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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