50 research outputs found
The Implementation Analysis of SMEs Soundness Assessment Measurement for Service Industry in Bandung, Indonesia
Full text linkAbstract-Soundness assessment is important for to know how effective the company’s performance in achieving the vision and objectives. With the similar sectors, the soundness level analysis classified in 2 categories that are the category company with bank-loan and the category of company without bank-loan. SMEs Soundness Assessment Measurement is the first SME Soundness measurement developed by Raden Roro Mirna and Subiakto Soekarno. In measuring SMEs’ soundness, there are two aspect required that are financial and nonfinancial aspect. (Soundness Assessment Measurement Development for Indonesia Small and Medium Enterprises, 2014). The samples obtained are 15 service industry companies that consist of 9 companies with bank-loan and 6 companies without bank-loan. The sample’s assessment result will be compared using Independent Sample T-test with confidence level (α) 0.05. From the result shows that the sample group with bank-loan has 2 companies obtain “Good Soundness I†with rating AAA and the other 7 companies obtain “Good Soundness II†with rating AA. The sample group without bank-loan results 2 companies obtain “Good Soundness II†with rating AA and 4 companies obtain “Fair Soundness I†with rating BBB. Based on the Independent T-test results there is no significant difference in financial aspect mean between company with loans and without loans that statistically proven by p > 0.05. While based on nonfinancial aspect, there is a significant difference in mean between companies with bank-loan and without bank-loan that statistically proven by p < 0.05. Keyword: small business, service Industry Company, bank-loan, SME Soundness Assessment Measurement, financial, nonfinancial
ECONOMIC FEASIBILITY STUDY OF BLACKSTONE COFFEE
No full textAbstract. The growth of coffee industry in the world keeps increasing. Coffee is constantly changing from a daily morning routine to a part of modern lifestyle. This phenomenon gives a huge possibility for coffee shop owners to draw their market. PT Blackstone is a new start-up company that founded recently in Indonesia that wants to enter coffee business. Based in Jakarta, Blackstone plans to invest in a new coffee shop business. The author intends to conduct a feasibility study to assess the investment in coffee shop business for PT Blackstone. The feasibility study uses financial tools such as profitability to determine profit margins, net present value (NPV) to consider the time value of money, internal rate of return (IRR) to calculate the discount rate of an investment, and lastly the payback period to evaluate proposed investment in how long it gets the return of the capital. After collecting the data, the author will process the data to extract the information needed for analysis which is the next step. The result of this economic feasibility study for PT Blackstone is feasible despite the profitability index that indicates no profitability. There are some suggestions for PT Blackstone to adjust this feasibility study result.Keywords: Coffee Shop, Feasibility Study, IRR, NPV, Payback Period, Profitability Inde
Design and Implementation Money Management Web Based Application for Personal and Family Proposed for CV. X
No full textAbstractIndonesian middle class numbers continue to increase significantly. Some of them plan for their future, including their future finance. Middle class consumers do not have enough time to manage their personal finance. Some of them are not able to manage their income and outcome. Although they realize that they need advice from the advisor, they do not want to pay the personal finance advisory services, because its cost relatively expensive. They need easy and quick money management services. Financial planning solutions that are practical and comprehensive become a necessity for the middle class. As a techno entrepreneur, Mr. Steven as CEO CV.X wants to fulfill the needs of personal finance software, which it will become solution for the customer. In order to run this new business CV. X needs a business model that is suitable for the new business unit.The Author and developers’ team in the CV. X has done a study and development of personal finance software. The software has four main features: sub account and transaction management, financial plan calculation, investment calculation and money management, as well as financial statement. The software applied personal finance tools and knowledge: time value of money, financial report, and personal finance calculation (debt, life insurance, retirement, education fund, etc.). The development of the software is using rational unified process (RUP) framework. CV. X has to invest Rp 30.000.000 to develop the software and Rp 105.190.000 to run the business.The customer segments of the software are middle class in Indonesia.CV. X tries to make community relationship among their member. The software will deliver to customers with internet by website. The value proposition of the software is cheap, fun, and smart way to manage the personal finance. Help customers to reach their financial goals. Community is able to speak out about personal finances. The software is also providing up to date, accurate information related to personal finance. Key activities of the business are education, marketing, selling, research and development. Key Resources of the business are people, cash, and knowledge about personal finance. The key partners of the business are financial planner, financial institutions, financia
Optimal Capital Structure and Financial Performance Analysis for PT Matahari Department Store Tbk
Full text linkAbstract. PT. Matahari Department Store Tbk has been doing an aggressive expansion by keeps expanding its network and opening up new stores. From this year onward the company has determined 74 possible locations for new stores. To support expansion plan above, the company needs to achieve better financial performance as share price of company is influenced by the company’s performance. To maximize share price and company’s value, the management will need to increase the performance and fix aspect that is still lacking. Other than that to do the expansion efficiently, optimal capital structure will be needed. To analyze the company financial performance, the author uses time series and cross sectional analysis, while to find the optimal capital structure the author will use WACC method. The analysis indicates that the current capital structure of PT. Matahari Department Store Tbk consists of 80% debt and 20% equity. The optimal capital structure for PT. Matahari Department Store Tbk is in 68% of debt level. For financial performances, there are some aspects that already ideal and some are not yet ideal
Investment Feasibility Study for Iron Ore Mining Project (Case Study : PT Ina Touna Mining)
Full text linkWith increasing industry sector in Indonesia, lead to higher demand for industry raw materials especially in natural resources industry. PT. Ina Touna Mining, a national private company in Indonesia is conducting mineral exploration of iron ore in Tojo, Tojo Una Una regency, Central Sulawesi province for 8 years concession period. In its efforts to get the licence in conducting its business, author create the investment feasibility study which will calculate the cash flow in the 8 years concession period. To calculate the investment feasibility study, author uses capital budgeting approach, sensitivity analysis and risk handling management strategy
Impact of the Implementation of Mining Law Number 4 Year 2009 and Minister of Finance Regulation Number PMK - 6/PMK.011/2014 Regarding Export Duty and Export Duty Tariff to PT. Freeport Indonesia
No full textAbstract. This final project is regarding the curiousness of the author on the sustainability of PT Freeport Indonesia (“PTFIâ€) if the new mining law, Law Number 4 Year 2009 and its implementing regulation, Minister of Finance Regulation No. PMK - 6/PMK.011/2014 are enacted. The reason is, the implementation of the above law and regulation required PTFI to spend huge amount of money to establish a new purification company (in PTFI’s case is Smelter Company) and also disallowed PTFI to export its product. Since this is impacting the financial side of PTFI, its forecasted Financial Statement after the implementation of the said law and regulations should be assessed to find out whether PTFI will still provide financial benefit to its shareholders or not. Failed to satisfy the shareholders might provoke them to withdraw their investment that in its turn can stop PTFI’s operation due to lack of financing.The assessment of PTFI’s Financial Statement will use derivation of ratio analysis tools, DuPont Model Analysis and State Owned Company (“BUMNâ€) Scoring Method, to find out whether PTFI’s Financial Performance after the implementation of those law and regulation is still favorable for the shareholders or not, compare to the financial performance before the implementation of the law and regulation. Since the result of the assessment is not favorable for the shareholders, new strategies to overcome this problem should be setup. The proposed projects of Increasing Sales, Cost Reduction, Regulation Suspension, and Export Tax Discount, would worth to try, since they are proven can boost the Financial Performance of PTFI. Further, these project could also close Financial Performance gap between the Financial Performance before the implementation of the Law No. 4/2009 and MoF Regulation No. PMK - 6/PMK.011/2014 and the Financial Performance after the issuance of those law and regulation. At the end, there is no reason for shareholders to withdraw their investment at PTFI.Keywords: Favorable Financial Performance, Shareholders Satisfaction, Sustainabilit
Financial Performance Analysis of PT Astra Agro Estari and Company Value Estimation
No full textPalm oil is the world’s most consumed and produced vegetable oil. Southeast Asia region supplies 89.97% of global Crude Palm Oil (CPO) demand, Indonesia is the world’s leader of CPO supplier that own about 53.7% global market. The CPO production and export is also became one of the most influencing commodity in Indonesian trading balance. The financial performance of PT Astra Agro Lestari as Indonesian leading palm oil company will be compared with the palm oil companies with the highest market capitalization in Southeast Asia region. The company valuation also performed to estimate the value of PT Astra Agro Lestari. The method that is used to perform those analyses is the financial ratios comparison with trend analysis, cross-section analysis, common size financial statement, DuPont analysis, and the compound annual growth rate comparison. Then, the valuation method used to value the company is the discounted cash flow (DCF) model, market approach, and asset-based approach. The result of this research, addressed to elevate the company performance of PT Astra Agro Lestari in order to improve the competitiveness in global palm oil competition. The overall financial performance of PT Astra Agro Lestari actually left behind Univanich Palm Oil regardless the business scale difference. PT Astra Agro Lestari continuously lost its business efficiency from 2009 to 2013. The result itself shows that PT Astra Agro Lestari would perform better in the future if the company looking back to export opportunity in increasing global CPO price in upcoming years. PT Astra Agro Lestari also should make its operational more efficient and increase the productivity to make the financial performance better. Two out of three company valuation methods indicates that the share price of PT Astra Agro Lestari is underpriced in the market, thus, PT Astra Agro Lestari shares are prospective in the future.Keywords: Financial performance comparison, Crude Palm Oil (CPO), financial ratios, DuPont analysis, company valuation, discounted cash flow valuation
The Application of Dividend Yield Based Investment Strategy in Indonesian Stock Exchange
Full text linkStock market development in Indonesia is growing rapidly, coupled with the increase of Indonesia's investment rating by investment research and rating companies such as Moody's and S&P, it makes Indonesian stock market look sexy in the eyes of investors from various countries. The investment strategy that simple and applicable is often sought by investors to maximize the investors' portfolio. One investment strategy is evolving but still not widely used in Indonesia is an investment strategy based on dividend yield. Dividend yield based investment strategy such as the Dogs of the Dow is quite popular in the United States, but the use of this investment strategy in Indonesia is still quite uncommon. Therefore, the expected investment strategy in Indonesia may provide a favorable outcome. The main issue of writing this final project is whether the application of dividend yield based investment strategy on the Indonesia stock exchange, especially in LQ45 stock index so that it can produce such good results as on the Dow Jones stock index. The research to analyze the application of dividend yield based investment strategy used historical data of LQ45 stocks from period 2006 to 2011. Closing prices of the end of the year and the annual dividend of the companies are the components to calculate dividend yield. The portfolio is formed from the 10 highest dividend yield stocks. The research show that dividend yield based investment strategy can give high performance and also simple to apply. With an investment strategy that provides a profitable portfolio for investors, investment companies may also attract investors to invest in their products. Individual investor could also develop their portfolio using the investment strategy to maximize their profit themselves
Performance of Pertamina-Indonesia among Oil and Gas Companies in the Fortune Global 500 of Southeast Asia
Full text linkPertamina as a State Owned Enterprise (BUMN) in oil and gas energy sector which represents Indonesia - a
country that has the largest oil and gas reserves in Southeast Asia. Pertamina which has been listed in Global
Fortune 500 as one of the three oil and gas companies in the ASEAN regional and the only representative from
Indonesia. Indonesia's huge energy consumption with a densely populated population of 267 million people
which is four times bigger than Thailand and eight times bigger than Malaysia. But these facts haven’t been in
line with Pertamina's financial performance compared to the two companies which also represent their countries
in Southeast Asia, namely Petronas - Malaysia and PTT Thailand - Thailand. Although in terms of revenue per
employee which PTT Thailand is the best and Pertamina outperforms Petronas, still it’s not in line with
Pertamina's profit which is lower among the companies. This paper will propose what Pertamina needs to do to
optimize its performance in order to become the leader in the oil and gas energy industries in the ASEAN region
by using financial ratio analysis, data envelopment analysis and DuPont analysis on the past five years financial
reports of these three companies.
Keywords: Pertamina, Performance, Indonesia, DuPont, DEA
Feasibility Study Downstream Facility for Bacillus Calmette Guerin (BCG) Project of PT. Biofarma
Full text linkAbstract. BFM has been constantly striving to discover new vaccines for more than 123 years, in order to eradicate communicable diseases that continue to grow and threaten the humans’ health. Therefore, this research has the objective to conduct a conclusion whether the replacement production line of Bacillus Calmette Guerin (BCG) is feasible or not. Bacillus Calmette Guerin (BCG) is known as freeze-dried vaccine which contains live attenuated of Mycobacterium Bovis, Paris strain. Nowadays the process of production BCG will replace by new technology because of increased demand. Theories and methods in this research are cash flow, Net Present Value (NPV), Internal Rate of Return (IRR), Payback Period (PBP), and sensitivity analysis. The result of this project indicates the feasibility of the project and the benefit of the project for PT. BFM. Based on the positive NPV, greater IRR when compared with WACC, and shorter payback period when compared with the project economical life, this project is economically feasible. Keywords: Cash Flow, NPV, IRR, Payback Period, Sensitivity Analysi
