Kajian kalayakan dan sumber pendanaan untuk pengadaan peralatan bongkar muat petikemas di Unit UPTK Belawan

PETRUS, Pudji Hartoyo, Dr. Supriyadi, MSc

2002 | Tesis | Magister Manajemen

Pelayanan jasa bongkar muat petikemas sangat ditentukan oleh kelengkapan dan keandalan dari peralatan bongkar muat petikemas seperti gantry crane, transtainer dan head truck+ chassis. Sesuai dengan perkembangan arus petikemas di Unit UTPK Belawan yang terus meningkat, direncanakan penambahan peralatan bongkar muat petikemas pada tahun 2004 terdiri dari 1 unit gantry crane, 2 unit transtainer dan 4 unit head truck+ chassis. Untuk pengadaan peralatan tersebut, dilakukan kajian kelayakan investasi dan sumber pendanaan yang paling menguntungkan bagi perusahaan. Metode yang digunakan dalam menganalisis kelayakan investasi adalah discounted payback period, netpresent value (NPV), internal rate of return (IRR), mod$ed internal rate of return (MIRR) dan profitability index (PI). Sedang sumber pendanaan meliputi pembiayaan internal (sendiri) dengan discount rate 14% , term loan (hutang) 100% dengan cost of debt 12,6% , kombinasi internal (40%)/ tqrm loan (60%) dan capital lease (sewa guna). Perhitungan arus kas bersih (proceeds) pembiayaan internal diperoleh dari selisih pendapatan dengan arus kas keluar dikurangi pajak (earning after tax) ditambah dengan nilai penyusutan. Arus kas bersih pembiayaan term loan diperoleh dari laba setelah pajak (earning after tux) ditambah nilai penyusutan dan (1-T)bunga utang. Arus kas bersih pembiayaan sewa guna diperoleh dari selisih pendapatan dengan arus kas keluar yang meliputi biaya cicilan sewa dikurangi pajak. Dari hasil analisis kelayakan investasi dapat disimpulkan bahwa Unit UTPK Belawan layak untuk investasdpengadaan peralatan 1 unit gantry crane, 2 unit transtainer dan 4 unit head truck+chassis dengan pembiayaan internal, pembiayaan term loan, pembiayaan kombinasi internal dan term loan maupun pembiayaan sewa guna. Sumber pembiayaan yang paling menguntungkan perusahaan adalah dengan pembiayaan term loan 100% yang menghasilkan discounted payback period 3 tahun 6,3 bulan, net present value US$ 12.426.170,56 , internal rate of return 37,17%, mod@ed internal rate of return 22,57% dan profitability index 2,15.

The container loading and unloading service are hghly defined by the reliance on and fully equipped tools of loading and unloading such as gantry crane, transtainer and head truck + chassis and availabelity of equipments. Following to increasingly container troughput in Unit UTPK Belawan, it was planned to procure the container loading and unloading tools at 2004 consisted of 1 gantry crane unit, 2 transtainer units, and 4 head trucks + chassis. For those equipments procurement, it was implemented the observation upon the investment feasibility and resources which are most profit to the company. The research analyzed the investment feasibility using the method such as discounted payback period, net present value (NPV), internal rate of return (IRR), modified internal rate of return (MIRR) and profitability index (PI). While the resources covered the internal financing (itself) with discount rate 14%, entire term loan by cost of debt 12.6%, combination between internal financing (40%) with term loan (60%) and capital lease. The net cash flow (proceeds) of internal financing was obtained from the earning difference of disbursement cash flow decreased by earning after tax plus the depreciation values. The net cash flow of term loan financing was obtained from earning after tax plus the depreciation values and interest payable (1-T). The net cash flow of capital leasing was obtained from the difference between earnings and out cash flow, which covered cost of lease installment minus tax. From the analysis of investment feasibility can be concluded that Unit UTPK Belawan is feasible to invest or procure the equipments such as 1 gantry crane unit, 2 transtainer units, and 4 head truck+ chassis by the internal financing, term loan, combination internal financing with term loaa even the capital leasing. The most profit financing to the company is term loan 100% producing discounted payback period of 3 years and 6.3 months, net present value US$ 12,426,170.56, internal rate of return 37.17%, modified internal rate of return 22.57% and profitability index 2.15.

Kata Kunci : Manajemen Anggaran,Pengadaan