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Research Problem Identification
Research Problem Identification
I. INTRODUCTION
1.1. Background
In the General Explanation section of the Law No.19 of 2013 regarding SOE No.VII, with regard
to the nature of business of SOEs which are (1) to foster profit and (2) to carry out public benefit,
SOE is simplified into two forms. The first is Limited Liability Company (Persero) which aims to
foster profit and the second is Public Company (Perum) that conducting public service, yet should
be sought for profit to sustain their operation.
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the state, deliver better product and services at competitive prices to consumers
and facilitate the implementation of privatization2
By most managers, restructuring usually considered as a negative
condition that could be a symptom of the business declining, where companies
are forced to react to face the competition changes and the financial condition
declining (Adrianti, 2004). However, restructuring can also be a compannys
anticipation strategy to face competition in the future, through drastical changes in
order to reach or maintain a sustainable business growth.
One of the SOE who will have to face increasingly tight competition in the
future is PT. ASDP Indonesia Ferry (Persero). Post-issuance of Law 17 of 2008
regarding Voyage and Government Regulation 61 of 2009 regarding Ports, ASDP
Indonesia Ferry should be ready to compete with the private company domestic
and foreign in ferry ports business sectors. Both of the rules are encourage
private enterprises to invest and manage ports in Indonesia by establish a Port
Business Entitity ( Badan Usaha Pelabuhan) that already obtained a license
from The Ministry of Transportation.3
Business competition environment in the port management sector will be
more intense if the revised Negative List of Investment (DNI) be published in
the near future. One of the revisions, is to remove port business sector from DNI
and foreign capital ownership will be allowed up to 100% 4 . In addition to
potential threat from external competition, PT. ASDP Indonesia Ferry (Persero)
also must respond to customers who are more critical and demanding, particularly
regarding demand for maximum services from the service provider.
In order to fulfill the customers satisfaction and also to accelerate the
company's growth, a company restructuring strategies that is tailored to the
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company's position in the present and in the future is seems important. With this
regards, the company functions as a service provider for the community and a
business functions remain intact. Spin-off might be an alternatif of restructuring
method for company in orderor to achieve high level of customer satisfaction as
well as to accelerate the company's growth.
PT. ASDP Indonesia Ferry (Persero) core businesses, currently categorize
in two field: (a) managing ferry transportation services, and (b) managing ferry
ports services. Those two field is divided into four business segment which
becomes the source companys revenue are:
a) Commercial Ferry Transportation Business: transportation for passengers,
vehicles and goods
b) Pioneer Ferry Transportation Business: transportion for passenger, vehicles and
goods in the remote area that fund government subsidy
c) Ferry Ports Business: ferry ports management and utilization for operational
(transportion) purposes
d) Other Service Business: ferry ports utilization for non-operational purpose
Refering to the Indonesias Central Bureau of Statistics data in 2012, ferry
transportation industry of 2012 has a market capitalization up to Rp. 3.289 trillion.
From that market capitalization, PT. ASDP Indonesia Ferry (Persero) has enjoyed
market share of 25.56% 5 , and the rest enjoyed by some private operators.
Meanwhile, in the ferry port business, it could be said that PT. ASDP Indonesia
Ferry (Persero) is still a single player within industry that controls nearly 100%
market share.
The company's main revenue comes from Transportation Business
Segmentboth commercial and pioneering business. In the last three year, this
segment revenue contribute average of 60% of total revenue. Unfortunately, the
biggest contribution to companys operational income is come from Port Business
Segment (include other service businness) segment that contribute 62,2%. Detail
contribution from each business seghemnt depict in Tabel 1.1.
The total achieved market share in 2012 contributed by the commercial transportation business
amounted to 18.39%, and pioneer transportation business as much 6.17%. Rencana Kerja dan
Anggaran Perusahaan PT. ASDP Indonesia Ferry (Persero) Tahun 2013
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Table 1.1. Business Segment Contribution to PT. ASDP Indonesia Ferry (Persero)
Revenues, Expenses & Operational Income 2010-2012
PT. ASDP Indonesia Ferry (Persero) have two core business segment as
source of revenue, which are Ferry Transportation Business dan Port Service
Business In last three year, both segment has same level of operational
performance, and also give not to far different contribution to companys financial
and operational performance as a whole.
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Chapter I: Introduction
This chapter contains the background, problem identifications, research objectives
and benefits, and writing systematic
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