Analisis finansial hutan tanaman Sengon (Paraserianthes falcataria (L) Nielsen) dan industri veneer: studi kasus PT Nityasa Idola, Kalimantan Barat

Abstract

Forest plays significant role in human life. One of them will be that it serves as wood producer. As population is getting greater, the need for wood and its processed product also increases. Unfortunately, the fact that the area of Indonesian nature forest is declining has resulted in failure to satisfy the need for industrial wood. Thus, serving as solution to satisfy the need of industrial wood, industrial plantation is finally developed. In the time being, industrial plantation plays important role in the frame of satisfying the need of national industrial wood. From the perspective of wood volume recently produced, industrial plant forest has slowly replaced the role of nature forest in satisfying the need of wood. Industrial plantation is considered the integral part of business activity with relatively durable investment period thus increasing investment risk. Therefore, prior to the implementation of industrial plantation development, it is highly important to generate well-organized planning. One of the industrial plantation planning activities will be financial analysis. This research aims to analyze financial feasibility of industrial plantation and veneer industry in PT Nityasa Idola. The expectation will be that this research could provide information concerning financial feasibility for sengon industrial plantation and veneer industry in PT. Nityasa Idola. The method of data processing applied in this research is financial analysis with three criteria assessed; those are Net Present Value (NPV), Benefit Cost Ratio (BCR) and Internal Rate of Returns (IRR), and the feasibility analysis period is calculated within 24 years. The investment of sengon industrial forest utilization by PT Nityasa Idola is not feasible to conduct at interest rate of 12%. The NPV reaches (IDR 192,769,710,566), BCR is 0.22, and IRR is -3.15%. The investment of sengon forest utilization by PT Nityasa Idola is feasible to conduct at interest rate of 12%. The NPV reaches IDR 17,995,905,895, BCR is 1.88, and IRR is 27.43%. This obviously shows that the investment of sengon forest utilization by PT Nityasa Idola is feasible to conduct at interest rate of 27,43%. The investment of combined utilization between sengon industrial plantation and veneer industry by PT Nityasa Idola is not feasible to conduct at interest rate of 12%. The NPV reaches (IDR 173.221.397.004), BCR is 0.56, and IRR is 0.87%. It means the investment of combined utilization between sengon forest and veneer industry by PT Nityasa Idola is feasible to conduct at interest rate of no more than 0.87%. Industrial plantation (HTI) and Veneer industrial utilizations remain in operation since both could only yield intermediate product in one corporate group; thus, it is feasible to estimate that the benefit can be obtained in final product.