FINANCIAL RESTRUCTURING AND RELAXATION REGULATION IMPACT TO HOTEL COMPANY CASE STUDY : PT PUDJIADI AND SONS TBK.
This research is directed to determine the financial ability of PT Pudjiadi and Sons through valuation, for the restructuring and the negative net profit of the company. The purpose of this thesis is to calculate the company's free case flow in 3 different scenarios (Base, Worst and Up/Best). T...
Saved in:
| Main Author: | |
|---|---|
| Format: | Theses |
| Language: | Indonesia |
| Subjects: | |
| Online Access: | https://digilib.itb.ac.id/gdl/view/71987 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | This research is directed to determine the financial ability of PT Pudjiadi and Sons through valuation, for the restructuring and the negative net profit of the company. The purpose of this thesis is to calculate the company's free case flow in 3 different scenarios (Base, Worst and Up/Best). This analysis uses a top-down analysis, in which an analysis of macroeconomic conditions is carried out which explains the background for determining the financial assumptions for each scenario, while industry trends are also used to assess the reasonableness of the assumptions used.
This research analyzes the company's financial statements for the last 4 years (2018,
2019, 2020 and 2021) and projects them for the next 5 years (2023, 2024, 2025, 2026 and 2027). Through the development of a spreadsheet, these financial assumptions are managed for the preparation of a statement of financial position, income statement, cash flow statement, ratio analysis and free cash flow to the firm.
Based on the macroeconomic analysis, there are several variables that are not constant which can be used as the basis for scenario projections. When the industry analysis was carried out, the accommodation, hotel and property sector industries were badly affected by the economic crisis that occurred. Meanwhile, if a comparison is made between PT Pudjiadi and Sons and several similar companies, PT Pudjiadi and Sons is considered to be still better and able to recover more quickly. After analyzing each scenario, the authors conclude that PT Pudjiadi and Sons can survive the economic crisis and does not need a second restructuring. PT Pudjiadi and Sons' financial projection through Free cash flow to the firm (FCFF), is positive in 2024 for the base scenario and best scenario with a value of Rp. 3,100 Million and Rp. 10.351 Million. On the other hand, if the worst scenario assumption occurs, the company will have negative free cash flow to the firm in 2024 and will need large working capital.
|
|---|