RENCANA AKUISISI PT NUSANTARA TURBIN PROPULSI ( NTP )OLEH PT BAHANA PAKARYA INDUSTRI STRATEGIS ( BPIS )DALAM RANGKA PENGEMBANGAN PERUSAHAAN SERTA SINERGI ANTAR KELOMPOK PERUSAHAAN

• Main Author: Harsusanto
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/5084
• Institution: Institut Teknologi Bandung

<b>Abstract :</b><p align=\"justify\"> <br /> <br /> The identity (jati diri) of the nation is reflected on how they could survive from any kind of competition either in local scale nor regional scale. For doing so it is necessary to have stability in areas such as politic, economic and social. But the most important things is the empowerment to have a national independent policy ( kemandirian nasional ) which mean ready to explore human resource with science & technology orientation in order to prepare national structure and infra structure. <br /> <br /> PT. Bahana Pakarya Industri Strategis ( BPIS) as one of the State Owned Company who \' take care \' for Strategic Industries has the liability to develop business activities either in corporate level or in subsidiaries level in order to support goverment in the term of national independent policy ( kemandirian nasional ). <br /> <br /> Merger and / or Acquisition is one of the business activities which becoming popular in Indonesia in recent years. In year 2001 - 2002 PT. BPIS decide to acqusite several companies, one of them is PT. Nusantara Turbin & Propulsion ( NTP) a subsidiary of PT. Dirgantara Indonesia . <br /> <br /> The consideration of the aquisition plan ie. : <br /> - investment feasibility based on present value and prospect of the business development either as the individual company or groups. <br /> the healthiness of the target company. <br /> data validation of the target company. <br /> valuation it self <br /> <br /> From the calculation by using Discounted Of Future Benefit Methode, and by implementing the Free Cash Flow procedure, the valuation value of the NTP is Rp. 459,60 billion. <br /> <br /> This value is not the final value, PT. BPIS as the company who will acquisite PT. NTP has to assest more detail all the datas, such as financial datas, business avtivities, human resource etc., especially in the way how NTP estimate for the next 5 ( five ) years, and then comparing with book value in order to determine the fair acquisition value. <br /> <br /> In relation with sinergi which have to be happened after acquisition process, BPIS should identify the competence of the group subsidiaries which can be complimented with NTP in providing accessories and components for the turbines as the import substitution policy. <br /> <br /> Managerial Implication after acquisistion is something to be considered. BPIS should have the strategy and program to anticipate the whole thing and to drive the \' new NTP \' in the way BPIS wants.