Weekly Papaer Essay

2270 words - 10 pages

Primus Automation Division

Disusun Oleh :
Roy Sutanto 3122103
Andrena Novita Santoso 3122137

SEMESTER GENAP 2014 / 2015

Statement of Authorship
“Saya/kami yang bertandatangan dibawah ini menyatakan bahwa makalah/tugas terlampir adalah murni hasil pekerjaan saya/kami sendiri. Tidak ada pekerjaan orang lain yang saya/kami gunakan tanpa menyebutkan sumbernya.
Materi ini tidak/belum pernah disajikan/digunakan sebagai bahan untuk makalah/tugas pada mata ajaran lain kecuali saya/kami menyatakan dengan jelas bahwa saya/kami menyatakan dengan jelas menggunakannya.
Saya/kami memahami bahwa ...view middle of the document...

Tujuan Primus Otomasi adalah untuk mempertahankan kepemimpinan di pangsa pasar, meningkatkan penjualan sebesar 15 persen per tahun, dan mencapai target untuk laba bersih dan perputaran modal kerja. Tujuan tersebut diwujudkan dengan memberikan layanan pelanggan yang paling responsif, mencapai posisi pangsa pasar yang kuat di segmen volume tumbuh tinggi, dan menawarkan produk - teknologi terkemuka yang berbasis pada standar industri.
Masalah dari analisis dan menetapkan jangka waktu relatif baru untuk Baumann, ketika Avantjet memberi informasi kepada Baumann dan Feldman bahwa pembelian tertunda dari sistem otomatisasi pabrik telah ditunda tanpa batas waktu. CEO Avantjet hanya memesan moratorium capital expenditure negatif yang dapat mempengaruhi laporan laba rugi dan neraca Avanjet. Wall Street Journal telah mengumumkan penurunan harga saham dan memburuknya neraca Avantjet sebagai contoh memburuknya kondisi manufaktur selama resesi ekonomi.
Apabila Avantjet ingin membeli sistem tersebut (tidak dengan lease) maka Primus menawarkan dengan harga $ 715,000, sedangkan kompetitornya Faulhaber menawarkan dengan harga $ 759,000 (dengan nilai residu sebesar 15%) dan Honshu menawarkan dengan harga $ 737,000 (dengan nilai residu sebesar 24%).


1. Opsi dan skenario leasing yang mana yang paling sesuai dengan Avantjet?
2. Bagaimana hasil perbandingan opsi yang ditawarkan Primus dengan opsi yang ditawarkan oleh Faulhaber dan Honshu?


1. Berikut adalah perbandingan antara skenario loan dengan skenario leasing dari opsi 1-4 dengan kondisi A-D. Asumsi yang dipakai adalah:
a. NPV menunjukkan mahal atau tidaknya opsi tersebut. Jadi semakin kecil NPV, semakin murah biaya yang dikeluarkan.
b. IRR menunjukkan effective cost dari lease financing. Jika nilainya lebih kecil dari Kd after tax, maka opsi itu yang paling menarik di antara opsi lain.
Loan Option | A | B | C | D |
NPV of loan (“borrow-and-buy”) | $469,273 | $484,546 | $663,800 | $671,253 |
IRR of loan (“borrow-and-buy”) | 6.27% | 8.58% | 9.50% | 13.00% |
Leasing option #1 | $ 155,040 | $ 155,040 | $ 155,040 | $ 155,040 |
NPV of leasing option #1 | $ 454,717 | $ 436,915 | $ 651,863 | $ 616,202 |
IRR of lease | 5.32% | 5.32% | 8.61% | 8.61% |
Lease advantage over borrowing | $ 14,556 | $ 47,631 | $ 11,937 | $ 55,051 |

Loan Option | A | B | C | D |
NPV of loan (“borrow-and-buy”) | $469,273 | $484,546 | $663,800 | $671,253 |
IRR of loan (“borrow-and-buy”) | 6.27% | 8.58% | 9.50% | 13.00% |
Leasing option #2 | $ 160,003 | $ 160,003 | $ 160,003 | $ 160,003 |
NPV of leasing option #2 | $ 469,273 | $ 450,901 | $ 672,730 | $ 635,927 |
IRR of lease | 6.27% | 6.27% | 10.17% | 10.17% |
Lease advantage over borrowing | $ 0 | $ 33,645 | $ (8,930) | $ 35,326 |

Loan Option | A | B | C | D |
NPV of loan (“borrow-and-buy”) | $469,273 | $484,546 | $663,800 | $671,253...

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