Asasdaasfdfgdgfdgs

Tanggal Editor
23-May-19 ILM
27-May-19 ILM
Perubahan
Perubahan asumsi kapasitas Serpo dan Homebase Serpo Feeder

Perubahan asumsi Valuasi RoW 10 %
Bulan tagih year 0 menjadi 3 bulan
Beban Opex Kepegawaian dan Adum 25% Investor; 75% ICON+
Sharing Revenue B2B = Investor 36 %
CAPEX Homeconnected (ONT) mengikuti take up pelanggan per tahun
CAPEX Homeconnected (ONT) tahun ke-6 ada Reinvest
Price Per Subs Rp.130.000
Perubahan scoop jangkauan Serpo dari 2000 homepass menjadi 10.000 homepass berdasar best practice MyRep dan Biznet
Perubahan harga Serpo menjadi Rp.350.000.000 per tahun (termasuk 2 field engineer, 1 helper, 1 homebase, set tools dan mo
Perubahan harga Per Visit Gangguan dari Rp.300.000 per Visit menjadi Rp.200.000,00 berdasar best practice beberapa service
Valuasi RoW tetap di 10%
Price Per Subs Rp.130.000
Item Detail Harga Satuan
Tenor Financial Model 10

120
Depresiasi Perangkat Homepass 10
120
Depresiasi Perangkat Home Connected 5
60
CoF (Cost of Fund) 15.50%
Inflasi 4.18%
Salvage Value 0.00%
Kurs 1 USD to IDR Rp 14,000
ROK Layanan
Resiko + Overhead
Keuntungan
WACC-1 15.50%
WACC-2 8.31%
WACC-3 10.82%
1. Pembangunan menggunakan skema Aerial

Keterangan
Tahun, untuk umur sewa layanan

Bulan
Tahun, untuk umur ekonomis barang
Bulan
Tahun, untuk umur ekonomis barang
Bulan
Cost of Equity (CAPM Method, Keuangan Internal)
source: www.bi.go.id, +- 1%, data Okt 2018
nilai ekonomi di akhir tenor financial model
source: ceiling atas Bank Indonesia (update regularly)
source: Resiko & Overhead sheet
Data Keuangan (Corp. Finance)

Pendanaan internal
Pendanaan pihak ketiga
Kombinasi
Note: if IRR < WACC = Ask BOD
if IRR > WACC = OK
INPUT :
A. Skenario Homepass
1. Jumlah Homepass Dibangun 500,000
2. Rasio OLT : Homepass (1: n) 512
3. Total Jumlah OLT untuk all Homepass 977
B. Harga Satuan Biaya Investasi

1. Rupiah per Homepass 1,514,587
2. Rupiah per Homeconnected (ONT + IKR) 890,000
2.1 Rupiah ONT (Per Unit) 600,000
2.2 Rupiah Jasa IKR (Per Home Connected) 290,000
2.2 Rupiah Material IKR (Per Home Connected) 200,000
5. Biaya Perijinan One Time per Homepass (dalam $) 1
C. Asumsi Penanganan Gangguan Feeder

1. Kemampuan Per Serpo (dalam Homepass) 10,000
2. Rupiah Serpo Per Tahun 350,000,000
3. Rupiah Sewa Homebase Per Tahun -
4. Material Stok Gangguan Per 2000 HP 59,998,205
5.Asumsi Kemampuan Homebase untuk Serpo (dalam Home 10,000
6. Jumlah Homebase 50
D. Biaya Operasional Gangguan IKR Ke Vendor

1. Biaya Visit Gangguan IKR 200,000
E. Biaya SDM Pengawas Per SBU

1. Asumsi HP Per SBU 5,000
2. Jumlah SBU 100
3. Jumlah Pengawas (Orang) per SBU 1
4. Biaya Per Bulan per Orang per SBU 4,100,000
F. Harga Jual Layanan

1. Harga per subscriber per bulan 130,000
2. OTC Aktivasi per HP 600,000
3. [Dari Mitra] OTC Visit Gangguan IKR ke Rumah 100,000
4. [Dari Mitra] OTC Dismantle AP & STB 50,000
G. Asumsi Parameter Keuangan

WACC WACC-1
15.50%
Cost of Debt 15.50%
Valuasi RoW 10%

H. ADOPTION PLAN MARKET B2C
Tahun ke -
Bulan Tagih New Revenue
Bulan Tagih CO
Curn Rate (%) 0.00%
Maximum Growth 60%

Take Up Ratio
Growth 1.00%
CAGR 10 Tahun
I. ADOPTION PLAN PEMBANGUNAN B2C

Tahun ke -
Jumlah Homepass yang Dibangun (Non Akumulasi)
Jumlah Homepass yang Dibangun (Akumulasi)
Home Connected (Accum)

Home Connected (Non Accum)
Jumlah Homepass untuk Reinvest ONT
Churned Customer
Home Connected After Churn Rate
J. ASUMSI GANGGUAN
a. Asumsi Jumlah Gangguan Keseluruhan Bobot
- Gangguan Fisik 50%
- IKR (Drop Wire, Accessories) 62%
- Feeder 38%
- Gangguan Non Fisik 50%
Tahun ke -
b. Persentase Jumlah Deaktivasi
c. Penanganan gangguan segmen Feeder - Distribusi menggunakan metode Serpo
- Asumsi Kemampuan Serpo (dalam Homepass) 2000
- Jumlah Serpo 250
100,000
90,000
80,000
70,000
60,000
50,000
40,000
135,000
130,000
125,000
120,000
115,000
110,000
105,000
100,000
95,000
90,000
85,000
80,000
75,000
Market B2B
Jenis Kuantitas per Cluster Th
1. Gerai ATM 4
2. Alfamart 2
3. Indomaret 2
4. SOHO (Perkantoran, Resto/Kafe) 10
5. Sekolah, Rumah Sakit 1
19
H. ADOPTION PLAN MARKET B2B

Tahun ke -
Bulan Tagih New Revenue
Bulan Tagih CO
Curn Rate (%) 0.00%
Tahun ke -
Jumlah Potensi B2B (Akumulasi) Growth
1. Gerai ATM 0%
2. Alfamart 0%
3. Indomaret 0%
4. SOHO (Perkantoran, Resto/Kafe) 5%
5. Sekolah, Rumah Sakit 0%
Jumlah Potensi B2B (Non Akumulasi)

1. Gerai ATM
2. Alfamart
3. Indomaret
4. SOHO (Perkantoran, Resto/Kafe)
5. Sekolah, Rumah Sakit
Take Up (Akumulasi) % Take Up

1. Gerai ATM 100%
2. Alfamart 100%
3. Indomaret 100%
4. SOHO (Perkantoran, Resto/Kafe) 50%
5. Sekolah, Rumah Sakit 50%
Take Up (Non Akumulasi)

1. Gerai ATM
2. Alfamart
3. Indomaret
4. SOHO (Perkantoran, Resto/Kafe)
5. Sekolah, Rumah Sakit
11
Referensi sheet : Ref BOQ_TOR_Detail_Update

Referensi sheet: Ref Sony Rensis
REF RAB Serpo'!A1

REF RAB Serpo'!A1
REF RAB Serpo'!A1
REF RAB Material Gangguan'!A1
Sheet 'Ref Biaya Visit Gangguan IKR'!A1
Sheet 'RAB Serpo Revisi'!A1
25
Biaya untuk accesories dan jasa
Sheet 'Ref Rupiah Mitra to ICON+'!A1
Sheet 'Ref Rupiah Mitra to ICON+'!A1
Pendanaan internal
0 1 2 3
3 12 12 12
0 12 12 12
0 2% 2.00% 2.00%
22% 28% 34% 42%

0 25% 24% 23%
11%
0 1 2 3
500,000 - - -
500,000 500,000 500,000 500,000
110,000 137,500 170,500 209,715

110,000 27,500 33,000 39,215
- 2,750 - 3,410 - 4,194

110,000 137,500 173,250 213,125
10% X Home Connected

5%
3%
2%
5%
0 1 2 3
0 2% 2% 2%
Sensitivity :
Parameter yang diuji sensitivity : Jumlah Homepass yang dibangun
Tingkat Sensitivity : 10,000
Impact NPV Impact IRR

938,398 45%
100,000
90,000
80,000
70,000
60,000
50,000
40,000
Parameter yang diuji sensitivity : Harga per subscriber per bulan

Tingkat Sensitivity : 5,000
Impact NPV Impact IRR

938,398 44.72%
135,000
130,000
125,000
120,000
115,000
110,000
105,000
100,000
95,000
90,000
85,000
80,000
75,000
Diskon 0%
Layanan BW (Mbps) HJT OTC
VPN 0.128 875,000 750,000
VPN 1 895,800 750,000
Inet Broadband 10 949,000 750,000
Inet Broadband 20 1,159,000 750,000
Inet Broadband 10 949,000 750,000
0 1 2 3
1 12 12 12
0 12 12 12
0 2% 2.00% 2.00%
0 1 2 3
- - - -
3,908 3,908 3,908 3,908
1,954 1,954 1,954 1,954
1,954 1,954 1,954 1,954
9,770 10,259 10,772 11,311
977 977 977 977
- - -
- - -
- - -
489 513 539
- - -
3,908 3,908 3,908 3,908

1,954 1,954 1,954 1,954
1,954 1,954 1,954 1,954
4,885 5,130 5,386 5,656
489 489 489 489
3,908 - - -
1,954 - - -
1,954 - - -
4,885 245 257 270
489 - - -
13,190 245 257 270
SUMMARY ANALYSIS :
NPV : 938,398
IRR : 44.72% per tahun
Payback : 3.00 ( tahun )
IRR : 3.73% per bulan

BEP : 1.96 Tahun
PROFIT : 3,452,935
PROFIT INDEX: 2.39
RESULT OK
TOTAL CAPEX (10 TAHUN) 1,445,086,169,327

TOTAL OPEX (10 TAHUN) 1,142,389,412,622
TOTAL REV (10 TAHUN) MRC 5,817,686,629,785
TOTAL REV (10 TAHUN) OTC 202,749,250,930
4 5 6 7
12 12 12 12
12 12 12 12
2.00% 2.00% 2.00% 2.00%
51% 60% 60% 60%

22% 21% 20% 19%
4 5 6 7
- - - -
500,000 500,000 500,000 500,000
255,852 300,000 300,000 300,000

46,137 44,148 - -
137,500 33000.00
- 5,117 - 6,000 - 6,000 - 6,000
260,047 305,117 306,000 306,000
4 5 6 7
2% 2% 2% 2%
Profit Index
2.39
100,000
90,000
80,000
70,000
60,000
50,000
40,000
Profit Index
2.39
135,000
130,000
125,000
120,000
115,000
110,000
105,000
100,000
95,000
90,000
85,000
80,000
75,000
36%
Pembayaran to Investor Monthly
315,000
322,488
341,640
417,240
341,640
4 5 6 7
12 12 12 12
12 12 12 12
2.00% 2.00% 2.00% 2.00%
4 5 6 7
- - - -
3,908 3,908 3,908 3,908
1,954 1,954 1,954 1,954
1,954 1,954 1,954 1,954
11,877 12,471 13,095 13,750
977 977 977 977
- - - -
- - - -
- - - -
566 594 624 655
- - - -
3,908 3,908 3,908 3,908

1,954 1,954 1,954 1,954
1,954 1,954 1,954 1,954
5,939 6,236 6,548 6,875
489 489 489 489
- - - -
- - - -
- - - -
283 297 312 328
- - - -
283 297 312 328
SUMMARY ANALYSIS :
INVESTOR
NPV : -6,647
IRR : 15.30% per tahun
Payback : 4 ( tahun )
IRR : 1.28% per bulan

BEP : 4.59 Tahun
PROFIT : 1,783,824
PROFIT INDEX: 0.99
RESULT ASK BOD
TOTAL CAPEX (10 TAHUN) 1,444,536,169,327

TOTAL OPEX (10 TAHUN) 461,637,498,773
TOTAL REV (10 TAHUN) 3,193,421,764,207
8 9 10
12 12 12
12 12 12
2.00% 2.00% 2.00% Ada win back programee di tahun berikutnya
60% 60% 60%

18% 17% 16%
8 9 10
- - -
500,000 500,000 500,000
300,000 300,000 300,000

- - -
39,215 46,137 44,148
- 6,000 - 6,000 - 6,000
306,000 306,000 306,000
8 9 10
2% 2% 2%
8 9 10
12 12 12
12 12 12
2.00% 2.00% 2.00% Ada win back programee di tahun berikutnya
8 9 10
- - -
3,908 3,908 3,908
1,954 1,954 1,954
1,954 1,954 1,954
14,438 15,160 15,918
977 977 977
- - -
- - -
- - -
688 722 758
- - -
3,908 3,908 3,908

1,954 1,954 1,954
1,954 1,954 1,954
7,219 7,580 7,959
489 489 489
- - -
- - -
- - -
344 361 379
- - -
344 361 379
i tahun berikutnya
i tahun berikutnya
FINMOD 10 Thn 445682706.xlsx
ANALISIS FINANSIAL (FINANSIAL MODEL)
Angka dalam Satuan
COST OF EQUITY (Cost of fund, COF) /THN

INFLASI PER-TAHUN (DALAM RUPIAH)%
JANGKA WAKTU LAYANAN (TAHUN)
UMUR AKTIVA TETAP (TAHUN)
TOTAL PROJECT COST (TPC)
SALVAGE VALUE (%)
SALVAGE VALUE (Rp)
PENYUSUTAN
KURS
TAHUN
INVESTASI
PENDAPATAN (Income / Savings)
- Pendapatan
- Pendapatan Lain-lain (OTC)
-
BEBAN= Jumlah Biaya
- Total OPEX
- Depreciation
LABA/RUGI USAHA (EBIT) = pend.- beban
EBIT di luar Depresiasi/Amortisasi (EBITDA)
BEBAN DI LUAR USAHA ( interest I )

- Bunga Pinjaman ( flat dari sisa)
LABA / RUGI BERSIH( EBIT) = laba- bunga
PPh Badan -25%
LABA / RUGI BERSIH STL PPH ( Net Income )
### ALIRAN KAS ( pada tahun ke.. )

1 Pengeluaran ( - )
- Inves/Cap.expend (Awal, dll. )
- Angsuran pokok(Prin Repay)
2 Pemasukan (+ )
- Laba bersih (Net Inc)
- Penyusutan(Depr., amorti.)
- Hutang
- Perubahan modal kerja/ChWC
3 Aliran Kas bersih
### ANALISIS
- COF or Cost of Capital /tahun
- Risk Premium
ICON+ Confidential 11/06/2019 Page 23

PERIODE : 10 Tahun
SUMMARY ANALYSIS :
1,000,000 NPV :
IRR :
15.50% Payback :
4.18% IRR :
10 BEP :
10 PROFIT :
1,444,536 PROFIT INDEX:
0.00%
0 RESULT
144,454 per Tahun
14,000
0 1 2 3
836,401 17,114 20,529 24,387
131,942 386,354 443,920 515,846
56,050 369,107 423,228 491,255
75,892 17,247 20,691 24,591
- - -
- 18,734 226,594 233,360 249,397
18,734 82,140 88,907 104,943
- 144,454 144,454 144,454
113,207 159,760 210,560 266,450
113,207 304,214 355,013 410,903
- - - -
- - - -
113,207 159,760 210,560 266,450
25% 28,302 39,940 52,640 66,612
75,892 17,247 20,691 24,591
160,798 137,067 178,611 224,428
0 1 2 3
836,401 17,114 20,529 24,387
836,401 17,114 20,529 24,387
- - - -
160,798 281,521 323,065 368,882
160,798 137,067 178,611 224,428
144,454 144,454 144,454
- - - -
- - - -
-675,603 264,407 302,535 344,495
Disc.Factor
15.50% THN
0.00% 1

ALIRAN KAS BERSIH

ARY ANALYSIS : 600,000
436,431 438,484
391,345
400,000 344,495
938,398 264,407 302,535
44.72% per tahun 200,000
3.00 ( tahun )
0
3.73% per bulan 1 2 3 4 5 6 7 8
-56,494
1.96 Tahun -200,000
3,452,935 -400,000
2.39
-600,000
-675,603
-800,000
OK
Ali ran Kas bersi h
4 5 6 7 8 9 10
28,504 26,489 491,663 - - - -
595,820 667,499 645,312 651,142 655,847 660,785 665,969
566,876 639,558 643,848 649,666 654,359 659,284 664,455
28,944 27,941 1,464 1,476 1,488 1,501 1,514
267,218 280,133 259,643 261,068 262,296 263,575 264,907

122,764 135,679 115,190 116,614 117,842 119,121 120,454
144,454 144,454 144,454 144,454 144,454 144,454 144,454
328,602 387,366 385,669 390,073 393,551 397,210 401,062
473,055 531,820 530,122 534,527 538,005 541,664 545,515
- - - - - - -
- - - - - - -
328,602 387,366 385,669 390,073 393,551 397,210 401,062
82,150 96,842 96,417 97,518 98,388 99,303 100,265
28,944 27,941 1,464 1,476 1,488 1,501 1,514
275,395 318,466 290,716 294,031 296,652 299,408 302,311
4 5 6 7 8 9 10
28,504 26,489 491,663 - - - -
28,504 26,489 491,663 - - - -
- - - - - - -
419,849 462,920 435,169 438,484 441,105 443,862 446,764
275,395 318,466 290,716 294,031 296,652 299,408 302,311
144,454 144,454 144,454 144,454 144,454 144,454 144,454
- - - - - - -
- - - - - - -
391,345 436,431 (56,494) 438,484 441,105 443,862 446,764
NPV IRR THN NPV IRR

228,924 -60.86% 6 1,087,724 37.43%

AS BERSIH
436,431 438,484 441,105 443,862 446,764
6 7
-56,494 8 9 10 11
s bersi h
THN NPV IRR

1 228,924 -60.86%

- Discount Factor (ket: nilai uang yang akan datang)
- COF or Cost of Capital /bulan
- PV pada DF
- PV Equity or Invest Awal
- NPV Project
- IRR
- I R R (2nd Method)
- Cumulative NCF (Net Cash Flow)
- Payback Period Project (Tahun ke-n)
- Break Even Point (BEP) (Durasi)
- BC Ratio (PV / I) (ket: profitability index)
- Return (all years tenor fin.model)
- ROI = Return (PV) / Investment

ng yang akan datang) 15.50% 2
1.292% 3
1,614,001 4
-675,603 5
938,398
44.72%
44.72% (per tahun)
-675,603 -411,196 -108,660 235,834
3.00
1.96 (tahun)
bility index) 2.39
3,452,935
238.90%

455,708 -10.71% 7 1,247,636 40.75%

679,290 15.82% 8 1,386,915 42.72%
1,259,149 30.05% 9 1,508,257 43.94%
0 38.08% 10 1,614,001 44.72%
1,302,782 1,474,806 1,115,777 1,209,767 1,259,527 1,266,958 1,770,216

2 455,708 -10.71%
3 679,290 15.82%
4 1,259,149 30.05%
5 0 38.08%
6 1,087,724 37.43%
7 1,247,636 40.75%
8 1,386,915 42.72%
9 1,508,257 43.94%
10 1,614,001 44.72%

FINMOD 10 Thn (INVESTOR) 445682706.xlsx
ANALISIS FINANSIAL (FINANSIAL MODEL)
Angka dalam Satuan
COST OF EQUITY (Cost of fund, COF) /THN

INFLASI PER-TAHUN (DALAM RUPIAH)%
JANGKA WAKTU LAYANAN (TAHUN)
UMUR AKTIVA TETAP (TAHUN)
TOTAL PROJECT COST (TPC)
SALVAGE VALUE (%)
SALVAGE VALUE (Rp)
PENYUSUTAN
KURS
TAHUN
INVESTASI
PENDAPATAN (Income / Savings)
- Pendapatan
- Pendapatan Lain-lain (OTC)
-
BEBAN= Jumlah Biaya
- Total OPEX
- Depreciation
LABA/RUGI USAHA (EBIT) = pend.- beban
EBIT di luar Depresiasi/Amortisasi (EBITDA)
BEBAN DI LUAR USAHA ( interest I )

- Bunga Pinjaman ( flat dari sisa)
LABA / RUGI BERSIH( EBIT) = laba- bunga
PPh Badan -25%
LABA / RUGI BERSIH STL PPH ( Net Income )
### ALIRAN KAS ( pada tahun ke.. )

1 Pengeluaran ( - )
- Inves/Cap.expend (Awal, dll. )
- Angsuran pokok(Prin Repay)
2 Pemasukan (+ )
- Laba bersih (Net Inc)
- Penyusutan(Depr., amorti.)
- Hutang
- Perubahan modal kerja/ChWC
3 Aliran Kas bersih
### ANALISIS
- COF or Cost of Capital /tahun
- Risk Premium

PERIODE : 10 Tahun
SUMMARY ANALYSIS :
1,000,000 NPV :
IRR :
15.50% Payback :
4.18% IRR :
10 BEP :
10 PROFIT :
1,444,536 PROFIT INDEX:
0.00%
0 RESULT
144,454 per Tahun
14,000
0 1 2 3
835,851 17,114 20,529 24,387
31,838 190,246 223,489 265,469
31,838 190,246 223,489 265,469
- - - -
- - -
- 8,554 180,645 182,419 187,643
8,554 36,191 37,965 43,190
- 144,454 144,454 144,454
23,284 9,602 41,071 77,826
23,284 154,055 185,524 222,279
- - - -
- - - -
23,284 9,602 41,071 77,826
25% 5,821 2,400 10,268 19,456
- - - -
17,463 7,201 30,803 58,369
0 1 2 3
835,851 17,114 20,529 24,387
835,851 17,114 20,529 24,387
- - - -
17,463 151,655 175,257 202,823
17,463 7,201 30,803 58,369
144,454 144,454 144,454
- - - -
- - - -
-818,388 134,541 154,727 178,436
Disc.Factor
15.50% THN
0.00% 1

ALIRAN KAS BERSIH

ARY ANALYSIS : 400,000
237,770 272,516
178,436 205,038
200,000 134,541 154,727
-6,647
15.30% per tahun 0
4.00 ( tahun ) 1 2 3 4 5 6 7 8
-200,000
1.28% per bulan -220,267
4.59 Tahun -400,000
1,783,824 -600,000
0.99
-800,000
-818,388
-1,000,000
ASK BOD
Ali ran Kas bersi h
4 5 6 7 8 9 10
28,504 26,489 491,663 - - - -
312,197 357,016 358,569 361,030 362,720 364,493 366,354
312,197 357,016 358,569 361,030 362,720 364,493 366,354
- - - - - - -
193,412 197,276 189,312 190,281 191,219 192,197 193,215

48,959 52,822 44,859 45,827 46,765 47,743 48,761
144,454 144,454 144,454 144,454 144,454 144,454 144,454
118,784 159,740 169,257 170,750 171,501 172,296 173,139
263,238 304,193 313,710 315,203 315,955 316,750 317,593
- - - - - - -
- - - - - - -
118,784 159,740 169,257 170,750 171,501 172,296 173,139
29,696 39,935 42,314 42,687 42,875 43,074 43,285 -
- - - - - - -
89,088 119,805 126,942 128,062 128,626 129,222 129,855
4 5 6 7 8 9 10
28,504 26,489 491,663 - - - -
28,504 26,489 491,663 - - - -
- - - - - - -
233,542 264,258 271,396 272,516 273,079 273,676 274,308
89,088 119,805 126,942 128,062 128,626 129,222 129,855
144,454 144,454 144,454 144,454 144,454 144,454 144,454
- - - - - - -
- - - - - - -
205,038 237,770 (220,267) 272,516 273,079 273,676 274,308
NPV IRR THN NPV IRR

116,486 -83.56% 6 486,389 -6.88%

AS BERSIH
237,770 272,516 273,079 273,676 274,308
6 7 8 9 10 11
-220,267
s bersi h
- -
THN NPV IRR

1 116,486 -83.56%

- Discount Factor (ket: nilai uang yang akan datang)
- COF or Cost of Capital /bulan
- PV pada DF
- PV Equity or Invest Awal
- NPV Project
- IRR
- I R R (2nd Method)
- Cumulative NCF (Net Cash Flow)
- Payback Period Project (Tahun ke-n)
- Break Even Point (BEP) (Durasi)
- BC Ratio (PV / I) (ket: profitability index)
- Return (all years tenor fin.model)
- ROI = Return (PV) / Investment

ng yang akan datang) 15.50% 2
1.292% 3
811,741 4
-818,388 5
(6,647)
15.30%
15.30% (per tahun)
-818,388 -683,847 -529,120 -350,684
4.00
4.59 (tahun)
bility index) 0.99
1,783,824
99.19%

232,471 -47.53% 7 585,773 4.58%

348,278 -22.66% 8 671,998 9.88%
650,106 -6.95% 9 746,815 13.13%
0 3.34% 10 811,741 15.30%
672,742 775,971 400,977 495,057 563,098 599,004 1,093,579

2 232,471 -47.53%
3 348,278 -22.66%
4 650,106 -6.95%
5 0 3.34%
6 486,389 -6.88%
7 585,773 4.58%
8 671,998 9.88%
9 746,815 13.13%
10 811,741 15.30%

EXPENSE TYPE ITEM
CAPEX TOTAL Ref: Sheet "CAPEX"
1 Material Stok Gangguan ONT
2 Material Stok Gangguan Feeder (kabel, assesoris,dll)
3 Pembangunan Homepass
4 Material ONT
5 Reinvest OLT
6 Infra Pendukung dan Perijinan
OPEX TOTAL Ref: Sheet "OPEX"

1 Jasa Rupiah Gangguan IKR
2 Serpo untuk Gangguan Feeder-Distribusi
3 Homebase Feeder - Distribusi
4 Biaya Lastmile (Jasa + Accessories)
5 Biaya Lastmile (Material Dropwire)
6 Personil Koordinator
0
7 Overhead
Beban Kepegawaian
Beban Administrasi Umum
Beban Pemasaran
8 Beban BHP USO
Valuasi ROW Ref: Sheet "REF Valuasi ROW"

1 Valuasi ROW
TOTAL EXPENSE
PERCENTAGE
Fixed Share from Revenue
Nilai (Total 10 thn) ICON+ Partner
5,580,000,000 - - 5,580,000,000 0.19%

2,999,910,250 - - 2,999,910,250
757,293,259,077 - - 757,293,259,077 25.71%
360,000,000,000 - - 360,000,000,000 12.22%
311,663,000,000 - - 311,663,000,000 10.58%
7,000,000,000 550,000,000 0.02% 7,000,000,000 0.24%
- -
16,451,164,605 16,451,164,605 0.56% - -

216,244,049,673 - - 216,244,049,673 7.34%
- - - - -
62,656,493,750 62,656,493,750 2.13% - -
43,211,375,000 - - 43,211,375,000 1.47%
65,861,759,129 65,861,759,129 2.24%
- -
485,236,977,841 363,927,733,380 12.36% 121,309,244,460 4.12%
141,527,451,870 106,145,588,903 3.60% 35,381,862,968 1.20%
40,436,414,820 40,436,414,820 1.37% - -
70,763,725,935 70,763,725,935 2.40% - -
- -
-
357,582,868,200 357,582,868,200 12.14% - -
1,084,375,748,723 1,860,682,701,427
36.82% 63.18%
130,000 Rp47,866 Rp82,134
Jumlah Homepass 500,000
Takeup Ration Max 60%
Jumlah Home Connected 300,000
Harga Subscriber per bulan 130,000 Rp/bulan
Valuasi ROW 10%
Jangka waktu 10 tahun
Tahun 1 2 3
Total Revenue 42,900,000,000 211,068,000,000 261,690,000,000
Valuasi ROW 4,290,000,000 21,106,800,000 26,169,000,000
Total Valuasi ROW 357,582,868,200
4 5 6 7 8
326,040,000,000 397,799,688,000 466,429,654,080 466,462,939,925 467,812,800,000
32,604,000,000 39,779,968,800 46,642,965,408 46,646,293,992 46,781,280,000
9 10
467,812,800,000 467,812,800,000
46,781,280,000 46,781,280,000
REVENUE
130,000
Harga per subscriber per bulan
OTC Aktivasi per HP 600,000
Revenue B2C Year

Tahun Ke- 0 1 2 3 4 5 6 7 8 9 10 TOTAL REVENUE
Max Homepass 500,000
Takeup Ratio 22% 28% 34% 42% 51% 60% 60% 60% 60% 60% 60%
Jumlah pelanggan (Non Akum) 110,000 27,500 33,000 39,215 46,137 44,148 - - - - -
Akumulasi Pelanggan (Akum) 110,000 137,500 173,250 213,125 260,047 305,117 306,000 306,000 306,000 306,000 306,000
Bulan Tagih New Revenue 3 12 12 12 12 12 12 12 12 12 12
Bulan Tagih CO - 12 12 12 12 12 12 12 12 12 12
New Revenue 42,900,000,000 42,900,000,000 51,480,000,000 61,175,400,000 71,974,188,000 68,870,412,000 - - - - -
Revenue Carry Over - 168,168,000,000 210,210,000,000 264,864,600,000 325,825,500,000 397,559,242,080 466,462,939,925 467,812,800,000 467,812,800,000 467,812,800,000 467,812,800,000
Total Revenue 42,900,000,000 211,068,000,000 261,690,000,000 326,040,000,000 397,799,688,000 466,429,654,080 466,462,939,925 467,812,800,000 467,812,800,000 467,812,800,000 467,812,800,000 4,043,641,482,005
Revenue Lain (OTC)

- Pendapatan OTC 66,000,000,000 16,500,000,000 19,800,000,000 23,529,000,000 27,682,380,000 26,488,620,000 - - - - -
- Deaktivasi 137,500,000 170,500,000 209,715,000 255,852,300 300,000,000 300,000,000 300,000,000 300,000,000 300,000,000 300,000,000 -
- Visit Gangguan 426,250,000 528,550,000 650,116,500 793,142,130 930,000,000 930,000,000 930,000,000 930,000,000 930,000,000 930,000,000
Total Pendapatan OTC B2C 66,000,000,000 17,063,750,000 20,499,050,000 24,388,831,500 28,731,374,430 27,718,620,000 1,230,000,000 1,230,000,000 1,230,000,000 1,230,000,000 1,230,000,000
Revenue B2B Year


Bulan Tagih CO - 12 12 12 12 12 12 12 12 12 12
Pendapatan OTC
1. Gerai ATM 2,931,000,000 - - - - - - - - - -
2. Alfamart 1,465,500,000 - - - - - - - - - -
3. Indomaret 1,465,500,000 - - - - - - - - - -
4. SOHO (Perkantoran, Resto/Kafe) 3,663,750,000 183,375,000 192,375,000 202,125,000 212,250,000 222,750,000 234,000,000 245,625,000 258,000,000 270,750,000 284,250,000
5. Sekolah, Rumah Sakit 366,375,000 - - - - - - - - - -
Jumlah Pendapatan OTC 9,892,125,000 183,375,000 192,375,000 202,125,000 212,250,000 222,750,000 234,000,000 245,625,000 258,000,000 270,750,000 284,250,000
New Revenue
1. Gerai ATM 3,419,500,000 - - - - - - - - - -
2. Alfamart 1,750,393,200 - - - - - - - - - -
3. Indomaret 1,854,346,000 - - - - - - - - - -
4. SOHO (Perkantoran, Resto/Kafe) 5,661,715,000 3,400,506,000 3,567,402,000 3,748,206,000 3,935,964,000 4,130,676,000 4,339,296,000 4,554,870,000 4,784,352,000 5,020,788,000 5,271,132,000
Revenue Carry Over
1. Gerai ATM 40,213,320,000 40,213,320,000 40,213,320,000 40,213,320,000 40,213,320,000 40,213,320,000 40,213,320,000 40,213,320,000 40,213,320,000 40,213,320,000
2. Alfamart 20,584,624,032 20,584,624,032 20,584,624,032 20,584,624,032 20,584,624,032 20,584,624,032 20,584,624,032 20,584,624,032 20,584,624,032 20,584,624,032
3. Indomaret 21,807,108,960 21,807,108,960 21,807,108,960 21,807,108,960 21,807,108,960 21,807,108,960 21,807,108,960 21,807,108,960 21,807,108,960 21,807,108,960
4. SOHO (Perkantoran, Resto/Kafe) 66,581,768,400 69,914,264,280 73,410,318,240 77,083,560,120 80,940,804,840 84,988,867,320 89,241,377,400 93,705,150,000 98,393,814,960 103,314,187,200
5. Sekolah, Rumah Sakit 5,451,777,240 5,451,777,240 5,451,777,240 5,451,777,240 5,451,777,240 5,451,777,240 5,451,777,240 5,451,777,240 5,451,777,240 5,451,777,240
Total Revenue 13,149,540,700 158,039,104,632 161,538,496,512 165,215,354,472 169,076,354,352 173,128,311,072 177,384,993,552 181,853,077,632 186,546,332,232 191,471,433,192 196,642,149,432
GRAND TOTAL REVENUE

B2B DAN B2C 56,049,540,700 369,107,104,632 423,228,496,512 491,255,354,472 566,876,042,352 639,557,965,152 643,847,933,477 649,665,877,632 654,359,132,232 659,284,233,192 664,454,949,432
OTC B2B dan B2C 75,892,125,000 17,247,125,000 20,691,425,000 24,590,956,500 28,943,624,430 27,941,370,000 1,464,000,000 1,475,625,000 1,488,000,000 1,500,750,000 1,514,250,000
Revenue B2B UNTUK INVESTOR Year

Bulan Tagih CO - 12 12 12 12 12 12 12 12 12 12
New Revenue
1. Gerai ATM 1,231,020,000 - - - - - - - - - -
2. Alfamart 630,141,552 - - - - - - - - - -
3. Indomaret 667,564,560 - - - - - - - - - -
4. SOHO (Perkantoran, Resto/Kafe) 2,038,217,400 1,224,182,160 1,284,264,720 1,349,354,160 1,416,947,040 1,487,043,360 1,562,146,560 1,639,753,200 1,722,366,720 1,807,483,680 1,897,607,520
Revenue Carry Over
1. Gerai ATM 14,476,795,200 14,476,795,200 14,476,795,200 14,476,795,200 14,476,795,200 14,476,795,200 14,476,795,200 14,476,795,200 14,476,795,200 14,476,795,200
2. Alfamart 7,410,464,652 7,410,464,652 7,410,464,652 7,410,464,652 7,410,464,652 7,410,464,652 7,410,464,652 7,410,464,652 7,410,464,652 7,410,464,652
3. Indomaret 7,850,559,226 7,850,559,226 7,850,559,226 7,850,559,226 7,850,559,226 7,850,559,226 7,850,559,226 7,850,559,226 7,850,559,226 7,850,559,226
4. SOHO (Perkantoran, Resto/Kafe) 23,969,436,624 25,169,135,141 26,427,714,566 27,750,081,643 29,138,689,742 30,595,992,235 32,126,895,864 33,733,854,000 35,421,773,386 37,193,107,392
5. Sekolah, Rumah Sakit 1,962,639,806 1,962,639,806 1,962,639,806 1,962,639,806 1,962,639,806 1,962,639,806 1,962,639,806 1,962,639,806 1,962,639,806 1,962,639,806
Total Revenue 4,733,834,652 56,894,077,668 58,153,858,744 59,477,527,610 60,867,487,567 62,326,191,986 63,858,597,679 65,467,107,948 67,156,679,604 68,929,715,949 70,791,173,796
ICON+ B2C 37% 20,637,540,372 135,905,891,078 155,833,483,632 180,881,093,478 208,724,764,979 235,486,377,962 237,065,951,914 239,208,129,279 240,936,193,953 242,749,624,868 244,653,491,766
REVENUE ICON ICON+ B2B 13,149,540,700 158,039,104,632 161,538,496,512 165,215,354,472 169,076,354,352 173,128,311,072 177,384,993,552 181,853,077,632 186,546,332,232 191,471,433,192 196,642,149,432
TOTAL 33,787,081,072 293,944,995,710 317,371,980,144 346,096,447,950 377,801,119,331 408,614,689,034 414,450,945,466 421,061,206,911 427,482,526,185 434,221,058,060 441,295,641,198
INVESTOR B2C 63% 27,104,143,854 133,352,387,762 165,335,277,509 205,991,493,290 251,329,136,798 294,689,427,551 294,710,457,489 295,563,296,688 295,563,296,688 295,563,296,688 295,563,296,688
REVENUE
INVESTOR INVESTOR B2B 4,733,834,652 56,894,077,668 58,153,858,744 59,477,527,610 60,867,487,567 62,326,191,986 63,858,597,679 65,467,107,948 67,156,679,604 68,929,715,949 70,791,173,796
TOTAL 31,837,978,506 190,246,465,429 223,489,136,254 265,469,020,900 312,196,624,364 357,015,619,537 358,569,055,168 361,030,404,636 362,719,976,292 364,493,012,637 366,354,470,484
Tahun 0
Jumlah Pelanggan (Non Akum) 110,000
Jumah Pelanggan (Akum) 110,000
CAPEX 0
Homepass Built 500,000
Total OLT&SYSTEM 977
Material Stok Gangguan ONT 2,557,500,000
Material Stok Gangguan Feeder (kabel, assesoris,dll) 2,999,910,250
Pembangunan Homepass 757,293,259,077
Material ONT 600,000 66,000,000,000
Reinvest OLT
System (CRM, Helpdesk, dll), Infra Pendukung dan Perijinan 7,550,000,000
TOTAL CAPEX 836,400,669,327
Catatan :
- Command Center BLNP yang dimaksud adalah perangkat kerja yang masa manfaatnya bisa mencapai 5 tahun (maksimal)
- Sistem CRM tidak akan memunculkan biaya lisensi di OPEX karena menggunakan skema Community Open Source
1 2 3 4 5 6
27,500 33,000 39,215 46,137 44,148 -
137,500 170,500 209,715 255,852 300,000 300,000
613,800,000 729,399,000 858,153,780 821,147,220 - -

-
- - - - -
16,500,000,000 19,800,000,000 23,529,000,000 27,682,380,000 26,488,620,000 180,000,000,000
311,663,000,000
17,113,800,000 20,529,399,000 24,387,153,780 28,503,527,220 26,488,620,000 491,663,000,000
bisa mencapai 5 tahun (maksimal)

ma Community Open Source
7 8 9 10
- - - -
300,000 300,000 300,000 300,000
- - - -
- - - -
- - - -
- - - - 1,445,086,169,327
Tahun 0
Jumlah Pelanggan (Non Akum) -
Jumah Pelanggan (Akum) -
CAPEX 0
Material Stok Gangguan ONT -
Material Stok Gangguan Feeder (kabel, assesoris,dll) -
Pembangunan Homepass -
Material ONT -
Reinvest OLT -
System (CRM, Helpdesk, dll), Infra Pendukung dan Perijinan 550,000,000
TOTAL CAPEX 550,000,000
Catatan :
1 2 3 4 5 6
110,000 27,500 33,000 39,215 46,137 44,148
110,000 137,500 170,500 209,715 255,852 300,000
- - - - - -
-
- - - - -
- - - - - -
- - - - - -
ya bisa mencapai 5 tahun (maksimal)

ema Community Open Source
7 8 9 10
- - - -
300,000 300,000 300,000 300,000
- - - -
- - - -
- - - - 550,000,000
Tahun 0
Jumlah Pelanggan (Non Akum) -
Jumah Pelanggan (Akum) -
CAPEX
Material Stok Gangguan ONT 2,557,500,000
Material Stok Gangguan Feeder (kabel, assesoris,dll) 2,999,910,250
Pembangunan Homepass 757,293,259,077
Material ONT 66,000,000,000
Reinvest OLT -
Infra Pendukung dan Perijinan 7,000,000,000
TOTAL CAPEX 835,850,669,327
Catatan :
1 2 3 4 5 6
110,000 27,500 33,000 39,215 46,137 44,148
110,000 137,500 170,500 209,715 255,852 300,000
613,800,000 729,399,000 858,153,780 821,147,220 - -

- - - - - -
- - - - - -
16,500,000,000 19,800,000,000 23,529,000,000 27,682,380,000 26,488,620,000 180,000,000,000
- - - - - 311,663,000,000
17,113,800,000 20,529,399,000 24,387,153,780 28,503,527,220 26,488,620,000 491,663,000,000
ya bisa mencapai 5 tahun (maksimal)

ema Community Open Source
7 8 9 10
- - - -
300,000 300,000 300,000 300,000
- - - -
- - - -
- - - -
- - - -
- - - -
- - - - 1,444,536,169,327
Tahun
OPEX
% Vertical
7 Overhead
Beban Kepegawaian 1 12.00%
Beban Administrasi Umum 0.5 7.00%
Beban Pemasaran 0.1 10.00%
8 Beban BHP USO 1 1.75%
Grand total Opex Lainnya per Tahun 19.00%

0 1 2
Diketahui:
Total Revenue - 42,900,000,000 211,068,000,000 261,690,000,000
213,125,000 852,500,000 1,074,150,000

4,375,000,000 17,500,000,000 18,231,500,000
- - -
2,949,988,750 11,799,955,000 9,640,905,000
2,034,475,000 8,137,900,000 6,648,900,000
1,332,500,000 5,330,000,000 5,552,794,000
Sub Total
12.00% - 5,148,000,000 25,328,160,000 31,402,800,000

3.50% - 1,501,500,000 7,387,380,000 9,159,150,000
1.00% - 429,000,000 2,110,680,000 2,616,900,000
1.75% - 750,750,000 3,693,690,000 4,579,575,000
18,734,338,750 82,140,265,000 88,906,674,000

3 4 5 6 7
326,040,000,000 397,799,688,000 466,429,654,080 466,462,939,925 467,812,800,000
1,321,375,000 1,612,288,920 1,891,725,685 1,897,200,000 1,897,200,000

18,993,576,700 19,787,508,206 20,614,626,049 21,476,317,418 22,374,027,486
- - - - -
11,446,735,000 13,457,972,000 12,884,903,000 86,130,000 90,480,000
7,894,300,000 9,281,360,000 8,886,140,000 59,400,000 62,400,000
5,784,900,789 6,026,709,642 6,278,626,105 6,541,072,676 6,814,489,514
39,124,800,000 47,735,962,560 55,971,558,490 55,975,552,791 56,137,536,000

11,411,400,000 13,922,989,080 16,325,037,893 16,326,202,897 16,373,448,000
3,260,400,000 3,977,996,880 4,664,296,541 4,664,629,399 4,678,128,000
5,705,700,000 6,961,494,540 8,162,518,946 8,163,101,449 8,186,724,000
104,943,187,489 122,764,281,828 135,679,432,709 115,189,606,631 116,614,433,000

8 9 10
467,812,800,000 467,812,800,000 467,812,800,000
1,897,200,000 1,897,200,000 1,897,200,000

23,309,261,835 24,283,588,980 25,298,642,999
- - -
94,975,000 99,760,000 104,690,000
65,500,000 68,800,000 72,200,000
7,099,335,176 7,396,087,386 7,705,243,839
56,137,536,000 56,137,536,000 56,137,536,000 refer ke ref Resiko Overhead'!A1

8,186,724,000 8,186,724,000 8,186,724,000
117,842,108,011 119,121,272,366 120,453,812,838

Overhead'!A1
Overhead'!A1
Overhead'!A1
Tahun
OPEX
% Vertical
7 Overhead
Beban Kepegawaian 0.75 12.00%
Beban Pemasaran 0.1 10.00%

0 1 2 3
Diketahui:
Total Revenue - 42,900,000,000 211,068,000,000 261,690,000,000
852,500,000 1,074,150,000 1,321,375,000

0 - - -
0 - - -
11,799,955,000 9,640,905,000 11,446,735,000
0 - - -
5,330,000,000 5,552,794,000 5,784,900,789
Sub Total
9.00% - 3,861,000,000.00 18,996,120,000.00 23,552,100,000.00

6.00% - 2,574,000,000.00 12,664,080,000.00 15,701,400,000.00
1.00% - 429,000,000.00 2,110,680,000.00 2,616,900,000.00
1.75% - 750,750,000.00 3,693,690,000.00 4,579,575,000.00
25,597,205,000.00 53,732,419,000.00 65,002,985,789.20

4 5 6 7 8
326,040,000,000 397,799,688,000 466,429,654,080 466,462,939,925 467,812,800,000
1,612,288,920 1,891,725,685 1,897,200,000 1,897,200,000 1,897,200,000

- - - - -
- - - - -
13,457,972,000 12,884,903,000 86,130,000 90,480,000 94,975,000
- - - - -
6,026,709,642 6,278,626,105 6,541,072,676 6,814,489,514 7,099,335,176
29,343,600,000.00 35,801,971,920.00 41,978,668,867.20 41,981,664,593.23 42,103,152,000.00

19,562,400,000.00 23,867,981,280.00 27,985,779,244.80 27,987,776,395.49 28,068,768,000.00
3,260,400,000.00 3,977,996,880.00 4,664,296,540.80 4,664,629,399.25 4,678,128,000.00
5,705,700,000.00 6,961,494,540.00 8,162,518,946.40 8,163,101,448.68 8,186,724,000.00
78,969,070,562.19 91,664,699,410.43 91,315,666,275.63 91,599,341,350.96 92,128,282,176.00

9 10
467,812,800,000 467,812,800,000
1,897,200,000 1,897,200,000
- -
- -
99,760,000 104,690,000
- -
7,396,087,386 7,705,243,839
42,103,152,000.00 42,103,152,000.00 refer ke ref Resiko Overhead'!A1

8,186,724,000.00 8,186,724,000.00
92,429,819,386.36 92,743,905,839.11
Tahun
OPEX
% Vertical
7 Overhead
Beban Kepegawaian 0.25 12.00%
Beban Pemasaran 0 10.00%

0 1 2
Diketahui:
Total Revenue - 42,900,000,000 211,068,000,000 261,690,000,000
0 - - -
4,375,000,000 17,500,000,000 18,231,500,000
- - -
0 - - -
2,034,475,000 8,137,900,000 6,648,900,000
0 - - -
Sub Total
3.00% - 1,287,000,000 6,332,040,000 7,850,700,000

2.00% - 858,000,000 4,221,360,000 5,233,800,000
0.00% - - - -
0% - - - -
8,554,475,000 36,191,300,000 37,964,900,000

3 4 5 6 7
326,040,000,000 397,799,688,000 466,429,654,080 466,462,939,925 467,812,800,000
- - - - -
18,993,576,700 19,787,508,206 20,614,626,049 21,476,317,418 22,374,027,486
- - - - -
- - - - -
7,894,300,000 9,281,360,000 8,886,140,000 59,400,000 62,400,000
- - - - -
9,781,200,000 11,933,990,640 13,992,889,622 13,993,888,198 14,034,384,000

6,520,800,000 7,955,993,760 9,328,593,082 9,329,258,798 9,356,256,000
- - - - -
- - - - -
43,189,876,700 48,958,852,606 52,822,248,753 44,858,864,414 45,827,067,486

8 9 10
467,812,800,000 467,812,800,000 467,812,800,000
- - -
23,309,261,835 24,283,588,980 25,298,642,999
- - -
- - -
65,500,000 68,800,000 72,200,000
- - -

- - - refer ke ref Resiko Overhead'!A1
- - -
46,765,401,835 47,743,028,980 48,761,482,999

Overhead'!A1
Overhead'!A1
Overhead'!A1
Material Preventive & Corrective Feeder & Distribution
Qty untuk
Material Unit Price/Unit
2000 hp
ADSS G652D 24 core 2,000 meter 5,125
ADSS G652D 48 core 1,500 meter 11,300
ODP include Splitter 1:8 & cable hanger 30 unit 700,000
Dome Closure / JB 24 core 5 Unit 517,487
Splitter ODC modular 1:8 include pigtail 10 Unit 284,077
Pipa Galvanis 1/4" (3 meter) include steel band 3 ls 300,000
Aksesoris Dead end 1 set 22 ls 95,000
Aksesoris suspension 1 set 52 ls 65,000
2000
10,250,000
16,950,000
21,000,000
2,587,435
2,840,770
900,000
2,090,000
3,380,000
59,998,205
Kemampuan Serpo 2000 Homepass
Sub Total Per
No BOQ Qty Satuan Harga Satuan Masa Kontrak Total
Bulan
SDM Support
1 Personil asisten homebase 1 Orang 1,700,000 1,700,000 12 20,400,000
2 Tim Gangguan 2 Orang 4,100,000 8,200,000 13 106,600,000
Tools
1 Peralatan K3 untuk semua tim member (Helmet, Gloves, Vest 2 250,000 500,000 12 6,000,000
berlogo ICON+, Safety Belt) Unit
2 Crimping Tools 1 Unit 220,000 220,000 12 2,640,000
3 LAN Tester 1 Unit 15,000 15,000 12 180,000
4 Kunci berbagai Type & ukuran (Pas, Ring, sock) 1 Unit 245,000 245,000 12 2,940,000
5 Obeng berbagai Type & ukuran (minus & plus) 1 Unit 145,000 145,000 12 1,740,000
6 Laptop 1 Unit 200,000 200,000 12 2,400,000
7 Tangga teleskopik 10 m 1 Unit 400,000 400,000 12 4,800,000
8 GPS (Global Positioning System) (tingkat akurasi 1-2 mtr) 1 Unit 500,000 500,000 12 6,000,000
9 Optical Fiber Identifier (OFI) 1 Unit 700,000 700,000 12 8,400,000

10 Optical Power meter (OPM: RX) setara EXFO 1 Unit 250,000 250,000 12 3,000,000
Sarpen
1 Kendaraan roda 2 dengan box belakang (motor+BBM) 1 Unit 1,700,000 1,700,000 12 20,400,000
2 Basecamp + Listrik+Air+Gas 1 Ls 3,300,000 3,300,000 12 39,600,000
3 Modem + Biaya Koneksi Internet 1 Ls 150,000 150,000 12 1,800,000
4 Biaya Pulsa Komunikasi 1 Ls 200,000 200,000 12 2,400,000
4 Smart phone 5" 1 Unit 230,000 230,000 12 2,760,000
Total biaya serpo dalam 1 tahun 18,655,000 232,060,000
227,320,656
Parameter
Kapasitas Sambungan Pelanggan 512 Home Pass (HP)
Panjang Kabel ODN berdasarkan perhitungan On Desk
Per 16 Home Pass
Penarikan ODP =160m (jarak udara)
Penarikan Feeder = 26 m (jarak udara)
Total Jarak Udara untuk 2048 HP 5,952 meter

Kebutuhan Kabel ODN deviasi 20% 7,142 meter
Spare Kabel Feeder - meter
Total kebutuhan kabel ODN 7,142 meter
Harga Kabel 48c *Material SAP
Jasa penarikan FOC ODN meliputi jasa dan Accessories serta ODP+FDT
dipasang diawal OLT kapasitas 1024 (2 slot card)
Refrensi Harga OLT+BOX dari ZTE USD 15000 ditambah card tambahan USD 7000
Harga ONT penawaran ZTE @USD 50
Jasa PSB refrensi rekanan
Kurs Rp 14,500
NO ITEM QTY SATUAN

1 KABEL FOC 48C 7,142 meter
2 Jasa + Accessories ODN Lengkap 7,142 meter
3 OLT+BOX+PS 1 lot
Penarikan Sambung Baru (PSB)
4 Jasa + Accessories 307 Lot
5 Drop Cable @100m pre connector 307 roll
6 ONT 307 Unit
Total Biaya Home Connected

Biaya PSB
Harga per HC
Evidence Harga Drop Wire
ome Pass (HP)
tambah card tambahan USD 7000
DISKON
HARGA SATUAN TOTAL 10%
M
Rp 11,300 Rp 80,709,120 E 72,638,208
P
Rp 20,000 Rp 142,848,000 A 128,563,200
S
Rp 319,000,000 Rp 319,000,000 S 287,100,000
S
Rp 300,000 Rp 92,160,000 T 82,944,000
M
Rp 190,000 Rp 58,368,000 I 52,531,200
L
Rp 600,000 Rp 184,320,000 E 165,888,000
me Connected Rp 877,405,120 Rp 789,664,608

a PSB Rp 334,848,000
per HC Rp 1,713,682 Rp 1,542,314
Home Connected Homepass + Lastmile Diskon

10%
Rupiah Per Homepass Rp 1,059,682 953,714
Rupiah Per ONT 600,000
Jasa IKR + Drop Wire 490,000
953,714
No Deskripsi Satuan Qty
1 Homepass (ODN) 6400 HP Unit

A MATERIAL FOC
1 Material FOC ADSS Short Span 100m 24 Core Meter 104,000
2 Material FOC ADSS Short Span 100m 48 Core Meter 65,000
3 Material FOC ADSS Short Span 100m 96 Core Meter
B MATERIAL AKSESORIS FOC

Fitting Deadend, 6 - 48 core (Inc. Fitting
1 Deadend, Strain clamp, Stop Link, Steel Band, U 2,262
Labeling)
Fitting Suspension, 6-48 core (Inc. Stop Link,
2 U 2,262
Steel Band)
5 Splitter Distribusi 1:8 (inc. box ODP) U 1,040
FDT BOX 144 Core SC/UPC (include 6 pcs splitter

6 U 13
1:4 with bundle patchcord, labeling)
Patch Cord Single Mode (SC/UPC-FC, SC/UPC-

7 U 1,053
LC, SC/UPC-SC/UPC, LC-LC, FC-LC) 1 pasang 5m
ODF Rack Mounted 48 Core (tipe SC upc)

9 U 26
(Setara Litech / 3M)
10 Pipa Galvanis 1/4" (2 meter) BTG 65
11 Subduct HDPE outer Ø 50 mm, inner Ø 42 mm M 16,900
12 Tiang Besi 9 m (incl Jasa Pasang, Cat, Izin) BTG 65

C JASA FOC
1 Survey jalur kabel (incl. Spotting GPS untuk FOC) LOT 65
2 Penarikan FOC ADSS Short Span M 185,900

Galian Penarikan Jalur Tanah Taman (Inc.
3 Patok/Tanda, Perbaikan Tanaman/Aspal/Trotoar, M 8,450
Perapihan Lokasi)
Galian Penarikan Jalur Rojok Alur (Inc.

4 Patok/Tanda, Perbaikan Tanaman/Aspal/Trotoar, M 6,760
Perapihan Lokasi)
Galian Penarikan Jalur Boring (Inc. Patok/Tanda,

5 Perbaikan Tanaman/Aspal/Trotoar, Perapihan M 3,380
Lokasi)
6 Handhole 40x40x40 cm (Permanen) LOT 52
7 Jointing per core (incl. labeling Joint Box) AU 3,224
8 OTDR per core AU 1,664
10 Labeling Kabel (1 pole 2 label) U 4,433
11 Labeling In Site Plan (labeling patch cord, LOT 13

labeling perangkat POP dan User)
12 Instalasi Splitter GPON / ODP / box AU 1,053
AKOMODASI (Melampirkan dokumen
D pendukung)
1 Transportasi kabel dan material LOT 13
E Perizinan
1 Jasa Perizinan (Indoor Gedung, Ormas, PU, Dll) LOT 13
2 OLT + Cabinet (FOT 13 Lokasi) Unit 13

2.1 OLT Mini Min. 1 service slot, 16 Port
2.2 Cabinet Outdoor (Include Rectivier, Battrey

dan Instalaltion)
Nms System, Jasa Instalasi, Commissioning
2.3 dan Test
3 FOC (Backbone) (6500 Meter) m

A Service
1 Penarikan FOC ADSS Short Span M 65,000
2 Jointing per core (incl. labeling Joint Box) AU 312
3 OTDR per core AU 312
4 Labeling Joint Box U 26
5 Transportasi kabel dan material U 13
6 Labeling Kabel (1 pole 2 label) U 871
B Material
1 FOC,ADSS SS 100M,24F/4T,Biru,YOFI M 65,000
Fitting Deadend, 6 - 48 core (Inc. Fitting
2 Deadend, Strain clamp, Stop Link, Steel Band, U 871
Labeling)
Fitting Suspension, 6-48 core (Inc. Stop Link,
3 Steel Band) U 871
TOTAL
Harga Satuan Total
Rp 8,568,694,298
9,515 Rp 989,560,000
23,463 Rp 1,525,095,000
35,200 Rp -
94,089 Rp 212,828,187
65,262 Rp 147,622,418
1,317,982 Rp 1,370,700,760
9,900,000 Rp 128,700,000
155,588 Rp 163,834,585
7,150,000 Rp 185,900,000
97,926 Rp 6,365,216
19,863 Rp 335,679,630
2,410,294 Rp 156,669,084
904,329 Rp 58,781,375
3,358 Rp 624,203,427
73,049 Rp 617,265,148
80,408 Rp 543,558,070
117,380 Rp 396,744,061
3,388,228 Rp 176,187,850
38,747 Rp 124,921,058
34,827 Rp 57,951,417
9,570 Rp 42,423,810
9,570 Rp 124,410
546,186 Rp 575,133,332
9,880,420 Rp 128,445,460
`
- Rp -
Rp 8,568,694,298 Rp 1,338,858
226,820,100 Rp 2,948,661,300 Rp 443,008
Rp 1,781,866
1,514,587
Rp 1,016,278,445
3,300 Rp 214,500,000
45,000 Rp 14,040,000
43,500 Rp 13,572,000
10,000 Rp 260,000
9,880,420 Rp 128,445,460
10,000 Rp 8,710,000
8,650 Rp 562,250,000
85,535 Rp 74,500,985
59,329 `
Rp 1,016,278,445
Rp 12,533,634,043
Per HP untuk 6400 HP Rp 1,958,380
Perjanjian ICON+ dan EMR
Dokumen Kontrak Open Access ICON+ dan EMR halam
Visit Gangguan 100,000
Dismantle AP & STB 50,000
pen Access ICON+ dan EMR halaman 24
Diskon 25%
300,000
Biaya Operasional Dismantle IKR

Referensi dari Vendor Geogiven
REFERENSI TAKE UP & GROWTH MITRA
MITRA 1 2 3 4 5
MNC 10% 20% 30%
EMR 10% 15% 17%
Asumsi Jumlah Handle Operasional Command Center 10,000
Asumsi Taman Yasmin 2,000
Command Center
Komponen
I. BIAYA JASA
Gaji 2018 4,000,000
Total + PPh21 3,973,684
BPJS Ketenagakerjaan
JHT 5.7% 228,000
JKK 0.54% 21,600
JK 0.3% 12,000
JP 3% 120,000
BPJS Kesehatan 5% 200,000
Uang makan 264,000
THR 350,877
Seragam 50,000
DPLK 350,877
Uang Pulsa
Harga Per Orang 5,571,039
Management Fee 9% 501,393
a. Biaya Jasa 6,072,432
b. Jumlah Orang 3
Total Biaya Jasa per Bulan 18,217,296
II. BIAYA LANGSUNG

a. Biaya Langsung per 12 Bulan 43,721,511
Total Biaya Langsung per 12 Bulan 43,721,511
III. BIAYA ALAT KERJA

a. Alat kerja 600,000
b. Alat Kerja + Management fee 654,000
c. Total biaya alat kerja + Management Fee 1,962,000
IV. TOTAL BIAYA 12 BULAN
a. Biaya Jasa 218,607,555
b. Biaya Langsung 43,721,511
c. Biaya Alat Kerja 23,544,000
Total Biaya (belum termasuk PPN) 285,873,065
PPN 10% 28,587,307
Total Biaya ( termasuk PPN) 314,460,372
62,892,074
43200000
108,000,000 1,447,200
Pembangunan CRM 450,050,000
Asset Management
Billing
Help Desk
Ophar Asumsi Persen Ophar 5.00%
22,502,500.00
PT INDONESIA COMNETS PLUS
LAPORAN LABA RUGI
(dalam Juta Rupiah)
TAHUN 2015 REALISASI

Pencapaian Pertumbuhan
Analisa
URAIAN terhadap Vertikal terhadap
REALISASI ANALISA UN-AUDITED ANALISA AUDITED 2015 ANALISA RKAP 2015 KETERANGAN UNAUDITED AUDITED 2015 UNAUDITED
UNAUDITED VERTIKAL 2016 VERTIKAL VERTIKAL 2015 2016
Pendapatan Usaha 1,609,237 1,624,173 1,609,237 91% 100% 1% OVERHEAD 22% 22% 24%
Beban Usaha 1,272,065 79% 1,272,905 78% 1,272,065 79% 84% 78% 0% OM 9% 9% 8%
- Pemeliharaan 144,797 9% 135,303 8% 144,797 9% 69% 8% -7% TOTAL 31.33% 31.33% 32.67% 32%
- Kepegawaian 202,771 13% 202,149 12% 202,771 13% 100% 12% 0%
- Penyusutan Aktiva Tetap 257,911 16% 244,481 15% 257,911 16% 73% 15% -5%
- Lain-lain 666,587 41% 690,972 43% 666,587 41% 89% 43% 4%
Produksi Langsung 476,760 472,752 29% 476,760 30% 84% 29% -1%
Administrasi Umum 133,513 8% 171,330 11% 133,513 8% 116% 11% 28%
Pemasaran 23,111 1% 21,778 1% 23,111 1% 62% 1% -6%
Amortisasi 33,203 2% 25,113 2% 33,203 2% 73% 2% -24%
Laba/(Rugi) Usaha 337,172 351,268 337,172 126% 22% 4%
Pendapatan/(Beban) Lain-lain (51,815) (27,232) (57,532) 71% -2% -53%
- Pendapatan Lain-lain 7,172 22,275 16,970 124% 1% 31%
- Beban Pinjaman (52,578) (42,653) (52,578) 77% -3% -19%
- Pendapatan/(Beban) Bunga fair value 16 6 16 - 0% -66%
- Beban Lainnya (6,930) (6,710) (22,445) 1220% 0% -70%
- Beban Selisih Kurs 505 (149) 505 50% 0% -130%
L/R sebelum PPh Badan 285,357 324,036 279,639 135% 20% 16%
- Beban Pajak (77,424) (98,556) (77,424) 164% -6% 27%
L/R sebelum Hak Minoritas 207,932 225,480 202,215 125% 14% 12%
- Hak Minoritas - (6,452) - - 0% -
Laba/(Rugi) Bersih 207,932 219,027 202,215 121% 13% 8%
- - - -
PT INDONESIA COMNETS PLUS
LAPORAN RUGI LABA
2018
URAIAN (UN AUDITED)
Pendapatan Usaha 2,169,204

Beban Usaha 1,518,243
- Pemeliharaan 159,968
- Kepegawaian 267,323
- Penyusutan Aset Tetap 230,967
- Lain-lain 859,984
Produksi Langsung 652,970
Administrasi Umum 155,160
Pemasaran 28,120
Amortisasi 23,734
Laba Usaha 650,962
Pendapatan/(Beban) Lain-lain -21,207
Err:509 -21,043
- Beban Selisih Kurs -36
Laba sebelum Pajak Penghasilan 629,755
Err:509 -182,795
Laba Periode Berjalan 446,960
- Penghasilan Komprehensif Lain 22,439
Laba Komprehensif Periode Berjalan 469,399
-
(dalam Juta Rupiah)
2018
Analisa Vertikal 2017 Analisa Vertikal KETERANGAN (UN 2017
AUDITED)
100% 1,843,103 100% OVERHEAD 21% 22%

70% 1,385,060 75% OM 7% 8%
7% 155,353 8% TOTAL 28.15% 30.00%
12% 227,418 12%
11% 247,699 13%
40% 754,590 41%
30% 566,277 31%
7% 136,595 7%
1% 33,542 2%
1% 18,176 1%
30% 458,043 25%
-1% 2,765 0%
-1% -33,007 -2%
0% 20 0%
29% 460,808 25%
-8% -122,702 -7%
21% 338,105 18%
1% -13,667 -1%
22% 324,438 18%
- -
29.07%
DropDown1
ICON
INVESTOR

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Perubahan asumsi kapasitas Serpo dan Homebase Serpo Feeder

Tenor Financial Model 10

1. Pembangunan menggunakan skema Aerial

Tahun, untuk umur sewa layanan

source: Resiko & Overhead sheet

Data Keuangan (Corp. Finance)

B. Harga Satuan Biaya Investasi

C. Asumsi Penanganan Gangguan Feeder

D. Biaya Operasional Gangguan IKR Ke Vendor

E. Biaya SDM Pengawas Per SBU

F. Harga Jual Layanan

G. Asumsi Parameter Keuangan

Valuasi RoW 10%

Maximum Growth 60%

I. ADOPTION PLAN PEMBANGUNAN B2C

Home Connected (Accum)

H. ADOPTION PLAN MARKET B2B

Jumlah Potensi B2B (Non Akumulasi)

Take Up (Akumulasi) % Take Up

Take Up (Non Akumulasi)

Referensi sheet : Ref BOQ_TOR_Detail_Update

REF RAB Serpo'!A1

Sheet 'Ref Biaya Visit Gangguan IKR'!A1

Sheet 'RAB Serpo Revisi'!A1

22% 28% 34% 42%

110,000 137,500 170,500 209,715

- 2,750 - 3,410 - 4,194

10% X Home Connected

Impact NPV Impact IRR

Parameter yang diuji sensitivity : Harga per subscriber per bulan

Impact NPV Impact IRR

3,908 3,908 3,908 3,908

IRR : 3.73% per bulan

TOTAL CAPEX (10 TAHUN) 1,445,086,169,327

51% 60% 60% 60%

255,852 300,000 300,000 300,000

3,908 3,908 3,908 3,908

IRR : 1.28% per bulan

TOTAL CAPEX (10 TAHUN) 1,444,536,169,327

60% 60% 60%

300,000 300,000 300,000

3,908 3,908 3,908

Angka dalam Satuan

COST OF EQUITY (Cost of fund, COF) /THN

EBIT di luar Depresiasi/Amortisasi (EBITDA)

BEBAN DI LUAR USAHA ( interest I )

LABA / RUGI BERSIH STL PPH ( Net Income )

### ALIRAN KAS ( pada tahun ke.. )

ICON+ Confidential 11/06/2019 Page 23

113,207 304,214 355,013 410,903

ICON+ Confidential 11/06/2019 Page 24

ALIRAN KAS BERSIH

267,218 280,133 259,643 261,068 262,296 263,575 264,907

473,055 531,820 530,122 534,527 538,005 541,664 545,515

NPV IRR THN NPV IRR

ICON+ Confidential 11/06/2019 Page 25

436,431 438,484 441,105 443,862 446,764

THN NPV IRR

ICON+ Confidential 11/06/2019 Page 26

ICON+ Confidential 11/06/2019 Page 27

ICON+ Confidential 11/06/2019 Page 28

455,708 -10.71% 7 1,247,636 40.75%