Investment decision analysis of heavy equipment at PT Mandrosa Sukses
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Published:
Feb 28, 2024
Keywords:
Capital Budgeting, Feasibility Study, Heavy Equipment, Investment Decision
Section
Economy
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Abstract
Excavators are one type of heavy equipment that enables a variety of tasks such as digging, trenching, excavating, and loading trucks. It also helps move, lift, and place materials, such as stone and drainage products. Therefore, excavators are considered the most important heavy equipment in road construction projects. This research analyzed the feasibility of investment by calculating financial indicators in PT Mandrosa Sukses. This research aimed to determine and assess the feasibility of the excavator investment quantitatively from the financial aspect. This research used the quantitative approach to fulfill the research objectives. The parameters used to review these investments are the Net Present Value (NPV), Internal Rate of Return (IRR), Payback Period (PP), and Benefit Cost Ratio (BCR) methods. The analysis generates an NPV of IDR 597,874,848, an IRR of 26.23%, and a Payback Period of 4.08 years. Based on the cost benefit analysis, the purchasing option results in a BCR of 1.08 and the renting option results in a BCR of 1.02. it can be concluded that purchasing an excavator is a better option than renting an excavator
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How to Cite
Santoso, H. . and Damayanti, S. M. . (2024) “Investment decision analysis of heavy equipment at PT Mandrosa Sukses”, Jurnal Mantik, 7(4), pp. 3065-3074. doi: 10.35335/mantik.v7i4.4541.
References
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Abuk, G. M., & Rumbino, Y. (2020). Economic feasibility analysis using Net Present Value (NPV) method,Paybackperiod (PBP), Internal Rate of Return (IRR) Method on Stone Crusher Unit at CV. X Kab. Kupang Prov. NTT. Jurnal Ilmiah Teknologi FST Undana, 14(2).
Aribowo, A., & Kurniati, N. (2019). Program Designing the Improvement of Excavator’s Maintenance Team Competencies (Case Study in a Sandstone Mine Company PT XYZ). IPTEK Journal of Proceedings.
Brijlal, P., & Quesada, L. (2009). The use of capital budgeting techniques in businesses: a perspective from the Western Cape. The Journal of Applied Business Research, 25(4), 37–46.
Chriswahyudi, C., & Darma, S. A. (2021). Analisa kelayakan investasi alat pengolahan kerak tembaga di PT. Tembaga Mulia Semanan. Jurnal PASTI, 15(1), 46–58.
Creswell, J. W. (2009). Research Design: Qualitative, Quantitative, and Mixed Methods Approaches (3rd ed). Thousand Oaks, CA: Sage Publications.
Creswell, John W, & Plano Clark, V. L. (2007). Designing and Conducting Mixed Methods Research. Thousand Oaks, Calif: SAGE Publications.
Fahmi, M., & Ghuzdewan, T. A. (2023). Productivity analysis PC-300 and PC-400 in earthworks at a Gold Mining Project in Indonesia. Journal of the Civil Engineering Forum, 9(3), 343–356. https://doi.org/DOI 10.22146/jcef.6600
Gill, P., Stewart, K., Treasure, E., & Chadwick, B. (2008). Methods of data collection in qualitative research: interviews and focus groups. British Dental Journal, 204, 291–295. https://doi.org/https://doi.org/10.1038/bdj.2008.192
Hox, J. J., & Boeije, H. R. (2005). Data Collection, Primary vs. Secondary. In In Encyclopodia of Social Measurement (pp. 593–599). Amsterdam: Elsevier. https://doi.org/https://doi.org/10.1016/B0-12-369398-5/00041-4
Kabir, S. M. S. (2016). Methods of Data Collection. In Basic Guidelines for Research: An Introductory Approach for All Disciplines (first, pp. 201–275). Book Zone Publication.
Mokoagow, F. Y., & Anondho, B. (2023). Faktor-faktor yang mempengaruhi produktivitas excavators pada ekerjaan galian di Solo dan Manado. JMTS: Jurnal Mitra Teknik Sipil, 6(1), 123–132.
Nugraha, A. T., Prayitno, G., Situmorang, M. E., & Nasution, A. (2020). The role of infrastructure in economic growth and income inequality in Indonesia. Economics and Sociology, 13(1), 102–115. https://doi.org/doi:10.14254/2071-789X.2020/13-1/7
Petronijevic, P., Rako?evi?, M., Arizanovic, D., & Ivanisevic, N. (2012). Methods of calculating depreciation expenses of construction machinery. Journal of Applied Engineering Science, 10(1), 43–48. https://doi.org/DOI:10.5937/jaes10-1664
Ridwan, A. F., Romli, Z., & Soeroto, W. M. (2022). Analisa kelayakan investasi proyek penggantian secondary crusher pada PT Berau Coal Site Binungan. Sebatik, 26(1).
Rodríguez, L. Z. S. (2023). Determination of the Weighted Average Cost of Capital (WACC) applied to a COOPAC of Lima Cercado. Journal of Business and Entrepreneurial Studie, 7(3). https://doi.org/DOI:10.37956/jbes.v7i3.338
Salim, W., & Negara, S. (2018). Infrastructure development under the Jokowi administration: progress, challenges and policies. Southeast Asian Economies, 35(3), 386–401. https://doi.org/DOI:10.1355/ae35-3e
Simatupang, T. M., & Hendarman, A. F. (2012). An analysis of heavy equipment supply chain in supporting infrastructure construction. International Conference on Construction, Facilities and Asset Management, Padang, Indonesia.
Siziba, S., & Hall, J. H. (2019). The evolution of the application of capital budgeting techniques in enterprises. Global Finance Journal, 47(2). https://doi.org/DOI:10.1016/j.gfj.2019.100504
Souza, P. de, & Lunkes, R. J. (2016). Capital budgeting practices by large Brazilian companies. Contaduría y Administración, 61(3). https://doi.org/DOI:10.1016/j.cya.2016.01.001
Sulistyowati, D., & Wibowo, P. (2022). Infrastructure spending in the characteristics of the regions: towards the achievement of sustainable development goals. THE INDONESIAN JOURNAL OF ACCOUNTING RESEARCH, 25(3), 319–358. https://doi.org/DOI: 10.33312/ijar.622
Taherdoost, H. (2021). Data collection methods and tools for research; a step-by-step guide to choose data collection technique for academic and business research projects. International Journal of Academic Research in Management (IJARM), 10(1), 10–38.
Tariq, M., & Khattak, S. R. (2019). Practices of capital budgeting techniques: evidence from the corporate sector of Pakistan. NUML International Journal of Business & Management, 14(1).
Turok, I., & McGranahan, G. (2013). Urbanization and economic growth: the arguments and evidence for Africa and Asia. International Institute for Environment and Development (IIED), 25(2), 465–482. https://doi.org/https://doi.org/10.1177/0956247813490908
Wiratama, D. H. (2020). Feasibility analysis of investment assets for business development in the calculation of capital budgeting in Surabaya UD Rahayu. IJESS International Journal of Education and Social Science, 1(1), 16–27. https://doi.org/DOI: https://doi.org/10.56371/ijess.v1i1.24
Zakri, R. S., Murad, M., & Sumarya, S. (2014). Analisis investasi pengadaan alat berat di PT. Karbindo Abesyapradhi dengan metode NPV dan IRR. Jurnal Bina Tambang, 1(2). https://doi.org/DOI?: https://doi.org/10.24036/bt.v1i2.3694
Abuk, G. M., & Rumbino, Y. (2020). Economic feasibility analysis using Net Present Value (NPV) method,Paybackperiod (PBP), Internal Rate of Return (IRR) Method on Stone Crusher Unit at CV. X Kab. Kupang Prov. NTT. Jurnal Ilmiah Teknologi FST Undana, 14(2).
Aribowo, A., & Kurniati, N. (2019). Program Designing the Improvement of Excavator’s Maintenance Team Competencies (Case Study in a Sandstone Mine Company PT XYZ). IPTEK Journal of Proceedings.
Brijlal, P., & Quesada, L. (2009). The use of capital budgeting techniques in businesses: a perspective from the Western Cape. The Journal of Applied Business Research, 25(4), 37–46.
Chriswahyudi, C., & Darma, S. A. (2021). Analisa kelayakan investasi alat pengolahan kerak tembaga di PT. Tembaga Mulia Semanan. Jurnal PASTI, 15(1), 46–58.
Creswell, J. W. (2009). Research Design: Qualitative, Quantitative, and Mixed Methods Approaches (3rd ed). Thousand Oaks, CA: Sage Publications.
Creswell, John W, & Plano Clark, V. L. (2007). Designing and Conducting Mixed Methods Research. Thousand Oaks, Calif: SAGE Publications.
Fahmi, M., & Ghuzdewan, T. A. (2023). Productivity analysis PC-300 and PC-400 in earthworks at a Gold Mining Project in Indonesia. Journal of the Civil Engineering Forum, 9(3), 343–356. https://doi.org/DOI 10.22146/jcef.6600
Gill, P., Stewart, K., Treasure, E., & Chadwick, B. (2008). Methods of data collection in qualitative research: interviews and focus groups. British Dental Journal, 204, 291–295. https://doi.org/https://doi.org/10.1038/bdj.2008.192
Hox, J. J., & Boeije, H. R. (2005). Data Collection, Primary vs. Secondary. In In Encyclopodia of Social Measurement (pp. 593–599). Amsterdam: Elsevier. https://doi.org/https://doi.org/10.1016/B0-12-369398-5/00041-4
Kabir, S. M. S. (2016). Methods of Data Collection. In Basic Guidelines for Research: An Introductory Approach for All Disciplines (first, pp. 201–275). Book Zone Publication.
Mokoagow, F. Y., & Anondho, B. (2023). Faktor-faktor yang mempengaruhi produktivitas excavators pada ekerjaan galian di Solo dan Manado. JMTS: Jurnal Mitra Teknik Sipil, 6(1), 123–132.
Nugraha, A. T., Prayitno, G., Situmorang, M. E., & Nasution, A. (2020). The role of infrastructure in economic growth and income inequality in Indonesia. Economics and Sociology, 13(1), 102–115. https://doi.org/doi:10.14254/2071-789X.2020/13-1/7
Petronijevic, P., Rako?evi?, M., Arizanovic, D., & Ivanisevic, N. (2012). Methods of calculating depreciation expenses of construction machinery. Journal of Applied Engineering Science, 10(1), 43–48. https://doi.org/DOI:10.5937/jaes10-1664
Ridwan, A. F., Romli, Z., & Soeroto, W. M. (2022). Analisa kelayakan investasi proyek penggantian secondary crusher pada PT Berau Coal Site Binungan. Sebatik, 26(1).
Rodríguez, L. Z. S. (2023). Determination of the Weighted Average Cost of Capital (WACC) applied to a COOPAC of Lima Cercado. Journal of Business and Entrepreneurial Studie, 7(3). https://doi.org/DOI:10.37956/jbes.v7i3.338
Salim, W., & Negara, S. (2018). Infrastructure development under the Jokowi administration: progress, challenges and policies. Southeast Asian Economies, 35(3), 386–401. https://doi.org/DOI:10.1355/ae35-3e
Simatupang, T. M., & Hendarman, A. F. (2012). An analysis of heavy equipment supply chain in supporting infrastructure construction. International Conference on Construction, Facilities and Asset Management, Padang, Indonesia.
Siziba, S., & Hall, J. H. (2019). The evolution of the application of capital budgeting techniques in enterprises. Global Finance Journal, 47(2). https://doi.org/DOI:10.1016/j.gfj.2019.100504
Souza, P. de, & Lunkes, R. J. (2016). Capital budgeting practices by large Brazilian companies. Contaduría y Administración, 61(3). https://doi.org/DOI:10.1016/j.cya.2016.01.001
Sulistyowati, D., & Wibowo, P. (2022). Infrastructure spending in the characteristics of the regions: towards the achievement of sustainable development goals. THE INDONESIAN JOURNAL OF ACCOUNTING RESEARCH, 25(3), 319–358. https://doi.org/DOI: 10.33312/ijar.622
Taherdoost, H. (2021). Data collection methods and tools for research; a step-by-step guide to choose data collection technique for academic and business research projects. International Journal of Academic Research in Management (IJARM), 10(1), 10–38.
Tariq, M., & Khattak, S. R. (2019). Practices of capital budgeting techniques: evidence from the corporate sector of Pakistan. NUML International Journal of Business & Management, 14(1).
Turok, I., & McGranahan, G. (2013). Urbanization and economic growth: the arguments and evidence for Africa and Asia. International Institute for Environment and Development (IIED), 25(2), 465–482. https://doi.org/https://doi.org/10.1177/0956247813490908
Wiratama, D. H. (2020). Feasibility analysis of investment assets for business development in the calculation of capital budgeting in Surabaya UD Rahayu. IJESS International Journal of Education and Social Science, 1(1), 16–27. https://doi.org/DOI: https://doi.org/10.56371/ijess.v1i1.24
Zakri, R. S., Murad, M., & Sumarya, S. (2014). Analisis investasi pengadaan alat berat di PT. Karbindo Abesyapradhi dengan metode NPV dan IRR. Jurnal Bina Tambang, 1(2). https://doi.org/DOI?: https://doi.org/10.24036/bt.v1i2.3694
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