Garuda - Garba Rujukan Digital

COST ANALYSIS AND PROFIT CALCULATION OF CV LUMINTU: A BATIK MANUFACTURING CASE STUDY IN PEKALONGAN Faikar, Fahd; Kitri, Mandra Lazuardi
Journal of Business and Management Vol 7, No 3 (2018)
Publisher : Journal of Business and Management

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract. Background : In many parts of Indonesia, many small and medium-sized manufacturing industries are the main source of livelihood for the population. Not a few of them are out of business because they are not able to sustain their lives every month (Rayadiani, 2015). In Pekalongan, the city is very famous for its batik is a lot of textile industry manufacturing woven fabric ATBM (Investor Daily, 2018) (Non-Woven Weaving Machine) and traditional batik is still able to survive by relying on uniqueness that cannot be duplicated by modern machines (Wiji, 2013). CV. Lumintu is a small-scale manufacturing medium size saw and the production produced is not bulk and not quite customized. Lumintu Workshop is owned by R Asyfa Fuadi. In addition to producing batik orders, R Asyfa Fuadi also sells batik products in a shape of fabric sheets with a fairly easy motive through a network of batik traders in Pekalongan and distributed almost throughout Indonesia. Problem: In this case, many manufacturing firms, let alone with traditional and small scale, do not have a good accounting and financial recording system. Rewards (pricing) made only on the basis of costs incurred for the product alone or guessing because of the absence of good calculations in the cost line. CV. Lumintu only records costs by guesswork only. With conditions that occur, the calculation of prices and profits are almost certainly wrong and can be one of the main causes almost bankruptcy of this traditional company. By doing cost analysis in this traditional manufacturing industry, the author can know and classify all expenses incurred during business process run by CV. Lumintu in everyday life. Apart from calculating the cost incurred, the author can also calculate and know the unit cost and also calculate the breakeven point of each product produced by CV. Lumintu. Methodology: The data collection will be done through the quantitative methodology. In this step, the researcher will have the calculation. Quantitative Research is the methodical correct examination of unmistakable ponders by methods for genuine, logical or computational strategies (Given, 2008). The data collection gained from the primary and secondary data, the primary data from CV. Lumintu which is from the owner itself, and secondary data woud be gained and used as a benchmark to the primary data. Result:The result of this research are (1) the old unit cost is Rp 61.762.233 and the new unit cost is Rp 66.693.394; (2) net income after tax is Rp. 73,548,030, and; (3) a new model of financial statement has to be made by CV Lumintu.Key words: Batik, Manufacturing, Financial Statement, Cost Analysis, Profit Calculation

Optimal Capital Structure of PT Garuda Indonesia Tbk. Abdillah, Muhammad Bisma; Kitri, Mandra Lazuardi
Journal of Business and Management Vol 9, No 2 (2020)
Publisher : Journal of Business and Management

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract. PT Garuda Indonesia Tbk. is a well-known Indonesian national airline and has several subsidiaries such as PT Aerowisata, PT Sabre Travel Network Indonesia, PT Garuda Maintenance Facility Aero Asia, PT Citilink Indonesia, PT Aero Systems Indonesia, PT Gapura Angkasa and Garuda Indonesia Holiday France. As of April 2020, most of the airline companies has lost many passengers due to the traveling restriction from the government to avoid disease transmission of Coronavirus pandemic. Since then, PT Garuda Indonesia Tbk. should stop some flights to a certain domestic areas and foreign countries and also reduce the amount of passenger up to 50% and do a medical check for all passengers in every flight. Even more, in June 3, 2020, PT Garuda Indonesia is required to pay a maturing debt of USD 500 million to global sukuk limited and government plans to provide a loan of IDR 8.5 trillion or as much as USD 600 million at an exchange rate of IDR 14,000 as of assumed exchange rate in 2020. Considering the recent condition of restriction of flights, reduced amount of passenger, and an increased cost of medical check, the author do a research into this company to determine what company action will PT Garuda Indonesia Tbk. should take. In order to decide whether the company accept the loan or not, the author analyses the current weighted average cost of capital of PT Garuda Indonesia Tbk. and searches the optimal capital structure so as to compare the debt and equity proportion of the current and optimal condition of them. Also, the author find the best alternative financing strategy the company had to take. PT Garuda Indonesia Tbk. currently has 76% of debt and 24% of equity, where the cost of capital is 9.06% and through WACC analysis, the authors have found that the optimal capital structure that PT Garuda Indonesia Tbk. must have to finance the maturing debt so that the value of the company at maximum, and should consist of USD 1,583,506,477 of debt and USD 1,404,241,592 of equity, which is 53% of debt and 47% of equity.Keywords: Weighted Average Cost of Capital, Optimal Capital Structure, PT Garuda Indonesia Tbk.

Impact of Mobile Banking Usage Intensity On Idx-Listed Banks' Performance Juanda, Kadek Yoga Ade; Kitri, Mandra Lazuardi
Journal Integration of Social Studies and Business Development Vol. 2 No. 2 (2024)
Publisher : Integrasi Sains Media

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58229/jissbd.v2i2.254

This study investigates the impact of mobile banking usage intensity on the performance of banks listed on the Indonesia Stock Exchange (IDX), specifically focusing on Return on Assets (ROA) and Return on Equity (ROE). The analysis is divided into pre-COVID-19 (2013-2019) and during/after COVID-19 (2020-2023). Data from 14 banks were examined using the Pooled Ordinary Least Squares (OLS) method. The results show that mobile banking usage positively affects bank performance in both periods. Prior to the pandemic, increased mobile banking transactions significantly enhanced profitability and equity returns, indicating improved efficiency in generating earnings from assets and a positive impact on returns to shareholders. This positive effect became more pronounced during and after the pandemic, reflecting a greater reliance on digital banking channels. The COVID-19 pandemic notably shifted consumer behaviour towards higher adoption of digital solutions. The study also highlights significant differences between small and large banks. For smaller banks, mobile banking usage did not significantly impact performance metrics, suggesting challenges in leveraging digital banking effectively. In contrast, larger banks experienced significant improvements in ROA and ROE due to mobile banking usage, benefiting from their substantial resources and advanced technological infrastructure. Overall, this research underscores the crucial role of digital transformation in enhancing bank performance, particularly during crises. The findings suggest that continued investment in mobile banking technologies is essential for sustaining and improving financial performance.

Price Identification And Financial Feasibility Study of Hydroponic Agriculture Iot Solution Launch Project at PT XYZ Irawan, Anjeli Siti Maliska; Kitri, Mandra Lazuardi
Journal Integration of Management Studies Vol. 1 No. 2 (2023)
Publisher : Integrasi Sains Media

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58229/jims.v1i2.109

Since 2015, the Internet of Things technology has grown significantly, reaching over 400 million users by 2022 in Indonesia. Recognizing the potential, PT XYZ, an innovative Indonesian telecommunications company, intends to launch an IoT solution for hydroponic agriculture. The launch project requires an initial investment of around Rp 500 million. Given that amount, PT XYZ aims to determine the selling price using a value-based pricing strategy and assess the project's financial feasibility and risks before proceeding. Primary and secondary data will be utilized in this research to determine the customer's willingness to pay (WTP), Capital budgeting cash flow, which includes the hypothetical price of IoT, calculating the weighted average cost of capital (WACC), free cash flow to the firm (FCFF), and terminal value. The study used various capital budgeting techniques, such as net present value (NPV), profitability index, payback period, internal rate of return (IRR), and Excel's goal seek feature, to determine the IoT solution's pricing. A risk analysis using sensitivity and Monte Carlo simulations have conducted. The research finds that the present value of benefits, or WTP, for the IoT solution, is Rp 90,708,238. Considering PT XYZ's targeted internal rate of return of 20%, the determined selling price is Rp 20,120,408, which lies within the customer's WTP, making the project feasible. Capital budgeting techniques show a payback period of 4.08 years, an NPV of Rp 3,424,935,505, and a profitability index of 8.21 over five years, indicating positive outcomes. However, the sensitivity analysis reveals that a change in product price, cost of goods sold, and salary expenses will significantly impact the NPV, resulting in a 12.69% risk, with profitability remaining high at 87.31%. In conclusion, PT XYZ's hydroponic agriculture IoT solution launch project is considered feasible, considering potential risks and mitigation strategies.

Feasibility Study of PT XYZ's Villa Project In Seminyak, Bali Wijaya, Darren Anthony; Kitri, Mandra Lazuardi
Journal Integration of Management Studies Vol. 2 No. 1 (2024)
Publisher : Integrasi Sains Media

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58229/jims.v2i1.159

The tourism industry in Bali, a cornerstone of the local economy, faced a severe downturn due to COVID-19, resulting in declines in tourist arrivals and accommodations. However, the sector has seen a robust recovery, with tourist arrivals now exceeding pre-pandemic levels. Despite this, accommodations recovery has lagged, presenting a significant investment opportunity. PT XYZ aims to capitalize on this by developing a luxury villa in Seminyak, targeting the middle-to-upper tourist market. The planned investment of IDR 2,109,848,475 will be fully financed through equity. This study assesses the financial feasibility and potential risks of the project. It involves constructing pro forma financial statements to forecast operations over 20 years, followed by detailed cash flow analysis. Key metrics such as Free Cash Flow (FCF) and Terminal Cash Flow are calculated, and the Weighted Average Cost of Capital (WACC) is used to discount future cash flows. The analysis employs Net Present Value (NPV), Internal Rate of Return (IRR), Profitability Index (PI), Payback Period, and Discounted Payback Period to evaluate financial returns and investment recovery time. The study indicates a positive NPV of IDR 1.6 billion and an IRR of 19.36%, suggesting substantial returns over the cost of capital. The project’s profitability index of 1.77 underscores its value generation potential, while the payback period and discounted payback period, at 6.06 years and 9.07 years respectively, highlight its efficiency in recouping investments well within its useful life. Risk assessment through sensitivity analysis and Monte Carlo simulations highlights daily and occupancy rates as critical factors, with a low 4.5% probability of a negative NPV. Strategic recommendations include dynamic pricing, enhancing guest experience with exclusive amenities, and listing the property on multiple Online Travel Agencies (OTAs) to boost visibility and bookings.

Financial Feasibility Analysis of XYZ Company Market Expansion Plan to Kalimantan Tsabita, Dinara; Kitri, Mandra Lazuardi
Journal Integration of Management Studies Vol. 2 No. 1 (2024)
Publisher : Integrasi Sains Media

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58229/jims.v2i1.178

XYZ Company, a B2B manufacturer of Songkok in Gresik, East Java, plans to expand its market by establishing a new distribution warehouse in Banjarmasin, Kalimantan. This strategy aims to leverage the growing demand for Songkok in Kalimantan, which has a significant Muslim population. The primary goal of this study is to evaluate the financial feasibility of purchasing versus renting the new warehouse for this investment plan. The financial feasibility analysis was conducted in multiple stages. Pro forma financial statements were constructed for both scenarios, incorporating historical data of the company's financial statements, industry benchmarks, and growth assumptions from management interviews. Free Cash Flow to the Firm (FCFF) and terminal cash flows were calculated using the Weighted Average Cost of Capital (WACC). Capital budgeting techniques were then used to evaluate financial feasibility, including Net Present Value (NPV), Internal Rate of Return (IRR), and Discounted Payback Period. Risk assessment was performed through sensitivity analysis and Monte Carlo simulation. Results indicate that the renting scenario, with an initial investment of IDR 242 million, has a higher NPV and IRR than the purchase scenario, which requires an initial investment of IDR 944 million. The renting scenario also offers a faster-discounted payback period of 2 years and one month, making it more feasible. Risk assessment shows moderate risk, with an 83% probability of achieving a positive NPV. The financial feasibility analysis recommends renting the new warehouse in Banjarmasin. This option provides a quicker payback period, higher NPV and IRR, and positive risk assessment results. Investing in this project will enhance XYZ Company's market presence in Kalimantan, cater to the growing demand for Songkok, and achieve sustainable growth and profitability.

Optimal Capital Structure Analysis of PT Bluebird TBK Yuliani, Sri; Kitri, Mandra Lazuardi
Journal of Consumer Studies and Applied Marketing Vol. 3 No. 1 (2025)
Publisher : Integrasi Sains Media

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58229/jcsam.v3i1.387

PT Bluebird Tbk, a leading Indonesian road transportation company, plans to acquire 1,000 electric vehicles (EVs) by 2025, which will require an investment of IDR 1.8 trillion. Currently, the company's capital structure consists of 25.24% debt and 74.76% equity, a proportion that differs significantly from the Indonesian road transportation industry average of 51.63% debt and 48.37% equity. This difference suggests that PT Bluebird Tbk may not yet have reached an optimal capital structure. Achieving an optimal mix between debt and equity is important for minimising the company's cost of capital and maximising its overall value. The planned expansion provides an opportunity for PT Bluebird Tbk to evaluate and potentially restructure its capital structure. This study utilised the Cost of Capital approach to identify the optimal capital structure, with the Weighted Average Cost of Capital (WACC) formula to analyse various debt and equity scenarios. The Damodaran Synthetic Rating is utilised to estimate the cost of debt, while the Capital Asset Pricing Model (CAPM) is applied to calculate the cost of equity. The results indicate that the optimal capital structure for PT Bluebird Tbk consists of 32% debt and 68% equity. Therefore, the most favourable financing strategy for the expansion involves raising IDR 742,475 million through debt and IDR 438,711 million through equity to achieve this optimal structure.

Title

Found 7 Documents
Search

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Title Search

Found 7 Documents Search

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Title

Found 7 Documents
Search