NILAI PASAR WAJAR SAHAM PT. KRAKATAU STEEL DALAM RANGKA PRIVATISASI 2010
| Main Authors: | , Asno Minanda, S.E., , Dr. Muhammad Edhie Purnawan, MA. |
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| Format: | Thesis NonPeerReviewed |
| Terbitan: |
[Yogyakarta] : Universitas Gadjah Mada
, 2011
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| Subjects: | |
| Online Access: |
https://repository.ugm.ac.id/88803/ http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=50946 |
Daftar Isi:
- This study research is to analyze the Fair Market Value of PT. Krakatau Steel share within the framework of privatization in 2010, its shares of stock owned by the public (minority). The analytical tool used in the study were Income Based Approach and the Market-Based Approach. The data used in this research is based on PT. Krakatau Steel (Persero) financial statement�s which has been audited by Public Accountant year period from 2007 to 2010, the financial statements 3 (three) companies. All three comparison companies are: Hyundai Steel Co. from South Korea, Nippon Steel Corp., from Japan, and Pohang Iron and Steel Company (POSCO) of South Korea. The financial statements are then analyzed to determine the condition of the financial fundamentals and calculate the fair market value of shares. Krakatau Steel (Persero) Tbk. within the framework of privatization in 2010 by using the Income Based Approach and Market-Based Approach. Results obtained using both approaches by Minority Discount applying Discount Lack of Control and based on the analysis of the ability of the company's financial fundamentals, then the fair market value of equity of PT. Krakatau Steel (Persero) Tbk. on June 30, 2010 amounted to the income approach obtained an indication of fair market value of Rp29.082.282.000.000,- and with the market based approach obtained an indication of Rp18.782.806.643.333,-. By providing a weighting of 80 percent of the Discounted Cash Flow Method and 20 percent of the Market Multiple Method, the indication of fair market value of shares (equity), PT. Krakatau Steel (Persero) Tbk., Before considering the minority discount amounted Rp1.844,- per share. The fair market value of minority shares of publicly owned with shares of 3.155.000.000 shares and apply the minority discount of 30%, then the fair market value amounted to Rp3.783.134.170.013,- or Rp1.199,- per share.