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A Systems View Across Time and Space

Table 3 Evaluation of H1 financial statement of SMGR

From: A failure innovation strategy of acquisition during excess capacity: financial approach based on case study at the state-owned cement holding PT Semen Indonesia (Persero) Tbk

 

H1-2019

H1-2018

Assets

Rp 77 trillion (US$5,500 million)

Rp 51 trillion (US$3,642.86 million)

Debts’ interest

Rp 1.272 trillion (US$90.86 million)

Rp 336 billion (US$24 million)

Total debts

Rp 45 trillion (US$3,214.29 million)

Rp 18 trillion (US$1,285.71 million)

Cash

−Rp 130 million (−US$9.29 million)

Rp 1.5 trillion (US$107.14 million)

Net profit

Rp 481 billion (US$34.29 million)

Rp 965 billion (US$68.93 million)

Impact to SBI

−Rp 279 billion (US$19.93 million)

−Rp 539 billion (-US$38.5 million)

Comment

SBI improved but SMGR sacrificed

 
  1. Source: Author’s taken based on the published annual report