ANALYSIS BENEFIT TO COST RATIO

KERJA SAMA PENGELOLAAN ICT TELKOM - MENARA SATRIO

LOKASI : JL. Dr. Satrio Jakarta Selatan
C.TEL. /YN000/DES-N2010000/2014

Nama / NIK Jabatan Tanggal Tanda Tangan

Dibuat Oleh EDI FAIZAL / 622157 Account Manager 1…………….. …….

Diperiksa Oleh HERMAN TRIADI / 642155 Manager Sales PCS 2……………………

Diperiksa Oleh IBRAHIM / 730241 Manager Channel Management 3…………….. …….

Diperiksa Oleh ISKANDAR / 612546 GM ESS PCS 4……………………

Disetujui Oleh PAULUS FUDY EDDI JANTO / 623066 SM Marketing 5……………………

Resume :
Revenue Tahun 1 7,401,312,000 1
jangka Waktu Kerja Sama 5 Tahun
Target Revenue Posisi Tahun 5 24,177,619,200 rupiah
Target Scalling Dalam 5 tahun 16,776,307,200 rupiah
Growth 15% Selama 5 tahun
Benefits to Cost Ration 1.0942 Feasible
Rekomendasi Layak Implementasi
Pay Back Periode 1 Tahun 11 Bulan
Catatan :
 Simulasi Prospek Revenue
12
Tahun 1 Tahun 2 Tahun 3 Tahun 4 Tahun 5
PRODUK FULL CAPACITY ALPRO HARGA SATUAN OCCUPANCY OCCUPANCY OCCUPANCY OCCUPANCY OCCUPANCY
30% 50% 60% 70% 98%
Pots 2,480 250,000 2,232,000,000 3,720,000,000 4,464,000,000 5,208,000,000 7,291,200,000
Speedy 992 295,000 1,053,504,000 1,755,840,000 2,107,008,000 2,458,176,000 3,441,446,400
IPTV 99 275,000 98,208,000 163,680,000 196,416,000 229,152,000 320,812,800
Datin 744 1,500,000 4,017,600,000 6,696,000,000 8,035,200,000 9,374,400,000 13,124,160,000
7,401,312,000 12,335,520,000 14,802,624,000 17,269,728,000 24,177,619,200
66.7% 20.0% 16.7% 40.0%

Tahun 1 Tahun 2 Tahun 3 Tahun 4 Tahun 5

PRODUK
% Marketing Fee % Marketing Fee % Marketing Fee % Marketing Fee % Marketing Fee
Pots 3% 66,960,000 4% 148,800,000 5% 223,200,000 6% 312,480,000 7% 510,384,000
Speedy 3% 31,605,120 4% 70,233,600 5% 105,350,400 6% 147,490,560 7% 240,901,248
IPTV 4% 3,928,320 5% 8,184,000 6% 11,784,960 7% 16,040,640 8% 25,665,024
Datin 4% 160,704,000 5% 334,800,000 6% 482,112,000 7% 656,208,000 8% 1,049,932,800
263,197,440 562,017,600 822,447,360 1,132,219,200 1,826,883,072

21,933,120 46,834,800 68,537,280 94,351,600 152,240,256

cara hitung pots

lantai x teant per lantai x line

cara hitung Datin

lantai x bandwith x tenant x %
 Asumsi
0%
Kurs Dolar 10% Pendapatan Gross
- Rp/USD 9,200 20% Pertumbuhan pendapatan 1.0%
30% Pendapatan PSB
Biaya Total Pendapatan / bln Rp.
- Depresiasi 5 straight-line Total Abonemen / thn Rp.
- Biaya Karyawan 7% x Revenue
- Biaya Umum dan Administrasi (BUA) 3% x Revenue asumsi nilai investasi perangkat telkom setelah mengalami depresiasi

Investasi GPON Rp. 10,000,000,000

- Biaya O&M 10% x Revenue
- Biaya Pemasaran 5% x Revenue - Total Investasi Rp. 10,000,000,000
- Marketing Fee 0% x Revenue Gross

Asumsi Finansial Lainnya IRR : 46.78%

- Debt 0% NPV : 11,314,682,558
- Equity 100% Payback : 1 Tahun, 11 Bulan
- Loan Repayment Periode 5 Rekomendasi : Layak Implementasi
- Interest (WACC) 17.8%
- PPN (utk Goods+Services) 10% 41,557,000
- Tax (PPh) 27%
- Terminal Value EBITDA th ke 5 CC

Biaya Investasi (Referensi)

- Lain-lain 5% x Total Investasi Perangkat
- Services (Instalasi, Training, Integrasi,
Commisioning) 10% x (Total Investasi Perangkat+Lain-lain)

Occupancy

Tahun 1 60%
Tahun 2 90%
Tahun 3 95%
Tahun 4 97%
Tahun 5 98%
 Proyeksi Biaya Investasi
Investasi Tahun-0 Tahun-1 Tahun-2 Tahun-3 Tahun-4 Tahun-5

Investasi GPON 10,000,000,000

Total Investasi 10,000,000,000
Lain-lain ( Test Eq.,Spare 500,000,000 - - - - -
SARPEN)
Service Cost (Instalasi, Training,
Integrasi, Commisioning) 1,050,000,000 - - - - -
Total (A+B+C) 11,550,000,000 - - - - -
PPN (10% x F) 1,155,000,000 - - - - -
Grand Total 12,705,000,000 - - - - -
Total Investasi Kumulatif 12,705,000,000 12,705,000,000 12,705,000,000 12,705,000,000 12,705,000,000 12,705,000,000

Grand Total Investasi 12,705,000,000 - - - - -

Grand Total Investasi Kum. 12,705,000,000 12,705,000,000 12,705,000,000 12,705,000,000 12,705,000,000 12,705,000,000

Depresiasi
Tahun-0 Tahun-1 Tahun-2 Tahun-3 Tahun-4 Tahun-5
Depresiasi Tahun-1 2,541,000,000 - - - -
Depresiasi Tahun-2 2,541,000,000 - - -
Depresiasi Tahun-3 2,541,000,000 - -
Depresiasi Tahun-4 2,541,000,000 -
Depresiasi Tahun-5
Depresiasi Tahun-6
Depresiasi Tahun-7
Total Depresiasi JKT - 2,541,000,000 2,541,000,000 2,541,000,000 2,541,000,000 -

Grand Total Depresiasi - 2,541,000,000 2,541,000,000 2,541,000,000 2,541,000,000 -

Akumulatif - 2,541,000,000 5,082,000,000 7,623,000,000 10,164,000,000 10,164,000,000
Salvage value 10,164,000,000
 Proyeksi Revenue
No ITEM Tahun-0 Tahun-1 Tahun-2 Tahun-3 Tahun-4 Tahun-5

Total Pendapatan (Netto) - 7,401,312,000 12,335,520,000 14,802,624,000 17,269,728,000 24,177,619,200

Proyeksi Biaya Operasi

No ITEM Tahun-0 Tahun-1 Tahun-2 Tahun-3 Tahun-4 Tahun-5

1 Depresiasi - 2,541,000,000 2,541,000,000 2,541,000,000 2,541,000,000 -

2 Biaya Karyawan - 518,091,840 863,486,400 1,036,183,680 1,208,880,960 1,692,433,344
3 Biaya Umum dan Adm. - 222,039,360 370,065,600 444,078,720 518,091,840 725,328,576
4 Biaya O&M - 740,131,200 1,233,552,000 1,480,262,400 1,726,972,800 2,417,761,920
5 Biaya Pemasaran - 370,065,600 616,776,000 740,131,200 863,486,400 1,208,880,960
6 Marketing Fee - 263,197,440 562,017,600 822,447,360 1,132,219,200 1,826,883,072

Total - 4,654,525,440 6,186,897,600 7,064,103,360 7,990,651,200 7,871,287,872

Proyeksi Profit/Loss
No ITEM Tahun-0 Tahun-1 Tahun-2 Tahun-3 Tahun-4 Tahun-5

Laba TELKOM - 2,746,786,560 6,148,622,400 7,738,520,640 9,279,076,800 16,306,331,328

Jumlah - 2,746,786,560 6,148,622,400 7,738,520,640 9,279,076,800 16,306,331,328

 Valuation
PROFIT & LOSS Tahun-0 Tahun-1 Tahun-2 Tahun-3 Tahun-4 Tahun-5
Revenue - 7,401,312,000 12,335,520,000 14,802,624,000 17,269,728,000 24,177,619,200
Expense (w/o depreciation) - 2,113,525,440 3,645,897,600 4,523,103,360 5,449,651,200 7,871,287,872
EBITDA - 5,287,786,560 8,689,622,400 10,279,520,640 11,820,076,800 16,306,331,328
Depreciation - 2,541,000,000 2,541,000,000 2,541,000,000 2,541,000,000 -
EBIT - 2,746,786,560 6,148,622,400 7,738,520,640 9,279,076,800 16,306,331,328
Interest loan + interest #2 - - - - - -
EBT - 2,746,786,560 6,148,622,400 7,738,520,640 9,279,076,800 16,306,331,328
Tax - 741,632,371 1,660,128,048 2,089,400,573 2,505,350,736 4,402,709,459
Net Income - 2,005,154,189 4,488,494,352 5,649,120,067 6,773,726,064 11,903,621,869

CASHFLOW Tahun-0 Tahun-1 Tahun-2 Tahun-3 Tahun-4 Tahun-5

Cashflow from Opr. Activities :
Revenue - 7,401,312,000 12,335,520,000 14,802,624,000 17,269,728,000 24,177,619,200
Expense (w/o depreciation) - 2,113,525,440 3,645,897,600 4,523,103,360 5,449,651,200 7,871,287,872
EBITDA - 5,287,786,560 8,689,622,400 10,279,520,640 11,820,076,800 16,306,331,328

Cash flow from investing activities :

Equity injection 12,705,000,000 - - - - -
Loan - - - - - -
Source Of Cash 12,705,000,000 5,287,786,560 8,689,622,400 10,279,520,640 11,820,076,800 16,306,331,328
cumulative loan - - - - - -
Cashflow from Investing Activities :
Investment 12,705,000,000 - - - - -
Repayment
Loan 1 - - - - -
Loan 2 - - - -
Loan 3 - - -
Loan 4 - -
Loan 5 -
Total repayment loan - - - - - -
cumulatif repayment - - - - - -
Repayment additional debt # 2 - - - - - -
Remaining Loan - - - - - -
interest - - - - - -
interest additional debt # 2 - - - - - -
taxes - 741,632,371 1,660,128,048 2,089,400,573 2,505,350,736 4,402,709,459
Total disbursement 12,705,000,000 741,632,371 1,660,128,048 2,089,400,573 2,505,350,736 4,402,709,459

Cash Balance - 4,546,154,189 7,029,494,352 8,190,120,067 9,314,726,064 11,903,621,869

Minimum Cash - - - - - -
Excess Cash - 4,546,154,189 7,029,494,352 8,190,120,067 9,314,726,064 11,903,621,869

Additional Working Capital : - - - - - -

Add. Equity - - - - - -
Add. Debt # 2 (short term) - - - - - -
Repayment debt # 2 - - - - -
additional Interest debt # 2 - - - - -

NPV, IRR, Payback Periode Tahun-0 Tahun-1 Tahun-2 Tahun-3 Tahun-4 Tahun-5
CASH IN FLOW :
EBITDA - 5,287,786,560 8,689,622,400 10,279,520,640 11,820,076,800 16,306,331,328
DEPRECIATION - 2,541,000,000 2,541,000,000 2,541,000,000 2,541,000,000 -
EBIT - 2,746,786,560 6,148,622,400 7,738,520,640 9,279,076,800 16,306,331,328
Taxes - 741,632,371 1,660,128,048 2,089,400,573 2,505,350,736 4,402,709,459
Operating Cash Flow - 2,005,154,189 4,488,494,352 5,649,120,067 6,773,726,064 11,903,621,869
add back depreciation - 2,541,000,000 2,541,000,000 2,541,000,000 2,541,000,000 -
Total Cash in Flow - 4,546,154,189 7,029,494,352 8,190,120,067 9,314,726,064 11,903,621,869

CASH OUT FLOW :

Investment 12,705,000,000 - - - - -

NET CASH FLOW (12,705,000,000) 4,546,154,189 7,029,494,352 8,190,120,067 9,314,726,064 11,903,621,869

cumulative NET CASH FLOW (12,705,000,000) (8,158,845,811) (1,129,351,459) 7,060,768,608 16,375,494,672 28,279,116,541
Disc. Factor 1 0.8489 0.7206 0.6117 0.5193 0.4408
Present Value (PV) (12,705,000,000) 3,859,214,082 5,065,630,469 5,010,192,324 4,837,142,988 5,247,502,696
Benefit Cost Ratio (BCR) 0.30 0.70 1.10 1.48 1.89

IRR6 47% Feasible

NPV6 11,314,682,558 Feasible 5.47 1
PAYBACK PERIODE 1 years 2.73557488899939
11 months
Rekomendasi Layak Implementasi