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All Journal Rotasi Journal of Economics and Business UBS Co-Value : Jurnal Ekonomi, Koperasi & Kewirausahaan
Dzikri Firmansyah Hakam
Institut Teknologi Bandung
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Mechanical Engineering

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Kajian Potensi Peningkatan Daya Terpasang PLTA Sebagai Pemanfaatan Surplus Debit Air Unit PLTA Batang Agam Kurniawan, Elfin; Hakam, Dzikri Firmansyah; Prahastono, Iswan; Nainggolan, Akiman
ROTASI Vol 23, No 1 (2021): VOLUME 23, NOMOR 1, JANUARI 2021
Publisher : Departemen Teknik Mesin, Fakultas Teknik, Universitas Diponegoro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/rotasi.23.1.32-38

Abstract

Batang Agam hydro Power Plant is a run of river hydro Power Plant which operated in 1976 with initially 2 (two) generation units operation. In 1981, the Batang Agam hydro Power Plant experienced 1 (one) unit expansion, resulted in total capacity of 3 x 3,5 MW. Based on the analysis carried out by the author, we found that there are potential for additional generating power from the existing river flow. This analysis based on 3 (three) types of studies, namely the study of excess inlet water discharge (inflow) at the overflow point in the tando pond spillway, the study of excess inflow at the overflow point in the spillway sand pond, and the study of water savings from modification of the tando pond screen outlet. Moreover, this research conducts a study on the capacity of additional units and the capacity of the existing waterway to determine the durability of the infrastructure. Based on the study results, an inflow surplus of 2,58 m3/s was obtained with a potential additional unit capacity of 2 MW. After more than 40 years of operation, the main hydropower facilities experience several modifications in the intake and the tando pond. We identified the potential to increase the installed power capacity of the Batang Agam Hydroelectric Power Plant by utilizing the surplus water in the tando and sand pond. The utilization of this water surplus can convert hydro energy into electrical energy that produce an additional 1 x 2 MW generator unit. This research provides a beneficial to PLN in increasing power supply to the interconnection system without land acquisition by utilizing the existing waterway.
Pengaruh Penambahan Zat Aditif Pada Pengecoran Beton Joint Pit SKTT 150 kV Sario – Teling Fitrianto, Andrian Juli; Hakam, Dzikri Firmansyah; Prahastono, Iswan; Nainggolan, Akiman
ROTASI Vol 23, No 1 (2021): VOLUME 23, NOMOR 1, JANUARI 2021
Publisher : Departemen Teknik Mesin, Fakultas Teknik, Universitas Diponegoro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/rotasi.23.1.39-49

Abstract

The construction of a 150 kV Sario - Teling High Voltage Cable Line (SKTT), which located in the city of Manado - North Sulawesi Province, is an important electricity project that has been planned to operate in 2020 according to the 2019-2028 Rencana Umum Penyediaan Tenaga Listrik (RUPTL). This transmission line construction is expected to increase electrical energy services in North Sulawesi region. This SKTT project applied the Boring Horizontal Directional Drilling (HDD) method to install the 150 kV SKTT cable. On the other hand, the Joint Pit installation uses a Box Culvert precast construction consisting of reinforced concrete.From the test results of the samples, we can conclude that there were an increases in the compressive strength of concrete from 1,04% to 1,27% above the compressive strength of normal concrete. There was a decrease in the compressive strength of the concrete at several points. However, this anomaly is still above the minimum limit of concrete compressive strength determined by PLN, which is 400 kg / cm2.This study involved laboratory testing to determine the effect of additives added during Box Culvert casting in order to obtain an efficient hardening time. It is hoped that this study will have an impact on the completion of the SKTT 150 kV Sario - Teling project on time, so that it can provide economic benefits for PLN and the consumer.
Analyzing the Influence of the Coal Export Ban Policy on the Financial Performance of PTBA Indonesia: A Case Study of Indonesia’s Coal Company Riza Syafitri; Dzikri Firmansyah Hakam
Co-Value Jurnal Ekonomi Koperasi dan kewirausahaan Vol. 14 No. 4 (2023): Co-Value : Jurnal Ekonomi, Koperasi, & Kewirausahaan
Publisher : Program Studi Manajemen Institut Manajemen Koperasi Indonesia Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36418/covalue.v14i4.3717

Abstract

The demand for coal in Indonesia and globally has risen in response to global population growth. As the largest exporter of thermal coal globally, they exported around 434 Mts in 2021, with primary consumers including India, China, Japan, and South Korea. Indonesian coal mining companies are confronting a coal export prohibition due to insufficient domestic coal supply for PLN amidst the European energy crisis and the Ukraine-Russia crisis. The coal export ban may negatively impact the sales of coal mining companies, such as PTBA, and limit their potential to expand into Italy and Poland in 2022. This study aims to comprehensively analyze PTBA's fair value using internal and external analysis to assess PTBA's financial condition. PTBA shares were valued at US $0.226 or Rp 3,293 using the DCF method in early 2022. A Monte Carlo Simulation will be performed to assess the value at risk and measure potential investment losses. A Monte Carlo Simulation was conducted at a 95% certainty level to determine the valuation range of shares, which was between -US $0.04 and US $0.45. PTBA's current stock is undervalued based on DCF methods, indicating that investors who purchase at US $0.223 or Rp 3,923 may benefit.
The Impact of Russian-Ukraine Conflict on Profitability and Valuation of Indonesian Coal Stocks Erman Sumirat; Dzikri Firmansyah Hakam; Irfan Sihab Budin F
Journal of Economics and Business UBS Vol. 12 No. 6 (2023): Special Issue
Publisher : UniSadhuGuna Business School

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52644/joeb.v2i6.853

Abstract

This research investigates the impact of the 2022 Russian invasion of Ukraine on the profitability and valuation of publicly listed Indonesian coal companies. Leveraging panel regression, the study offers empirically grounded perspectives on how an acute geopolitical conflict disrupted global energy trade flows to influence key financial metrics of a major exported commodity. Specifically, the analysis focuses on five leading Indonesian coal miners over 2019-2022. Profitability dynamics are examined through gross profit margins while valuations reliance on price-to-earnings ratios. Control variables capture coal prices, a conflict indicator, inflation, interest rates, and exchange rate fluctuations. Results reveal the global coal price spike had a statistically significant positive impact on profit margins, affirming the turmoil's commodity super-cycle upside. However, valuations diverged from earnings trends, suggesting more complex reassessments of long-term prospects. The conflict itself directly affected profitability but not valuations. This research contributes timely empirical insights on an understudied intersection of geopolitics, commodity markets, and emerging market equities. Evidence-based quantification of financial linkages and risk transmission inform both theory and practice. Strategic decision makers obtain granular clarity regarding exposures and opportunities during energy market turmoil.
Co-Authors Erman Sumirat Fitrianto, Andrian Juli Irfan Sihab Budin F Kurniawan, Elfin Nainggolan, Akiman Prahastono, Iswan Riza Syafitri