Tanggung Jawab Sosial Perusahaan
Corporate Social Responsibility
91
PT Voksel Electric Tbk.
Annual Report 2020
ANALISIS DAN PEMBAHASAN
MANAJEMEN
MANAGEMENT DISCUSSION
AND ANALYSIS
Tata Kelola Perusahaan
Corporate Governance
KEMAMPUANMEMBAYAR UTANG
DAN KOLEKTIBILITAS PIUTANG
SOLVENCY AND RECEIVABLES COLLECTIBILITY
Kemampuan Membayar Utang
Solvency
Kolektibilitas Piutang
Receivables Collectibility
Kemampuan
Perseroan
dalam
memenuhi
seluruh
kewajibannya diukur menggunakan rasio solvabilitas
dengan membandingkan total liabilitas terhadap total
ekuitas, dan membandingkan total liabilitas terhadap total
aset. Di tahun 2020, Perseroan mempunyai rasio solvabilitas
sebesar 162,17% lebih rendah dari tahun 2019 yang
sebesar 172,88%. Hal tersebut disebabkan karena adanya
reklasifikasi utang sewa. Di sisi lain, walaupun perindustrian
di Indonesia mengalami perlemahan ekonomi akibat dari
pandemi COVID-19, Perseroan mampu membayarkan bunga
obligasi tepat waktu dibandingkan dengan perusahaan-
perusahaan lain yang harus melakukan Rapat Umum
Pemegang Obligasi (RUPO) karena tidak mampu membayar
bunga atau kewajiban obligasinya.
Tingkat kemampuan Perseroan untuk memenuhi seluruh
liabilitas jangka pendeknya diukur menggunakan rasio
likuiditas dengan membandingkan total aset lancar dengan
total liabilitas jangka pendek yang dimiliki Perseroan. Rasio
lancar di tahun 2020 sebesar 184,06%, sehingga nilai aset
lancar yang dimiliki Perseroan lebih besar 1,84 kali dari
utang lancar. Adanya peningkatan likuiditas Perseroan di
tahun 2020 disebabkan oleh penurunan kas dan setara
kas dan reklasifikasi utang sewa. Peningkatan likuiditas
berarti terdapat peningkatan kemampuan Perseroan untuk
melunasi utang jangka pendek dan efisiensi perusahaan
dalammenggunakan aset lancar selama tahun 2020.
The Company’s ability to settle all of its obligations are
measured through solvency ratio by comparing the total
liabilities and total equity, and comparing total liabilities
with total assets. In 2020, the Company’s solvency ratio was
162.17% lower than in 2019 which was 172.88%. This was
due to the reclassification of finance lease. On the other
hand, although industries in Indonesia were slowing down
due to the COVID-19 pandemic, the Company was also able
to pay bond interests on time, compared to other companies
that have to organize General Meeting of Bondholders (GMB)
due to unable to pay their interest or bond obligation.
The Company’s ability to settle all short-term liabilities
are measured through liquidity ratio, by comparing the
Company’s total current assets with total current liabilities.
Current ratio in 2020 was 184.06%, which means that the
Company’s current assets are 1.84 times higher than current
liabilities. The increase in the Company’s liquidity in 2020
was due to the decrease in cash and cash equivalent and
reclassification of finance lease. The increase of liquidity
means that there was an increase in the Company’s ability
to settle current liabilities and the Company’s efficiency in
utilizing current assets during 2020.
Pada tahun 2020, Perseroan memiliki tingkat kolektibilitas
piutang mencapai 190 hari, lebih lambat dibandingkan
dengan tahun sebelumnya yang sebesar 121 hari.
Perlambatan kolektibilitas piutang terjadi karena pada
tahun 2020 banyak pelanggan yang menunda pembayaran
dikarenakan adanya pandemi COVID-19.
In 2020, the Company’s collectability ratio of receivables was
190 days, slower than in the previous year which was 121
days. The slower receivables collectability ratio in 2020 was
due to many customers had to postpone their payment due
to the COVID-19 pandemic.
