53 research outputs found
The Effect Soekarno-Hatta - Jakarta Railway Train Project to PT. Kereta Api Indonesia Financial Performance
No full textSoekarno-Hatta is the largest and busiest airport in Indonesia. So far, the transportation route in and out of the airport is only via the highway road (toll or non-toll) that will pass ring road Jakarta. Currently, the growth of vehicles in Jakarta is very surprising to cause severe traffic jam. The traffic jam that often occured is also affected either directly or indirectly to the traffic conditions and from the Soekarno-Hatta Airport. Indonesia Government through Presidential Decree number 83 of 2011 assigned PT Indonesia Railway to build railway transportation infrastructure through a circular route Jakarta to Soekarno Hatta. The purpose is to develop alternative transportation to help reduce transport problems in the future. For PT KAI itself, as the government-owned company that has a public service obligation (PSO), the project must be done, but there will be a question of whether this project will give positive or negative impact for the company in the future, especially in terms of financial performance. Therefore, to analyze the velua added of this project, the future financial statements between if PT KAI do the project and if they don’t do the project must be compared. As a first step analyzed the financial condition of PT KAI current through the analysis of time series, cross section, a ranking based on two methodologies (BUMN & Moody's), and the current capital structure. Furthermore, the feasibility and demand analysis of the project will be presented as information. To determine how much value the project given, the projected consolidated financial statements and financial statement projections of the project will be conducted. Next step will compare and analyze the results of these projections, which are the consolidated financial statements without a project with projected financial statements consolidation plus project. From the results of the comparison will be observed whether the project also increased ratings of PT KAI. This research provides business solutions to PT KAI to improve financial performance and corporate value by increasing the financial indicators and investment rating. In the end, the project can be roled as a business solution in the future Keywords: Railway Train, Capital Structure, Project Investment, Financial Performanc
Financial Performance Analysis of PT Waskita Karya Related to Its Initial Public Offerings Stock Price and Future Prospect
No full textThis final project attempted to analyze Waskita Karya decision to get the fund from initial public offerings, analyzes the factors that caused Waskita Karya’s IPO share oversubscribed until 800%, analyze the prospect of Waskita Karya by forecasting its stock price at the end 2013 with using Discounted Cash Flow (DCF) and Relative Valuation method. Moreover, author also give recommendation for investor and management of Waskita Karya related to its capital structure in order to maximize its firm value. Keywords: Initial Public Offerings (IPO), Discounted Cash Flow method, Relative Valuation, Capital Structure, Construction Industry, State-Owned Compan
Synergy Calculation of PT Perusahaan Gas Negara’s Acquisition Plan toward PT Pertamina Gas: SCBTII Proceeding Book The 7th Smart Collaboration for Business in Tehcnology and Information Industries, August 15th-16th 2016
No full textRecently, the Ministry of State Owned Enterprises (SOE) is assigned to form six holding companies. The holding companies are expected to increase the efficiency and funding ability of SOE. Prior to the holding companies forming, it is beneficial that the company with same business line should be merged first, to ensure that there will be no overlap of the operational activity. The government planned to merge PT Perusahaan Gas Negara Tbk and PT Pertamina Gas to increase efficiency of national natural gas management. Due to many negative opinions and a lot of disapproval from the stakeholders, the acquisition process is still suspended. According to those facts, the purpose of this research is to propose a recommendation toward the acquisition decision that will be beneficial as the analysis before establishing holding company in energy sector. The author use macro and micro environmental analysis, discounted cash flow valuation, and synergy calculation to determine whether the acquisition is
beneficial or not. The financial data in this research are collected from the companies’ annual report from the last 5 years. The result of this research is that there is value of synergy after the acquisition, in the amount of $3,362,411,250. The value of synergy is built on the assumption that there will be operating synergy and financial synergy. The result of this research is the acquisition plan of PT Perusahaan Gas Negara toward PT Pertamina Gas is recommended to be conducted based from the
synergy generated.
Keyword: State Owned Enterprises; Acquisition; Merger; Discounted Cash Flow; Valuation; PT Perusahaan Gas Negara; PT Pertamina Gas; Synerg
FINANCIAL LITERACY AND RETIREMENT PLANNING AMONG WOMEN IN PRODUCTIVE AGE
No full textA survey conducted by World Bank Survey (2015) shows that Indonesia have a low financial literacy
level compared to other countries. We examine Financial Literacy and Saving Behavior among the
productive age in Jakarta, the capital city of Indonesia, and see the impact from both aspects to their
retirement preparedness. A survey was conducted using questionnaire in Jakarta with 226 respondents.
This research diversified respondents into three types of planners: Simple, Serious and Committed
Planner following Lusardi and Mitchell (2008) framework. Results of Logistics regression shows that
only saving behavior is significantly affect someone for being a simple and Serious Planner while high
financial literate people have higher probability to be a Committed Planner. Interestingly, we also found that
education and maturity factors such as Marital Status, Age, and having children also affect someone
preparedness for being a planner. The results also show women are lower in financial literacy level and
retirement planning preparedness compared to men
The Analysis of Risk and Return Comparation Between Silver, Gold, JKSE, and Property in Pasar Kemis, Sukamantri, Kutajay, Gelam Jaya and Kutabaru Wards in Kabupaten Tangerang for Long Term Investment
Get PDFNowadays, investment term has become a common word be heard and be talk of many people, from businessmen to students, even among the housewives. The understanding that the investment of capital or funds are placed in assets which are expected to provide benefits or the value will rise someday in the foreseeable future, it means investing is done by \u27sacrificing\u27 the potential of current consumption to get better opportunities or greater in the future. Generally, the purpose of investment is to fulfill the needs and desires in order to improve the quality of life. In order to achieve those needs and desires, then the investment is one of the best solution. Indonesia\u27s strong economic growth and favorable demographics make it a great country for investors, but there are several risks that investors should be aware of before committing any capital. There are several benefits of investing in Indonesia, Indonesia has strong historic growth. Indonesia has been one of the best performing investments throughout the world economic crisis that began in 2008. The types of investment instrument is quite widely and variously. It could be real or paper investment, such as stocks, bonds, mutual funds, precious metals, property, and even open your own real business. In this term, author will analyze risk and return of silver, gold, JKSE, and Pasar Kemis, Sukamantri, Kuta Jaya, Gelam Jaya, Kuta Baru Property in KPP Kosambi, Tangerang. Methodology used in this research are Problem Identification, Theoretical Foundation, Data Collection, Data Analysis, and the last step is Conclusion and Recommendation. These steps need to be conducted in order to complete the project. Basically, the writer want to analyze the risk and return and give the result to determine the highest return of instrument  investment the recommendation for retirement financial purposes. Correlation must be analyzed also for the recommendation for the choices of investment proportion. The Conclusion came out with Pasar Kemis property as the best investment instrument with the highest point in Treynor in risk adjusted method. The combination of two investment which came out with the best correlation is Pasar Kemis property and Silver. These two investments give the most negative result which means that the movement towards market would be in contrast to each other and give the best diversified portfolio. Further research is could be the recommendation in order to construct an optimal portfolio investment.Key Words : Investment Instruments, Risk and Return, Silver, Gold, JKSE, Propert
Financial Performance Assessment of PT Bumi Resources Tbk in Comparison with other Coal Mining Companies and Estimating the Company Value
Get PDFIn the latter half of 2009 until the beginning of 2011, Indonesian coal mining industry experiences an escalation as the increase of global coal mining prices. However from the year 2011 to 2013, coal price is declining. This condition caused by the oversupply of global coal productions. PT Bumi Resources Tbk (BUMI), one of the local mining companies has experienced a downward in the stock price and uncertainties regarding its feature prospect in the long run. This caused by the coal price that significantly decline. From the explanation above, author would like to analyze the company performance and make a comparison with the other local coal mining companies using several methods which are trend analysis, cross-section analysis, common-size financial statement analysis, and DuPont system of analysis. The benchmarking companies are the listed coal mining companies in Indonesia Stock Exchange. From the analysis that has been conducted, the financial performance of PT Bumi Resources Tbk is below the other benchmarking companies caused by several financial issues. Therefore, PT Bumi Resources require improvements to its financial performance to compete with the other coal mining companies. Based on income approach valuation, it indicates that PT Bumi Resources has experienced undervalue. It indicates that PT Bumi Resources Tbk has an opportunity to increase its value. Suggestions that can be given to PT Bumi Resources Tbk are effectively manage the level of debt, to be more effective in using its capital, and consider the cost and operating efficiency in order to improve the financial performance and compete better with the other coal mining companies.Key words: BUMI, financial performance, ratio, valuatio
The Application Of Dividend Yield-Based Investment Strategyin The Indonesia Stock Exchange (Case Study Of Idx High Dividend 20 For The Period 2018-2022)
Get PDFThe growth of the stock market in Indonesia has been rapid, in 2022 total of 10.3 million investors counted. To maximize their portfolios, investors seek simple and applicable investment strategies. One such strategy, based on dividend yield, is gaining popularity in the United States but remains underutilized in Indonesia. The Research aims to analyze the application of dividend yield-based investment strategies on the Indonesian stock exchange, particularly in the IDX High Dividend 20 stock index, to determine if it can produce results similar to the Dow Jones stock index. Historical data from 2018 to 2022 on IDX High Dividend 20 stocks, including closing prices at the end of the year and annual dividends, were used to calculate dividend yield and form a portfolio consisting of the top 10 stocks with the highest yield. This approach is called The Dogs of the Dow, where in this research, the other variants of the Dog of the Dows such as Dog of the Dows X (Dow 7), Top Low 5 (Dow 5), Top Low 4 (Dow 4), and Fund allocation 4 (Foolish 4) were utilized. Results show that dividend yield-based investment strategies are simple to apply and can provide high performance, making them a profitable option for investors.
Keywords: Indonesian stock exchange, dividend yield, IDX high dividend 20, The Dogs of the Dow, and investment strategy.
 
Asset Allocation Based Investment Strategy to Improve Profitability and Sustainability of the SMEs
No full textAbstractSMEs usually have a volatile revenue and income stream. In order to reduce the operational risk, SMEs allocates high cash position as a buffer during difficult situation. This paper aims to increase earning from this cash position through asset allocation strategy. Asset Allocation Investment Strategy is a strategy that allocates investment among several different investment classes in certain proportions and rebalanced periodically. By keeping the same proportion in these different investment class, SMEs are forced to apply the simplified investment principle which is many time difficult to apply in reality because of market sentiment.The author forms three portfolios consisting of stock mutual fund, bond mutual fund and money market in certain proportion into conservative, moderate and aggressive portfolio. The proportions are kept in balance through rebalancing process. Three rebalancing process are applied, which is quarterly, semi-annually, and annually. The return performance of all portfolios combined with these three rebalancing processes then will be compared each other and against the IHSG (Indonesian Stock Market Index) performance.The research result shows that Asset Allocation Strategy with Periodically Rebalancing gives better return compared to IHSG index performance. Aggressive Portfolio with quarterly rebalancing gives superior result compared to all other portfolios. When SMEs use this strategy for profit generated from their business, SMEs can improve their profit and sustainability significantly
Financial Performance Assessment of PT Pelabuhan Indonesia II (Persero) in Comparison with other Port Companies Locally and Globally
Get PDFTwo-thirds of Indonesia is water. Thousands lined the island of Sabang to Merauke. As an archipelago, marine transportation plays an important role in the development of Indonesia. Supported by Indonesia's strategic location as it is situated at the crossroads of world trade routes. Therefore it required sea transportation system that is reliable and efficient. This can be achieved if the management of the navy, both shipping companies and port operator operates properly and professionally.This study focuses on the performance of the port operator, PT Pelabuhan Indonesia II, which has its head office in Jakarta. PT Indonesia II port operational areas of the company covers 10 provinces and it has three subsidiaries, affiliate one, two business units and one joint operation.The performance that discussed in this study focused on financial performance, since only a company with good financial performance that can perform the operations well too.This final will discuss the performance of PT Pe4labuhan Indonesia II and will also be compared with other companies in the same industry both locally and globally. The author will use some framework. In the end, come to the conclusion and recommendation for PT Pelabuhan Indonesia II to achieve better performance.As a conclusion, PT Pelabuhan Indonesia II almost rivaling global competition a leader in several assessment framework, with an optimal capital structure when the WACC minimized at 53% of debt and 47% of equity while the maximum of firm value of IDR 8,620,465,240,669.Keywords: Archipelago, Port, Performance, Comparison, Financial statements analysis
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