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ANALISIS FINANCIAL DISTRESS MENGGUNAKAN MODEL SPRINGATE PADA PERUSAHAAN MANUFAKTUR SUB-SEKTOR TEKSTIL DAN GARMEN

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ABSTRACT AN ANALYSIS OF FINANCIAL DISTRESS USING SPRINGATE MODEL AT MANUFACTURER COMPANY SUB-SECTOR TEXTILE AND GARMENT Written by: Inggrid Chintya Sabatini Silalahi NIM: 1232164 This study aimed to determine how the financial performance of company and the potential occurrence of financial distress in manufacturer company’s subsector textile and garment listed in Indonesia Stock Exchange during the period of 2013-2014 using Springate Model (S-Score). This study uses secondary data. The companies’ data were obtained from Indonesia Stock Exchange. The data analysis techniques used were analytical quantitative descriptive and Springate Model (S-score). The result of the study showed that financial performance analysis based on Springate Model (S-score) at manufacturing company in textile and garment sub-sector that in the year of 2013 and 2014, there are 14 companies listed in the category of financial distress, they are PT Polychem Indonesia Tbk, PT Argo Pantes Tbk, PT Century Textile Industry Tbk, PT Eratex Djaya Tbk, PT Ever Shine Tex Tbk, PT Panasia Indo Resources Tbk, PT Indo Rama Synthetics Tbk, PT Apac Citra CentertexTbk, PT Asia Pacific Fibers Tbk, PT Sunson Textile Manufacturer Tbk, PT Star Petrochem Tbk, PT Nusantara Inti Corpora Tbk, PT Unitex Tbk and PT Tifico Fiber Indonesia Tbk, and there are 4 companies were categorized non-distress, they are PT Pan Brothers Tbk, PT Ricky Putra Globalindo Tbk, PT Sri Rejeki Isman Tbk, PT Trisula International Tbk. Keywords: financial distress, springate mode, textile and garment