Pengaruh pergerakan sibor dan harga CPO pada yield to loan kredit modal kerja valuta USD :: Studi pada debitur korporasi Bank Mandiri untuk segmen industri hilir kelapa sawit

DIPPO, Alexander, Zaki Baridwan, Prof., Dr. ,M.Sc

2009 | Tesis | S2 Magister Manajemen

Industri kelapa sawit di Indonesia dijadikan salah satu industri andalan untuk mendukung pertumbuhan perekonomian Indonesia. Mengingat karekateristik industri kelapa sawit yang padat modal maka pertumbuhannya sangat bergantung pada dukungan dari institusi keuangan, termasuk perbankan. Di sisi lain perbankan dituntut untuk menjaga profitablitasnya sehingga harus diketahui faktor-faktor kunci untuk dapat menyalurkan pembiayaan yang favorable dan profitable. Studi ini dilakukan untuk mempelajari apakah variabel bebas SIBOR 1 month dan Harga CPO (kedua variabel tersebut selama ini digunakan sebagai faktor kunci dalam pembiayaan modal kerja khususnya kepada debitur di industri hilir kelapa sawit) mempengaruhi Yield to Loan Kredit Modal Kerja (KMK) valuta USD debitur korporasi Bank Mandiri yang bergerak di industri hilir kelapa sawit. Berdasarkan analisis dari studi ini diketahui bahwa tidak ada pengaruh pergerakan SIBOR (1 month) dan harga CPO pada yield to loan kredit modal kerja valuta US Dollar debitur korporasi Bank Mandiri yang bergerak di industri hilir kelapa sawit. Yield to Loan tidak dipengaruhi oleh pergerakan sukubunga (meskipun sukubunga kredit USD dipengaruhi oleh pergerakan SIBOR 1 month) dan utilitas KMK USD debitur korporasi Bank Mandiri yang bergerak di industri hilir kelapa sawit tidak dipengaruhi oleh pergerakan harga CPO.

Palm Oil Industry is one of the main industry to support Indonesia’s Economic Growth. As the characteristic of Palm Oil Industry which is supported by huge capital, its growth depend on the support from financial institutions, including Banking Industry. In other case, Banking Industry is obligated to maintain certain level of profit. In order to accomplish those objectives, Banking Industry have to identify the key success factors to perform favorable and profitable financing to the Palm Oil Industry. This study was performed to identify whether the independent variable of 1 month SIBOR and CPO Price which is used as key factors in working capital financing especially for customers in Upstream Palm Oil Industry, give effect to the yield to loan of USD working capital for Bank Mandiri’s customers in the Upstream Palm Oil Industry. Based on the analysis, 1 month SIBOR and CPO give no effect to the yield to loan of USD working capital for Bank Mandiri’s customers in the Upstream Palm Oil Industry. The yield to loan of USD working capital is not effected by the movement of the USD loan interest rate, eventhough the USD loan interest rate is effected by the movement of 1 month SIBOR. In other side the utilization of working capital for Upstream Palm Oil Industry is not effected by the movement of CPO Price.

Kata Kunci : SIBOR (1 month),Harga CPO,Yield to loan,Suku bunga kredit,Utilisasi kredit,Kredit modal kerja,Industri Hilir Kelapa Sawit, 1 month SIBOR, CPO Price, Yield to Loan, Loan Interest Rate, Credit’s Utilization, Working Capital, Upstream Palm Oil Industry