OPTIMUM CAPITAL STRUCTURE ANALYSIS (CASE STUDY: IPTN North America, Inc)

• Main Author: Cahyo Prihadi, Dimas
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/41365
• Institution: Institut Teknologi Bandung

IPTN North America, Inc. (INA, Inc.) is a subsidiary (Subsidiary company) which is 100% owned by PT. Dirgantara Indonesia (Persero). INA Inc. is engaged in trading and logistics business for aviation products in the last 3 years the company has expanded its business portfolio. The scope of the company's business includes domestic and international regions. Based on Markets and Markets in April 2018, aviation markets especially aerostructure products are projected to grow from USD52.17 billion in 2016 to USD75.97 billion in 2022 with a CAGR of 6.47%. The projected growth in demand for Avionic products opens an opportunity for INA, Inc. to carry out operational activities so that the company's target can be achieved. The creation of the company's operations to achieve its objectives is of course strongly influenced by a strong capital structure. 2017 Composition of capital structure INA, Inc. consists of 33.32% Bank Loan-Debt, 37.99% Debt excluding bank loans, and 28.69% capital ownership. Based on the analysis the optimum capital structure level for INA, Inc. is 10%, at the debt ratio level the value of INA, Inc. Weight Average Cost of Capital is at the lowest level, resulting in the value of INA Inc. at the highest value.