Penerapan "Model Kebangkrutan Altman pada PT Lapindo International Tbk"

Diego Herdin Loekito

Abstract


     Emulation which progressively tighten these days obliging every company continue out for defend self him, continue expanded, and try avoided bankruptcy. Many sides studying cause of bankruptcy and how to avoid or prevent him. At this research of researcher wish to know the condition of finance at PT Lapindo International Tbk and apply model of Altman to know value possibility of bankruptcy or Z score at PT Lapindo International Tbk. Accurate problem by researcher is ( I) How many result of liquidity ratio, ratio profitability cumulative and firm of age, ratio profitability and ratio structure financial pursuant to model of Altman of period 2003-2005 at PT Lapindo International Tbk? (2) How many possibility score the happening of bankruptcy at PT Lapindo International Tbk pursuant to technique of multi discrimination of counted Altman pursuant to ratios
of period 2003-2005?


     PT Lapindo International Tbk is business concern and industry is so that used by model of Altman first modification at company of go public. First modification at company of
go public done to extend usage of model for manufacturing business and trade. According to model of Altman first modification at company of go public a company earn predicted will experiencing of bankruptcy a period to come if yielded Z’ Score smaller than 1.81. A company earn protected from bankruptcy if yielded Z’ score bigger than 2.99. If yielded Z' score reside in between 1.81 until 2. 99 hence company can not be indicated (gray area).

     PT Lapindo International Tbk in the year 2004 is not experiencing of bankruptcy and in the year 2003 and 2005 company is can not be indicated (gray area). From result of
calculation Z' score at PT Lapindo International Tbk in the year 2005 showing situation of company not better in the situation years company before all, although company make an attempt on repair but do not give repair at company.

Keywords: Bankruptcy, Model Altman, Z’ score, and PT Lapindo International.


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