BUSINESS VALUATION OF JOINT OPERATION INTERNATIONAL FERRY TERMINAL BATAM CENTRE BETWEEN BIFZA AND PT SYNERGY THARADA (PTST) PERIOD 2021 â 2030 UNDER COVID-19 CONDITIONS
Port Management of the International Ferry Terminal Batam Centre is very important in Batam, knowing that Batam is a city located in a strategic area and have a special geographical position because it borders with neighboring countries which are the gateways for cross-borders among Indonesia, Si...
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| Format: | Theses |
| Language: | Indonesia |
| Subjects: | |
| Online Access: | https://digilib.itb.ac.id/gdl/view/62618 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | Port Management of the International Ferry Terminal Batam Centre is very important
in Batam, knowing that Batam is a city located in a strategic area and have a special
geographical position because it borders with neighboring countries which are the
gateways for cross-borders among Indonesia, Singapore, Malaysia, and Vietnam.
During the Covid-19 outbreak, the passenger decreased significantly by 38.78% in
number of passenger in 2019 to 2020.
However, the joint operation agreement between Batam Indonesia Free Zone
Authority (BIFZA) and PT Synergy Tharada (PTST) will be ended in 2024. The
Objective of this study is to make a decision whether should be continued as it is or
will be managed by BIFZA.
This study will evaluate and analyze the valuation in joint operation with PT Synergy
Tharada as evaluation to optimize Non-tax Revenue in BIFZA by using Discounted
Cash Flow (DCF) method. The data is collected from company financial performance
is secondary data period 2014-2020.
The NPV of terminal value result in 2030 with sensitivity analysis is showed Best
Scenario IDR 411,612,997,947, Most Likely Scenario 303,189,553,145, and Worse
Scenario 188,397,262,740 as reflects the value in business PTST in managing
International Ferry Terminal Batam Centre. According to the NPV calculation above
recommended to BIFZA to take over management of International Ferry Terminal
Batam Centre after joint operation ended in 2024 to optimize Non-tax Revenue in
BIFZA.
This study is benefited for the government and practitioners. Author also recommend
to The Management of BIFZA to improve service facilities to passengers of the
International Ferry Terminal Batam Centre which will make it as an attraction for
passengers and have an impact on increasing revenue. |
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