Arson Aliludin
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BANKING EFFICIENCY ANALYSIS OF CONVENTIONAL AND ISLAMIC BANKS IN INDONESIA USING DATA ENVELOPMENT ANALYSIS Azhahra, Devi Rizkia; Aliludin, Arson
Journal of Business and Management Vol 7, No 3 (2018)
Publisher : Journal of Business and Management

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Abstract - Banking is one of the pillars of economic growth and national stability to improve people's lives from the financial sector. If we look at the history of Indonesian banking, conventional banks were operated much earlier than Islamic bank. Islamic bank was newly established on 1992 while Conventional banks was operated longer than Islamic Bank. Until now, banking industry in Indonesia is dominated by the conventional banking market. But along with the development of the banking world and the needs of the muslim majority in Indonesia to obtain financial services that are based on the principles of Islam which is the principle of profit sharing, the government published the Act No.7 of 1992 on banking. In conducting its operational activities the bank must work efficiently in order to grow faster and survive amid market competition.  In such circumstances, the assessment of bank efficiency becomes important since efficiency is a performance picture of the bank.This study measure VRS efficiency and CRS efficient of two group of banks that are conventional banks and islamic banks in Indonesia for period 2012-2017. The method used is non-parametric frontier  method using data envelopment analysis (DEA) with three input variables, total deposit, labor cost and fixed assets and two input variable, total loans and total income. This study used intermediation approach with output orientation. The finding of the study show that conventional banks were more efficient rather than Islamic banks.Keywords: Banking Industry, Efficiency, Data Envelopment Analysis, Output-orientation, Intermediation Approach
ECONOMIC FEASIBILITY STUDY OF EMERALD HOTEL IN PANGANDARAN Immanuel, Bernhard; Aliludin, Arson
Journal of Business and Management Vol 5, No 5 (2016)
Publisher : Journal of Business and Management

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Abstract. The purpose of this research is to analyze the feasibility of Emerald Hotel which located in Pangandaran, West Java. Pangandaran Beach tourism has been improving from year to year so that the high quality accommodation to retain the tourist is needed. However, there is a lack of availability of this accommodation that can result in loss of potential tourist due to switch to another tourism object and the feasibility study of the hotel in economic aspect had not been conducted. This research is to know whether this project is feasible or not and to give a recommendation what step must be conducted to make the project more profitable. This research will explain comprehensively start from the background of the problem, the objectives of the research, concept which is used in this research based on financial books and websites, the systematic method in develop the research, data collection method, detail calculation in order to catch project's Net Present Value, Internal Rate of Return, and Payback Period until give conclusion and recommendation for the project. The conclusion of this project based on data calculation in this research is Emerald Hotel project is feasible to do. The result of Net Present Value is Rp 34,013,249,479 which is greater than zero, Internal Rate of Return is 36.15% which is greater than WACC (11.25%) as hurdle rate, and Payback Period for 3 years 2 months.Keywords: Feasibility Study; Net Present Value; Internal Rate of Return; Payback Period
COST ANALYSIS OF SAHABAT RETAIL STORE JAMBI Hassadi, Irfan; Aliludin, Arson
Journal of Business and Management Vol 6, No 3 (2017)
Publisher : Journal of Business and Management

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Abstract. Sahabat retail store is one of retail store located in Jambi province. This store has build in 1991 by Mr. Anditoni. This store has 3 level of building with 5m width and 17m length. This retail has sold nine categories of products, which are, bed cover, sarong, batik sarong, women pray kit, prayer rugs, blanket, mosquito net, bolster case, and pillowcase. This store got the item from suppliers that located in Jakarta. Until 2016, this store not has a good cost management. Because of this by doing cost analysis of sahabat retail store especially in 2016, it will help the owner made a good cost management for the future. As the result of the analysis, this store has revenue Rp.506.272.000. in 2016; this store also spent Rp.495.317.027 as cost. This cost divided into 2 kinds, operational cost, and merchandise cost. Operational costs take Rp.183.827.027 and merchandise cost take Rp.311.490.000. In 2016, the store has BEP level 3.932 unit and Rp.474.792.055 for BEP level in Rupiah. They have reached their BEP level in 2016. The unit cost of each product is in table 3, the range between Rp.15.902 to Rp.389.588. They also can gain Profit Rp.10.954.973 in 2016.Key words: Cost analysis, break-even point, managerial accounting, retail
Cost Analysis of Prabumulih Storage Facilities Aldiansah, Erza; Aliludin, Arson
Journal of Business and Management Vol 2, No 2 (2013)
Publisher : Journal of Business and Management

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Cost Analysis of Prabumulih Storage Facilities (a Division of PT. Emprawi) in 2010 and 2011 are: to identify direct costs, indirect costs and cost allocation Jakarta office, classify these costs into variable costs and fixed costs based on behavior of the respective cost. Identification and classification results are used to determine total margin, cost per unit and break-even point (BEP). Direct costs include employee labor, security police, electricity, field examination accommodation, storage maintenance, social contributions, office supplies, and depreciation of assets, while indirect costs include bank administration, bid bond, business licenses and permits. Direct costs and indirect costs plus Jakarta office allocation formed total cost amounting to Rp. 599 million for the year 2010, consisting of 30% variable costs and 70% fixed costs, while for the year 2011 total cost amounting to Rp. 1.150 million consisting of 40% variable costs and 60% fixed costs. This division rented storage space of 7.650 m2 which generated revenues of Rp. 246 million in 2010 with a negative margin of Rp 353 million. While in 2011 it rented 53.850 m2 that generated revenue of Rp. 1,740 million with a positive margin of Rp. 590 million. BEP in 2010 was 54.859 m2 with the actual rent of 7.650 m2 reflecting respectively 63% and 9% of the available capacity of 86.400 m2, while in 2011, BEP was 29.637 m2 with actual rents of 53.850 m2 reflecting 26% and 47% of available capacity of 115.200 m2. To facilitate the cost analysis, it is recommended that PT. Emprawi improves cost information system that enhances a proper cost identification and classification. Keywords: storage facilities, cost identification, cost classification, direct cost, indirect cost, variable cost, fixed cost, Jakarta office allocation and break even point (BEP), PT. Emprawi – Prabumulih
COMPARING DETERMINANT OF PROFITABILITY BETWEEN ISLAMIC BANKS AND CONVENTIONAL BANKS IN INDONESIA CASE STUDY EIGHT ISLAMIC BANKS AND EIGHT CONVENTIONAL BANKS IN INDONESIA PERIOD 2010 - 2013 Herdiana, Dita; Aliludin, Arson
Journal of Business and Management Vol 3, No 2 (2014)
Publisher : Journal of Business and Management

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The main theme of this research is profitability and focus on finding determinant profitability in Islamic banking. It also explain the differences determinant of Islamic banking and conventional banking in Indonesia. This research uses quarterly bankâ??s financial report from July 2010 until September 2013 from 8 Islamic banks and 8 conventional banks. The sample selections from Islamic banks are 3 non foreign exchange banks and 5 foreign exchange banks; and, the sample from conventional banks are 1 non foreign exchange bank, 2 state owned banks and 5 foreign exchange banks. This research used multiple regression method as analysis statistic tools to determine which factors affect each dependent variable. The dependent variables are Return on Asset (ROA), Return on Equity (ROE) and Net Interest Margin (NIM). The independent variables from Islamic banks are IB wadiah demand deposit, IB wadiah saving deposit, IB mudharaba saving deposit, IB total saving deposit, IB mudharaba time deposit and IB total depositors funds, mudharaba receivable, placement in Bank Indonesia, placement in other banks, security in investment, then small enterprise credit, non-small enterprise credit, property credit, non-property credit, quick ratio and core depositors to depositors funds ratio. The independent variables for conventional banks are demand deposit, saving deposit, time deposit, cash, placement in Bank Indonesia, placement in other banks, security in investment, small enterprise credit, non-small enterprise credit, and restructured credit property credit. The result showed the independent variables that significantly affects ROA is IB wadiah demand deposit for Islamic banks and demand deposit for conventional banks; the independent variables that significant variable with ROE is IB wadiah demand deposit for Islamic banks and demand deposit for conventional banks; and the independent variables that significant variable with NIM is IB mudharaba time deposit for Islamic banks and time deposit for conventional banks. This research shows depositorsâ?? funds have significant effect for ROA, ROE and NIM. Keywords: Islamic Banking, Conventional Banking, Depositors Funds, Profitability, Multiple Regressions
ECONOMICAL FEASIBILITY STUDY OF SAGARA UPALA HOTEL CONSTRUCTION IN PANGANDARAN Rasyid, Adhytia Azhari; Aliludin, Arson
Journal of Business and Management Vol 4, No 1 (2015)
Publisher : Journal of Business and Management

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Abstract- Any investations are hopefully make a positive return in long term or mid term, but it is always have risk when you spend a money for investation.This research aimed to find the investment feasibility of the company project  so the company can make the correct decision for the investment plan. To solve the problem this research calculate the value of Net Present Value (NPV), investment Interest Rate of Return (IRR), the Investment Payback Period (PBP) of the project The object of this research is a hotel construction in Pangandaran beach, Jawa Barat, Indonesia by PT Graha Mitra Properti. The project will stated as feasible if the Net Present Value (NPV) is higher than 0 (NPV>0) and the Interest Rate of Return (IRR) is higher than the rate of return. The lifetime of this project is 30 years. This research will only explain economical feasibility study based on investment, cash inflow and cash outflow and there are several assumption in this research to limit the the scope of the final project. Keywords: B2B marketing, e-commerce, technology acceptance model (TAM), consumer behavior, building material 
Valuation of PT Bank Tabungan Negara(Persero) TBK for Acquistion Zuhrah, Fatimah Nur; Aliludin, Arson
Journal of Business and Management Vol 3, No 5 (2014)
Publisher : Journal of Business and Management

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The purpose of this final project is to estimate the company value of PT Bank Tabungan Negara (Persero) Tbk or BTN as short, which is an Indonesian government-owned Bank in the form of a limited liability company and is engaged in the country’s mortgage loans sector, housing, banking financial services and Islamic banking. Its vision is to be the leading bank in housing finance in Indonesia. At the beginning of February 2014 there was an issue that PT Bank Tabungan Negara (Persero) Tbk or BTN will be acquired. Many banks were deemed to acquire BTN, but Bank Mandiri shows the most interest. Although the plans of acquiring BTN by Bank Mandiri were recently informed to have failed, Bank Mandiri claimed to still hold interest to acquire BTN and that the acquisition is highly possible even if it doesn’t happen in year 2014. In 2013, BTN was reviewed to have shown good performance in the business, but unexpectedly news about BTN going to be acquisitioned arise. Some viewed that the acquisition is not necessary. Up until now there are no banks that have a good position like BTN who focuses well on housing finance for the middle to low class market. The process of acquisition by another bank with a different business focus would make BTN lose its core focus; as a fact BTN now controls nearly 98% lower intermediate housing market. Therefore, the purpose of this final project is to examine the company value of BTN assuming it will be acquisitioned. The author will use valuation using numbers from BTN’s financial report and a review of its financial performance from year 2009 to 2013 using the valuation principles and methods specifically for valuing Banks which are: dividend discount model, cash flow to equity model, excess return model and relative valuation model. The values of equity per share generated from all four models respectively are Rp 823, Rp 1,489, Rp 857, Rp 869 compared to the actual market value per share of BTN by the end of year 2013 of Rp 870. Seeing that in actual BTN is currently performing well in the stock exchange, there is no need for an acquisition. Merely based on the calculations in this research, BTN is actually worth below its market value which is an advantage for the acquirer.
Cost Analysis of Ciputat Residence Sari, Nacita Pramesty; Aliludin, Arson
Journal of Business and Management Vol 2, No 1 (2013)
Publisher : Journal of Business and Management

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This research is made to know the cooperation between landowner and developer to build a residence and to know the system of profit-sharing because for this case, the land is owned by the landowner. The method that used for this research is cost analysis. This research used the data from PT. Promacomm.Landowner and developer made an agreement for the profit-sharing. According to the agreement, landowner will get 35% from revenue of the residence. After the calculation, landowner gets only 22% from revenue. But the developer Final project will discuss all the costs that will be incurred by the developer to build a residence. Scope for the final project is discussed about cost analysis for this project and patterns of cooperation between developer and landowner. The assumption is that all units from this residence were soldout in 2 years, with positive NPV and IRR calculations and according to Indonesia's economy is considered stable with inflation at 12%. Inflation is 12% derived from seeing how much the price of raw materials for the property will increase. This paper analysis costs that incurred from developer to developed a residence Keywords: cooperation system, developer company; PT. Promacomm: Ciputat ResidenceCategory: Finance;
IN SEARCH OF FAIR UNIT RATE TERMINAL NAVIGATION CHARGE FOR SOEKARNO HATTA AIRPORT & HALIM AIRPORT USING ACTIVITY BASED COSTING SYSTEM AT AIRNAV INDONESIA Ahmad Junaedi, Rahayu; Aliludin, Arson
The Indonesian Journal of Business Administration Vol 8, No 1 (2019)
Publisher : The Indonesian Journal of Business Administration

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Abstract. Current Air Navigation Charge system does not fully apply the concept of cost recovery that become the main base of financial management in AirNav Indonesia according to President Decree No 77 of 2012. One of the proofs is that the Terminal Navigation Charge structure is based on three categories: Precision, Non-Precision, and Information. This research is conducted in search of fair unit rate terminal navigation charge which is comply with cost recovery using activity-based costing system. Soekarno Hatta and Halim Airport are chosen as the research location because both airports have completely different operational complexity yet but both are in same category of terminal navigation charge, precision category with the unit rate of Rp.5.500. Result of this research found that the unit rate of Soekarno Hatta Airport is Rp.22.273 for domestic flight and Rp.21.305 for international flight; meanwhile the unit rate of Halim Airport is Rp.47.732 for domestic flight and Rp.45.658 for international flight. Based on analysis of total costs needed to hold the terminal navigation charge in those airports, there is still deficit of Rp. 389,32 M by applying current unit rate. However, when applying the new unit rate, those cost will be fully covered.Those new unit rate is still under the unit rate that is stipulated in AirServices Australia that has operational similarities with AirNav Indonesia as well. By applying the new unit rate for Soekarno Hatta Airport, operational cost of flight Airbus 320 with 1-hour flight hour will increase 1.55% for domestic flight and 1.14% for international flight, that will gradually decrease as the flight hour increases. Applying the new unit rate will also increase the ticket price of flight Airbus 320 of Rp.11.415 per passenger for domestic flight and Rp.9.061 per passenger for international flight for flight load factor 60%, whereas the impact will gradually decrease as the flight load factor increases. Based on research result and the corresponding analysis, so the new determined unit rate is more reasonable and apply fairness for the stakeholders.Keywords: terminal navigation charge, PCN, PCF, ABC System, Cost Recovery
Feasibility Analysis of Argo Parahyangan Replacement Project in PT Kereta Api Indonesia (Persero) Manurung, Chaterina; Aliludin, Arson
The Indonesian Journal of Business Administration Vol 3, No 11 (2014)
Publisher : The Indonesian Journal of Business Administration

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Abstract. Mobility of people to travel is very high in this modern era. PT. Kereta Api Indonesia (Persero) is one of the state-owned companies that engaged in transportation and has been railway operator for Java and Sumatra region. One of the most busy and favorable route for railway passenger service is Jakarta-Bandung. Cipularang Toll that constructed in 2005 made significant impact to PT. Kereta Api Indonesia (Persero). The travel time through the corridor has been much improved for toll-road travelers than for rail travelers, so it gives impact that a major part of the railway customers have been diverted to toll-road.To improve the reliability of Argo Parahyangan train, there is a project to replace the existing train and add one train. To know the value and benefit of this project, feasibility study should be done through several analyses. The techniques that used to do investment evaluation are Payback Period, Net Present Value, Internal Rate of Return, and Profitability Index. Cash inflow and cash outflow for calculating the feasibility of project are using incremental analysis which is taking the differences between existing condition and proposed condition.From the feasibility analysis conducted, it can be concluded that Argo Parahyangan replacement project is feasible to run. It could be seen from a positive NPV, IRR exceeds the cost of capital, PI more than one, and project payback is faster than the economic life of trains. Keywords: Railway Industry, Argo Parahyangan, Incremental Analysis, Feasibility Study, Monte Carlo Simulation.