Positive Growth for Transportation Services in Balikpapan Despite the Covid-19 Pandemic


15 Mar 2021


Dilansir Oleh


Despite the economic challenges posed by the Covid-19 pandemic, Transkon Jaya Tbk, a transportation service company in Balikpapan, has recorded an increase in profits throughout 2020. Irene Catherine, Head of Finance, attributes this success to the company’s early and thorough business mitigation measures implemented before the Covid-19 outbreak.

Transkon Jaya regularly monitors its financial performance through slips from the Financial Services Authority (OJK), demonstrating the company’s commitment to maintaining a healthy cash flow. Irene mentioned that, until now, the company has never failed to meet its financial obligations.

The company’s performance is further evident in its timely submission of financial reports. Looking at the debt to equity ratio, Transkon consistently experiences a decrease, indicating a lower reliance on debt. The company’s debt has also been decreasing, reflecting its ability to meet financial obligations promptly.

Saskya Clarissa, Head of Reporting at Transkon Jaya, emphasized that this positive financial condition is a key consideration for investors. Investors generally favor companies with low dependence on debt. Additionally, the company’s positive financial performance is reflected in the decline in interest rates, contributing to an increase in net profit.

Transkon Jaya is still in the process of preparing its financial report for the fourth quarter of 2020, which is expected to be published at the end of March 2021. In the third quarter of 2020, the company’s price-earnings ratio (P/E ratio) stood at 5.11, indicating an attractive valuation for its shares.

This positive performance amid challenging economic conditions showcases Transkon Jaya’s resilience and strategic financial management during the Covid-19 pandemic, making it an appealing choice for investors.

Source : https://kaltim.tribunnews.com/2021/03/14/perusahaan-jasa-transportasi-di-balikpapan-terus-tumbuh-positif-meski-diguncang-pandemi-covid-19?page=all