CRISIS OF CONTAINER SHIP DURING PANDEMIC LOCKDOWN THAT AFFECT STOCK VALUATION OF CARGO TRANSPORTATION AND LOGISTICS COMPANY (CASE STUDY: SMDR)
Humans continue to travel using the sea and ships as a mode of human transportation to move places. However, ships currently carry more goods or cargo. The shipping industry is a strategic sector and plays a vital role in the world economy. COVID-19 appeared in early 2020 and became a disaster for t...
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| Main Author: | |
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| Format: | Theses |
| Language: | Indonesia |
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| Online Access: | https://digilib.itb.ac.id/gdl/view/68584 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | Humans continue to travel using the sea and ships as a mode of human transportation to move places. However, ships currently carry more goods or cargo. The shipping industry is a strategic sector and plays a vital role in the world economy. COVID-19 appeared in early 2020 and became a disaster for the world economy. Until finally slowly causing a container crisis to occur in the world. As a result, the price of container transport fares soared. Early January 2020 worth USD1,772 jumped to USD4,359 in December 2020. The index jumped much higher in September 2021 to USD10,361. PT Samudera Indonesia Tbk (SMDR), is one of the large private companies engaged in the shipping industry and is listed on the Indonesia Stock Exchange (IDX). The soaring cargo rates in the world are also a breath of fresh air as well as a challenge for the company. SMDR can take part and take advantage of the container crisis that will occur in the world in the near future.
This study aims to determine a fair price from SMDR to help investors make a decision to invest in SMDR. This research used the absolute valuation method and the relative valuation method by analyzing the financial statements for the past five years and projecting financial statements for the next few years. The author advises investors to invest in SMDR on the grounds that the fair price obtained using the discounted cash flow method is IDR 3,412 or 242% lower than the current market price. Investors are advised to make long-term investments considering the prediction of the container crisis that will continue until the end of 2023.
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