BUSINESS VALUATION FOR SMALL MEDIUM ENTERPRISE (CASE STUDY: PIKSEL INDONESIA)

• Main Author: Rahmawati, Dwi
• Format: Theses
• Language: Indonesia
• Subjects: Akuntansi
• Online Access: https://digilib.itb.ac.id/gdl/view/33024
• Institution: Institut Teknologi Bandung

The result of the study aims to asses due diligence of Piksel Indonesia for the impending investor and to identify about the batik consumer preferences while they plan to buy batik products. Textile and apparel industry are one of the industries that promise to be a strategic industry in Indonesia. According to the secretary general of the Indonesian Textile Association, Indonesia’s textile export increased 6% in 2017. Piksel Indonesia is a creative company focusing on technology and design. It is the only company in Indonesia that creates software design and specialize the software for handicraft especially for batik artisan in Indonesia. In order to know the costumers preference towards batik products, the author conducts market survey using questionnaire. Data was gathered from the total of 338 respondents which randomly taken from various cities in Indonesia. It is comprised of 21 questions, the first five questions are related to the respondents’ demographic background, and the rest of the questions are related to the respondents’ tendency towards batik products, the expected price and preferences in buying batik products. The result of the survey shows disparities from previous research. The first disparity is about the source of information that customer gets about the batik products. Second, the author’s survey constructs the customer taste about batik style and the result is 54.6% respondents choose traditional batik combined with modern style. Three cash flow scenarios with various income approach modification are conducted in order to make the valuation more comprehensive. The standard discounted cash flow valuation and adjusted present value are the approaches used to calculate the company valuation. From the result of each scenarios and methods showing different result of the company value, the highest number of company DCF valuation achieved by the employing the third scenario which equals to Rp. 9,788,406,837 and the highest APV equals to Rp. 7,407,851,820 contrived quantity for uniform contrived using three months moving average from thirty-six months data and average price of uniforms contrived using simple linear regression. Subsequently, and the total overall products items are increasing 30% align with the company strategy.