| This research analyzes the bonds Fair Market Price that are issued by PT Jasa Marga Tbk for the period 2009-2011. PT Jasa Marga Tbk is the pioneer company and also the biggest in the Highway business industry in Indonesia, it's line of business are managing, maintaining, and establishing highways. The company was grounded in the 1st of March 1978 and is located in Jakarta. The company has already entered the bond markets since 1983. In this research paper the analyzes of the bonds FMP is conducted using two methods, which are: (1) Yield to Maturity (YTM) method and (2) Present Value (PV) method.The result of the analysis from PT Jasa Marga Tbk bonds are as follow: for the end of June 2009 bond XI (P) is underpriced, bond XII (Q) is underpriced, and bond XIII (R) is overpriced, for the end of December 2009 bond XI (P) is underpriced, bond XII (Q) is underpriced, and bond XIII (R) is overpriced, for the end of June 2010 bond XI (P) is overpriced, bond XII (Q) is underpriced, and bond XIII (R) is overpriced, and for the end of December 2010 all bond are overpriced, and for the end of June 2011 the bonds value for bond XI (P) is overpriced, bond XII (Q) is underpriced, and bond XIII (R) is overpriced. |