategically located in the central government area of Bogor Regency and 2 kilometers from the North Sentul toll gate. This mall started operating in 2013. Cibinong City Mall (CCM), is preparing the next step in the construction of Harris Hotel, by appointing PT Adhi Persada Gedung (APG) as the main contractor in the construction project.. The selection of APG as the main contractor is based on the credibility of the BUMN company which has succeeded in constructing many buildings in Indonesia. The number of hotels is feared to have an impact on the social and economic conditions of the community. The objectives of this study are 1) To examine the socio-economic characteristics of the population in the area around the hotel construction 2) To examine the effect of hotel construction on socio-economic conditions in Cibinong District. The analytical method used is the technique of collecting data through surveys in the form of interviews to obtain primary data. The results of the interview explained that 1) The characteristics of the social and economic conditions of the people of Cibinong District in the near, medium, and far areas were not much different. The level of awareness of public education is high. This is indicated by the SMA/SMK level that dominates in each area for both parents and children. The number of people who state that the income they get every month is sufficient to meet their daily needs and tertiary needs, 2) The effect of hotel development on socio-economic conditions in Cibinong District has positive and negative impacts. The direct and indirect impacts are seen in economic conditions where the direct impact provides new jobs for the surrounding community for the hotel construction process.

Analisis Nilai Wajar Saham Dengan Metode Price Earning Ratio

Stock investment analysis can be done by fundamental analysis and technical analysis. This study aims to analyse fair value (intrinsic value) of stock by using one of the fundamental technique, i.e. price earning ratio (PER). This study uses four fundamentals indicator such as return on equity (ROE), earning per share (EPS), dividend per share (DPS), and dividend payout ratio (DPR). Research sample are determined by purposive sampling technique. This research analyze two go-public companies that listed in Indonesia Stock Exchange, i.e. PT Adhi Karya (Persero) Tbk and PT Wijaya Karya (Persero) Tbk. Those companies are listed in Indonesia Stock Exchange with stock code ADHI and WIKA.
 The results of this study are both PT Adhi Karya (Persero) Tbk and PT Wijaya Karya (Persero) Tbk stock’s are in overvalued condition, so the investment decision that can be taken are sell those stock.

EFFECT OF CURRENT RATIO AND DEBT TO EQUITY RATIO ON NET PROFIT MARGIN IN THE COMPANY PT ADHI KARYA (PERSERO) Tbk. WHICH IS LISTED ON INDONESIA STOCK EXCHANGE IN 2017-2021

ABSTRACT The purpose of this study is to determine the effect of current ratio and debt to equity ratio on net profit margin both partially and simultaneously. The research method used is a quantitative research method with a descriptive approach. The population used in this study is the financial statements of PT Adhi Karya (Persero) Tbk. The sample used in this study is the financial statements of PT Adhi Karya (Persero) Tbk. for 2017-2021. The analytical methods used in this study are descriptive data analysis, classical assumption test (normality test, multicholinearity test, heteroskedasticity test, and autocorrelation test), hypothesis test (multiple linear regression test, coefficient of determination test, t test, and f test). The results of this study show that the Current Ratio partially affects and is not significant on Net Profit Margin with a calculated value of -3.510 with a significance level of 0.072 > 0.05. Debt to Equity Ratio partially negatively and significantly affects Net Profit Margin with a calculated value of -5.886 with a significance level of 0.028 < 0.05. Current Ratio and Debt to Equity Ratio simultaneously have an effect and significantly affect Net Profit Margin with a significant value of 0.019 < 0.05.

Enhancement of CSR Programs to Improve Value Creation for the Stakeholder: A Case Study of PT Adhi Karya (Persero) Tbk

PT Adhi Karya (Persero) Tbk. (ADHI) is a company engaged in the construction sector in Indonesia with the main business core including construction and engineering services, property, manufacture, and investment & concession. Throughout 2020, ADHI received appreciation in the form of awards for its achievements. This investment activity is not only a form of developing opportunities from ADHI's CSR missions, but also as a participation in stakeholders’ priorities programs that focus on national strategic infrastructure development. To analyze and research this, both qualitative and quantitative research methodology is used in this research to gain information and identify alternatives for the best way of enhancement strategies. This research uses AHP (Analytic Hierarchy Process) technique for data simulation, with BCOR (Benefits-Costs-Opportunities-Risks) method of data and elements identification. The primary qualitative data gathered is from two stages of FGD (Focus Group Discussion) with secondary data, the first one is to define the parameters of criteria which will be filled in the simulation, the second one is to analyze the output from the result of simulation and decide the final suggestion for the business strategy recommendation. As a result of this research, regardless of the main solution of the consulting activity, the goal of ADHI's business strategy selection is to support the community with an efficient and productive CSR program with a technology-based support system. Therefore, the best alternative is a combination of alternatives 1 and 2 which are Local Micro and Small Enterprises Support and Accommodation and Local Tourism Businesses Exposure and Awareness to Public. This model can be valuable at least due to political, economic, social, environmental and legal factors in each region. This model requires the development of educated and experienced personnel, as this type of CSR program requires a deep understanding of everything from organizational management to labor law to equal employment opportunities.

PENGARUH GPM, DER DAN EPS TERHADAP HARGA SAHAM PADA PT. ADHI KARYA (PERSEROAN), TBK YANG TERCATAT DI BURSA EFEK INDONESIA

The purpose of this study was to analyze the effect of Gross Profit Margin, Debt to Equity Ratio and Earning Per Share on stock prices at PT Adhi Karya Tbk period 2013-2020. The data collection method used in this study is secondary data. The type of data used in writing this thesis is quantitative data, namely the financial statements of PT Adhi Karya Tbk period 2013-2020. Financial statement management uses IMB SPSS version 22. The data analysis methods used in this research are financial ratio analysis, descriptive analysis, classical assumption test, model feasibility test, and causality effect test. From the results of the study it can be concluded that GPM (X1) partially has a significant effect on stock prices (Y), while DER (X2) and EPS (X3) partially have no significant effect on stock prices (Y). From the results of the F test, GPM, DER and EPS simultaneously have a significant effect on stock prices. And based on the coefficient of determination test shows a value of 0.727 which explains that GPM, DER and EPS affect stock prices by 72.7% while the remaining 27.3% is influenced by other factors not examined in this study.

Pengaruh Manajemen Rantai Pasok Terhadap Daya Saing Dan Kinerja Perusahaan Jasa Konstruksi Perseroan Terbatas Adhi Karya (Persero) Terbuka Medan

The purpose of this study was to determine the effect of supply chain management on the competitiveness and performance of construction service company PT Adhi Karya (Persero) Tbk. This type of research is the associative type, the population in this study is the entire financial report of PT Adhi Karya. The sample in this study is Adhi Karya's 2010-2020 quarterly financial statements. The type of data used in this research is quantitative data. Sources of data used are secondary data sources. The data collected were analyzed by simple linear regression with a test using SPSS 26.0. The results of this study indicate that supply chain management has a positive and significant impact on the competitiveness of the construction service company PT Adhi Karya (Persero) Tbk. This means that if the supply chain value is better for the company, it will increase the competitiveness of Adhi Karya's company, and vice versa, if the company's value or policy in supply chain management is lower, it will reduce the level of competitiveness faced by the company. Supply Chain Management has a positive and significant effect on the performance of the Construction Services company PT Adhi Karya (Persero) Tbk. This means that the better the supply chain management of the company, the better the influence on the company's performance.

Penentuan Harga Beli Opsi Asia Menggunakan Monte Carlo-Antithetic Variate dan Monte Carlo-Control

Math is applicable in many fields, including financial computing and discussing options. Options are contracts between two parties. The first part acts as a buyer with non-obligatory rights to buy or sell from the second party, who act as the seller with particular assets of predetermined time and price. This research aims to compare the monte Carlo-Antithetic Variate and monte Carlo-Control Variate in determining the purchase price of the Asian option. This study uses data from the closing price of the daily stock of PT Adhi Karya Tbk from October 1st, 2018 – to November 27th, 2019. The findings revealed varying option prices and different error standards. The Antithetic Variate simulation produces option price Rp. 246,6821 and error standard 0,071495 in 10000000th simulation and the Control Variate simulation produce option price Rp. 183,2139 and error standard 0,09716 in the 5000th simulation. The result was that the Control Variate was considered better at determining Asian option purchase price because of the smaller option and faster error standard in approaching zero.

ANALISIS FINANCIAL DISTRESS PADA PT. WIJAYA KARYA DAN PT. ADHI KARYA YANG TERDAFTAR SEBAGAI PERUSAHAAN BUMN INDONESIA

This study aims to provide empirical evidence related to the potential for financial distress experienced by State-Owned Enterprises. Through this research, a description of the potential financial distress experienced by PT Wijaya Karya (Persero) Tbk and PT Adhi Karya (Persero) Tbk can be obtained during the period 2010 - 2019. The Financial distress prediction model uses the Altman Model (Z-Score) and Springate Model (S-Score). The results show that from 2010 – 2019, PT Wijaya Karya (Persero) Tbk is still in a healthy condition so that the possibility of going bankrupt is very small. However, year by year, the condition of PT Wijaya Karya (Persero) Tbk is still in a gray condition where in this condition the company is prone to bankruptcy and experiencing financial problems that must be handled by the company's management appropriately. Meanwhile, PT Adhi Karya (Persero) from 2010 – 2019 showed the potential for financial distress which was strengthened by an unhealthy balance sheet because most of the funding sources came from debt. This study shows that the potential for financial distress arises because of a shift in government policy in development

ANALYSIS OF THE EFFECT OF WORKING PERIOD AND LMX QUALITY PERCEPTION ON JOB SATISFACTION AND ORGANIZATIONAL COMMITMENT AND THEIR IMPACT ON OCB OF PT. ADHI PERSADA BETON IN ACEH

This study was conducted to determine and examine the analysis of the effect of working period and Perception of Leader-Member Exchange (LMX) Quality on job satisfaction and organizational commitment and their impact on organizational citizenship behavior (OCB) of employees of PT Adhi Persada Beton in Aceh Besar. The population was all employees of PT Adhi Persada Beton totaling 473 employees. The sample was determined using cluster random sampling and the Slovin formula and obtained 216 employees as a sample. Data was collected using a questionnaire through the google form application. The research model was analyzed using SEM-AMOS. The descriptive hypothesis test results show that all variables are good. The result of the direct influence hypothesis test shows that the working period affects satisfaction, LMX Quality Perception affects commitment, LMX Quality Perception affects OCB, satisfaction affects OCB, and commitment affects OCB. The result of the indirect effect hypothesis test proves that satisfaction mediates the working period affects OCB, and commitment mediates LMX Quality Perception affects OCB. Satisfaction and commitment are proven to function as partial mediators. Thus, the results prove that the OCB improvement model at PT. Adhi Persada Beton is a function of the length of the working period, improving LMX quality, increasing satisfaction, and strengthening commitment.