Funding Strategy Bali-Mandara Toll Road Rest Area Investment Plan

Erwin Rasyid; Sri Saraswati

doi:doi:10.11648/j.sjbm.20190703.11

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Funding Strategy Bali-Mandara Toll Road Rest Area Investment Plan

Erwin Rasyid, Sri Saraswati

Published in Science Journal of Business and Management (Volume 7, Issue 3)

Received: 22 May 2019 Accepted: 17 July 2019 Published: 5 August 2019

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Abstract

Construction of toll roads in Bali by PT. Jasamarga Bali Tol (JBT) as by PT. JBT has to pay the loans used for due to the loans of building the road. Even, though PT. JBT’s income is increasing, it has not been able to cover the obligations of the company to pay the loan. Then, PT. JBT considers making a rest area as a business unit to multiply their income. An effective analysis of investment will provide financial solutions for PT. JBT. This study aims at identifying the best funding pattern that can be implemented for the rest area investment plan. This research focuses on three funding patterns, namely the pattern of loans/debts, own costs, and Build-Operate-Transfer. After the results of the study, the following results were obtained: In the room rental pattern + business concession, there was a 7 year 9 month payback period, internal rate of return 9.52% (IRR <13%), and net present value of –Rp 75.72 billion in I = 13% and a period of10 years (NPV < 0). Meanwhile, the revenue-sharing pattern obtained a 6-year 8-month payback period, internal rate of return 13.55% (IRR > 13%), and the net present value of Rp. 12.93 billion (NPV > 0). Lastly, the loan pattern is not feasible because the NPV project is smaller than 0 (zero) and IRR <13%. The cost pattern is not feasible because it takes a long time to raise funds and the BOT pattern is possible because the NPV value is greater than 0 (zero) and IRR > 13%.

Published in	Science Journal of Business and Management (Volume 7, Issue 3)
DOI	10.11648/j.sjbm.20190703.11
Page(s)	59-66
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2019. Published by Science Publishing Group

Keywords

Funding Pattern, Business Feasibility Analysis, Capital Budgeting

References

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Erwin Rasyid, Sri Saraswati. (2019). Funding Strategy Bali-Mandara Toll Road Rest Area Investment Plan. Science Journal of Business and Management, 7(3), 59-66. https://doi.org/10.11648/j.sjbm.20190703.11

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ACS Style

Erwin Rasyid; Sri Saraswati. Funding Strategy Bali-Mandara Toll Road Rest Area Investment Plan. Sci. J. Bus. Manag. 2019, 7(3), 59-66. doi: 10.11648/j.sjbm.20190703.11

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AMA Style

Erwin Rasyid, Sri Saraswati. Funding Strategy Bali-Mandara Toll Road Rest Area Investment Plan. Sci J Bus Manag. 2019;7(3):59-66. doi: 10.11648/j.sjbm.20190703.11

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@article{10.11648/j.sjbm.20190703.11,
  author = {Erwin Rasyid and Sri Saraswati},
  title = {Funding Strategy Bali-Mandara Toll Road Rest Area Investment Plan},
  journal = {Science Journal of Business and Management},
  volume = {7},
  number = {3},
  pages = {59-66},
  doi = {10.11648/j.sjbm.20190703.11},
  url = {https://doi.org/10.11648/j.sjbm.20190703.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.sjbm.20190703.11},
  abstract = {Construction of toll roads in Bali by PT. Jasamarga Bali Tol (JBT) as by PT. JBT has to pay the loans used for due to the loans of building the road. Even, though PT. JBT’s income is increasing, it has not been able to cover the obligations of the company to pay the loan. Then, PT. JBT considers making a rest area as a business unit to multiply their income. An effective analysis of investment will provide financial solutions for PT. JBT. This study aims at identifying the best funding pattern that can be implemented for the rest area investment plan. This research focuses on three funding patterns, namely the pattern of loans/debts, own costs, and Build-Operate-Transfer. After the results of the study, the following results were obtained: In the room rental pattern + business concession, there was a 7 year 9 month payback period, internal rate of return 9.52% (IRR  13%), and the net present value of Rp. 12.93 billion (NPV > 0). Lastly, the loan pattern is not feasible because the NPV project is smaller than 0 (zero) and IRR  13%.},
 year = {2019}
}

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TY - JOUR
T1 - Funding Strategy Bali-Mandara Toll Road Rest Area Investment Plan
AU - Erwin Rasyid
AU - Sri Saraswati
Y1 - 2019/08/05
PY - 2019
N1 - https://doi.org/10.11648/j.sjbm.20190703.11
DO - 10.11648/j.sjbm.20190703.11
T2 - Science Journal of Business and Management
JF - Science Journal of Business and Management
JO - Science Journal of Business and Management
SP - 59
EP - 66
PB - Science Publishing Group
SN - 2331-0634
UR - https://doi.org/10.11648/j.sjbm.20190703.11
AB - Construction of toll roads in Bali by PT. Jasamarga Bali Tol (JBT) as by PT. JBT has to pay the loans used for due to the loans of building the road. Even, though PT. JBT’s income is increasing, it has not been able to cover the obligations of the company to pay the loan. Then, PT. JBT considers making a rest area as a business unit to multiply their income. An effective analysis of investment will provide financial solutions for PT. JBT. This study aims at identifying the best funding pattern that can be implemented for the rest area investment plan. This research focuses on three funding patterns, namely the pattern of loans/debts, own costs, and Build-Operate-Transfer. After the results of the study, the following results were obtained: In the room rental pattern + business concession, there was a 7 year 9 month payback period, internal rate of return 9.52% (IRR 13%), and the net present value of Rp. 12.93 billion (NPV > 0). Lastly, the loan pattern is not feasible because the NPV project is smaller than 0 (zero) and IRR 13%.
VL - 7
IS - 3
ER -

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Author Information

Erwin Rasyid

STIE Unisadhuguna and Universitas Budi Luhur, Jakarta, Indonesia
Sri Saraswati

STIE Unisadhuguna, Jakarta, Indonesia

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APA Style

Erwin Rasyid, Sri Saraswati. (2019). Funding Strategy Bali-Mandara Toll Road Rest Area Investment Plan. Science Journal of Business and Management, 7(3), 59-66. https://doi.org/10.11648/j.sjbm.20190703.11

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ACS Style

Erwin Rasyid; Sri Saraswati. Funding Strategy Bali-Mandara Toll Road Rest Area Investment Plan. Sci. J. Bus. Manag. 2019, 7(3), 59-66. doi: 10.11648/j.sjbm.20190703.11

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AMA Style

Erwin Rasyid, Sri Saraswati. Funding Strategy Bali-Mandara Toll Road Rest Area Investment Plan. Sci J Bus Manag. 2019;7(3):59-66. doi: 10.11648/j.sjbm.20190703.11

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@article{10.11648/j.sjbm.20190703.11,
  author = {Erwin Rasyid and Sri Saraswati},
  title = {Funding Strategy Bali-Mandara Toll Road Rest Area Investment Plan},
  journal = {Science Journal of Business and Management},
  volume = {7},
  number = {3},
  pages = {59-66},
  doi = {10.11648/j.sjbm.20190703.11},
  url = {https://doi.org/10.11648/j.sjbm.20190703.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.sjbm.20190703.11},
  abstract = {Construction of toll roads in Bali by PT. Jasamarga Bali Tol (JBT) as by PT. JBT has to pay the loans used for due to the loans of building the road. Even, though PT. JBT’s income is increasing, it has not been able to cover the obligations of the company to pay the loan. Then, PT. JBT considers making a rest area as a business unit to multiply their income. An effective analysis of investment will provide financial solutions for PT. JBT. This study aims at identifying the best funding pattern that can be implemented for the rest area investment plan. This research focuses on three funding patterns, namely the pattern of loans/debts, own costs, and Build-Operate-Transfer. After the results of the study, the following results were obtained: In the room rental pattern + business concession, there was a 7 year 9 month payback period, internal rate of return 9.52% (IRR  13%), and the net present value of Rp. 12.93 billion (NPV > 0). Lastly, the loan pattern is not feasible because the NPV project is smaller than 0 (zero) and IRR  13%.},
 year = {2019}
}

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