Yang Buat Babnya

BAB XINVESTASI DAN ANALISIS KELAYAKAN10.1. InvestasiUntuk memproduksi batubara yang siap dipasarkan sejumlah 8.040.762 ton yang akan dilakukan PT. Abel Kayla , jumlah investasi yang diperlukan sebesar Rp100.712.450.653 terdiri dari :10.1.1. Modal Tetap dan Modal KerjaModal tetap selama 14 tahun yang akan ditanamkan PT. Abel Kayla secara lebih rinci seperti dalam tabel 10.1, sedangkan modal kerja pada tahun I pada table 10.2 (Untuk Lampiran pada tahun 2-14 pada Lampiran A).Tabel 10.1.Modal TetapUraian Jumlah Biaya (Rp) Biaya Total (Rupiah)

Biaya eksplorasi -Rp750.000.000,00Rp750.000.000,00

Biaya studi kelayakan dan UKL / UPL -Rp500.000.000,00Rp500.000.000,00

Biaya pembebasan lahan, dll -Rp500.000.000,00Rp500.000.000,00

Jenis Kegiatan Jumlah Biaya/unitBiaya total

(Rupiah)(Rupiah)

1. Bangunan

- Kantor 1Rp750.000.000,00Rp750.000.000,00

- Mess 1Rp500.000.000,00Rp500.000.000,00

- Unit pengolahan 1Rp250.000.000,00Rp250.000.000,00

- Poliklinik 1Rp150.000.000,00Rp150.000.000,00

- Mushola 1Rp250.000.000,00Rp250.000.000,00

- Bengkel 1Rp100.000.000,00Rp100.000.000,00

- Gudang 1Rp75.000.000,00Rp75.000.000,00

- Pos Keamanan 4Rp75.000.000,00Rp300.000.000,00

- Kantin 2Rp75.000.000,00Rp150.000.000,00

2. Infrastruktur

- Jalan Tambang 9Rp250.000.000,00Rp2.250.000.000,00

- Instalasi Jaringan Listrik Rp100.000.000,00Rp100.000.000,00

- Instalasi Jaringan Telepon Rp50.000.000,00Rp50.000.000,00

3. Peralatan

- Peralatan tambang --

- Peralatan Inventaris Rp300.000.000,00Rp300.000.000,00

- Peralatan bengkel Rp100.000.000,00Rp100.000.000,00

- Peralatan K3 Rp100.000.000,00Rp100.000.000,00

- Peralatan Pendukung operasional Rp100.000.000,00Rp100.000.000,00

Modal Tetap Rp 7.275.000.000,00

Tabel 10.2.Modal Kerja Tahun IModal Kerja Tahun I

UraianBiaya

Biaya Langsung

- Gaji KaryawanRp7.956.000.000,00

- Pemakaian Bahan BakarRp62.959.680.000,00

- Pemakaian Minyak PelumasRp1.805.932.800,00

- Sewa AlatRp10.155.216.000,00

Sub JumlahRp82.876.828.800,00

Biaya Tidak Langsung

- Perawatan Konstruksi Tambang (10% biaya kontruksi)Rp492.500.000,00

- Asuransi Tenaga Kerja (5% gaji pegawai)Rp397.800.000,00

- Perawatan Settling Pond (5% biaya konstruksi)Rp20.000.000,00

- Perawatan Crushing Plant (5% biaya konstruksi)Rp90.000.000,00

- Biaya Kantor (overhead)Rp50.000.000,00

- CSR (0,1% dari penjualan)Rp450.443.250,00

Sub JumlahRp1.500.743.250,00

Jumlah Modal KerjaRp84.377.572.050,00

Biaya Tidak Terduga (5%)Rp4.218.878.602,50

JumlahRp88.596.450.652,50

10.1.2. Sumber DanaInvestasi yang akan ditanamkan dalam usaha penambangan batubara di wilayah Izin Usaha Penambangan PT. Abel Kayla sebesar Rp100.712.450.652,50. Direncanakan PT. Abel Kayla untuk investasi menggunakan modal pribadi.Tabel 10.3. Sumber DanaNo.UraianBiaya (Rp)

1Modal PribadiRp100.712.450.652,50

Jumlah Total InvestasiRp100.712.450.652,50

10.2. Analisa KelayakanAnalisa Kelayakan dimaksudkan untuk mengetahui layak atau tidak usaha penambangan yang akan dilakukan PT. Abel Kayla yang terletak di Desa Suweto, Kecamatan Muara Samu, Kabupaten Paser Provinsi Kalimantan Timur.

10.2.1. Rencana Biaya ProduksiUntuk memproduksi batubara siap jual sebesar 8.040.762 ton. diperlukan biaya produksi awal sebesar Rp7.638.750.000,00 yang terdiri atas :Tabel 10.4.Biaya Produksi AwalModal Kerja Tahun 0

UraianBiaya

Biaya Pra Tambang/PersiapanRp7.275.000.000,00

Biaya Tidak Terduga (5%)Rp363.750.000,00

JumlahRp7.638.750.000,00

Biaya Pra PenambanganMeliputi biaya-biaya pengurusan perijinan, biaya eksplorasi, studi kelayakan dan UKL/UPL serta pembebasan lahan sebesar Rp1.750.000.000,00 dengan perkiraan amortisasi sebesar 20% adalah 20% x Rp1.750.000.000,00 = Rp350.000.000,00Tabel 10.5. AmortisasiTabel Biaya Pra Penambangan (Amortisasi)

No. Uraian Biaya (Rp)

1 Biaya eksplorasi Rp750.000.000,00

2 Biaya studi kelayakan dan UKL / UPL Rp500.000.000,00

3 Biaya pembebasan lahanRp500.000.000,00

Jumlah Rp1.750.000.000,00

Biaya Penyusutan 20% Rp350.000.000,00

Biaya DepresiasiMeliputi biaya-biaya pembangunan kantor, infrastruktur dan peralatan serta pembelian alat mengalami depresiasi 5% perrtahunnya (Tabel 10.6.)Tabel 10.6Biaya Depresiasi PertahunnyaNo.UraianBiaya (Rp)5%

1Pembangunan kantor, infrastruktur dan peralatanRp5.525.000.000,00

Rp276.250.000,00

2Pembelian AlatRp4.841.000.000,00

Rp242.050.000,00

Jumlah Depresiasi PertahunRp518.300.000,00

10.2.2. Pendapatan PenjualanPerolehan penjualan batubara suatu waktu dapat mengalami perubahan sesuai dengan target produksi pertahunnya. Pada PT. Abel Kayla menjual batubara dengan kalori 6000-6500 kkal dengan harga per ton Rp750.000,00. Dari tahun ke-1 sampai tahun ke-14 diperoleh nilai penjualan dari batubara 8.040.762 ton sebesar Rp 6.030.571.500.000,00. (Untuk hasil penjualan batubara per tahunnya terdapat pada lampiran B) 10.2.3. Aliran Uang Tunai (Cash Flow)Dari tabel perhitungan aliran uang tunai (cash flow) diperoleh hasil yang cukup baik sehingga dari hasil biaya yang diperoleh setiap tahun dapat dipergunakan dan cukup untuk tahun berikutnya. Dari hasil produksi dan penjualan tahun I tersebut diperoleh hasil keuntungan bersih sebesar Rp351.913.526.877,01 (Lihat tabel 10.7).

47

Tabel 10.7. Cash FlowNoUraianTahun

01234567891011121314

1Investasi (modal pribadi)Rp100.712.450.652,50

2Produksi Batubara - Rp600.591,00Rp600.126,00Rp600.147,00Rp600.379,00Rp600.351,00Rp600.071,00Rp600.490,00Rp600.571,00Rp600.951,00Rp600.825,00Rp600.094,00Rp600.382,00Rp600.273,00Rp235.511,00

3Harga Penjualan (Rp/ton) - Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00

4Hasil Penjualan Batubara (Rp) (Benefit) - Rp450.443.250.000,00Rp450.094.500.000,00Rp450.110.250.000,00Rp450.284.250.000,00Rp450.263.250.000,00Rp450.053.250.000,00Rp450.367.500.000,00Rp450.428.250.000,00Rp450.713.250.000,00Rp450.618.750.000,00Rp450.070.500.000,00Rp450.286.500.000,00Rp450.204.750.000,00Rp176.633.250.000,00

5Pengeluaran

a.Biaya OperasiRp7.638.750.000,00Rp88.596.450.652,50Rp88.596.084.465,00Rp89.195.420.002,50Rp89.195.602.702,50Rp89.195.580.652,50Rp89.195.360.152,50Rp89.195.690.115,00Rp89.195.753.902,50Rp89.196.053.152,50Rp89.195.953.927,50Rp89.195.378.265,00Rp89.195.605.065,00Rp89.195.519.227,50Rp65.049.193.913,19

c. Amortisasi - Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00

d.Depresiasi Rp518.300.000,00Rp518.300.000,00Rp518.300.000,00Rp518.300.000,00Rp518.300.000,00Rp518.300.000,00Rp518.300.000,00Rp518.300.000,00Rp518.300.000,00Rp518.300.000,00Rp518.300.000,00Rp518.300.000,00Rp518.300.000,00Rp518.300.000,00

e.DeplesiRp56.019.970,50Rp55.976.597,74Rp55.978.556,51Rp56.000.196,25Rp55.997.584,56Rp55.971.467,63Rp56.010.549,75Rp56.018.105,00Rp56.053.549,40Rp56.041.796,78Rp55.973.612,95Rp56.000.476,07Rp55.990.309,13Rp21.967.227,73

f. IuranRp17.500,00Rp87.500,00Rp100.000,00Rp42.150,00Rp34.650,00Rp38.800,00Rp35.000,00Rp40.750,00Rp47.000,00Rp48.900,00Rp61.800,00Rp61.250,00Rp57.050,00Rp55.200,00Rp37.600,00

g. RoyaltiRp9.008.865.000,00Rp9.001.890.000,00Rp9.002.205.000,00Rp9.005.685.000,00Rp9.005.265.000,00Rp9.001.065.000,00Rp9.007.350.000,00Rp9.008.565.000,00Rp9.014.265.000,00Rp9.012.375.000,00Rp9.001.410.000,00Rp9.005.730.000,00Rp9.004.095.000,00Rp3.532.665.000,00

Total CostRp108.351.218.152,50Rp98.529.723.123,00Rp98.522.351.062,74Rp99.121.945.709,01Rp99.125.622.548,75Rp99.125.182.037,06Rp99.120.731.620,13Rp99.127.391.414,75Rp99.128.684.007,50Rp99.134.720.601,90Rp99.132.732.524,28Rp99.121.123.127,95Rp99.125.692.591,07Rp99.123.959.736,63Rp69.472.163.740,92

6DF jika DR 18%1,00000,84750,71820,60860,51580,43710,37040,31390,26600,22550,19110,16190,13720,11630,0985

7Net Benefit-Rp108.351.218.152,50Rp351.913.526.877,01Rp351.572.148.937,26Rp350.988.304.290,99Rp351.158.627.451,25Rp351.138.067.962,94Rp350.932.518.379,87Rp351.240.108.585,25Rp351.299.565.992,50Rp351.578.529.398,10Rp351.486.017.475,72Rp350.949.376.872,05Rp351.160.807.408,93Rp351.080.790.263,37Rp107.161.086.259,08

Tabel 10.8.NVPNoUraianTahun

01234567891011121314


2Produksi Batubara - Rp600.591,00Rp600.126,00Rp600.147,00Rp600.379,00Rp600.351,00Rp600.071,00Rp600.490,00Rp600.571,00Rp600.951,00Rp600.825,00Rp600.094,00Rp600.382,00Rp600.273,00Rp235.511,00

3Harga Penjualan (Rp/ton) - Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00

4Hasil Penjualan Batubara (Rp) (Benefit) - Rp450.443.250.000,00Rp450.094.500.000,00Rp450.110.250.000,00Rp450.284.250.000,00Rp450.263.250.000,00Rp450.053.250.000,00Rp450.367.500.000,00Rp450.428.250.000,00Rp450.713.250.000,00Rp450.618.750.000,00Rp450.070.500.000,00Rp450.286.500.000,00Rp450.204.750.000,00Rp176.633.250.000,00

5Pengeluaran


c. Amortisasi - Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00






6DF jika DR 18%1,00000,84750,71820,60860,51580,43710,37040,31390,26600,22550,19110,16190,13720,11630,0985


8PV-Rp108.351.218.152,50Rp298.231.802.438,14Rp252.493.643.304,55Rp213.622.317.940,85Rp181.123.713.452,98Rp153.485.685.675,96Rp129.996.472.931,19Rp110.263.062.749,50Rp93.459.091.455,97Rp79.265.513.871,31Rp67.156.488.556,58Rp56.825.386.106,54Rp48.186.119.267,84Rp40.826.389.282,30Rp10.560.610.010,29

NVP Rp837.120.258.984,02

10.2.5. Internal Rate Return (IRR)Tabel 10.9IRRNoUraianTahun

01234567891011121314


2Produksi BatubaraRp600.591,00Rp600.126,00Rp600.147,00Rp600.379,00Rp600.351,00Rp600.071,00Rp600.490,00Rp600.571,00Rp600.951,00Rp600.825,00Rp600.094,00Rp600.382,00Rp600.273,00Rp235.511,00

3Harga Penjualan (Rp/ton) Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00Rp750.000,00

4Hasil Penjualan Batubara (Rp) (Benefit)Rp450.443.250.000,00Rp450.094.500.000,00Rp450.110.250.000,00Rp450.284.250.000,00Rp450.263.250.000,00Rp450.053.250.000,00Rp450.367.500.000,00Rp450.428.250.000,00Rp450.713.250.000,00Rp450.618.750.000,00Rp450.070.500.000,00Rp450.286.500.000,00Rp450.204.750.000,00Rp176.633.250.000,00

5Total Cost


c. AmortisasiRp0,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00Rp350.000.000,00






6DF jika DR 18%1,00000,52320,27380,14330,07500,03920,02050,01070,00560,00290,00150,00080,00040,00020,0001


8PV-Rp108.351.218.152,50Rp184.136.078.668,95Rp96.254.340.529,04Rp50.280.713.751,39Rp26.321.768.275,12Rp13.771.858.868,73Rp7.201.802.229,54Rp3.771.591.170,13Rp1.973.790.482,40Rp1.033.590.983,47Rp540.676.320,37Rp282.472.843,54Rp147.890.812,44Rp77.365.110,96Rp12.356.006,34

IRR127,36%

NPV = 0 IRR = 127,36%

10.2.6. Analisa Break Even Point (BEP) dan Pay Back Periode (PBP)Tabel 10.10Pay Back PeriodTAHUNINVESTASIBIAYA OPERASITOTAL COSTBENEFITNET BENEFITD.F. = 18% PRESENT VALUEOMBi

0Rp100.712.450.652,50Rp7.638.750.000,00Rp108.351.218.152,50-Rp108.351.218.152,50 1,00000 -Rp108.351.218.152,50Rp7.638.750.000,00Rp0,00Rp100.712.450.652,50

1Rp88.596.450.652,50Rp98.529.723.123,00Rp450.443.250.000,00Rp351.913.526.877,01 0,84746 Rp298.231.802.438,14Rp75.081.737.841,10Rp381.731.567.796,61

2Rp88.596.084.465,00Rp98.522.351.062,74Rp450.094.500.000,00Rp351.572.148.937,26 0,71818 Rp252.493.643.304,55Rp63.628.328.400,60Rp323.250.861.821,32

3Rp89.195.420.002,50Rp99.121.945.709,01Rp450.110.250.000,00Rp350.988.304.290,99 0,60863 Rp213.622.317.940,85Rp54.287.086.315,12Rp273.950.994.259,39

4Rp89.195.602.702,50Rp99.125.622.548,75Rp450.284.250.000,00Rp351.158.627.451,25 0,51579 Rp181.123.713.452,98Rp46.006.099.586,42Rp232.251.606.806,14

5Rp89.195.580.652,50Rp99.125.182.037,06Rp450.263.250.000,00Rp351.138.067.962,94 0,43711 Rp153.485.685.675,96Rp38.988.210.350,23Rp196.814.216.304,88

6Rp89.195.360.152,50Rp99.120.731.620,13Rp450.053.250.000,00Rp350.932.518.379,87 0,37043 Rp129.996.472.931,19Rp33.040.774.548,86Rp166.713.918.109,72

7Rp89.195.690.115,00Rp99.127.391.414,75Rp450.367.500.000,00Rp351.240.108.585,25 0,31393 Rp110.263.062.749,50Rp28.000.759.980,83Rp141.381.632.390,60

8Rp89.195.753.902,50Rp99.128.684.007,50Rp450.428.250.000,00Rp351.299.565.992,50 0,26604 Rp93.459.091.455,97Rp23.729.474.580,78Rp119.831.104.522,35

9Rp89.196.053.152,50Rp99.134.720.601,90Rp450.713.250.000,00Rp351.578.529.398,10 0,22546 Rp79.265.513.871,31Rp20.109.791.688,73Rp101.616.038.473,74

10Rp89.195.953.927,50Rp99.132.732.524,28Rp450.618.750.000,00Rp351.486.017.475,72 0,19106 Rp67.156.488.556,58Rp17.042.177.388,01Rp86.097.231.250,03

11Rp89.195.378.265,00Rp99.121.123.127,95Rp450.070.500.000,00Rp350.949.376.872,05 0,16192 Rp56.825.386.106,54Rp14.442.429.999,46Rp72.874.983.183,08

12Rp89.195.605.065,00Rp99.125.692.591,07Rp450.286.500.000,00Rp351.160.807.408,93 0,13722 Rp48.186.119.267,84Rp12.239.378.578,56Rp61.788.099.742,10

13Rp89.195.519.227,50Rp99.123.959.736,63Rp450.204.750.000,00Rp351.080.790.263,37 0,11629 Rp40.826.389.282,30Rp10.372.344.745,74Rp52.353.289.869,41

14Rp65.049.193.913,19Rp69.472.163.740,92Rp176.633.250.000,00Rp107.161.086.259,08 0,09855 Rp10.560.610.010,29Rp6.410.528.227,94Rp17.407.017.166,56

Rp100.712.450.652,50Rp1.231.032.396.195,69Rp1.465.263.241.998,19Rp6.030.571.500.000,00Rp4.565.308.258.001,82PBP 0,26 Rp60.506.858.939,70Rp2.228.062.561.695,92Rp100.712.450.652,50

PBP3 bulan 12 hari

Tabel 10.10Break Even PeriodTAHUNINVESTASIBIAYA OPERASITOTAL COSTBENEFITNET BENEFITD.F. = 18% PRESENT VALUEOMBiCOST

0Rp100.712.450.652,50Rp7.638.750.000,00Rp108.351.218.152,50-Rp108.351.218.152,50 1,00000 -Rp108.351.218.152,50Rp7.638.750.000,00Rp100.712.450.652,50Rp108.351.218.152,50

1Rp88.596.450.652,50Rp98.529.723.123,00Rp450.443.250.000,00Rp351.913.526.877,01 0,84746 Rp298.231.802.438,14Rp75.081.737.841,10Rp381.731.567.796,61Rp83.499.765.358,47














Rp100.712.450.652,50Rp1.231.032.396.195,69Rp1.465.263.241.998,19Rp6.030.571.500.000,00Rp4.565.308.258.001,82BEP 1,68 Rp451.017.872.232,37Rp2.228.062.561.695,92Rp100.712.450.652,50Rp600.917.482.804,42

BEP 1 tahun 8 bulan 4 hari

10.3.1 Grafik Analisa Sensitivitas NPV(pembahasan terlampir)

SENSITIVITY (%)NPV

BENEFITOPINVESTMENTDF

0Rp1.627.145.078.891,50Rp1.627.145.078.891,50Rp1.627.145.078.891,50Rp1.627.145.078.891,50

5Rp1.738.548.206.976,29Rp1.597.099.204.751,28Rp1.622.109.473.858,87Rp1.708.502.351.211,07

10Rp1.849.951.335.061,09Rp1.567.053.330.611,06Rp1.617.073.851.326,25Rp1.789.859.606.030,65

-5Rp1.515.741.950.806,70Rp1.657.190.953.031,72Rp1.632.180.718.924,12Rp1.545.787.841.571,92

-10Rp1.404.338.822.721,91Rp1.662.608.513.939,34Rp1.637.216.341.456,75Rp1.464.430.586.752,35

Gambar 10.1Grafik Analisa Sensitivitas terhadap NPV10.3.2 Grafik Analisa Sensitivitas BEP (pembahasan terlampir)

SENSITIVITY (%)BEP


0,0 1,68 1,68 1,68 1,68

5,0 1,59 1,77 1,69 1,68

10,0 1,51 1,86 1,71 1,68

-5,0 1,78 1,59 1,66 1,68

-10,0 1,88 1,49 1,65 1,68

Gambar 10.2Grafik Analisa Sensitifitas Terhadap BEP10.3.3 Grafik Analisa Sensitivitas PBP (pembahasan terlampir)

SENSITIVITY (%)PBP


0,00,260,260,260,26

5,00,250,260,280,25

10,00,240,260,290,24

-5,00,280,260,250,28

-10,00,290,260,240,29

Gambar 10.3Grafik Analisa Sensitivitas Tehadap PBP

Yang Buat Babnya

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