11 PT. Pioneerindo Gourment International Tbk. S 10

Lampiran i Daftar Populasi dan Sampel No. Nama Perusahaan Kriteria 1 2 3 Sampel 1 PT Akasha Wira International - - 2 PT. Tiga Pilar Sejahtera Food S 1 3 PT. Aqua Golden Mississippi S 2 4 PT. Cahaya Kalbar S 3 5 PT. Delta Djakarta S 4 6 Fast Food Indonesia S 5 7 PT. Indofood Sukses Makmur S 6 8 PT. Multi Bintang Indonesia S 7 9 PT. Mayora Indah S 8 10 PT. Prasidha Aneka Niaga S 9 11 PT. Pioneerindo Gourment International S 10 12 PT. Sierad Produce S 11 13 PT. Sekar Bumi S 12 14 PT Sekar Laut - - 15 PT. SMART S 13 16 PT. Siantar Top S 14 17 PT. Tunas Baru Lampung S 15 18 PT. Ultrajaya Milk S 16

Lampiran ii Perhitungan Working Capital to Total Assets Ratio (X1) Aktiva Lancar Kewajiban Lancar Total Aktiva X1 Perusahaan 2006 2007 2008 2006 2007 2008 2006 2007 2008 2006 2007 2008 PT. Tiga Pilar Sejahtera Food 170.645. 272.205. 322.793. 157.840. 300.263. 364.579. 363.933. 792.690. 1.016.958. 0,035185048-0,03539593-0,041089209 PT. Aqua Golden Mississippi 527.137. 564.787. 660.532. 73.395. 79.642. 84.482. 795.244. 891.530. 1.003.488. 0,570569536 0,544171256 0,574047722 PT. Cahaya Kalbar 193.984. 456.316. 407.327. 78.391. 335.769. 55.414. 280.807. 613.680. 604.642. 0,411645721 0,196432994 0,582018781 PT. Delta Djakarta 413.036. 432.547. 544.237. 110.184. 103.664. 143.621. 571.243. 592.359. 698.297. 0,53016317 0,555208919 0,573704312 PT. Fast Food Indonesia 158.552. 240.825. 314.520. 148.045. 187.833. 228.083. 483.575. 629.491. 784.759. 0,021727757 0,0841823 0,110144643 PT. Indofood Sukses Makmur 7.474.20 11.809.12 14.598.42 6.324.30 12.888.67 16.262.16 16.267.48 29.706.895 39.594.26 0,070687272-0,036339981-0,042019698 5. 9. 2. 1. 7. 1. 3.. 4. PT. Multi Bintang Indonesia 198.646. 228.688. 524.813. 375.933. 386.816. 561.144. 610.437. 621.835. 941.389. -0,290426367-0,254292537-0,038592973 PT. Mayora Indah 796.223. 1.043.843. 1.684.853. 203.673. 555.773. 769.800. 1.553.377. 1.893.175. 2.922.998. 0,381459234 0,25780501 0,3130529 PT. Prasidha Aneka Niaga 144.903. 162.849. 156.676. 66.671. 73.224. 56.299. 288.085. 291.723. 286.965. 0,271558741 0,307226376 0,349788302 PT. Pioneerindo Gourmet International 33.143. 31.554. 32.715. 16.865. 21.685. 30.085. 75.759. 74.009. 81.755. 0,214865561 0,133348647 0,032169286 PT. Sierad Produce 436.225. 650.885. 752.241. 115.042. 270.544. 329.378. 1.113.796. 1.294.773. 1.384.707. 0,288367888 0,293751105 0,30538085 PT. Sekar Bumi 48.598. 69.560. 95.816. 158.481. 170.431. 202.654. 188.921. 185.055. 189.505. -0,581634652-0,545086596-0,563774043 PT. SMART 1.672.73 3.766.818. 4.709.462. 1.089.63 2.189.600. 2.734.320. 5.311.931. 8.063.169. 10.025.91 0,109771945 0,195607707 0,197003645 4. 3. 6. PT. Siantar Top 221.724. 204.499. 271.633. 82.350. 115.605. 221.491. 467.491. 517.448. 626.750. 0,298131943 0,171793108 0,080003191 PT. Tunas Baru Lampung 662.858. 981.997. 1.119.783. 448.132. 542.011. 1.014.802. 2.049.163. 2.457.120. 2.802.497. 0,104787174 0,179065735 0,037459808 PT. Ultrajaya Milk 421.543. 551.947. 826.610. 355.876. 232.731. 445.866. 1.249.080. 1.362.830. 1.740.646. 0,052572293 0,234230241 0,218737181

Lampiran iii Perhitungan Retained Earnings to Total Assets Ratio (X2) Laba Ditahan Total Aktiva X2 Perusahaan 2006 2007 2008 2006 2007 2008 2006 2007 2008 PT. Tiga Pilar Sejahtera Food -174.565 80.465-202.061 363.933 792.690 1.016.958-0,479662465 0,101508787-0,198691588 PT. Aqua Golden Mississippi 425.333 485.377 559.794 795.244 891.530 1.003.488 0,534845909 0,544431483 0,557848225 PT. Cahaya Kalbar -59.237-34.560-6.693 280.807 613.680 604.642-0,210952718-0,056315995-0,01106936 PT. Delta Djakarta 396.890 423.404 484.739 571.243 592.359 698.297 0,694783131 0,714776006 0,69417311 PT. Fast Food Indonesia 241.329 329.790 433.951 483.575 629.491 784.759 0,499051853 0,523899468 0,552973588 PT. Indofood Sukses Makmur 2.907.998 5.064.084 6.122.973 16.267.483 29.706.895 39.594.264 0,178761398 0,170468304 0,15464293 PT. Multi Bintang Indonesia 175.589 174.851 321.306 610.437 621.835 941.389 0,287644753 0,281185523 0,341310553 PT. Mayora Indah 521.972 634.291 797.605 1.553.377 1.893.175 2.922.998 0,33602403 0,33504087 0,272872236 PT. Prasidha Aneka Niaga -689.582-698.228-626.591 288.085 291.723 286.965-2,393675478-2,393462291-2,183510184 PT. Pioneerindo Gourmet International -116.218-115.231-111.493 75.759 74.009 81.755-1,53404876-1,556986312-1,363745337 PT. Sierad Produce -2.437.186-2.415.955-2.388.702 1.113.796 1.294.773 1.384.707-2,188179882-1,865929395-1,725059525 PT. Sekar Bumi -654.332-669.007-696.475 188.921 185.055 189.505-3,46352179-3,615179271-3,675232843 PT. SMART 340.304 1.291.335 2.378.293 5.311.931 8.063.169 10.025.916 0,064064085 0,160152292 0,237214535 PT. Siantar Top 211.726 227.320 232.137 467.491 517.448 626.750 0,452898558 0,439309844 0,37038213 PT. Tunas Baru Lampung 175.462 241.109 210.567 2.049.163 2.457.120 2.802.497 0,08562618 0,098126669 0,075135495 PT. Ultrajaya Milk 185.992 202.350 506.517 1.249.080 1.362.830 1.740.646 0,148903193 0,1484778 0,290993689

Lampiran iv Perhitungan Earnings Before Interest and Taxes to Total Assets Ratio (X3) Pendapatan Sebelum Pajak & Bunga Total Aktiva X3 Perusahaan 2006 2007 2008 2006 2007 2008 2006 2007 2008 PT. Tiga Pilar Sejahtera Food 1.195 38.022 52.975 363.933 792.690 1.016.958 0,003283571 0,047965787 0,05209163 PT. Aqua Golden Mississippi 79.794 95.821 118.000 795.244 891.530 1.003.488 0,100339015 0,107479277 0,117589847 PT. Cahaya Kalbar 19.427 36.140 42.124 280.807 613.680 604.642 0,069182748 0,058890627 0,069667671 PT. Delta Djakarta 60.756 66.622 117.738 571.243 592.359 698.297 0,10635754 0,112468959 0,16860734 PT. Fast Food Indonesia 95.967 144.161 167.904 483.575 629.491 784.759 0,198453187 0,229012011 0,213956132 PT. Indofood Sukses Makmur 1.221.206 2.041.409 2.599.823 16.267.483 29.706.895 39.594.264 0,075070372 0,068718356 0,065661607 PT. Multi Bintang Indonesia 111.061 131.151 313.976 610.437 621.835 941.389 0,181936875 0,210909646 0,333524186 PT. Mayora Indah 141.744 209.828 274.070 1.553.377 1.893.175 2.922.998 0,091248937 0,110833917 0,093763321 PT. Prasidha Aneka Niaga 23.550 9.298 42.051 288.085 291.723 286.965 0,081746707 0,031872701 0,146537034 PT. Pioneerindo Gourmet International -1.768 1.364 6.888 75.759 74.009 81.755-0,023337161 0,018430191 0,084251728 PT. Sierad Produce 69.931 46.831 44.059 1.113.796 1.294.773 1.384.707 0,062786183 0,036169274 0,031818284 PT. Sekar Bumi 4.631-6.586-8.088 188.921 185.055 189.505 0,024512892-0,035589419-0,042679613 PT. SMART 630.758 1.512.324 1.478.928 5.311.931 8.063.169 10.025.916 0,118743636 0,187559507 0,147510512 PT. Siantar Top 21.009 23.257 3.678 467.491 517.448 626.750 0,044939903 0,044945579 0,005868369 PT. Tunas Baru Lampung 79.152 138.648 67.046 2.049.163 2.457.120 2.802.497 0,038626503 0,056427037 0,023923665 PT. Ultrajaya Milk 25.814 39.103 268.782 1.249.080 1.362.830 1.740.646 0,02066641 0,0286925 0,154415085

Lampiran v Perhitungan Market Value Equity to Book Value of Total Debt Ratio (X4) Nilai Pasar Ekuitas Total Liabilities X4 Perusahaan 2006 2007 2008 2006 2007 2008 2006 2007 2008 PT. Tiga Pilar Sejahtera Food 249.500 249.500 374.900 268.636 442.098 625.913 0,928766063 0,56435451 0,598965032 PT. Aqua Golden Mississippi 13.162 13.162 13.162 342.897 377.577 412.466 0,038384704 0,034859115 0,031910509 PT. Cahaya Kalbar 148.750 148.750 148.750 86.446 394.642 357.737 1,720727391 0,376923896 0,415808261 PT. Delta Djakarta 16.013 16.013 16.013 137.928 131.545 174.316 0,116096804 0,121730206 0,091861906 PT. Fast Food Indonesia 44.625 44.625 44.625 195.366 252.133 302.214 0,228417432 0,176989922 0,147660267 PT. Indofood Sukses Makmur 944.419 944.419 878.043 10.575.307 18.794.518 26.435.324 0,089304169 0,050249706 0,033214762 PT. Multi Bintang Indonesia 21.070 21.070 21.070 411.907 424.028 597.123 0,051152323 0,049690115 0,035285862 PT. Mayora Indah 383.292 383.292 383.292 562.445 785.034 1.646.322 0,681474633 0,488248917 0,232817152 PT. Prasidha Aneka Niaga 720.000 720.000 720.000 172.747 178.414 151.922 4,167945029 4,035557748 4,739274101 PT. Pioneerindo Gourmet International 110.404 110.404 110.404 71.202 69.144 73.508 1,550574422 1,596725674 1,501931763 PT. Sierad Produce 3.184.292 3.184.292 3.184.292 128.990 288.737 351.417 24,68634778 11,0283476 9,061291856 PT. Sekar Bumi 608.137 608.137 608.137 173.060 185.089 217.184 3,514024038 3,285646365 2,800100376 PT. SMART 574.439 574.439 574.439 2.734.706 4.534.913 5.406.234 0,210055121 0,126670346 0,106254927 PT. Siantar Top 131.000 131.000 131.000 124.466 1.588.280 263.313 1,052496264 0,08247916 0,49750677 PT. Tunas Baru Lampung 515.526 520.397 521.258 1.183.409 1.518.219 1.908.928 0,435627919 0,342768072 0,273063206 PT. Ultrajaya Milk 577.676 577.676 577.676 433.177 530.492 603.996 1,333579576 1,088943848 0,956423552

Lampiran vi Perhitungan Sales to Total Assets Ratio (X5) Penjualan Total Aktiva X5 Perusahaan 2006 2007 2008 2006 2007 2008 2006 2007 2008 PT. Tiga Pilar Sejahtera Food 333.455 483.734 489.172 363.933 792.690 1.016.958 0,916253816 0,610243601 0,481014949 PT. Aqua Golden Mississippi 1.683.721 1.952.156 2.331.532 795.244 891.530 1.003.488 2,117238231 2,189669445 2,323427884 PT. Cahaya Kalbar 391.062 812.635 1.963.638 280.807 613.680 604.642 1,392636223 1,324199909 3,247604368 PT. Delta Djakarta 396.733 439.823 673.770 571.243 592.359 698.297 0,694508292 0,742493994 0,964875977 PT. Fast Food Indonesia 1.276.416 1.589.643 2.022.633 483.575 629.491 784.759 2,639540919 2,525283126 2,577393824 PT. Indofood Sukses Makmur 21.941.558 27.858.304 38.799.279 16.267.483 29.706.895 39.594.264 1,348798582 0,937772325 0,979921713 PT. Multi Bintang Indonesia 891.001 978.600 1.325.661 610.437 621.835 941.389 1,459611721 1,573729366 1,408196824 PT. Mayora Indah 1.971.513 2.828.440 3.907.674 1.553.377 1.893.175 2.922.998 1,269178699 1,494019306 1,336871938 PT. Prasidha Aneka Niaga 519.849 600.060 713.114 288.085 291.723 286.965 1,804498672 2,056951286 2,485020821 PT. Pioneerindo Gourmet International 145.440 163.777 207.324 75.759 74.009 81.755 1,919771908 2,212933562 2,535918292 PT. Sierad Produce 1.111.242 1.632.454 2.331.686 1.113.796 1.294.773 1.384.707 0,997706941 1,260803245 1,683884027 PT. Sekar Bumi 271.721 353.194 563.956 188.921 185.055 189.505 1,438278434 1,908589338 2,975942587 PT. SMART 4.708.250 8.079.714 16.094.425 5.311.931 8.063.169 10.025.916 0,886353757 1,002051923 1,605282251 PT. Siantar Top 555.208 600.330 624.401 467.491 517.448 626.750 1,187633559 1,160174549 0,996252094 PT. Tunas Baru Lampung 1.193.999 1.844.207 3.955.846 2.049.163 2.457.120 2.802.497 0,582676439 0,750556342 1,411543349 PT. Ultrajaya Milk 835.230 1.126.800 1.362.607 1.249.080 1.362.830 1.740.646 0,668676146 0,82680892 0,782816839

Lampiran vii Rata-rata Rasio Keuangan Altman X1 X2 X3 X4 X5 Perusahaan 2006 2007 2008 2006 2007 2008 2006 2007 2008 2006 2007 2008 2006 2007 2008 PT. Tiga Pilar Sejahtera Food 0,0351-0,0353-0,0411-0,4796 0,1015-0,1986 0,0032 0,0479 0,0521 0,9287 0,5643 0,5989 0,9162 0,6102 0,4810 PT. Aqua Golden Mississippi 0,5705 0,5441 0,5740 0,5348 0,5444 0,5578 0,1003 0,1074 0,1175 0,0383 0,0348 0,0319 2,1172 2,1896 2,3234 PT. Cahaya Kalbar 0,4116 0,1964 0,5820-0,2109-0,0563-0,0111 0,0691 0,0588 0,0696 1,7207 0,3769 0,4158 1,3926 1,3241 3,2476 PT. Delta Djakarta 0,5301 0,5552 0,5737 0,6947 0,7147 0,6941 0,1063 0,1124 0,1686 0,1161 0,1217 0,0918 0,6945 0,7424 0,9648 PT. Fast Food Indonesia 0,0217 0,0841 0,1101 0,4991 0,5238 0,5529 0,1984 0,2290 0,2139 0,2284 0,1769 0,1476 2,6395 2,5252 2,5773 PT. Indofood Sukses Makmur 0,0706-0,0363-0,0420 0,1787 0,1704 0,1546 0,0751 0,0687 0,0656 0,0893 0,0502 0,0332 1,3487 0,9377 0,9799 PT. Multi Bintang Indonesia -0,2904-0,2542-0,0385 0,2876 0,2811 0,3413 0,1819 0,2109 0,3335 0,0511 0,0496 0,0352 1,4596 1,5737 1,4081 PT. Mayora Indah 0,3814 0,2578 0,3130 0,3360 0,3350 0,2728 0,0912 0,1108 0,0937 0,6814 0,4882 0,2328 1,2691 1,4940 1,3368 PT. Prasidha Aneka Niaga 0,2715 0,3072 0,3497-2,3936-2,3934-2,1835 0,0817 0,0318 0,1465 4,1679 4,0355 4,7392 1,8044 2,0569 2,4850 PT. Pioneerindo Gourmet 0,2148 0,1333 0,0321-1,5340-1,5569-1,3637-0,0233 0,0184 0,0842 1,5505 1,5967 1,5019 1,9197 2,2129 2,5359 International PT. Sierad Produce 0,2883 0,2937 0,3053-2,1881-1,8659-1,7251 0,0627 0,0361 0,0318 24,686 11,028 9,0612 0,9977 1,2608 1,6838 PT. Sekar Bumi -0,5816-0,5450-0,5637-3,4635-3,6151-3,6752 0,0245-0,0355-0,0426 3,5140 3,2856 2,8001 1,4382 1,9085 2,9759 PT. SMART 0,1097 0,1956 0,1970 0,0640 0,1601 0,2372 0,1187 0,1875 0,1475 0,2101 0,1266 0,1062 0,8863 1,0021 1,6052 PT. Siantar Top 0,2981 0,1717 0,0800 0,4528 0,4393 0,3703 0,0449 0,0449 0,0058 1,0524 0,0824 0,4975 1,1876 1,1602 0,9963 PT. Tunas Baru Lampung 0,1047 0,1791 0,0374 0,0856 0,0981 0,0751 0,0386 0,0564 0,0239 0,4356 0,3427 0,2731 0,5826 0,7505 1,4115 PT. Ultrajaya Milk 0,0525 0,2342 0,2187 0,1489 0,1484 0,2909 0,0206 0,0286 0,1544 1,3335 1,0889 0,9564 0,6686 0,8268 0,7828

Lampiran viii Hasil Perhitungan Rasio Z-Score Altman Tahun 2006 2008 Rasio Z-score Altman Perusahaan 2006 2007 2008 PT. Tiga Pilar Sejahtera Food 0,933658681 1,055680769 0,695714189 PT. Aqua Golden Mississippi 3,302991492 3,385173305 3,58162476 PT. Cahaya Kalbar 2,443980283 1,755975533 4,040137801 PT. Delta Djakarta 2,040941115 2,14507682 2,524701847 PT. Fast Food Indonesia 3,785066932 3,810210204 3,846360389 PT. Indofood Sukses Makmur 1,81894606 1,288840476 1,296777121 PT. Multi Bintang Indonesia 2,078853744 2,302584415 2,717879015 PT. Mayora Indah 2,394488759 2,509082602 2,17888575 PT. Prasidha Aneka Niaga 1,972678093 2,039818871 3,327201553 PT. Pioneerindo Gourmet International 1,34938437 1,713238655 2,291400992 PT. Sierad Produce 9,912425681 4,63274291 4,342950899 PT. Sekar Bumi -0,363181473-0,278716624 0,496279095 PT. SMART 1,474709442 1,91189647 2,447186241 PT. Siantar Top 2,364300683 1,827412457 1,592521408 PT. Tunas Baru Lampung 1,032145135 1,279840044 1,688236083 PT. Ultrajaya Milk 1,45546809 1,665363095 2,06602298