ANALISIS INVESTASI DAN STRATEGI UNTUK MENINGKATKAN PROFITABILITAS BISNIS MELALUI PELUANG PASAR EKSPOR (STUDI KASUS : PT. BFM-PERUSAHAAN BUMN DI BANDUNG, INDONESIA)

• Main Author: RAHMAWATI (NIM: 29110331); Final Project Advisor: Ir. Uke MMP Siahaan, MBA, FITRIANA
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/18509
• Institution: Institut Teknologi Bandung

ABSTRACT <br /> <br /> <br /> <br /> <br /> Vaccines are market products subject to usual business practices but are complex and require a specialized knowledge and a precise approach. Limited vaccine manufacturer in the world creates a big opportunity for emerging vaccine manufacturers to enter the global market. One of the WHO prequalified vaccine manufacturer that has enter the global market is one of the pharmaceutical state-owned company of Indonesia, PT. BFM. <br /> <br /> <br /> <br /> <br /> The increase of demand from export sector through business line of bacterial and combination vaccines indicates global market opportunities. However, the existing final product capacity has reached its optimum utilization in 2012. Market needs are not met due to the limitation of production capacity. <br /> <br /> <br /> <br /> <br /> In order to achieve the opportunities that have been opened, BFM consider increasing final product capacity through investment of new integrated (formulation, filling and packaging) facility. To analyze this business opportunity, feasibility study was conducted by analyzing the market and financial aspects of the project investment plan. <br /> <br /> <br /> <br /> <br /> Market analysis was conducted by considering market size and growth, competition and market potential. It is indicated there is a potential market that BFM can grasp for bacterial and combination vaccine. Financial analysis was indicated by using various indicators of NPV, IRR and PBP. The values obtained concluded that the project is feasible to be implemented depending on the annual production utilization based on sales forecast which was analyze using three scenarios of pessimistic, moderate and optimistic. Result from optimistic scenario is NPV <br /> <br /> <br /> Rp. 124,367,760,506; IRR of 29,44% and Payback period of 4 years 6 months with source of funding used is 70% equity, 30% debt. Differences between assumptions and the reality can change the feasibility of the project. Sensitivity analysis indicates the most sensitive variables of change to the value of NPV and IRR are exchange rate, DTP-HB-Hib composition and selling price escalation rate. <br /> <br /> <br /> <br /> <br /> The project development plan of new facility will be conducted through several steps consist of project tender, facility construction, equipment installation, validation process and submission of approval to NADFC and WHO. Commitment form BFM’s management is required in order to carry out the implementation of on time project development. <br /> <br /> <br /> <br /> <br /> Keywords: vaccine, export, investment analysis, production facility