1,720,983 research outputs found
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
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
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
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
Valuing and Capital Structure Analysis of PT. Menara Sumberdaya Indonesia
No full textAbstract. Indonesia as the fourth largest country in the world has high population and domestic consumption. This condition is highly beneficial for industry in Indonesia. Milk and dairy product is one of them. Fortunately this industry still dominated by foreign company and importer to support local demand. This condition showed that the local producers still uncultivated huge opportunity in local market. PT. Menara Sumberdaya Indonesia (MSI) as one of the local producers saw this condition as opportunity. However MSI need a new machine to support the expansion, because the current production capacity is already at maximum. Therefore MSI need external capital to fund the expansion. This study aims to give recommendation with calculation about capital structure and company valuation to MSI management to get funding strategy. Based on the calculation it shows MSI need to get the external fund from both debt and equity financing to fund the expansion, in order to obtain optimal capital structure. MSI also suggested increasing the volume of production to reduce the idle capacity of the new machine. Keywords: Valuation, discounted cash flow, acquisition, optimal capital structur
Financing Strategy Analysis to Maximize Company's Value Case Study: PT ABC
Full text linkAs a newly born mining company, PT. ABC needs more funding to finance the capital expenditure. The capital expenditure is needed in order to ramp up the company production capacity. The current 0.5 Million Ton 2012 production cannot meet their target capacity which is 2.3 Million Ton. So, they need the additional funds to finance the capital expenditure immediately. The fund needed is approximately 5 Millions USD.There are two source of funding alternatives, which are internal and external sources. The internal source which is retained earnings is not possible due to the insufficient funds. The possible external sources are bank loan and advance from customer. So, there are three possible forms of financing alternatives for PT. ABC, which are bank loan, advance from customer and the combined of both bank loan and advance from customer. The concern for the company is they have a plan to become publicly traded company in near future, so this immediate financing need should be aligned with the company medium and long term plan. The parameter that needs to be analyzed from every alternative is the impact on company value. The company value of every alternative is analyzed using DCF (Discounted Cash Flow) method and Relative valuation method. Based on the analysis using DCF and Relative valuation method, the best possible alternative is the combined of both bank loan and advance payment. That alternative resulted in the highest equity value which ranged between Rp 2,421 Billions to Rp 3,556 Billions.Keywords: Funding Alternatives, Discounted Cash Flow Valuation, Relative Valuatio
Optimizing workover job types as one of company strategies to increase short-term investment returns under low oil price
No full textAbstract. The oil price has been low since 2004 and reached a 10-year low in 2016. Oil companies must adapt their strategy to keep their financial performance. Chevron corporation has re-focus its strategy, with one of the focuses is to improve free cash flow through improving its short-term investment returns. Best Company, one of its subsidiaries, faces a challenge on how to add more opportunities to align with this strategy. This paper reviews workover activities, as one of business activities besides capital projects in Best Company, to find opportunity for increasing its economic returns. The research is studying measures on workover activities that can be built into a quantitative predictive model to find best strategy for maximizing its efficiency or financial return. The quantitative predictive model also further allows optimization of the Company’s portfolio, as it allow direct comparison with capital projects within the portfolio.Based on the research, it is shown that the rig count has almost linear relationship with NPV under similar profitability index for various spending when the job type mix remains the same. However, when the job type mix is optimized, it is shown that the company can increase its returns by focusing on pump upsize and water shutoff job types. In the case of Best Company, an optimization in the job type mix at the same number of workover rigs can be expected to increase the profitability index (marginal benefit) from 1.42 to 1.53 for the investment in workover business. Keywords: Workover, Forecasting, Low oil price, Strategy, Optimizatio
EVALUATION OF COAL DETERMINATION AS TAXABLE GOODS AND ITS EFFECT ON VAT TAX PLANNING & FINANCIAL STRATEGY TO OPTIMIZE FINANCIAL PERFORMANCE OF PT ABC
Full text linkPT ABC, a coal mining company, is preparing to undertake major infrastructure projects specifically the construction of Train Loading Systems (TLS) 6 and 7 to enhance logistics capacity and operational efficiency in line with its long-term goals. However, implementing both projects simultaneously require significant funding, potentially straining the company’s liquidity. To ensure financial sustainability, an integrated strategy is necessary during the investment phase. This research applies both quantitative and qualitative methods to develop a financial strategy that supports project execution without disrupting core operations. The strategy focuses on optimizing financing structures and tax planning, particularly through the use of input VAT to improve cash flow. Two alternative financing schemes were analysed: Alternative I, combining tax optimization with debt securities; and Alternative II, combining tax planning with bank financing. Simulation results show that Alternative II offers better financial outcomes. It provides greater cost efficiency and less strain on cash flow during construction. Under this approach, interest expenses are deferred until commercial operations begin, and Interest During Construction (IDC) is capitalized into the asset and loan balance. This results in a structured repayment schedule that lowers future interest burdens. Conversely, Alternative I requires fixed quarterly coupon payments from the outset, placing continuous pressure on cash flow and the income statement throughout the construction period. Given these considerations, Alternative II is recommended as the more financially sustainable option, allowing PT ABC to proceed with its infrastructure projects while maintaining healthy operational liquidity
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