CD Skripsi
ANALISIS ALTERNATIF STRUKTUR PEMBIAYAAN UNTUK MEMENUHI KELAYAKAN INVESTASI PEMBANGUNAN PELABUHAN ROLL ON – ROLL OFF (RO-RO) PELABUHAN DUMAI
Dumai Port owned by PT Pelindo (Persero) is one of the ports that serves
international shipping to Melaka, Malaysia. The construction of the Dumai roll-on
roll-off (Ro-Ro) ferry port is intended to support the Master Plan of ASEAN
Connectivity, as well as the Establishment of an ASEAN roll on-roll off shipping
network and short-sea shipping which has been programmed by the government.
This research aims to obtain an alternative capital structure (DER) that can meet
the investment return requirements set by the company, namely IRR = 1.5 WACC.
The feasibility of port development is reviewed from the financial feasibility aspect
using general parameters Internal Rate of Return (IRR), Net Present Value (NPV),
and Payback Period (PP), as well as the Weighted Average Cost of Capital (WACC)
as the discount rate. The research data was taken from the Feasibility Study for the
Development of Ro-Ro Connections and the Business Collaboration Potential for
Port and Logistics for Ro-Ro Connections at Dumai Port - Tanjung Bruas Melaka
(2020). Based on the results of the analysis, the capital structure (DER) that can
meet project feasibility is with a ratio of 30% debt and 70% equity (own capital),
and with investment stages of 40% in the 1st stage and 60% in the 1st stage. -2.
This capital structure can provide a positive NPV value of IDR 13.515.105.735,
which shows that the project is financially feasible, but has not yet reached the
internal rate of return expected by the company. To achieve the IRR = 1.5 WACC
requirement as expected by the company, it is necessary to increase the tariff by
22,8% from the basic tariff which gives an IRR value = 1.5 WACC.
Keywords: Capital Structure, investment, NPV, IRR, discount factros, WACC
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