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KJPP Edi Andesta dan Rekan
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LAPORAN STUDI KELAYAKAN BISNIS
Studi Kelayakan Bisnis Terkait Penambahan Bidang Usaha
KBLI 50131 (Angkutan Laut Dalam Negeri untuk Barang Umum),
KBLI 50133 (Angkutan Laut Dalam Negeri untuk Barang Khusus,
KBL 50141 (Angkutan Laut Luar Negeri untuk Barang Umum),
KBL 50142 (Angkutan Laut Luar Negeri untuk Barang Khusus) dan
KBLI 64200 (Aktivitas Perusahaan Holding)
Disiapkan Untuk
PT Hotel Fitra International Tbk .
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Hal
Halaman Judul
Daftar lsi
Bab I- Pendahuluan . . .. . .. 2
1.1 Latar Belakang......... 2
1.2 Penilai................. 5
1.3 Pember Tugas 6
1.4 PenggunaLaporan ....oooooo 6
1.5 Objek Studi Kelayakan Bisnis 6
1.6 Mata Uang yang digunakan 7
17 Maksud dan Tujuan ...... 7
1.8 Metode Penyusunan Laporan Studi Kela yakan 7
1.9 Tanggal Studi Kelayakan Bisnis 8
1.10 Sifat dan Sumber Informasi................. 8
11f Asumsi dan Asumsi Khusus 8
112 Persyaratan atas Persetujuan untuk Publikasi.........oooooooooooooooo. 9
1.13 Batasan atau Pengecualian alas Tanggung Jawab Kepada Pihak Selain
Pemberi T ugas ... .... ... .. .. . 9
1.14 Peryataan Tertulis dari Pemberi Tugas mengenai Kebenaran dan Sifat Informasi
yang Diberikan . ......o............. IO
1.15 Kondisi-Kondisi Pembatas . . IO
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Bab l Gambaran Perseroan& Data Informasi.....ooooooooooooooooooooooooooooooooooooooooooooooolf
21. Informasi Keuangan dan Informasi Lainnnya. 1f
22 ProflPT Sinergi Multi Lestarindo....... 12
2.3. Produk dan Layanan......8.0.0000....... 13
2 4. Struktur Permodalan .. .. .. .. . . 14
2.5. Susunan Manajemen dan Struktur Organisasi.... 15
26. Legalitas dan Perizinan......00.... 15
27. Tenaga Kerja.... .......006.00008000000000000000000 1
28. Tinjauan Kinerja Keuangan........0008000000000000000000000000000000000000oooo 1l
29. Profit PT. Poseidon Shipping Indonesia. .......ooooooooooo 22
210. Produk dan Layanan. ...ooooooooo 23
211 Struktur Permodalan. 24
212 Susunan Manajemen dan Struktur Organisasi.......0800% 24
213. Legalitas dan 25
Perizinan...680088000000080068,00000800000000000000000000000000000000o
214. Tenaga Kerja.......... 25
215. Tinjauan Kinerja euangan........+.80008000080000008000000000000000000000000.25
216. Gambaran Perekonomian dan Industni......0800080000006.080000000000080000008000o 28
217. Kejadian Setelah Tanggal Studi Kelayakan (Subsequent Event)..... .»oooo..., 47
Bab lll Analisis Kelayaka0...oooooooooooooooooooooooooooooooooooooo00ooooooooooooooooooooooooooowood8
31, A$pek PS36. »+008800880800000000000000000000000000000000600000000000000ooooo 48
J2 Aspek Teknts. .. .. . . .. •• •. .. . .. .. 52
3.3. ASpek Pola Bisnis.....8»880000000000000000000000000000000000000000o 63
34. Aspek Model Manajemen........80800000.00 69
3.5. Aspek Keuangan Penambahan K8LI 50131, 50133, 50141 dan 50142..... 77
3.6. Aspek Keuangan Penambahan KBL! 64200 (Aktivitas Perusahaan Holding).. 88
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Bab IV - Knimpulan ·····-···-···--··········-··-·-····························--···--···------··········· 100
41. Anab51$Kelayak;w!AspekPasar•...••......••..••......••..••...•..••••.....•...•............. 100
4.2. Analisis Kela yakan Aspek Teknis........ .. 102
4.3. Analisis Kelayakan Aspek Pola Brsrw.......... 103
44. Analisis Kelayakan Aspek Model Manajemen... oooooo.oooo-oooooos 103
4.5. Analisis Kelayaka-1 Aspek Keuangan 104
4.6. Kesimpulan Studi Kelayakan Bisnis....oooooooooooooooo.oooooo 000080ooooooooooooo.106
47 Distribusi Laporan Studi Kela yakan Bis0is....ooo.0000000000000.00000.107
Pemyatun �nllal....... .. .. .. 108
Asumsi dan SDyarat Pembata$..++8888ooooooooooooooooooooooooooo109
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No. 00083/2.0053-00/8$/05/0095/1/l/2026 Jakarta, 03 Februari 2026
Kepada,
PT Hotel Fitra International Tbk
Jalan KH. Abdul Halim No. 88 RT 005 RW.008
Kelurahan Majalengka Kulon
Kecamatan Majalengka, Kabupaten Maijalengka,
Jawa Barat
U.p. Direksi
Hal Laporan Studi Kelayakan Bisnis Terkait Penambahan Kegiatan
Usaha KBLI 50131 (Angkutan Laut Dalam Negeri untuk Barang
Umum), KBLI 50133 (Angkutan Laut Dalam Negeri untuk
Barang Khusus, KBLI 50141 (Angkutan Laut Luar Negeri untuk
Barang Umum), KBLI 50142 (Angkutan Laut Luar Negeri untuk
Barang Khusus) dan KBLI 64200 (Aktivitas Perusahaan
Holding)
Dengan hormat,
Sehubungan dengan penugasan yang diberkan kepada Kantor Jasa Penilai Publik Edi Andesta dan
Rekan (KPP Andesta/ Kami), oleh manajemen PT Hotel Fitra International Tbk
(Perseroan /FITT)untuk memberikan Pendapat Studi Kela
yakan Bisnis sebagai Penilai lndependen,
sesuai proposal penawaran jasa Studi Kelayakan Bisnis No. 350/P-Andesta8/2025, tanggal 10
Oktober 2025, yang disetujui sebagai surat perintah kerja, maka dengan ini Kami sebagai KPP resmi
berdasarkan Surat ljin Usaha Kantor Jasa Penilai Publik dengan Surat Keputusan Menteri Keuangan
No. 1/KM.1/2022, tanggal 3 Januani 2022, surat izin usaha No 2.09.0053, tanggal 15 Juli 2009 dan
Surat Tanda Terdaftar Profesi Penunjang Pasar Modal dani Otomitas Jasa Keuangan (0JK) No. STTD-
PPB.01/PJ-1/PM.02/2023 (Penilai Properti dan Penilai Usaha) menyampaikan pend.apat atas Studi
elayakan Bisnis terkait Rencana Penambahan Bidang Usaha KBL 50131 (Angkutan Laut Dalam
Negeri untuk Barang Umum), KBL 50133 (Angkutan Laut Dalam Negeri untuk Barang Khusus, KBLl
50141 (Angkutan Laut Luar Neger untuk Barang Umum), KBLI 50142 (Angkutan Laut Luar Negeri
untuk Barang Khusus) dan Aktifitas Perus.ahaan Holding (KBLI 64200)
..10412424l4%20$0.
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I. Pendahuluan
1.1 Latar Belakang
FITT didirikan berdasarkan Akta Notaris No. 34 tanggal 24 Januani 2014 dibuat oleh Notaris
Muhammad Hanafi S.H, Notaris di Jakarta dan telah mendapatkan pengesahan dari Menteri
Hukum dan Hak Asasi Manusia Republik Indonesia dalam Surat Keputusan No. AHU-
0021306.AH.01.09.Tahun 2014 tanggal 12 Maret 2014. Ata perubahan terakhir yaitu Akta No
15 dari Rudy Siswanto S.H., Notaris di Jakarta Utara, tanggal 17 Juli 2024, yang telah diterima
dan dicatat di dalam database Sistem Administrasi Badan Hukum Kementerian Hukum dan
Hak Asasi Manusia Republik Indonesia sebagaimana ternyata dalam Surat enerimaan
Pemberitahuan Perubahan Anggaran Dasar Perusahaan No. AHU-AH.01.03-0175047 tanggal
23 Juli 2024. Modal dasar Perusahaan sebesar Rp200.000.000.000 yang terbagi atas
2.000.000.000 saham dan masing-masing saham berilai nominal sebesar Rp 100 dari modal
dasar tersebut telah ditempatkan dan disetor sebanyak 1.304 272.051 lembar saham dengan
nilai nominal seluruhnya sebesar Rp130.427.205.100. Perusahaan berdomisili di JI. KH. Abdul
Halim No. 88 RT 005 RW. 008, Kelurahan Majalengka Kulon, Kecamatan Majalengka,
Kabupaten Maialengka, Provinsi Jawa Barat. Berdasarkan pasal 3 anggaran dasar, maksud
dan tujuan FITT adalah berusaha dalam bidang konstruksi gedung, berusaha dalam bidang
penyediaan akomodasi, berusaha dalam bidang real estat, berusaha dalam bidang aktivitas
olahraga dan rekreasi lainnya. Untuk mencapai maksud dan tujuan tersebut F[TT dapat
melaksanakan kegitan usaha berikut
a. Kegiatan usaha utama yaitu menjalankan kegiatan hotel bintang lima, menjalankan
kegiatan usaha hotel bintang empat, menjalankan kegiatan usaha hotel bintang tiga,
menjalankan kegiatan usaha hotel bintang dua, menjalankan kegiatan usaha hotel bintang
satu, menjalankan kegiatan usaha hotel melati, menjalank.an kegiatan usaha vila,
menjalankan kegiatan usaha apartemen hotel, menjalank.an kegiatan usaha penyediaan
akomodasi jangka pendek lainnya
b. Kegiatan usaha penunjang yang mendukung kegiatan usaha utama Perseroaan yaitu
menjalankan kegiatan usaha konstruksi gedung penginapan, menjalankan kegiatan usaha
real estat yang dimiliki sendiri atau disewa, menjalankan kegiatan usaha kawasan
parwrs.ata
PT Hotel Fitra International Tbk
2
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te rh a d a p pengem bangan e k o n o m i d a e ra h . B o n g k a r m u a t b a ra n g p e la y a r a n d a la m n e g e ri
d a p a t b e r u p a B a h a n P o k o k , B a h a n S t r a t e g is , M ig a s , N o n m ig a s d a n B a r a n g L a in n y a . D a la m
h a l in i, P S I y a n g m e r u p a k a n p e r u s a h a a n d a la m b id a n g s e k t o r a n g k u t a n la u t y a n g b e r f o k u s
p a d a p e n g a n g k u t a n b ijih n ik e l d a n b a tu k a p u r m e lih a t a d a n y a p e lu a n g a ta s in d u s t r i t r a n s p o r t a s i
la u t u n t u k 2 k o m o d it a s in i.
S e la n ju t n y a d e n g a n m e lih a t p e lu a n g d a n p e r k e m b a n g a n d i s e k t o r a n g k u t a n la u t, P e r s e r o a n
m e m p e r t im b a n g k a n u n t u k m e n g e m b a n g k a n b is n is n y a d i b id a n g ja s a p e n g a n g k u t a n b a r a n g
m e la lu i j a lu r p e la y a r a n d o m e s t ik . S e h u b u n g a n dengan h a l t e r s e b u t d a la m re n c a n a b is n is
ja n g k a p a n ja n g n y a , m a n a je m e n P e r s e r o a n b e r m a k s u d m e n a m b a h k e g ia t a n u s a h a K B L I 5 0 1 3 1
( A n g k u t a n L a u t D a la m N e g e r i u n t u k B a r a n g U m u m ) , K B L I 5 0 1 3 3 ( A n g k u t a n L a u t D a la m N e g e r i
u n tu k B a ra n g K h u s u s ), K B L I 5 0 1 4 1 (A n g k u ta n L a u t L u a r N e g e ri u n tu k B a ra n g U m u m ) d a n
K B L I 5 0 1 4 2 ( A n g k u t a n L a u t L u a r N e g e r i u n t u k B a r a n g K h u s u s ) d e n g a n c a r a m e n g a k u is is i P S I
yang d ih a r a p k a n dapat m e m b e r ik a n k o n t r ib u s i u n tu k m e n in g k a t k a n k in e r ja o p e r a s io n a l
s e h in g g a d a p a t m e n d o r o n g p e r t u m b u h a n P e r s e r o a n .
P S I d id ir ik a n b e r d a s a r k a n A k t a P e n d ir ia n N o . 11 t a n g g a l 2 3 J u n i 2 0 2 3 d ib u a t o le h N o t a r is
A n a s t a s ia C h a n d ra , S . H ., M .K n ., N o t a r is d i K a b u p a te n T a n g e ra n g . A k ta te rs e b u t s u d a h
m e n d a p a t k a n p e r s e t u ju a n d a r i M e n te r i H u k u m d a n H a k A s a s i M a n u s ia R e p u b lik In d o n e s ia
b e rd a s a rk a n S u r a t K e p u tu s a n M e n te r i H u k u m d a n H a k A s a s i M a n u s ia R e p u b lik In d o n e s ia
N o m o r A H U -0 0 4 6 6 7 7 .A H .0 1 .0 1 .T a h u n 2 0 2 3 te n ta n g P engesahan P e n d ir ia n Badan H ukum
P e r s e r o a n T e r b a t a s P S I. M a k s u d d a n t u ju a n s e r t a k e g ia t a n u s a h a P S I t e r c a n t u m d a la m A k t a
N o . 11 t a n g g a l 2 3 J u n i 2 0 2 3 y a it u b e r u s a h a d a la m b id a n g :
a. A n g k u t a n L a u t D a la m N e g e r i u n t u k B a r a n g U m u m ( K B L I 5 0 1 3 1 )
b. A n g k u t a n L a u t D a la m N e g e r i u n t u k B a r a n g K h u s u s ( K B L I 5 0 1 3 3 )
c. A n g k u ta n L a u t L u a r N e g e ri u n tu k B a ra n g U m u m (K B L I 5 0 1 4 1 )
d. A n g k u ta n L a u t L u a r N e g e ri u n tu k B a ra n g K h u s u s (K B L I 5 0 1 4 2 )
U n t u k m e n c a p a i m a k s u d d a n t u ju a n t e r s e b u t d ia t a s P S I d a p a t m e la k s a n a k a n k e g ia t a n u s a h a
s e b a g a i b e r ik u t :
a. A n g k u t a n L a u t D a la m N e g e r i u n t u k B a r a n g U m u m ( K B L I 5 0 1 3 1 )
K e lo m p o k in i m encakup usaha p e n g a n g k u ta n b a ra n g um um m e la lu i la u t dengan
m e n g g u n a k a n k a p a l la u t a n t a r p e la b u h a n d a la m n e g e r i d e n g a n m e la y a r i t r a y e k s e c a r a
te ta p dan t e r a t u r ( lin e r ) d e n g a n b e r ja d w a l, a ta u tra y e k t id a k te ta p dan t id a k t e r a t u r
( t r a m p e r ) . T e r m a s u k u s a h a p e r s e w a a n a n g k u t a n la u t b e r ik u t o p e r a t o r n y a .
P T H o te l F itr a In te r n a t io n a l T b k
Studi Kelayakan Bisnis Terkai Penambahan KBLI 4
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b. A n g k u t a n L a u t D a la m N e g e r i u n t u k B a r a n g K h u s u s ( K B L I 5 0 1 3 3 )
K e lo m p o k in i m e n c a k u p u s a h a p e n g a n g k u t a n b a r a n g d e n g a n m e n g g u n a k a n k a p a l la u t
y a n g d ir a n c a n g s e c a r a k h u s u s u n t u k m e n g a n g k u t s u a t u je n is b a r a n g t e r t e n t u , s e p e r t i
a n g k u t a n b a r a n g b e r b a h a y a , lim b a h b a h a n b e r b a h a y a d a n b e r a c u n , b a h a n b a k a r m in y a k ,
m in y a k b u m i, h a s il o la h a n , L P G , L N G d a n C N G , ik a n d a n s e je n is n y a . T e r m a s u k u s a h a
p e r s e w a a n a n g k u ta n la u t b e r ik u t o p e r a t o m y a .
c. A n g k u ta n L a u t L u a r N e g e ri u n tu k B a ra n g U m u m (K B L I 5 0 1 4 1 )
K e lo m p o k in i m e n c a k u p u s a h a p e n g a n g k u t a n b a r a n g m e la lu i la u t d e n g a n m e n g g u n a k a n
k a p a l la u t a n t a r p e la b u h a n d i I n d o n e s ia d e n g a n p e la b u h a n d i lu a r n e g e r i d e n g a n m e la y a r i
t r a y e k s e c a r a t e t a p d a n t e r a t u r ( lin e r ) d e n g a n b e r ja d w a l, a ta u t r a y e k t id a k t e t a p d a n t id a k
t e r a t u r ( t r a m p e r ) . T e r m a s u k u s a h a p e r s e w a a n a n g k u t a n la u t b e r ik u t o p e r a t o m y a .
d. A n g k u ta n L a u t L u a r N e g e ri u n tu k B a ra n g K h u s u s (K B L I 5 0 1 4 2 )
K e lo m p o k in i m encakup usaha a n g k u ta n la u t in t e r n a s io n a l u n tu k b a ra n g khusus,
c o n t o h n y a a n g k u t a n b a r a n g b e r b a h a y a , lim b a h b a h a n b e r b a h a y a d a n b e r a c u n , t e r m a s u k
ik a n dan s e je n is n y a . A n g k u t a n la u t k h u s u s d e n g a n m enggunakan k a p a l b e rb e n d e ra
I n d o n e s ia d e n g a n k o n d is i d a n p e r s y a r a t a n k a p a ln y a d is e s u a ik a n d e n g a n je n is k e g ia t a n
u s a h a p o k o k n y a s e r t a u n t u k m e la y a n i t r a y e k t id a k t e t a p d a n t id a k t e r a t u r a ta u t r a m p e r
a n t a r p e la b u h a n di In d o n e s ia dengan p e la b u h a n di lu a r n e g e r i. T e rm a s u k usaha
p e r s e w a a n a n g k u ta n la u t b e r ik u t o p e r a t o m y a .
D e n g a n r e n c a n a p e n a m b a h a n k e g ia t a n u s a h a p a d a P e r s e r o a n d ia t a s s e s u a i P a s a l 3 1 , P O J K
N o . 1 7 / P O J K . 0 4 / 2 0 2 0 , m a k a a ta s r e n c a n a t e r s e b u t P e r s e r o a n m e m e r lu k a n a d a n y a L a p o r a n
S tu d i K e la y a k a n B is n is yang d is u s u n dan d it e r b it k a n o le h K a n to r Jasa P e n ila i P u b lik
I n d e p e n d e n d e n g a n k la s if ik a s i P e n ila i B is n is . U n t u k p e n y u s u n a n L a p o r a n S t u d i K e la y a k a n
B is n is in i, P e r s e r o a n t e la h m e n u n ju k K J P P A n d e s t a s e s u a i p e n u g a s a n d e n g a n k e s e p a k a t a n
y a n g te la h d it u a n g k a n d a la m S u r a t P r o p o s a l P e n a w a r a n R e f: 3 5 0 / P - A n d e s t a / X / 2 0 2 5 , t a n g g a l
lO O k t o b e r 2 0 2 5 .
1.2 P e n ila i
P e n ila i a d a la h p a r t n e r d a r i K J P P A n d e s t a d e n g a n k u a lifik a s i s e b a g a i b e r i k u t :
N a m a P e n ila i : Ir. E d i A n d e s t a , M a p p i ( C e r t . )
N o Iz in P e n ila i : P B - 1 .0 9 . 0 0 0 9 5
N o . S T T D P e n u n ja n g P a s a r M o d a l : S T T D .P B B -0 1 /P M .2 /2 0 1 8
No. M A P P I : 9 4 -S -0 4 1 1
K la s if ik a s i Iz in : P e n ila i P r o p e r t i d a n B is n is
P T H o te l F itr a In te r n a tio n a l T b k
Studi Kelayakan Bisnis Terkai Penambahan KBLI 5
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K J P P A n d e s t a d a la m p o s is i u n t u k m e m b e r ik a n p e n ila ia n o b je k t if d a n t id a k m e m ih a k . P e n ila i
t id a k ada k e t e r lib a t a n m a t e r ia l a ta u b e n tu ra n k e p e n t in g a n b a ik a k tu a l m aupun b e r s if a t
p o t e n s ia l dengan s u b je k dan a ta u o b je k p e n ila ia n . P e n ila i m e m ilik i k o m p e te n s i u n tu k
m e la k u k a n s t u d i k e la y a k a n . P e n ila i d a p a t m e n g g u n a k a n a ta u t id a k m e n g g u n a k a n t e n a g a a h li
a ta u p e n ila i la in d i lu a r K J P P A n d e s t a s e s u a i d e n g a n k e b u t u h a n p e n u g a s a n d e n g a n s e iz in d a r i
P e m b e ri T u g a s .
D a la m m e n ja la n k a n tu g a s p r o f e s in y a , ta n g g u n g ja w a b P e n ila i sebagai in d iv id u h a ru s
d ip is a h k a n d a r i P e n ila i s e b a g a i K a n t o r J a s a P e n ila i P u b lik ( K J P P ) . S e h in g g a t a n g g u n g ja w a b
P e n ila i s e b a g a i in d iv id u t id a k m e n ja d i t a n g g u n g ja w a b K J P P s e c a r a k e s e lu r u h a n (S P I E d is i
V II 2 0 1 8 , K E P I b u t ir 5 .8 . 8 .3 ) .
1.3 P e m b e ri T u g a s
N a m a P e ru s a h a a n P T H o te l F itr a I n t e r n a t io n a l T b k
J e n is U s a h a I n d u s t r i P e n g e lo la a n H o te l d a n P a r iw is a t a
A la m a t J a la n KH. Abdul H a lim No. 88 RT. 005 RW . 008, K e lu r a h a n
M a ja le n g k a K u lo n , K e c a m a t a n M a ja le n g k a , K a b u p a t e n M a ja le n g k a ,
P r o v in s i J a w a B a r a t
N o . T e lp : 0233 - 8292 888
E m a il : c o r s e c . h o t e lf it r a @ g m a il. c o m
W e b s it e : w w w . f it r a t b k . c o . id
1 .4 P e n g g u n a L a p o ra n
N a m a P e ru s a h a a n : P T H o te l F itr a I n t e r n a t io n a l T b k
J e n is U s a h a : I n d u s t r i P e n g e lo la a n H o te l d a n P a r iw is a t a
A la m a t : J a la n KH. Abdul H a lim No. 88 RT. 005 RW . 008, K e lu r a h a n
M a ja le n g k a K u lo n , K e c a m a t a n M a ja le n g k a , K a b u p a t e n M a ja le n g k a ,
P r o v in s i J a w a B a r a t
N o . T e lp : 0 2 3 3 -8 2 9 2 888
E m a il : c o r s e c . h o t e lf it r a @ g m a il. c o m
W e b s it e : w w w . f it r a t b k . c o . id
1 .5 O b je k S tu d i K e la y a k a n B is n is
O byek S tu d i K e la y a k a n B is n is a d a la h : Penam bahan b id a n g usaha d a la m KBLI 50131
(A n g k u ta n L a u t D a la m N e g e ri u n tu k B a ra n g U m u m ), K B L I 5 0 1 3 3 (A n g k u ta n L a u t D a la m
N e g e ri u n tu k B a ra n g K h u s u s , K B L I 5 0 1 4 1 (A n g k u ta n L a u t L u a r N e g e ri u n tu k B a ra n g U m u m ),
K B L I 5 0 1 4 2 (A n g k u ta n L a u t L u a r N e g e ri u n tu k B a ra n g K h u s u s ) d a n A k t if it a s P e r u s a h a a n
H o ld in g ( K B L I 6 4 2 0 0 ) d a la m b id a n g u s a h a n y a .
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K J P P Edi A n d e s ta d an R e k a n
1 .6 M a ta U a n g y a n g d ig u n a k a n
M a t a u a n g y a n g d ig u n a k a n d a la m p e n ila ia n in i a d a la h m a t a u a n g R u p i a h ( R p . ) .
1 .7 M a k s u d d a n T u ju a n
M aksud dan t u ju a n d a ri p e n u g a s a n S t u d i K e la y a k a n B is n is in i a d a la h u n tu k m e n g e ta h u i
k e la y a k a n d a r i p e n a m b a h a n b id a n g u s a h a d a la m K B L I 5 0 1 3 1 ( A n g k u t a n L a u t D a la m N e g e r i
u n t u k B a r a n g U m u m ) , K B L I 5 0 1 3 3 ( A n g k u t a n L a u t D a la m N e g e r i u n t u k B a r a n g K h u s u s , K B L I
5 0 1 4 1 (A n g k u ta n L a u t L u a r N e g e ri u n tu k B a ra n g U m u m ), K B L I 5 0 1 4 2 (A n g k u ta n L a u t L u a r
N e g e r i u n t u k B a r a n g K h u s u s ) d a n A k t if it a s P e r u s a h a a n H o ld in g ( K B L I 6 4 2 0 0 ) d a la m b id a n g
u s a h a n y a d e n g a n m e n g a k u is is i P S I. S t u d i K e la y a k a n B is n is in i h a n y a d a p a t d ig u n a k a n o le h
p ih a k m a n a je m e n F I T T d a n t id a k d a p a t d ig u n a k a n u n t u k k e p e n t in g a n p ih a k k e tig a .
1.8 M e to d e P e n y u s u n a n L a p o ra n S tu d i K e la y a k a n
a. M e la k u k a n p e n g u m p u la n d a ta .
b. M e la k u k a n id e n t if ik a s i d a n a n ilis is t e r h a d a p d a t a y a n g d it e r im a .
c. M e la k u k a n w a w a n c a r a d e n g a n p ih a k m a n a je m e n F I T T d a n P S I u n t u k m e n g e t a h u i d e t a il
t e n t a n g b is n is y a n g d ija la n k a n d a n p r o s e s r e n c a n a b is n is k e d e p a n .
d. M e la k u k a n a n a lis a S t u d y K e la y a k a n d e n g a n m e n g g u n a k a n m e t o d e y a n g r e le v a n a ta s
a n a lis a y a n g d ila k u k a n .
e. S tu d i m e lip u t i:
1) M e la k u k a n a n a lis a k e la y a k a n p a s a r m e lip u ti:
• K o n d is i p a s a r , s e p e r t i p a n g s a p a s a r , k e s in a m b u n g a n , d a n p o t e n s i p a s a r
• P e s a in g u s a h a
• S tra te g i P e m a s a ra n
2) M e la k u k a n a n a lis a k e la y a k a n t e k n is m e lip u ti:
• K a p a s it a s
• K e t e r s e d ia a n d a n k u a lit a s s u m b e r d a y a p e k e r ja d a n a h li p r o f e s s io n a l
• P r o s e s o p e r a s i/ p r o s e s b is n is
3) M e la k u k a n a n a lis a k e la y a k a n p o la b is n is m e lip u ti:
• K e u n g u la n k o m p e t it if k a r e n a k e u n ik a n d a r i p o la b is n is
• Kemampuan pesaing untuk meniru produk
• K e m a m p u a n u n t u k m e n c ip t a k a n n ila i
4) M e la k u k a n a n a lis a k e la y a k a n m o d e l m a n a je m e n m e lip u ti:
• K e t e r s e d ia a n t e n a g a k e r ja
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• M a n a je m e n k e k a y a a n in t e le k t u a l
• M a n a je m e n R e s ik o
• K a p a s it a s d a n k e m a m p u a n m a n a je m e n
• K e s e s u ia n s t r u k t u r o r g a n is a s i d a n m a n a je m e n
5) M e la k u k a n a n a lis a k e la y a k a n k e u a n g a n m e lip u ti:
• B ia y a in v e s t a s i
• M o d a l k e r ja
• S u m b e r p e m b ia y a a n
• S tru k tu r p e n d a p a ta n
• B ia y a o p e r a s io n a l
• B eban usaha
• P r o y e k s i la p o r a n k e u a n g a n
• A n a lis is p r o f it a b ilit a s
• T in g k a t im b a la n b a lik in v e s t a s i
1.9 T a n g g a l S tu d i K e la y a k a n B is n is
T a n g g a l e f e k t if s t u d i k e la y a k a n b is n is (cut o ff date) a d a la h t a n g g a l d im a n a h a s il n ila i d it e t a p k a n
d e n g a n k o n d is i d a n s y a r a t - s y a r a t y a n g d ib e r la k u k a n . D a la m L a p o r a n s t u d i k e la y a k a n b is n is in i
m a k a k e la y a k a n d ip e r h it u n g k a n p a d a t a n g g a l 3 0 S e p t e m b e r 2 0 2 5 . T a n g g a l in i s e s u a i la p o r a n
k e u a n g a n t e r a k h ir y a n g t e r s e d ia d a n d a p a t d ip e r o le h d a n d it e r im a p e n ila i s e b a g a i d a s a r u n t u k
m e la k u k a n s t u d i k e la y a k a n , y a it u la p o r a n k e u a n g a n p e r 3 0 S e p t e m b e r 2 0 2 5 (Audited).
1 .1 0 S ifa t d a n S u m b e r In fo rm a s i
D a t a - d a t a o b je k S t u d i K e la y a k a n b e r a s a l d a r i p ih a k p e m b e r i t u g a s , s e d a n g k a n d a ta -d a ta
p r im e r b e r s u m b e r d a r i h a s il s u r v e i la p a n g a n d a n d a t a - d a t a s e k u n d e r b a r a s a l d a r i h a s il ris e t,
in f o r m a s i y a n g d ip u b lik a s ik a n d a n m a u p u n b e r a s a l d a r i in t a n s i p e m e r in t a h . T e r h a d a p d a t a -
d a t a p r im e r p e n ila i m e la k u k a n v e r if ik a s i d a n v a lid a s i a ta s d a t a - d a t a y a n g d ig u n a k a n , s e h in g g a
a k u r a s i h a s il S t u d y K e la y a k a n d a p a t d ip e r t a n g g u n g ja w a b k a n .
1.11 A su m si dan A sum si K husus
a. A sum si Khusus
P e rb e d a a n k o n d is i yang m u n g k in t e r ja d i a n ta ra ta n g g a l p e n ila ia n dengan w a k tu
penggunaan h a s il s t u d i k e la y a k a n d a p a t m e n u ru n k a n r e le v a n s i o p in i n ila i t e r h a d a p
k e b u t u h a n p e n g g u n a h a s il s t u d i k e la y a k a n , d ik a r e n a k a n a d a n y a p e r b e d a a n a k s e s d a t a
d a n in f o r m a s i s e r t a a s u m s i d a n a n a lis is s t u d i k e la y a k a n . A p a b ila p e n g g u n a h a s il s t u d i
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k e la y a k a n m enem ukan k o n d is i te rs e b u t, d is a r a n k a n u n tu k m enugaskan P e n ila i
m e la k u k a n r e v ie w te rh a d a p penugasan yang t e la h d ila k s a n a k a n dan a p a b ila
d im u n g k in k a n d a n d ib u t u h k a n , P e n ila i d a p a t m e la k u k a n s t u d i k e la y a k a n u la n g d e n g a n
m e n g u la n g k e m b a li p r o s e d u r s t u d i k e la y a k a n y a n g s e b e lu m n y a d ila k u k a n , s e c a r a le b ih
le n g k a p . P r o s e s d a n p r o s e d u r t e r s e b u t h a r u s d it u a n g k a n d a la m p e n u g a s a n y a n g b e r d ir i
s e n d ir i d a n b e r b e d a d e n g a n p e n u g a s a n s t u d i k e la y a k a n s e b e lu m n y a .
b. A sum si Um um
1) K a m i t id a k m e n e r im a / m e m in t a im b a la n a ta u s e je n is n y a s e la in im b a la n ja s a s t u d i
k e la y a k a n yang te la h d is e p a k a t i d a la m p ro p o s a l p e n a w a ra n in i d e n g a n a la s a n
a p a p u n . B ila t e r ja d i p e m b e r ia n im b a la n d i l u a r f e e s t u d i k e la y a k a n d a n m e m p e n g a r u h i
h a s il s t u d i k e la y a k a n , m a k a b u k a n m e n ja d i t a n g g u n g ja w a b K J P P , m e la in k a n a d a la h
t a n g g u n g ja w a b p e m b e r i im b a la n / P e m b e r i T u g a s .
2) S e m u a f o t o c o p y d o k u m e n y a n g d ib e r ik a n a ta u d ip e r lih a t k a n o le h p e m b e ri tu g a s
k e p a d a k a m i d a la m r a n g k a s t u d i k e la y a k a n in i, k a m i a n g g a p a d a la h s a h , b e n a r
sesuai dengan k e n y a t a a n y a n g s e b e n a r n y a d a n jik a in i d a la m ra n g k a p e r ik a t a n ,
keabsahan dokum en akan d ip e r ik s a o le h p r o fe s i p e n u n ja n g la in a ta u yang
b e r w e n a n g u n t u k t u g a s t e r s e b u t.
3) K a m i b e r a s u m s i b a h w a s tu d i k e la y a k a n in i t id a k s e d a n g d ila k u k a n s t u d i k e la y a k a n
o le h K J P P la in . J ik a d a la m k o n d is i s t u d i k e la y a k a n in i s e d a n g d ila k u k a n o le h K J P P
la in , m a k a la p o r a n k a m i t id a k b e r la k u .
1 .1 2 P e rs y a ra ta n a ta s P e r s e tu ju a n u n tu k P u b lik a s i
D ila r a n g m e n y e b a r lu a s k a n p e r n y a t a a n a ta u la p o r a n S tu d i K e la y a k a n B is n is in i b a ik s e c a r a
k e s e lu r u h a n , s e b a g ia n , a ta u s e b a g a i r e f e r e n s i, n ila i y a n g t e r d a p a t d id a la m n y a , m a u p u n n a m a
d a n a filia s i t e n a g a a h li d a r i p e n ila i, t a n p a p e r s e t u ju a n t e r t u lis d a r i K J P P A n d e s t a .
1 .1 3 B a ta s a n a ta u P e n g e c u a lia n a ta s T a n g g u n g J a w a b K e p a d a P ih a k S e la in
P e m b e ri T u g a s
P e n ila i t id a k m e m ilik i t a n g g u n g ja w a b k e p a d a p ih a k k e tig a , s e la m a t id a k m e n y im p a n g d a ri
p e r a t u r a n d a n h u k u m y a n g b e r la k u .
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1 .1 4 P e r n y a ta a n T e r tu lis d a ri P e m b e ri T u g a s m e n g e n a i K e b e n a ra n d a n S ifa t
In fo r m a s i y a n g D ib e rik a n
B a h w a d a la m p e n u g a s a n in i s e lu r u h in f o r m a s i y a n g d ib e r ik a n k e p a d a k a m i a d a la h benar
sesuai S u ra t P e rn y a ta a n (m a n a g e m e n t representation letter) P e m b e ri T u g a s , m engenai
s e lu r u h in f o r m a s i p e n t in g d a n r e le v a n b e r k e n a a n d a n s e p a n ja n g p e n g e t a h u a n P e m b e r i T u g a s
t id a k a d a f a k t o r m a t e r ia l y a n g b e lu m d iu n g k a p k a n d a n m e n y e s a t k a n .
1 .1 5 K o n d is i - K o n d is i P e m b a ta s
a. K a m i s e b a g a i P e n ila i t id a k m e la k u k a n p e n e lit ia n t e r h a d a p k e a b s a h a n d o k u m e n - d o k u m e n
yang t e r k a it , o le h k a re n a n y a kam i t id a k m e n ja m in k e b e n a ra n a ta u keabsahannya
in f o r m a s i, p e r k ir a a n d a n p e n d a p a t y a n g k a m i p e r o le h d a r i b e r b a g a i s u m b e r , k a m i a n g g a p
m e ru p a k a n in f o r m a s i y a n g d a p a t d ip e r c a y a k e b e n a r a n n y a , o le h k a r e n a n y a k a m i t id a k
m e la k u k a n p e n g e c e k a n le b ih la n ju t. B ila m a n a d ik e m u d ia n h a r i d ik e t a h u i a d a in f o r m a s i
yang t id a k benar yang d ib e r ik a n kepada k a m i, m aka kam i t id a k dapat d im in t a
p e r ta n g g u n g ja w a b a n n y a .
b. L a p o r a n h a r u s d ig u n a k a n s e c a r a k e s e lu r u h a n y a n g t a k t e r p is a h k a n d a n p e n g g u n a a n n y a
t e r b a t a s p a d a m a k s u d d a n t u ju a n S t u d i K e la y a k a n B is n is in i s a ja . L a p o r a n in i t id a k a k a n
b e r la k u u n t u k m a k s u d d a n t u ju a n b e r b e d a .
c. P e n ila i d ib e b a s k a n d a ri s e g a la tu n tu ta n dan k e w a jib a n yang b e r k a it a n dengan
p e n g g u n a a n la p o r a n y a n g t id a k s e s u a i d e n g a n m a k s u d d a n t u ju a n d a r i la p o r a n .
d. L a p o ra n S t u d i K e la y a k a n B is n is y a n g d ih a s ilk a n d a ri p e n u g a s a n in i, b a ik s e lu r u h n y a
m a u p u n s e b a g ia n , t id a k d ip e r k e n a n k a n u n t u k d ip u b lik a s ik a n , ju g a t id a k d a la m b e n tu k
r e f e r e n s i a p a p u n , t e r m a s u k r e f e r e n s i m e n g e n a i la p o r a n k e u a n g a n p e r u s a h a a n , d a n a ta u
p e rn y a ta a n a ta u S t u d i K e la y a k a n B is n is la in n y a a ta u p e r n y a ta a n /e d a ra n apapun d a ri
p e r u s a h a a n , t a n p a p e r s e t u ju a n p e n ila i.
e. K a m i, K J P P A n d e s t a t id a k a k a n m e m b e r ik a n ja m in a n m e n g e n a i d a p a t d ic a p a in y a h a s il
y a n g d ip r o y e k s ik a n o le h m a n a je m e n P S I d a n F IT T , k a r e n a k e ja d ia n d a n k o n d is i s e r in g k a li
t id a k t e r ja d i s e p e r t i y a n g d ih a r a p k a n ; p e rb e d a a n a n ta ra h a s il a k tu a l d a n h a s il y a n g
d ih a r a p k a n b is a b e r s if a t m a t e r ia l d a n p e n c a p a ia n d a r i h a s il y a n g d i p r o y e k s ik a n a k a n
t e r g a n t u n g k e p a d a t in d a k a n , r e n c a n a d a n a s u m s i d a r i M a n a je m e n P S I d a n F IT T .
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II. G a m b a r a n P e r s e r o a n & D a t a In f o r m a s i
2.1 In fo r m a s i K e u a n g a n d a n In fo rm a s i L a in n y a
a. D a ta K e u a n g a n P e r s e ro a n
1) L a p o r a n K e u a n g a n A u d it F I T T p e r io d e 31 D e s e m b e r 2 0 2 1 d e n g a n p e n d a p a t o p in i
w a ja r d a la m s e m u a h a l y a n g m a t e r ia l o le h K A P D r a S u h a r t a t i & R e k a n ;
2) L a p o r a n K e u a n g a n A u d it F I T T p e r io d e 31 D e s e m b e r 2 0 2 2 d e n g a n p e n d a p a t o p in i
w a ja r d a la m s e m u a h a l y a n g m a t e r ia l o le h K A P D r a S u h a r t a t i & R e k a n ;
3) L a p o r a n K e u a n g a n A u d it F I T T p e r io d e 31 D e s e m b e r 2 0 2 3 d e n g a n p e n d a p a t o p in i
w a ja r d a la m s e m u a h a l y a n g m a t e r ia l o le h K A P D r a S u h a r t a t i & R e k a n ;
4) L a p o r a n K e u a n g a n A u d it F I T T p e r io d e 31 D e s e m b e r 2 0 2 4 d e n g a n p e n d a p a t o p in i
w a ja r d a la m s e m u a h a l y a n g m a t e r ia l o le h K A P D r a S u h a r t a t i & R e k a n ;
5) L a p o r a n K e u a n g a n A u d it F I T T p e r io d e 3 0 S e p t e m b e r 2 0 2 5 d e n g a n p e n d a p a t o p in i
w a ja r d a la m s e m u a h a l y a n g m a t e r ia l o le h K A P D r a S u h a r t a t i & R e k a n ;
6) L a p o r a n K e u a n g a n A u d it P S I p e r io d e 3 0 S e p t e m b e r 2 0 2 5 d e n g a n p e n d a p a t o p in i
w a ja r d a la m sem ua hal yang m a t e r ia l o le h KAP H e n d r a w in a t a Hanny E r w in &
S u m a rg o ;
b. D a ta d a n In fo r m a s i L a in n y a
1) W a w a n c a ra d a n d is k u s i d e n g a n m a n a je m e n P e m b e ri T u g a s s e h u b u n g a n dengan
p e n u g a s a n s t u d i k e la y a k a n b is n is d a la m r a n g k a m e m p e r o le h in f o r m a s i y a n g r e le v a n
y a n g d iw a k ili o le h Ib u G u o J in g jin g s e b a g a i M a n a je r K e u a n g a n ;
2) P ro s p e k tu s P e rs e ro a n ;
3) w w w . b i. q o . id ;
4) P r o y e k s i k e u a n g a n t e r k a it P r o y e k s i k e u a n g a n t e r k a it p e n a m b a h a n K B L I O k t o b e r
s .d D e s e m b e r 2 0 2 5 - 2 0 3 0 y a n g d is e d ia k a n o le h m a n a je m e n P e r s e r o a n ;
5) W e b s it e B a n k In d o n e s ia ;
6) W e b s it e B P S ;
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2 .2 P ro fil P T H o te l F itra In te r n a tio n a l T b k
F I T T d id ir ik a n b e r d a s a r k a n A k t a N o t a r is N o . 3 4 t a n g g a l 2 4 J a n u a r i 2 0 1 4 d ib u a t o le h N o t a r is
M u h a m m a d H a n a fi S .H , N o t a r is d i J a k a r t a d a n t e la h m e n d a p a t k a n p e n g e s a h a n d a r i M e n te r i
H ukum dan H ak A sasi M a n u s ia R e p u b lik I n d o n e s ia d a la m S u ra t K e p u tu s a n No. AHU-
0 0 2 1 3 0 6 . A H . 0 1 ,0 9 . T a h u n 2 0 1 4 t a n g g a l 1 2 M a r e t 2 0 1 4 . A k t a p e r u b a h a n t e r a k h ir y a itu A k t a N o .
1 5 d a r i R u d y S is w a n t o S . H . , N o t a r is d i J a k a r t a U ta r a , t a n g g a l 1 7 J u li 2 0 2 4 , y a n g te la h d it e r im a
d a n d ic a t a t d i d a la m d a t a b a s e S is t e m A d m in is t r a s i B a d a n H u k u m K e m e n t e r ia n H u k u m d a n
H ak A sasi M a n u s ia R e p u b lik I n d o n e s ia s e b a g a im a n a te rn y a ta d a la m S u r a t P e n e r im a a n
P e m b e r it a h u a n P e r u b a h a n A n g g a r a n D a s a r P e r u s a h a a n N o . A H U - A H . 0 1 . 0 3 - 0 1 7 5 0 4 7 t a n g g a l
23 J u li 2024. M odal dasar P e ru s a h a a n sebesar R p 2 0 0 .0 0 0 .0 0 0 .0 0 0 yang te r b a g i a ta s
2 . 0 0 0 . 0 0 0 . 0 0 0 s a h a m d a n m a s in g - m a s in g s a h a m b e r n ila i n o m in a l s e b e s a r R p 1 0 0 d a r i m o d a l
d a s a r t e r s e b u t te la h d it e m p a t k a n d a n d is e t o r s e b a n y a k 1 .3 0 4 . 2 7 2 . 0 5 1 le m b a r s a h a m d e n g a n
n ila i n o m in a l s e lu r u h n y a s e b e s a r R p 1 3 0 . 4 2 7 . 2 0 5 . 1 0 0 . P e r u s a h a a n b e r d o m is ili d i J l. K H . A b d u l
H a lim No. 88 RT. 005 RW . 008, K e lu r a h a n M a ja le n g k a K u lo n , K e c a m a ta n M a ja le n g k a ,
K a b u p a t e n M a ja le n g k a , P r o v in s i J a w a B a r a t.
V i s i M is i F I T T
V i s i : M e n ja d ik a n P e r s e r o a n s e b a g a i p e r u s a h a a n m a n a je m e n p e r h o t e la n y a n g k o m p e t e n d i
I n d o n e s ia , d e n g a n p r in s ip u t a m a m e m b e r ik a n p e la y a n a n y a n g t e r b a ik u n t u k t a m u d e n g a n
h a r g a y a n g t e r ja n g k a u .
M is i:
a. M e n ja d ik a n P e r s e r o a n s e b a g a i p e lo p o r d a n p a n u ta n h o te l b e r b in t a n g d i k e la s n y a .
b. H a r g a y a n g b e r s a in g d a n t e r ja n g k a u , s e h in g g a d a p a t d in ik m a t i o le h s e t ia p g o lo n g a n .
c. B e rs a m a -s a m a dengan p e m e r in t a h b e r te k a d u n tu k m e m a ju k a n p a r iw is a t a lo c a l dan
m e n c ip t a k a n p e r t u m b u h a n e k o n o m i.
d. S D M y a n g b e r b a k a t , k r e a tif, in o v a t if d a n b e r t u m b u h B e r s a m a .
F I T T m e r u p a k a n p e r u s a h a a n in d u k d a r i 2 a n a k p e r u s a h a a n y a itu
a. P T . B u m i M a ja le n g k a P e r m a i (“ B M P ” ) y a n g b e r f o k u s t e r h a d a p P e n g e lo la a n M a n a g e m e n t
H o te l.
b. PT. Fitra Amanah Wisata (“FAW") yang berfokus terhadap Wisata Religi Manasik Umrah
dan Haji Travel.
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2 .3 P ro d u k d a n L a y a n a n
K e g ia t a n usaha yang d ija la n k a n P e rs e ro a n b e rd a s a rk a n p a s a l 3 a n g g a ra n d a s a r a d a la h
b e r u s a h a d a la m b id a n g k o n s t r u k s i g e d u n g , b e r u s a h a d a la m b id a n g p e n y e d ia a n a k o m o d a s i,
b e r u s a h a d a la m b id a n g r e a l e s ta t , b e r u s a h a d a la m b id a n g a k t iv it a s o la h r a g a d a n r e k r e a s i
la in n y a . U n t u k m e n c a p a i m a k s u d d a n t u ju a n t e r s e b u t P e r s e r o a a n d a p a t m e la k s a n a k a n k e g ita n
u s a h a b e r ik u t:
a. K e g ia t a n usaha u ta m a y a itu m e n ja la n k a n k e g ia t a n h o te l b in t a n g lim a , m e n ja la n k a n
k e g ia t a n usaha h o te l b in t a n g e m p a t, m e n ja la n k a n k e g ia t a n usaha h o te l b in t a n g tig a ,
m e n ja la n k a n k e g ia t a n u s a h a h o te l b in t a n g d u a , m e n ja la n k a n k e g ia t a n u s a h a h o te l b in t a n g
s a tu , m e n ja la n k a n k e g ia t a n u s a h a h o te l b in t a n g m e la t i, m e n ja la n k a n k e g ia t a n u s a h a v ila ,
m e n ja la n k a n k e g ia t a n u s a h a a p a r t e m e n h o te l, m e n ja la n k a n k e g ia t a n u s a h a p e n y e d ia a n
a k o m o d a s i ja n g k a p e n d e k la in n y a .
b. K e g ia t a n u s a h a p e n u n ja n g yang m endukung k e g ia t a n u s a h a u ta m a P e rs e ro a a n y a itu
m e n ja la n k a n k e g ia t a n u s a h a k o n s t r u k s i g e d u n g p e n g in a p a n , m e n ja la n k a n k e g ia t a n u s a h a
re a l e s ta t yang d im ilik i s e n d ir i a ta u d is e w a , m e n ja la n k a n k e g ia t a n usaha kaw asan
p a r iw is a t a .
K e g ia t a n U saha F IT T d ija la n k a n o le h 2 anak p e ru s a h a a n y a itu BMP dan FAW dengan
r in g k a s a n s e b a g a i b e r ik u t :
a. B M P m e n g e lo la h o te l b in t a n g 3 F it r a H o te l M a ja le n g k a , t e r d ir i d a r i 3 la n t a i d e n g a n to ta l
1 1 3 k a m a r . J e n is k a m a r d i F it r a H o te l M a ja le n g k a y a itu E x e c u t iv e D e lu x e R o o m d e n g a n
lu a s 2 5 m 2, F it r a S u ite d e n g a n lu a s 2 8 m 2 d a n S u p e r io r d e n g a n lu a s 1 8 m 2 . F a s ilit a s la in n y a
y a it u 3 ru a n g m e e tin g b e r k a p a s it a s 100 seat, a re a p a r k ir s e r t a lounge & restaurant
b e r k a p a s it a s 8 0 p a x . S e la in itu , F itr a H o te l m e r u p a k a n p e lo p o r d a n s a t u - s a t u n y a H o te l d i
M a ja le n g k a y a n g m e n y e d ia k a n f a s ilit a s k id s c lu b le n g k a p d e n g a n p la y g r o u n d in d o o r y a n g
a m a n d a n m e n y e n a n g k a n u n tu k a n a k -a n a k .
K e u n g g u la n d a r i F it r a H o te l d ia n t a r a n y a d a r i s e g i a k s e s ib ilit a s s e b a g a i b e r i k u t :
1) 5 M e n it W a k t u T e m p u h J a la n K a k i k e M a s jid , Is la m ic C e n t r e M a ja le n g k a , d a n A lu n -
a lu n K o ta .
2) 5 M e n it W a k t u T e m p u h K e n d a r a a n k e U n iv e r s it a s d a n P u s a t P e m e r in t a h a n D a e r a h
M a ja le n g k a .
3) 1 0 M e n it W a k t u T e m p u h K e n d a r a a n k e P u s a t P e r b e la n ja a n , d a n s a la h s a tu t u ju a n
w is a t a d a n o la h r a g a p a r a la y a n g .
4) A k s e s T o l C is u m d a w u k e a r a h B a n d u n g • A k s e s T o l C ip a li k e a r a h J a k a r ta .
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5) ± 2 0 M e n it B a n d a r a K e r ta ja t i d a n
6) ± 5 0 M e n it P e la b u h a n C ir e b o n .
b. FAW m e ru p a k a n p e ru s a h a a n yang b e r lu m b e ro p e ra s i s e c a ra k o m e r s ia l d e n g a n iz in
k e g ia t a n u s a h a y a it u w is a t a r e lig i d a n t o u r t r a v e l h a ji s e la in itu u s a h a la in n y a b e r u p a
p e n y e d ia a n h o te l d a n p e n g in a p a n b a g i ja m a a h h a ji s e r t a m a n a je m e n p e n g e lo la a n w is a t a
r e lig i m a n a s ik u m ra h yang p r o p e s io n a l, am anah dan b e rk a h . P e ru s a h a a n m e m ilik i
p e n g e ta h u a n di b id a n g to u r & tra v e l s e c a ra in t e r n a s io n a l. FAW b e r te k a d u n tu k
m e m b e r ik a n h a r g a t e r ja n g k a u d e n g a n p e la y a n a n y a n g t e r b a ik b a g i c a lo n h a ji a ta u h a ja h .
P r o d u k y a n g d it a w a r k a n o le h F A W s e b a g a i b e r ik u t :
1) H o t e l d a n p e n g in a p a n b a g i ja m a a h b e r u p a h o te l m a u p u n a s r a m a h a ji y a n g n y a m a n
dan b e r k u a lit a s . B e k e r ja s a m a dengan p e n g in a p a n lo k a l u n tu k tu ru t m em bangun
p e r e k o n o m ia n p e n d u d u k lo k a l s e te m p a t.
2) U m r a h p a r k ( m a n a s ik u m r o h ) y a it u p e n g e m b a n g a n & m a n a je m e n w is a t a r e lig i m a n a s ik
u m ra h yang b e r s k a la in t e r n a s io n a l dengan s ta n d a r in t e r n a s io n a l di In d o n e s ia ,
k h u s u s n y a d i w ila y a h P r o v in s i J a w a B a r a t.
2 .4 S tr u k tu r P e r m o d a la n
B e r d a s a r k a n L a p o r a n K e u a n g a n A u d it p e r 3 0 S e p t e m b e r 2 0 2 5 , s u s u n a n p e m e g a n g s a h a m
F I T T a d a la h s e b a g a i b e r i k u t :
P e rs e n ta s e
P em egang Saham Lem bar Saham J u m la h
K e p e m ilik a n
P T G lo r ia In ti N u s a n t a r a 3 0 0 .0 0 0 .0 0 0 2 3 ,0 0 % 3 0 .0 0 0 .0 0 0 .0 0 0
H e n d ra S u ta n to 2 4 7 .0 0 0 .0 0 0 1 8 ,9 4 % 2 4 .7 0 0 ,0 0 0 .0 0 0
R ic h a r d S u w a n d i L ie 8 0 .0 0 0 .0 0 0 6 ,1 3 % 8 .0 0 0 .0 0 0 .0 0 0
M a s y a ra k a t 6 7 7 . 2 7 2 .0 5 1 5 1 ,9 3 % 6 7 .7 2 7 .2 0 5 .1 0 0
J u m la h 1 .3 0 4 .2 7 2 .0 5 1 1 0 0 ,0 0 % 1 3 0 .4 2 7 .2 0 5 .1 0 0
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2 .5 S u s u n a n M a n a je m e n d a n S tu k tu r O rg a n is a s i
Susunan D ir e k s i d a n Dewan K o m is a r is F I T T b e r d a s a r k a n la p o r a n keuangan a u d it p e r 3 0
S e p t e m b e r 2 0 2 5 a d a la h s e b a g a i b e r ik u t:
D e w a n K o m is a r is
K o m is a r is : N y . S iti R a h a y u
K o m is a r is I n d e p e n d e n : N y . Id a H a e r a n i
D ir e k s i
D ir e k t u r U t a m a T n . J o n i R iz a l
D ir e k t u r T n . T o m i T r is
D ir e k t u r T n . S u k in o
2 .6 L e g a lita s d a n P e riz in a n
L e g a lit a s d a n P e r iz in a n y a n g t e la h d im ilik i F I T T a d a la h s e b a g a i b e r ik u t:
a. A k t a P e n d ir ia n P e r s e r o a n T e r b a t a s P T H o te l F it r a S y a r ia h N o . 3 4 t a n g g a l 2 4 J a n u a r i 2 0 1 4
o le h M u h a m m a d H a n a fi, S .H ., N o t a r is d i J a k a r t a S e la t a n .
b. A k t a P e r n y a t a a n K e p u tu s a n P a r a P e m e g a n g S a h a m P T . H o t e l F itr a I n t e r n a s io n a l N o . 2 3
t a n g g a l 1 6 F e b r u a r i 2 0 1 6 o le h B . A n d y W id y a n t o , S .H ., N o t a r is d i T a n g e r a n g S e la t a n .
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c. A k t a K e p u t u s a n P a r a P e m e g a n g S a h a m S e c a r a E d a r a n P T . H o te l F it r a I n t e r n a s io n a l N o .
1 9 t a n g g a l 2 3 A p r il 2 0 1 8 o le h R u d y S is w a n t o , S .H ., N o t a r is d i J a k a r t a U t a r a
d. A k t a P e r n y a t a a n K e p u tu s a n R a p a t P T . H o te l F itr a I n t e r n a s io n a l, T b k N o . 7 t a n g g a l 1 0 J u li
2 0 1 8 o le h R u d y S is w a n t o , S . H ., N o t a r is d i J a k a r t a U ta r a .
e. A k t a P e r n y a t a a n K e p u tu s a n R a p a t P T . H o te l F it r a I n t e r n a s io n a l, T b k N o . 1 8 t a n g g a l 2 4
J u li 2 0 1 8 o le h R u d y S is w a n t o , S . H ., N o t a r is d i J a k a r t a U ta r a .
f. A k t a P e r ja n jia n P e n g e lo la a n A d m in is t r a s i S a h a m P e n a w a r a n U m u m P e r d a n a P T . H o te l
F itr a I n t e r n a s io n a l, T b k N o . 1 9 t a n g g a l 2 4 J u li 2 0 1 8 o le h R u d y S is w a n t o , S . H ., N o t a r is d i
J a k a r t a U ta r a .
g. A k t a P e r n y a t a a n P e n e r b it a n W a r a n S e r i- I P e n a w a r a n U m u m P T . H o t e l F it r a In t e r n a s io n a l
T b k N o . 2 0 t a n g g a l 2 4 J u li 2 0 1 8 o le h R u d y S is w a n t o , S .H ., N o t a r is d i J a k a r t a U ta r a .
h. A k ta P e n g e lo la a n A d m in is t r a s i W a r a n S e r i- I P T . H o te l F itr a I n t e r n a s io n a l T b k N o . 21
t a n g g a l 2 4 J u li 2 0 1 8 o le h R u d y S is w a n t o , S .H ., N o t a r is d i J a k a r t a U ta r a .
i. A k t a P e r n y a t a a n K e p u t u s a n R a p a t P T . H o te l F it r a In t e r n a s io n a l, T b k N o . 9 t a n g g a l 1 2
S e p t e m b e r 2 0 1 8 o le h R u d y S is w a n t o , S .H ., N o t a r is d i J a k a r t a U ta r a .
j. A k t a P e r n y a t a a n K e p u tu s a n R a p a t P T . H o te l F it r a I n t e r n a s io n a l N o . 1 7 t a n g g a l 1 4 F e b r u a r i
2 0 1 9 o le h R u d y S is w a n t o , S .H ., N o t a r is d i J a k a r t a U ta r a .
k. A k ta P e r ja n jia n P e n ja m in a n E m is i E fe k P e n a w a ra n Um um P e rd a n a PT. H o te l F itr a
I n t e r n a s io n a l N o . 2 4 t a n g g a l 2 0 F e b r u a r i 2 0 1 9 o le h R u d y S is w a n t o , S . H ., N o t a r is d i J a k a r t a
U ta r a .
l. A k t a P e r ja n jia n P e n g e lo la a n A d m in is t r a s i S a h a m P e n a w a r a n U m u m P e r d a n a P T . H o te l
F it r a I n t e r n a s io n a l N o . 2 5 t a n g g a l 2 0 F e b r u a r i 2 0 1 9 o le h R u d y S is w a n t o , S . H ., N o t a r is d i
J a k a r t a U ta r a .
m. A k ta P e rn y a ta a n K e p u tu s a n P a ra Pem egang Saham S e c a ra E d a ra n PT. H o te l F itr a
I n t e r n a s io n a l, T b k N o . 1 5 t a n g g a l 2 7 M a r e t 2 0 1 9 o le h R u d y S is w a n t o , S . H . , N o t a r is d i
J a k a r t a U ta r a .
n. A k t a P e r n y a t a a n D e w a n K o m is a r is T e n t a n g K e p a s tia n J u m la h S a h a m d a n P e r u b a h a a n
A n g g a r a n D a s a r D a la m R a n g k a P e n a w a r a n U m u m P e r d a n a P T . H o t e l F itr a I n t e r n a s io n a l
T b k N o . 5 t a n g g a l 1 8 J u n i 2 0 1 9 o le h R u d y S is w a n t o , S . H ., N o t a r is d i J a k a r t a U ta r a .
o. Akta Berita Acara Rapat Umum Pemegang Saham Tahunan PT. Hotel Fitra Internasional,
T b k N o . 2 3 t a n g g a l 2 4 A g u s t u s 2 0 2 0 o le h D r. E r n y K e n c a n a w a t i S .H ., M . K n . , N o t a r is d i
Bandung.
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p. A k ta P e rn y a ta a n K e p u tu s a n R apat P e ru b a h a n A n g g a ra n D asar PT. H o te l F itr a
I n t e r n a s io n a l, T b k N o . 2 5 t a n g g a l 1 8 A g u s t u s 2 0 2 1 o le h D r. E r n y K e n c a n a w a t iS . H . , M .K n .,
N o t a r is d i B a n d u n g .
q. A k t a R a p a t U m u m P e m e g a n g S a h a m T a h u n a n P T . H o te l F itr a I n t e r n a s io n a l, T b k N o . 3 3
t a n g g a l 3 0 A g u s t u s 2 0 2 1 o le h D r. E m y K e n c a n a w a t i S .H ., M . K n , N o t a r is d i B a n d u n g .
r. A k t a B e r it a A c a r a R a p a t U m u m P e m e g a n g S a h a m T a h u n a n P T . H o te l F it r a In t e r n a s io n a l,
T b k No. 1 2 t a n g g a l 2 0 J u n i 2 0 2 2 o le h D r. E r n y K e n c a n a w a t i S . H , M .K n , N o t a r is d i
Bandung.
s. A k t a B e r it a A c a r a R a p a t U m u m P e m e g a n g S a h a m T a h u n a n P T . H o t e l F it r a In t e r n a s io n a l,
T bk No. 1 5 t a n g g a l 2 6 J u n i 2 0 2 3 o le h D r. E r n y K e n c a n a w a t i S . H , M . K n , N o t a r is d i
Bandung.
t. A k ta B e r it a A c a ra R apat Um um P em egang Saham Luar B ia s a PT. H o te l F itr a
I n t e r n a s io n a l, T b k N o . 1 6 t a n g g a l 2 6 J u n i 2 0 2 3 o le h D r. E r n y K e n c a n a w a t i S . H , M . K n ,
N o t a r is d i B a n d u n g .
u. A k ta B e r it a A c a ra R apat Um um P em egang Saham Luar B ia s a PT. H o te l F itr a
I n t e r n a s io n a l, T b k N o . 6 t a n g g a l 1 5 M a r e t 2 0 2 4 o le h D r. E r n y K e n c a n a w a t i S . H , M . K n ,
N o t a r is d i B a n d u n g .
v. Nom or In d u k B e ru s a h a (N IB ) No. 9120201271193, d ik e lu a r k a n o le h M e n te r i
I n v e s t a s i/ K e p a la B a d a n K o o r d in a s i P e n a n a m a n M o d a l, t a n g g a l 1 9 F e b r u a r i 2 0 1 9 .
w. N o m o r P o k o k W a jib P a ja k ( N P W P ) N o . 0 3 . 3 4 6 . 6 4 7 . 5 - 0 7 7 . 0 0 0 a ta s n a m a P T . H o te l F itr a
I n t e r n a t io n a l T b k .
x. S u r a t Iz in U s a h a P e r d a g a n g a n ( S I U P ) N o . 5 1 7 /0 1 P B - B / ll- D P M P T S P / 2 0 1 9 T a n g g a l 2 8
F e b r u a r i 2 0 1 9 d it e r b it k a m D in a s P e n a n a m a n M o d a l d a n P e la y a n a n T e r p a d u S a tu P in tu
P e m e r in t a h K a b u p a t e n M a ja le n g k a .
2 .7 T e n a g a K e rja
S esuai dengan la p o r a n keuangan A u d it p e r io d e 30 S e p te m b e r 2025 ju m la h k a ry a w a n
s e b a n y a k 6 2 o r a n g ( 2 3 k a r y a w a n te t a p , 2 2 k a r y a w a n k o n t r a k s e r t a 1 7 k a r y a w a n h a r ia n ) .
2 .8 T in ja u a n K in e rja K e u a n g a n
Analisis kinerja keuangan historis F I T T didasarkan atas Laporan Keuangan periode 2 0 2 1 ,
2 0 2 2 , 2 0 2 3 , 2 0 2 4 d a n 3 0 S e p t e m b e r 2 0 2 5 y a n g t e la h d ia u d it o le h K a n t o r A k u n t a n P u b lik D ra .
S u h a rta ti d a n R e k a n .
P T H o te l F itr a In te r n a tio n a l T b k
Studi Kelayakan Bisnis Terkai Penambahan KBLI 17
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F I C
K J P P E di A n d e s ta
L
d an
O
R e k a n
T i n j a u a n P o s is i K e u a n g a n
(D a la m R u p ia h )
2021 2022 2023 2024 2025
U R A IA N 1 J a n - 31 D e s 1 J a n • 31 D e s 1 J a n - 31 D e s 1 J a n - 31 D e s 1 Jan - 30 S ept
A U D IT E D
ASET
A se t Lancar
K a s d a n S e ta r a K a s 1 0 .3 2 8 .4 2 6 .8 4 2 3 .7 7 6 .7 4 7 .5 0 8 2 .8 5 9 .7 2 9 .9 9 6 4 2 .6 8 3 .5 4 1 .4 7 1 3 2 .3 7 1 .2 1 2 .1 7 0
P iu t a n g U s a h a 2 8 5 .6 9 4 .2 0 1 3 5 8 .4 7 6 .3 4 3 3 3 5 .2 2 2 .9 6 5 3 6 1 .0 3 5 .4 0 9 3 9 2 .7 1 5 .3 0 3
P iu t a n g L a in - la in - P ih a k K e t ig a 5 .3 8 0 .0 0 0 7 .0 9 2 .0 0 0 8 .4 9 4 .0 0 0 - -
P e r s e d ia a n 7 8 .0 1 5 .8 1 7 1 5 3 .6 2 3 .4 8 0 8 7 .1 1 4 .0 3 9 1 5 9 .2 6 5 .7 1 9 6 5 .4 0 4 .4 0 4
P a ja k D ib a y a r D im u k a - - - 4 .3 6 5 .3 2 2 -
U ang M uka - 6 2 7 .7 6 8 .1 8 4 1 .3 5 5 .9 7 2 .2 6 5 9 .7 0 6 .3 8 0 .7 2 3 1 8 .9 3 1 .6 3 7 .6 2 3
J u m la h a s e t la n c a r 1 0 .6 9 7 .5 1 6 .8 6 0 4 .9 2 3 .7 0 7 .5 1 5 4 .6 4 6 .5 3 3 .2 6 5 5 2 .9 1 4 .5 8 8 .6 4 4 5 1 .7 6 0 .9 6 9 .5 0 0
A s e t T id a k L a n c a r
A s e t p a ja k t a n g g u h a n 2 0 5 .4 7 3 .1 4 9 1 5 9 .3 7 3 .9 2 3 1 5 1 .3 7 8 .2 3 6 1 8 8 .1 4 8 .3 0 6 2 2 1 .3 6 8 .6 4 6
A s e t T e ta p 5 5 .6 6 2 .6 6 4 .1 6 3 5 6 .8 5 3 .7 8 6 .3 3 9 5 3 .0 1 0 .4 0 4 .3 5 2 4 9 .2 2 8 .0 6 8 .3 5 8 4 6 .6 4 3 .7 2 1 .7 6 9
J u m la h a s e t t id a k la n c a r 5 5 .8 6 8 .1 3 7 .3 1 2 5 7 .0 1 3 .1 6 0 .2 6 2 5 3 .1 6 1 .7 8 2 .5 8 8 4 9 .4 1 6 .2 1 6 .6 6 4 4 6 .8 6 5 .0 9 0 .4 1 5
JUM LAH ASET 6 6 .5 6 5 .6 5 4 .1 7 2 6 1 3 3 6 .8 6 7 .7 7 7 5 7 .8 0 8 .3 1 5 .8 5 3 1 0 2 .3 3 0 .8 0 5 .3 0 8 9 8 .6 2 6 .0 5 9 .9 1 5
L IA B IL IT A S D A N E K U IT A S
L IA B IL IT A S
L ia b ilit a s J a n g k a P e n d e k
U ta n g U s a h a 9 2 .9 8 0 .0 7 9 1 9 .9 9 9 .9 5 9 - - -
U t a n g L a in - la in - P ih a k K e t ig a 3 4 2 .1 3 7 .0 0 3 1 2 1 .5 6 2 .5 0 0 1 0 7 .9 6 2 .3 7 4 3 0 .8 7 3 .0 0 0 1 0 0 .1 7 1 .9 0 5
U t a n g P a ja k 1 4 0 .8 2 1 .1 4 2 1 4 1 . 8 9 5 .8 4 1 1 9 8 .0 2 6 .0 0 4 1 5 4 .7 7 8 .2 5 4 8 7 .2 1 4 .2 2 3
1 .3 5 4 .6 4 2 .2 1 5 1 .0 5 3 . 0 3 6 . 0 5 6 8 5 3 .5 4 2 .6 7 6 3 4 8 .7 9 8 .4 6 6 2 4 6 .5 1 6 .5 6 8
B ia y a Y a n g M a s ih H a r u s D ib a y a r
U t a n g B a n k - J a t u h T e m p o d a la m
3 .5 4 0 .0 0 0 .0 0 0 3 .7 2 0 .0 0 0 .0 0 0 5 .4 0 0 .0 0 0 .0 0 0 2 .7 0 0 .0 0 0 .0 0 0
1 Tahun 9 .3 0 0 .0 0 0 .0 0 0
U ta n g p e m e g a n g s a h a m 8 .8 5 6 .9 5 5 - 7 .0 0 0 .0 0 0 .0 0 0 8 .0 0 0 .0 0 0 .0 0 0 1 6 .5 0 0 .0 0 0 .0 0 0
J u m la h L ia b ilita s J a n g k a P e n d e k 5 .4 7 9 .4 3 7 .3 9 4 5 .0 5 6 .4 9 4 .3 5 6 1 3 .5 5 9 .5 3 1 .0 5 4 1 7 .8 3 4 .4 4 9 .7 2 0 1 9 .6 3 3 .9 0 2 .6 9 6
L ia b ilit a s J a n g k a P a n ja n g
U ta n g B a n k 2 2 .0 6 3 .1 0 0 .0 0 0 2 0 .8 0 3 .1 0 0 .0 0 0 1 5 .4 0 3 .1 0 0 .0 0 0 6 .1 0 3 .1 0 0 .0 0 0 6 .1 0 3 .1 0 0 .0 0 0
Im b a la n p a s c a k e r ja 9 3 3 .9 6 8 .8 5 9 7 2 4 .4 2 6 .9 2 4 6 8 8 .0 8 2 .8 9 2 8 5 5 .2 1 9 .5 7 2 1 .0 0 6 .2 2 1 .1 2 1
J u m la h L ia b ilita s J a n g k a P a n ja n g 2 2 .9 9 7 .0 6 8 .8 5 9 2 1 .5 2 7 .5 2 6 .9 2 4 1 6 .0 9 1 .1 8 2 .8 9 2 6 .9 5 8 .3 1 9 .5 7 2 7 .1 0 9 .3 2 1 .1 2 1
J U M L A H L I A B IL IT A S 2 8 .4 7 6 .5 0 6 2 5 3 2 6 .5 8 4 .0 2 1 .2 8 0 2 9 .6 5 0 .7 1 3 .9 4 6 2 4 .7 9 2 .7 6 9 .2 9 2 2 6 .7 4 3 .2 2 3 .8 1 6
E K U IT A S
M odal saham 7 0 .3 5 9 .2 5 8 .7 0 0 7 2 .6 1 3 .0 1 9 .9 0 0 7 2 .6 1 3 .0 1 9 .9 0 0 1 3 0 .4 2 7 .2 0 5 .1 0 0 1 3 0 .4 2 7 .2 0 5 .1 0 0
T a m b a h a n m o d a l d is e t o r (7 .2 7 2 .0 9 9 .4 1 7 ) (6 .4 1 5 .6 6 9 .4 7 1 ) (6 .4 1 5 .6 6 9 .4 7 1 ) (7 .1 1 4 .6 6 9 .4 7 1 ) (7 .1 1 4 .6 6 9 .4 7 1 )
D e f is it (2 4 .9 9 8 .0 6 7 .4 7 4 ) (3 0 .8 4 4 .5 1 7 .9 2 8 ) (3 8 .0 3 9 .4 8 8 .6 5 9 ) (4 5 .7 9 3 .7 0 1 .9 2 9 ) (5 1 .4 4 8 .8 6 5 .4 7 7 )
J u m la h E k u it a s Y a n g D a p a t
D ia t r ib u s ik a n
K e p a d a P e m ilik E n t it a s I n d u k 3 8 .0 8 9 .0 9 1 .8 0 9 3 5 .3 5 2 .8 3 2 .5 0 1 2 8 .1 5 7 .8 6 1 .7 7 0 7 7 .5 1 8 .8 3 3 .7 0 0 7 1 .8 6 3 .6 7 0 .1 5 2
K e p e n t in g a n N o n - P e n g e n d a li 5 6 .1 1 0 1 3 .9 9 6 (2 5 9 .8 6 3 ) 1 9 .2 0 2 .3 1 6 1 9 .1 6 5 .9 4 8
J U M L A H E K U IT A S 3 8 .0 8 9 .1 4 7 .9 1 9 3 5 .3 5 2 .8 4 6 .4 9 7 2 8 .1 5 7 .6 0 1 .9 0 7 7 7 .5 3 8 .0 3 6 .0 1 6 7 1 .8 8 2 .8 3 6 .1 0 0
J U M L A H L IA B IL IT A S D A N E K U fT A S 6 6 .5 6 5 .6 5 4 .1 7 2 6 1 .9 3 6 .8 6 7 .7 7 7 5 7 .8 0 8 .3 1 5 .8 5 3 1 0 2 .3 3 0 .8 0 5 .3 0 8 9 8 .6 2 6 .0 5 9 .9 1 6
Sumber: Laporan Keuangan Audit FITT Tahun 2021 - September 2025, diolah
Aset
S e la m a p e r io d e h is t o r is 2021 - 30 S e p te m b e r 2025, to ta l aset P e rs e ro a n m e n g a la m i
p e n in g k a t a n d e n g a n C A G R 1 0 , 3 3 % . H a l in i t e r ja d i k a r e n a a d a n y a p e n in g k a t a n k a s d a n s e ta r a
k a s y a n g d im ilik i P e r s e r o a n .
L i a b il i t a s
T o t a l lia b ilit a s P e r s e r o a n s e la m a p e r io d e h is t o r is 2 0 2 1 - 3 0 S e p t e m b e r 2 0 2 5 m e n u n ju k k a n
p e n u ru n a n dengan CAGR sebesar 1 ,5 6 % . K e n a ik a n lia b ilit a s P e rs e ro a n s e b a g ia n besar
s e h u b u n g a n d e n g a n u ta n g b a n k y a n g m e n g a la m i p e n u r u n a n s e t ia p ta h u n n y a .
P T H o te l F itr a In te r n a tio n a l T b k
Studi Kelayakan Bisnis Terkai Penambahan KBLI 18
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KJPP Edi A n d e s t a dan Rekan
E k u ita s
S e la m a p e r io d e h is t o r is 2021 - 30 S e p te m b e r 2025, e k u it a s P e rs e ro a n m e n g a la m i
p e n in g k a t a n d e n g a n C A G R 1 7 , 2 1 % . H a l in i t e r ja d i k a r e n a a d a n y a p e n in g k a t a n p a d a s e to r a n
m o d a l P e rs e ro a n .
T i n i a u a n L a b a ( R u g i)
(D a la m R u p ia h )
2021 2022 2023 2024 2025
U R A IA N 1 J a n - 31 D es 1 J a n - 31 D es 1 J a n - 31 D e s 1 J a n - 31 D e s 1 Jan - 30 S ept
A U D IT E D
P e n d a p a ta n 8 .7 5 9 .8 7 3 .7 7 4 1 0 .4 9 5 .2 8 1 .0 0 6 1 1 .8 3 3 .5 2 5 .2 3 7 1 3 .3 4 1 .8 1 9 .4 0 0 6 .3 6 0 .6 7 5 .7 2 5
B e b a n p o k o k p e n d a p a ta n (5 .6 0 1 .5 9 9 .0 2 0 ) (6 .5 3 3 .6 2 4 .8 7 6 ) (7 .6 5 2 .0 1 7 .8 6 5 ) (9 .1 2 3 .6 1 6 .7 5 4 ) (5 .1 2 5 .7 6 8 .1 1 5 )
L a b a (r u g i) k o to r 3 .1 5 8 .2 7 4 .7 5 4 3 .9 6 1 .6 5 6 .1 3 0 4 .1 8 1 .5 0 7 .3 7 2 4 .2 1 8 .2 0 2 .6 4 6 1 .2 3 4 .9 0 7 .6 1 0
B eban U saha (6 .3 3 5 .6 8 1 .0 3 5 ) (6 .8 6 2 .8 3 2 .7 4 1 ) (8 .3 3 5 .6 3 8 .2 8 9 ) (9 .4 9 2 .9 5 4 .3 3 7 ) (5 .5 4 1 .1 3 6 .9 4 0 )
P e n d a p a t a n ( B e b a n ) L a in - la in
P e n d a p a t a n J a s a G ir o 1 3 .9 6 2 .1 9 3 5 4 .4 0 5 .8 2 7 1 7 .7 7 9 .0 2 4 1 9 6 .1 6 0 .0 0 6 1 4 1 .0 2 6 .7 3 7
P e n d a p a t a n L a in - la in 1 3 7 .2 3 9 .7 3 4 1 8 4 .8 2 0 .1 5 3 1 2 5 .3 4 8 .0 7 3 1 .7 6 4 .6 9 4 8 .1 9 2 .6 6 2
B u n g a P in ja m a n B a n k (2 .2 1 1 .2 4 4 .9 8 6 ) (3 .3 0 6 .2 8 0 .8 9 1 ) (3 .2 5 4 .1 2 1 .2 9 3 ) (2 .2 7 8 .1 6 1 .0 3 0 ) (1 .0 8 8 .4 5 7 .3 1 8 )
Bunga Sewa
P e m b ia y a a n (1 9 .9 9 6 .1 7 2 ) (1 .2 3 5 .5 5 6 )
P a ja k B u n g a (2 .8 2 4 .3 4 0 ) (1 0 .8 9 7 .7 3 4 ) (3 .5 1 0 .6 7 0 ) (3 9 .2 2 3 .2 1 1 ) (2 8 .0 9 7 .8 2 7 )
A d m in i s t r a s i B a n k (8 .0 7 2 .5 0 0 ) (7 .6 2 9 .6 4 0 ) (8 .5 4 2 .2 2 9 ) (7 .4 1 1 .4 0 4 ) (4 .3 8 8 .4 9 5 )
B u n g a P in ja m a n
Pem egang Saham (1 6 1 .3 8 8 .8 9 8 ) ( 1 1 7 .6 0 4 .1 6 9 ) (4 2 4 .0 9 7 .2 4 3 ) (4 1 0 .4 1 6 .6 8 7 )
R u g i s e b e lu m p a ja k ( 5 .4 2 9 .7 3 1 .2 5 0 ) (5 .9 8 7 .9 9 4 .4 5 2 ) ( 7 .3 9 4 .7 8 2 .1 8 1 ) ( 7 .8 2 5 .7 1 9 .8 7 9 ) (5 .6 8 8 .3 7 0 .2 5 7 )
M a n f a a t ( b e b a n ) p a ja k
P a ja k k in i - - - - -
P a ja k t a n g g u h a n 7 .8 9 4 .2 6 7 (5 .8 2 8 .7 7 3 ) 3 7 .6 6 1 .6 3 4 4 4 .2 9 3 .7 8 8 3 3 .2 2 0 .3 4 1
R u g i ta h u n b e r ja la n ( 5 .4 2 1 .8 3 6 .9 8 3 ) (5 .9 9 3 .8 2 3 .2 2 5 ) ( 7 .3 5 7 .1 2 0 .5 4 7 ) (7 .7 8 1 .4 2 6 .0 9 1 ) ( 5 .6 5 5 .1 4 9 .9 1 6 )
Sumber: Laporan Keuangan Audit FITT Tahun 2021 - September 2025, diolah
P e n d a p a ta n
P e n d a p a ta n P e rs e ro a n s e la m a p e r io d e h is t o r is 2021 - 30 S e p te m b e r 2 0 2 5 m e n g a la m i
p e n u ru n a n sebesar C AG R 0 ,8 1 % . H a l in i t e r ja d i k a re n a adanya p e n u ru n a n p e n d a p a ta n
P e r s e r o a n p a d a p e n y e d ia a n ja s a la y a n a n h o te l.
B e b a n P o k o k P e n d a p a ta n
B e b a n p o k o k p e n d a p a t a n P e r s e r o a n m e n u n ju k k a n k e n a ik a n d a r i ta h u n 2 0 2 1 - 3 0 S e p t e m b e r
2 0 2 5 d e n g a n C A G R s e b e s a r 5 ,1 0 % . H a l in i d ik a r e n a k a n a d a n y a p e n in g k a t a n pada beban
t e r k a it u s a h a p e r h o t e la n .
R u g i T a h u n B e r ja la n
P e r s e r o a n m e n c a t a t k a n ru g i t a h u n b e r ja la n s e la m a p e r io d e h is t o r is 2 0 2 1 - 3 0 S e p t e m b e r 2 0 2 5
d e n g a n p e n in g k a t a n C A G R s e b e s a r 8 ,5 9 % . H a l in i d ik a r e n a k a n o le h m e n in g k a t n y a b e b a n
b e b a n Ia in - la in .
P T H o te l F itr a In te r n a t io n a l T b k
Studi Kelayakan Bisnis Terkai Penambahan KBLI 19
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/ T / F C A P P R A I S A L
KJPP Edi A n d e s t a da n Rekan
T in ja u a n A r u s K a s
(D a la m R u p ia h )
2021 2022 2023 2024 2025
U R A IA N 1 J a n - 31 D e s 1 J a n - 31 D e s 1 J a n - 31 D e s 1 J a n - 31 D e s 1 Jan - 30 Sept
A U D IT E D
A R U S K A S D A R I A K T IV IT A S
OPERASI
P e n e r im a a n K a s D a r i
7 .5 8 7 .2 5 9 .0 0 4 1 0 .2 0 1 .9 2 4 .3 6 1 1 1 .8 4 3 .1 7 8 .4 8 9 1 3 .2 3 8 .9 1 7 .5 8 2 6 .3 9 8 .2 9 4 .7 3 6
P e la n g g a n
P e m b a y a ra n K a s K e p a d a
(5 .5 3 0 .1 4 2 .6 0 4 )
P e m a s o k d a n P ih a k K e t ig a (6 .9 7 4 .1 7 0 .0 2 7 ) (8 .5 5 4 .3 3 2 .3 6 3 ) (1 8 .5 4 1 .1 7 8 .4 3 6 ) (4 .9 1 9 .8 9 7 .0 5 3 )
P e m b a y a ra n K a s K e p a d a
(3 .1 8 5 .3 1 1 .9 9 7 ) (3 .6 3 6 .5 3 4 .7 4 0 ) (3 .6 6 8 .1 7 4 .9 8 1 ) (3 .6 9 1 .4 6 8 .8 6 0 ) (2 .8 6 2 .9 7 1 .5 9 9 )
K a ry a w a n
P e n e r im a a n ( P e m b a y a r a n ) :
P e n g h a s ila n B u n g a 1 1 .1 3 7 .8 5 3 4 3 .5 0 8 .0 9 3 1 4 .2 6 8 .3 5 4 1 5 6 .9 3 6 .7 9 5 1 1 2 .9 2 8 .9 1 0
B eban K euangan (2 .5 0 0 .7 0 2 .5 5 6 ) (3 .4 1 5 .1 4 6 .0 8 7 ) (3 .3 8 0 .2 6 7 .6 9 1 ) (2 .7 0 9 .6 6 9 .6 7 7 ) (1 .5 0 3 .3 1 2 .5 0 0 )
B e b a n P a ja k (2 4 .4 1 3 .2 9 1 ) (1 3 1 .0 6 8 .4 2 6 ) (2 8 8 .0 3 7 .6 6 2 ) (1 .2 4 0 .7 2 1 .9 2 3 ) (1 8 5 .3 7 9 .7 5 7 )
O p e r a s io n a l L a in n y a 1 3 7 .2 3 9 .7 3 4 1 8 4 .8 2 0 .1 5 3 1 2 5 .3 4 8 .0 7 3 1 .7 6 4 .6 9 4 8 .1 9 2 . 6 6 2
A r u s k a s b e r s ih d ig u n a k a n
( 3 .5 0 4 .9 3 3 .8 5 7 ) ( 3 .7 2 6 .6 6 6 .6 7 3 ) ( 3 .9 0 8 .0 1 7 .7 8 1 ) ( 1 2 .7 8 5 .4 1 9 .8 2 5 ) ( 2 .9 5 2 .1 4 4 .6 0 1 )
u n tu k a k t iv it a s o p e r a s i
A R U S K A S D A R I A K T IV IT A S
IN V E S T A S I
U a n g M u k a P e k e r ja a n
P r o je c t K e r t a ja t i U m r a h
. _ _ _ (9 .2 2 5 .2 5 6 .9 0 0 )
P a rk
P e r o le h a n A s e t T e t a p (2 6 7 .1 2 5 .9 8 0 ) (4 .9 4 6 .3 4 6 .8 5 2 ) (2 8 8 .9 9 9 .7 3 1 ) (1 2 5 .9 5 3 .9 0 0 ) (3 4 .9 2 7 .8 0 0 )
A r u s k a s b e r s ih a k tiv ita s
(2 6 7 .1 2 5 .9 8 0 ) (4 .9 4 6 .3 4 6 .8 5 2 ) ( 2 8 8 .9 9 9 .7 3 1 ) (1 2 5 .9 5 3 .9 0 0 ) ( 9 .2 6 0 .1 8 4 .7 0 0 )
in v e s t a s i
A R U S K A S D A R I A K T IV IT A S
PENDANAAN
T a m b a h a n M o d a l D is e t o r Y a n g
B e ra s a l D a ri
P e n e r b it a n S a h a m B a r u 1 4 .2 9 5 .7 7 6 .3 1 6 3 .1 1 0 .1 9 1 .1 4 6 - 5 0 .8 3 4 .1 8 5 .2 0 0 -
B i a y a E m is i S a h a m (7 1 0 .0 0 0 .0 0 0 ) (9 8 0 .0 0 0 .0 0 0 ) - (6 9 9 .0 0 0 .0 0 0 ) -
P e m b a y a r a n U ta n g B a n k (1 6 7 .0 9 5 .8 2 8 ) (8 .8 5 6 .9 5 5 ) (3 .7 2 0 .0 0 0 .0 0 0 ) (5 .4 0 0 .0 0 0 .0 0 0 ) (6 .6 0 0 .0 0 0 .0 0 0 )
P e n e r im a a n P in ja m a n d a r i
(1 .0 0 0 .0 0 0 .0 0 0 ) - 7 .0 0 0 .0 0 0 .0 0 0 8 .0 0 0 .0 0 0 .0 0 0 8 .5 0 0 .0 0 0 .0 0 0
P i h a k B e r e la s i
A r u s k a s b e r s ih d ip e r o le h d a r i
1 2 .4 1 8 .6 8 0 .4 8 8 2 .1 2 1 .3 3 4 .1 9 1 3 .2 8 0 .0 0 0 .0 0 0 5 2 .7 3 5 .1 8 5 .2 0 0 1 .9 0 0 .0 0 0 .0 0 0
a k tiv it a s p e n d a n a a n
PENURUNAN KAS DAN
8 .6 4 6 .6 2 0 .6 5 1 ( 6 .5 5 1 .6 7 9 .3 3 4 ) (9 1 7 .0 1 7 .5 1 2 ) 3 9 .8 2 3 .8 1 1 .4 7 5 ( 1 0 .3 1 2 .3 2 9 .3 0 1 )
SETARA KAS
KAS DAN SETARA KAS AW AL
1 .6 8 1 .8 0 6 .1 9 1 1 0 .3 2 8 .4 2 6 .8 4 2 3 .7 7 6 .7 4 7 .5 0 8 2 .8 5 9 .7 2 9 .9 9 6 4 2 .6 8 3 .5 4 1 .4 7 1
TAHUN
S A L D O A K H IR K A S D A N
1 0 .3 2 8 .4 2 6 .8 4 2 3 .7 7 6 .7 4 7 .5 0 8 2 .8 5 9 .7 2 9 .9 9 6 4 2 .6 8 3 .5 4 1 .4 7 1 3 2 .3 7 1 .2 1 2 .1 7 0
SETARA KAS
Sumber: Laporan Keuangan Audit FITT Tahun 2021 - September 2025, diotah
A r u s K a s d a r i A k tiv it a s O p e ra s !
A r u s k a s d a r i a k t iv it a s o p e r a s i P e r s e r o a n s e la m a p e r io d e h is t o r is , m e n c a t a t k a n a r u s k a s n e g a t if
d a n d i t a h u n 2 0 2 4 m e n c a t a t k a n p e n in g k a t a n t e r t in g g i. H a l in i d ik a r e n a k a n a d a n y a p e n in g k a t a n
p e m b a y a r a n k a s k e p a d a p e m a s o k d a n p ih a k k e t ig a d i ta h u n t e r s e b u t.
A r u s K a s d a r i A k tiv ita s In v e s ta s i
A r u s k a s d a r i a k t iv it a s in v e s t a s i s e la m a p e r io d e h is t o r is s e la lu m e n c a t a t k a n k e g ia t a n in v e s t a s i
y a n g t e r ja d i s e la m a p e r io d e h is t o r is 2 0 2 1 - 3 0 S e p t e m b e r 2 0 2 5 t e r k a it p e n a m b a h a n a s e t t e t a p
d a n u n t u k p e r o le h a n p e k e r ja a n p r o y e k K e r ta ja t i U m r a h P a r k .
P T H o te l F itr a In te r n a t io n a l T b k
Studi Kelayakan Bisnis Terkai Penambahan KBLI 20
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T F / C
K J P P E di A n d e s ta
S A L
d an
O
R e k a n
A r u s K a s d a r i A k tiv it a s P e n d a n a a n
A ru s kas d a r i a k t iv it a s pendanaan P e rs e ro a n s e la m a p e r io d e h is t o r is ta h u n 2021 - 30
S e p t e m b e r 2 0 2 5 s e b a g ia n b e s a r t e r k a it d e n g a n p e m b ia y a a n u n t u k k e b u t u h a n m o d a l k e r ja
o p e r a s io n a l P e r s e r o a n . D i p e r io d e a w a l t a h u n 2 0 2 4 , P e r s e r o a n m e m p e r o le h p e n e r b it a n s a h a m
b a ru .
R a s io K e u a n q a n
R a s i o L i k u id it a s
R a s io L ik u id ita s 2021 2022 2023 2024 2025
Current Ratio (x) 1,95 0,97 0,34 2,97 2,64
Quick Ratio (x) 1,94 0,82 0,24 2,41 1,67
Cash Ratio (x) 1,88 0,75 0,21 2,39 1,65
S R a s io la n c a r P e r s e r o a n p a d a ta h u n 2 0 2 1 - 2 0 2 3 r a t a - r a ta m e n u n ju k k a n a n g k a d i a ta s 1,
h a l in i m e n u n ju k k a n b a h w a P e r s e r o a n m e m ilik i t in g k a t lik u id it a s s e h a t d a la m m e lu n a s i
lia b ilit a s ja n g k a p e n d e k n y a m e n g g u n a k a n a s e t la n c a r .
R a s io S o lv a b ilita s
R A S IO S O L V A B IL IT A S 2021 2022 2023 2024 2025
Debt To Equity Ratio (x) 0,67 0,69 0,99 0,30 0,35
Debt To Asset Ratio (x) 0,38 0,40 0,48 0,23 0,26
S U t a n g b e r b u n g a t e r h a d a p e k u it a s t e r lih a t m e n g a la m i p e n u r u n a n p e r io d e h is t o r is d a r i ta h u n
2021 s a m p a i d e n g a n 3 0 S e p t e m b e r 2 0 2 5 , h a l in i m e n u n ju k a n a d a n y a p e r b a ik a n p a d a
s tru k tu r m odal P e rs e ro a n yang le b ih kuat pada e k u it a s yang d im ilik i P e rs e ro a n
d ib a n d in g k a n f a s ilit a s u ta n g b e r b u n g a y a n g d ig u n a k a n .
R a s io A k tiv ita s
R A S IO A K T IV IT A S 2022 2023 2024 2025
Perputaran Piutang 11 11 10 22
Perputaran Persediaan 6 6 5 8
J P e rp u ta ra n p iu t a n g dan p e r s e d ia a n m e m ilik i a n g k a ra ta -ra ta s e la m a p e r io d e h is t o r is
m a s in g - m a s in g s e b e s a r 1 3 h a r i d a n 6 h a r i. H a l in i m e n u n ju k k a n lik u id it a s y a n g k u a t d a n
e f is ie n s i d a la m p e n g e lo la a n p iu t a n g d a n p e r s e d ia a n .
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K J P P Edi A n d e s ta d an R e k a n
R a s io P r o fita b ilita s
R a s io P ro fita b ilita s 2021 2022 2023 2024 2025
Gross Profit Margin 36,05% 37,75% 35,34% 31,62% 19,41%
Operating Profit Margin -61,98% -57,05% -62,49% -58,66% -89,43%
Net Profit Margin -61,89% -57,11% -62,17% -58,32% -88,91%
Return On Asset -8,15% -9,68% -12,73% -7,60% -5,73%
Return On Equity -14,23% -16,95% -26,13% -10,04% -7,87%
s S e la m a p e r io d e h is t o r is m a r g in k e u n t u n g a n d a r i k e g ia t a n o p e r a s io n a l m e n u n ju k k a n h a s il
y a n g n e g a tif. H a l in i m e n u n ju k a n b a h w a P e r s e r o a n m e m ilik i k in e r ja y a n g k u ra n g b a ik
s e b a g a i p e r u s a h a a n d ib id a n g p e n y e d ia a n h o te l.
2 .9 P ro fil P T P o s e id o n S h ip p in g In d o n e s ia
D a la m r e n c a n a p e n a m b a h a n K B L I, F I T T a k a n m e la k u k a n a k u s is i t e r h a d a p p e r u s a h a a n b e r ik u t
in i:
P S I a d a la h s e b u a h P e r s e r o a n T e r b a t a s y a n g d id ir ik a n b e rd a s a rk a n p e ra tu ra n p e ru n d a n g -
u n d a n g a n R e p u b lik I n d o n e s ia . A n g g a r a n d a s a r P e r u s a h a a n t e la h d is a h k a n d a n b e r la k u e f e k t if
p a d a t a n g g a l 2 7 J u n i 2 0 2 3 d i J a k a r t a b e r d a s a r k a n A k t a P e n d ir ia n N o . 11 t a n g g a l 2 3 J u n i 2 0 2 3
d ib u a t o le h N o t a r is A n a s t a s ia C h a n d r a , S . H ., M .K n ., N o t a r is d i K a b u p a t e n T a n g e r a n g . A k t a
te rs e b u t s u d a h m e n d a p a tk a n p e r s e t u ju a n d a ri M e n te r i H ukum dan H ak A sasi M a n u s ia
R e p u b lik In d o n e s ia b e r d a s a r k a n S u r a t K e p u tu s a n M e n te r i H u k u m d a n H a k A s a s i M a n u s ia
R e p u b lik I n d o n e s ia Nom or A H U - 0 0 4 6 6 7 7 . A H . 0 1 . 01 .T a h u n 2023 te n t a n g P engesahan
P e n d ir ia n B a d a n H u k u m P e r s e r o a n T e r b a t a s P T . P o s e id o n S h ip p in g In d o n e s ia .
M a k s u d d a n t u ju a n s e r t a k e g ia t a n u s a h a P S I t e r c a n t u m d a la m A k t a N o . 11 t a n g g a l 2 3 J u n i
2 0 2 3 y a itu b e r u s a h a d a la m b id a n g A n g k u t a n L a u t D a la m N e g e r i u n t u k B a r a n g U m u m ( K B L I
5 0 1 3 1 ) , A n g k u t a n L a u t D a la m N e g e r i u n t u k B a r a n g K h u s u s ( K B L I 5 0 1 3 3 ) , A n g k u t a n L a u t L u a r
N e g e ri u n tu k B a ra n g Um um (K B L I 5 0 1 4 1 ) d a n A n g k u ta n L a u t L u a r N e g e ri u n tu k B a ra n g
K h u s u s (K B L I 5 0 1 4 2 )
U n t u k m e n c a p a i m a k s u d d a n t u ju a n t e r s e b u t d ia t a s P S I d a p a t m e la k s a n a k a n k e g ia t a n u s a h a
s e b a g a i b e r ik u t:
a. A n g k u t a n L a u t D a la m N e g e r i u n t u k B a r a n g U m u m ( K B L I 5 0 1 3 1 )
K e lo m p o k in i m encakup usaha p e n g a n g k u ta n b a ra n g um um m e la lu i la u t dengan
m e n g g u n a k a n k a p a l la u t a n t a r p e la b u h a n d a la m n e g e r i d e n g a n m e la y a r i t r a y e k s e c a r a
te ta p dan t e r a t u r ( lin e r ) d e n g a n b e r ja d w a l, a ta u t r a y e k t id a k t e t a p dan t id a k te ra tu r
( t r a m p e r ) . T e r m a s u k u s a h a p e r s e w a a n a n g k u t a n la u t b e r ik u t o p e r a t o r n y a .
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b. A n g k u t a n L a u t D a la m N e g e r i u n t u k B a r a n g K h u s u s ( K B L I 5 0 1 3 3 )
K e lo m p o k in i m e n c a k u p u s a h a p e n g a n g k u t a n b a r a n g d e n g a n m e n g g u n a k a n k a p a l la u t
y a n g d ir a n c a n g s e c a r a k h u s u s u n t u k m e n g a n g k u t s u a t u je n is b a r a n g t e r t e n t u , s e p e r t i
a n g k u t a n b a r a n g b e r b a h a y a , lim b a h b a h a n b e r b a h a y a d a n b e r a c u n , b a h a n b a k a r m in y a k ,
m in y a k b u m i, h a s il o la h a n , L P G , L N G d a n C N G , ik a n d a n s e je n is n y a . T e r m a s u k u s a h a
p e r s e w a a n a n g k u ta n la u t b e r ik u t o p e r a t o m y a .
c. A n g k u ta n L a u t L u a r N e g e ri u n tu k B a ra n g U m u m (K B L I 5 0 1 4 1 )
K e lo m p o k in i m e n c a k u p u s a h a p e n g a n g k u t a n b a r a n g m e la lu i la u t d e n g a n m e n g g u n a k a n
k a p a l la u t a n t a r p e la b u h a n d i I n d o n e s ia d e n g a n p e la b u h a n d i lu a r n e g e r i d e n g a n m e la y a r i
t r a y e k s e c a r a t e t a p d a n t e r a t u r ( lin e r ) d e n g a n b e r ja d w a l, a ta u t r a y e k t id a k t e t a p d a n t id a k
t e r a t u r ( t r a m p e r ) . T e r m a s u k u s a h a p e r s e w a a n a n g k u t a n la u t b e r ik u t o p e r a t o m y a .
d. A n g k u ta n L a u t L u a r N e g e ri u n tu k B a ra n g K h u s u s (K B L I 5 0 1 4 2 )
K e lo m p o k in i m encakup usaha a n g k u ta n la u t in t e r n a s io n a l u n tu k b a ra n g khusus,
c o n t o h n y a a n g k u t a n b a r a n g b e r b a h a y a , lim b a h b a h a n b e r b a h a y a d a n b e r a c u n , t e r m a s u k
ik a n dan s e je n is n y a . A n g k u t a n la u t k h u s u s d e n g a n m enggunakan k a p a l b e rb e n d e ra
I n d o n e s ia d e n g a n k o n d is i d a n p e r s y a r a t a n k a p a ln y a d is e s u a ik a n d e n g a n je n is k e g ia t a n
u s a h a p o k o k n y a s e r t a u n t u k m e la y a n i t r a y e k t id a k t e t a p d a n t id a k t e r a t u r a ta u t r a m p e r
a n t a r p e la b u h a n di I n d o n e s ia dengan p e la b u h a n di lu a r n e g e r i. T e rm a s u k usaha
p e r s e w a a n a n g k u ta n la u t b e r ik u t o p e r a t o m y a .
S a a t in i P S I b e r lo k a s i d i A u t o g r a p h T o w e r , T h a m r in N in e C o m p le x , J a la n M H . T h a m r in N o .
1 0 , D e s a / K e lu r a h a n K e b o n M e la t i, K e c . T a n a h A b a n g , K o t a A d m . J a k a r t a P u s a t, P r o v in s i D K I
J a k a r ta .
2 .1 0 P ro d u k d an L a ya n a n
P S I m e ru p a k a n p e ru s a h a a n d e n g a n k e g ia t a n u s a h a u ta m a d i b id a n g ja s a p e n g a n g k u ta n
b a r a n g m e la lu i j a lu r p e la y a r a n d o m e s t ik m a u p u n in t e r n a s io n a l, m e lip u ti p e n g a n g k u t a n b a r a n g
um um dan b a ra n g kh u su s. N a m u n , p e ru s a h a a n s a a t in i b e lu m b e ro p e ra s i s e c a ra r e s m i.
B e rd a s a rk a n re n c a n a p e ru s a h a a n , la y a n a n yang akan d is e d ia k a n o le h PSI y a itu
p e n g a n g k u t a n k o m o d it a s u ta m a b e r u p a b ijih n ik e l d a n b a tu k a p u r d e n g a n r u te o p e r a s io n a l
u ta m a b e r a d a d i p e r a ir a n S u la w e s i, y a itu r u t e K e n d a r i - L a n g a r a d a n r u t e R a h a - B a u b a u .
S e b a g a i p e r u s a h a a n y a n g b e r k o m it m e n p a d a p e m b a n g u n a n b e r k e la n ju t a n , P S I t id a k h a n y a
b e r f o k u s p a d a p e n c a p a ia n k in e r ja e k o n o m i, t e t a p i ju g a s e c a r a a k t if m e n ja la n k a n t a n g g u n g
ja w a b s o s ia l p e ru s a h a a n (C S R ), d e n g a n t u ju a n m e n d o ro n g k e m a ju a n in d u s t r i s e k a lig u s
m e n c ip t a k a n n ila i y a n g b e r k e la n ju t a n b a g i m a s y a r a k a t .
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A I S A L
♦
2.1 1 S tr u k tu r P e r m o d a la n
B e rd a s a rk a n A k ta P e rn y a ta a n K e p u tu s a n Pem egang Saham PSI No. 52 Tanggal 23
S e p te m b e r 2 0 2 5 o le h A n a s t a s ia C h a n d ra , S .H ., M .K n ., N o t a r is d i T a n g e ra n g , susunan
p e m e g a n g s a h a m P S I a d a la h s e b a g a i b e r ik u t:
Persentase
Pemegang Saham Lembar Saham Jumlah
Kepemilikan
P T A n a g a G ro u p In d o n e s ia 4 9 .5 0 0 9 9 ,0 0 % 4 9 .5 0 0 .0 0 0 .0 0 0
P T G a lle y A d h ik a A rn a w a m a 500 1 ,00% 5 0 0 .0 0 0 .0 0 0
Jumlah 50.000 100,00% 50.000.000.000
2 .1 2 S u s u n a n M a n a je m e n d a n S tu k tu r O rg a n is a s i
B e r d a s a r k a n A k t a P e r n y a t a a n K e p u t u s a n P e m e g a n g S a h a m P S I N o . 3 3 T a n g g a l 3 0 J u li 2 0 2 5
o le h A n a s t a s ia C h a n d r a , S . H ., M .K n ., N o t a r is d i T a n g e r a n g , s u s u n a n D ir e k s i d a n Dewan
K o m is a r is P S I p e r 3 0 S e p t e m b e r 2 0 2 5 a d a la h s e b a g a i b e r ik u t :
D e w a n K o m is a r is
K o m is a r is : Ib u G r a c e T ju g ia r t o
D ir e k s i
D ir e k t u r : B a p a k J u s tin W id ja ja
B e r ik u t s t r u k t u r o r g a n is a s i s e h u b u n g a n d e n g a n k e g ia t a n o p e r a s io n a l P S I:
Sumber: Manajemen PSI
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2 .1 3 L e g a lita s d a n P e riz in a n
L e g a lit a s d a n P e r iz in a n y a n g t e la h d im ilik i P S I a d a la h s e b a g a i b e r ik u t:
a. A k t a P e n d ir ia n P e r s e r o a n T e r b a t a s P T . P o s e id o n S h ip p in g In d o n e s ia N o . 11 t a n g g a l 2 3
J u n i 2 0 2 3 o le h A n a s t a s ia C h a n d r a , S .H ., M .K n ., N o t a r is d i T a n g e r a n g .
b. A k t a P e r n y a t a a n K e p u t u s a n P e m e g a n g S a h a m P T . P o s e id o n S h ip p in g I n d o n e s ia N o . 3 3
T a n g g a l 3 0 J u li 2 0 2 5 S e p t e m b e r 2 0 2 5 o le h A n a s t a s ia C h a n d r a , S .H ., M . K n . , N o t a r is d i
T a n g e ra n g .
c. A k t a P e r n y a t a a n K e p u tu s a n P e m e g a n g S a h a m P S I N o . 5 2 T a n g g a l 2 3 S e p t e m b e r 2 0 2 5
o le h A n a s t a s ia C h a n d r a , S .H ., M .K n ., N o t a r is d i T a n g e r a n g .
d. N P W P N o . 3 9 . 4 4 9 . 7 3 0 . 9 - 0 7 2 . 0 0 0 a ta s n a m a P T . P o s e id o n S h ip p in g In d o n e s ia .
e. Nom or In d u k B e ru s a h a ( N IB ) No. 0307230084094, d ik e lu a r k a n o le h M e n te r i
I n v e s t a s i/ K e p a la B a d a n K o o r d in a s i P e n a n a m a n M o d a l, t a n g g a l 3 J u li 2 0 2 3 .
f. S u r a t P e r s e t u ju a n S I U P A L N o . A L .0 0 1 / 2 0 2 / S P _ S I U P A L / X I I / 2 0 2 5 T a n g g a l 1 6 D e s e m b e r
2 0 2 5 a ta s n a m a P T . P o s e id o n S h ip p in g In d o n e s ia d ik e lu a r k a n o le h D ir e k t o r a t J e n d e r a l
P e r h u b u n g a n L a u t K e m e n t e r ia n P e r h u b u n g a n .
2 .1 4 T e n a g a K e rja
S e s u a i d e n g a n in f o r m a s i d a r i m a n a je m e n P S I b a h w a s a a t in i p e r u s a h a a n b e lu m b e r o p e r a s i
d a n p o s is i m a n a je m e n d ija la n k a n o le h tim o p e r a s io n a l y a n g d it u g a s k a n p e m e g a n g s a h a m P S I.
P e re k ru ta n k a ry a w a n p e n u h w a k tu s e c a ra r e s m i a k a n d ila k u k a n m u la i F e b r u a r i 2 0 2 6 d a n
d ih a r a p k a n d a p a t t e r is i s e b e lu m M e i 2 0 2 6 .
2 .1 5 T in ja u a n K in e rja K e u a n g a n
A n a lis is k in e r ja keuangan h is t o r is PSI d id a s a r k a n a ta s L a p o ra n Keuangan p e r io d e 30
S e p t e m b e r 2 0 2 5 y a n g t e la h d ia u d it o le h K a n t o r A k u n t a n P u b lik H e n d r a w in a t a H a n n y E r w in &
S u m a rg o .
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T i n j a u a n P o s is i K e u a n g a n
(D a la m R u p ia h )
L a p o r a n P o s is i K e u a n g a n 3 0 S e p te m b e r 2 0 2 5
A set
A set Lancar
Kas dan Setara Kas 19.380.981
Piutang Usaha -
Pajak Dibayar Dimuka 53.625
J u m la h A s e t L a n c a r 1 9 .4 3 4 .6 0 6
JU M LA H A SE T 1 9 .4 3 4 .6 0 6
L ia b ilit a s d a n E k u ita s
L ia b ilita s
L ia b ilit a s J a n g k a P e n d e k
Utang lainnya 32.038.975
Utang Pajak 9.750
Uang Muka Operasional 10.000.000
Bagian Yang jatuh tempo dalam Satu Tahun :
Pinjaman Bank -
J u m la h L ia b ilit a s J a n g k a P e n d e k 4 2 .0 4 8 .7 2 5
J U M L A H L IA B IL IT A S 4 2 .0 4 8 .7 2 5
E k u ita s
Modal Saham 50.000.000.000
Piutang Pemegang Saham (50.000.000.000)
Laba (Rugi) Ditahan (16.958.907)
Laba (Rugi) Tahun Berjalan (5.655.212)
J U M L A H E K U IT A S ( 2 2 .6 1 4 .1 1 9 )
J U M L A H L IA B IL IT A S & E K U IT A S 1 9 .4 3 4 .6 0 6
Sumber: Laporan Keuangan Audit PSI 30 September 2 0 2 5 , diolah
Aset
P e r io d e 3 0 S e p t e m b e r 2 0 2 5 , t o t a l a s e t P e r s e r o a n s e b e s a r R p 1 9 ,4 3 ju t a .
L i a b il i t a s
T o t a l lia b ilit a s P e r s e r o a n p e r io d e 3 0 S e p t e m b e r 2 0 2 5 s e b e s a r R p 4 2 , 0 5 ju t a .
E k u ita s
P e r io d e 3 0 S e p t e m b e r 2 0 2 5 , e k u it a s P e r s e r o a n n e g a t if R p 2 2 ,6 1 ju t a .
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T i n i a u a n L a b a ( R u g i)
(Dalam Rupiah)
Laporan Laba Rugi 30 September 2025
P e n d a p a ta n U s a h a -
Beban Langsung -
L a b a K o to r -
B eban U saha
B e b a n U m u m d a n A d m in is tra s i (4 .5 9 0 .0 6 4 )
P a ja k P e n g h a s ila n F inal -
J u m la h B e b a n U s a h a (4 .5 9 0 .0 6 4 )
L a b a (R u g i) U s a h a (4.590.064)
P e n g h a s ila n (B e b a n ) L a in -la in
L a b a (R u g i) s e lis ih k u rs - n e to (5 6 .4 4 3 )
Beban K euangan (1 .0 0 8 .7 0 5 )
P e n g h a s ila n (B e b a n ) L a in -la in - B e rsih (1 .0 6 5 .1 4 8 )
L a b a (R u g i) S e b e lu m P a ja k (5.655.212)
M a n fa a t (B e b a n ) P a ja k P e n g h a s ila n
P a ja k K ini
.
L a b a (R u g i) B e r s ih T a h u n B e rja la n (5.655.212)
Sumber: Laporan Laba Rugi Perseroan 30 September 2025, diolah
P e n d a p a ta n
P e r s e r o a n b e lu m m e n g h a s ilk a n p e n d a p a t a n d ik a r e n a k a n b e lu m b e r o p e r a s i s a m p a i p e r io d e 3 0
S e p te m b e r 2 0 2 5 .
B eban U saha
Beban usaha P e rs e o ra n p e r io d e 3 0 S e p t e m b e r 2 0 2 5 d a r i b e b a n um um dan a d m in is t r a s i
s e b e s a r R p . 4 , 5 9 ju t a .
R u g i T a h u n B e r ja la n
P e r s e r o a n m e n c a t a t k a n ru g i t a h u n b e r ja la n p e r io d e 3 0 S e p t e m b e r s e b e s a r R p . 5 , 6 5 ju t a .
P T H o te l F itr a In te r n a tio n a l T b k
Studi Ketayakan Bisnis Terkai Penambahan KBLI 21
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2 .1 6 G a m b a ra n P e r e k o n o m ia n d a n In d u s tri
P e r e k o n o m i a n D u n ia
P e r t u m b u h a n e k o n o m i g lo b a l d ip r o y e k s ik a n s e b e s a r 3 ,0 % u n t u k t a h u n 2 0 2 5 d a n 3 ,1 % p a d a
ta h u n 2 0 2 6 . P a d a k u a r ta l p e r t a m a t a h u n 2 0 2 5 , p e r t u m b u h a n e k o n o m i g lo b a l 0 ,3 p o in le b ih
t in g g i d a r i y a n g d ip r e d ik s i s e b e lu m n y a . P e r t u m b u h a n e k o n o m i A m e r ik a S e r ik a t ( A S ) m a s ih
m e la m b a t d ip e n g a r u h i b e r la n ju t n y a t a r if d a g a n g A S d a n b e r h e n t in y a a k t iv it a s p e m e r in t a h y a n g
t e r la m a s e p a n ja n g s e ja r a h d a n b e r d a m p a k p a d a le m a h n y a k o n d is i k e t e n a g a k e r ja a n . E k o n o m i
J e p a n g , T io n g k o k d a n In d ia m e la m b a t d ip e n g a r u h i o le h p e r m in ta a n d o m e s t ik y a n g b e lu m k u a t.
D i s is i la in , p e r t u m b u h a n e k o n o m i E r o p a t u m b u h le b ih t in g g i d ib a n d in g k a n p e r k ir a a n d id o r o n g
o le h p e n in g k a t a n konsum si ru m a h ta n g g a dan in v e s t a s i s e ir in g p e lo n g g a r a n k e b ija k a n
m o n e t e r . I n fla s i g lo b a l d ip e r k ir a k a n a k a n t u r u n m e n ja d i 4 , 2 % p a d a t a h u n 2 0 2 5 d a n 3 ,6 % p a d a
t a h u n 2 0 2 6 s e ja la n d e n g a n y a n g d ip r o y e k s ik a n p a d a b u la n A p r il. P r a k ir a a n in f la s i a k a n t e t a p
d i a ta s t a r g e t d i A m e r ik a S e r ik a t d a n le b ih t e r k e n d a li d i n e g a r a - n e g a r a e k o n o m i b e s a r la in n y a .
P e r k e m b a n g a n E k o n o m i G lo b a l ( % )
Table 1. Overview of the World Economic Outlook Projections
(Percent change, unless noted otherwise)__________________________
Year over Year
Difference from April 0 4 over 0 4 2/
2025 WEO
Projections 1/ Projections
2023 2024 2025 2026 2025 2026 2024 2025 2026
W orld O utput 3.5 3.3 3.0 3.1 0.2 0.1 3.6 2.7 3.2
A dvanced Econom ies 1.8 1.8 1.5 1.6 0.1 0.1 1.9 1.4 1.7
United States 2.9 2.8 1.9 2.0 0.1 0.3 25 1.7 2.0
Euro Area 0.5 0.9 1.0 1.2 0.2 0.0 1.2 0.7 1.7
Germany -0 .3 -0.2 0.1 0.9 0.1 0.0 -0 .2 0.5 1.0
France 1.6 1.1 0.6 1.0 0.0 0.0 0.6 0.7 1.1
Italy 0.7 0.7 0.5 0.8 0.1 0.0 0.6 0.7 1.0
Spain 2.7 3.2 25 1.8 0.0 0.0 3.3 2.3 1.6
Japan 1.4 0.2 0.7 0.5 0.1 -0.1 1.4 -0 .2 0.8
United Kingdom 0.4 1.1 1.2 1.4 0.1 0.0 1.5 1.5 1.2
Canada 1.5 1.6 1.6 1.9 0.2 0.3 2.3 1.1 2.5
Other Advanced Economies 3/ 19 22 16 2.1 -0 2 0.1 1.8 22 1.7
Em erging Market a n d Developing
E conom ies 4.7 4.3 4.1 4.0 0.4 0.1 4.9 3.6 4.3
Emerging and Developing Asia 6.1 5.3 5.1 4.7 0.6 0.1 58 4.5 5.2
China 5.4 5.0 48 4.2 0.8 0.2 5.4 3.8 4.7
India 4/ 9.2 6.5 64 6.4 0.2 0.1 7.4 6.4 6.4
Emerging and Developing Europe 3.6 3.5 1.8 2.2 -0 .3 0.1 33 1.5 2.0
Russia 4 1 4.3 0.9 1.0 -0 6 0.1 4.5 -0.1 0.5
Latin Amenca and the C anbbean 24 2.4 22 2.4 0.2 0.0 24 1.9 28
Brazil 3.2 34 23 2.1 0.3 0.1 3.3 2.4 2.3
Mexico 3.4 1.4 02 1.4 0.5 0.0 0.4 0.3 2.2
Middle East and Central Asia 2.4 24 3.4 35 0.4 0.0
Saudi Arabia 0.5 2.0 36 3.9 0.6 0.2 4.4 3.6 3.9
S ub-Saharan Afnca 3.6 4.0 4.0 4.3 0.2 0.1
Nigena 29 3.4 3.4 32 0.4 0.5 3.7 4.0 4.2
South Afnca 0.8 0.5 1.0 1.3 0.0 0.0 0.5 1.4 0.9
M e m o ra n d u m
World Growth B ased on Market Exchange
Rates 29 2.8 2.5 2.6 0.2 0.2 3.0 2.2 2.7
European Union 0.7 1.2 1.3 1.4 0.1 -0.1 1.6 1.1 1.7
ASEAN-5 5/ 4 1 4.6 4.1 4.1 0.1 0.2 4.8 4.0 5.0
Middle East and North Afnca 2.4 1.9 32 3.4 0.6 0.0
Emerging Market and Middle-Income
Economies 4 7 4.3 4.0 3.9 0.3 0.1 4.9 3.6 4.3
Low-Income Developing Countries 4.1 4.0 4.4 5.0 0.2 -0 .2
World Trade Volum e (g o o d s and serv ic es)
6/ 1.0 3.5 2.6 1.9 0.9 -0 .6
Advanced Economies 0.2 2.0 1.8 1.2 0.2 -0 .8
Emerging Market and Developing Economies 2.3 5.8 3.8 3.2 2.0 0.0
C om m odity P rices
Oil 7/ -1 6 .4 -1 .8 -1 3 9 -5 .7 1.6 11 -10.1 -1 1 .3 -0 .7
Nonfuel (average based on world commodity
import weights) -5 .7 3.7 7.9 2.0 3.5 1.8 8.3 6.6 -0 .5
World C o n su m e r P rice s 8/ 6.6 5.6 4.2 3.6 -0.1 0.0 4.8 3.5 2.9
Advanced Economies 91 4.6 2.6 2.5 2.1 0.0 -0.1 24 2.4 2.0
Emerging Market and Developing Economies
8/ 8.0 7.7 5.4 4.5 -0.1 -0.1 6.6 4.4 3.5
Sumber: website IMF
P T H o te l F itr a In te r n a tio n a l T b k
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P e r e k o n o m ia n In d o n e s ia
P e r t u m b u h a n e k o n o m i I n d o n e s ia t e t a p b a ik d a n p e r lu t e r n s d it in g k a t k a n a g a r s e s u a i d e n g a n
k a p a s it a s p e r e k o n o m ia n . E k o n o m i I n d o n e s ia p a d a t r iw u la n III 2 0 2 5 t u m b u h s e b e s a r 5 ,0 4 %
(ye a r on year/ y o y ) , d it o p a n g o le h k in e r ja e k s p o r y a n g t e t a p b a ik s e r t a k o n s u m s i P e m e r in t a h
y a n g m e n in g k a t s e ir in g d e n g a n p e r c e p a t a n b e la n ja p e m e r in t a h p e r lu t e r n s d id o r o n g s e h in g g a
d a p a t m e m p e r k u a t p e r m in t a a n d o m e s t ik . S e c a r a s e k to r a l, s e b a g ia n b e s a r L a p a n g a n U s a h a
( L U ) u t a m a m e n u n ju k k a n k in e r ja p o s itif, t e r m a s u k L U in d u s t r i p e n g o la h a n , L U p e r d a g a n g a n
b e s a r d a n e c e r a n , s e r t a L U in f o r m a s i d a n k o m u n ik a s i.
Tabel : P e r t u m b u h a n E k o n o m i D a r i S is i P e n g e l u a r a n
Kom ponen 2024 2024 2025
1 II III IV 1 II III
Konsumasi Rumah Tangga 4,91 4,93 4,91 4,98 4,94 4,95 4,97 4,89
Konsumsi Lembaga Nonprofit 24,13 9,79 11,46 6,06 12,48 3,07 7,82 4,28
yang Melayani Rumah Tangga
Konsumsi Pemerintah 20,44 2,03 4,62 4,17 6,61 -1,37 -0,33 5,49
Investasi (PMTDB) 3,78 4,42 5,16 5,03 4,61 2,12 6,99 5,04
Investasi Bangunan 5,46 5,31 6,02 5,26 5,51 1,35 4,89 3,02
Investigasi Non Bangunan -0,78 1,97 2,96 4,40 2,23 4,32 12,93 10,34
Ekspor 1,48 8,13 8,79 7,63 6,51 6,44 10,95 9,91
Impor 1,50 7,79 11,92 10,36 7,95 4,00 11,48 1,18
PDB 5 ,1 1 5 ,0 5 4 ,9 5 5 ,0 2 5 ,0 3 4 ,8 7 5 ,1 2 5 ,0 4
S u m b e r: B ada n P u s a t S tatistik
P e r t u m b u h a n t e r ja d i p a d a h a m p ir s e lu r u h L U k e c u a li L U p e r t a m b a n g a n d a n p e n g g a lia n y a n g
m e n g a la m i k o n t r a k s i. L U y a n g m e m b e r ik a n k o n t r ib u s i t e r b e s a r b a g i p e r e k o n o m ia n In d o n e s ia
p a d a t r iw u la n III 2 0 2 5 y a itu L U in d u s t r i p e n g o la h a n d e n g a n t u m b u h s e b e s a r 5 , 5 4 % ( y o y ) .
G r a fik : P D B M e n u ru t L a p a n g a n U sah a
PT Hotel Fitra In ternation al Tb k
Studi Kelayakan Bisnis Terkai Penambahan KBLI 29
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S e c a r a s p a s ia l, p e r t u m b u h a n e k o n o m i y a n g t in g g i t e r c a t a t d i w ila y a h J a w a d a n S u la w e s i-
M a lu k u - P a p u a ( S u la m p u a ) . D a r i s is i d o m e s t ik , p e r t u m b u h a n e k o n o m i I n d o n e s ia t e t a p b a ik d a n
p e r lu d it in g k a t k a n agar sesuai dengan k a p a s it a s p e r e k o n o m ia n . Pada t r iw u la n IV 2025,
p e r t u m b u h a n e k o n o m i d ip e r k ir a k a n m e n in g k a t d id u k u n g s t im u lu s f is k a ll m e la lu i im p le m e n t a s i
p r o y e k p r io r it a s d a n P a k e t K e b ija k a n E k o n o m i P e m e r in t a h 2 0 2 5 s e r t a b a u r a n k e b ija k a n B a n k
I n d o n e s ia y a n g m e n d o r o n g p e r t u m b u h a n e k o n o m i d e n g a n t e t a p m e n ja g a s t a b ilit a s . K o n s u m s i
r u m a h t a n g g a d ip e r k ir a k a n t u m b u h le b ih t in g g i d id o r o n g k e n a ik a n e k s p e k t a s i p e n g h a s ila n ,
k h u s u s n y a p a d a k e lo m p o k m e n e n g a h k e b a w a h , s e ja la n t a m b a h a n b a n t u a n s o s ia l p e m e r in t a h
s e r t a k e n a ik a n m o b ilit a s d a n a k t iv it a s m a s y a r a k a t m e n je la n g p e r a y a a n N a ta l d a n T a h u n B a r u .
In v e s t a s i, k h u s u s n y a n o n b a n g u n a n , d ip e r k ir a k a n le b ih t in g g i t e r c e r m in d a r i in d e k s P rom pt
M anufacturing Index ( P M I ) y a n g t e t a p p a d a le v e l e k s p a n s if .
D engan p e rk e m b a n g a n te rs e b u t, p e rtu m b u h a n e k o n o m i ta h u n 2025 d ip e r k ir a k a n b e ra d a
d a la m k is a r a n 4 ,7 -5 ,5 % % dan akan m e n in g k a t pada 2026. Bank In d o n e s i akan te rn s
m e m p e rk u a t b a u ra n k e b ija k a n m e la lu i b a u ra n k e b ija k a n m o n e te r, m a k r o p r u d e n s ia l, dan
s y s t e m p e m b a y a r a n y a n g b e r s in e r g i d e n g a n k e b ija k a n s t im u lu s f is k a l d a n s e k t o r riil p e m e r in t a h
u n t u k m e n d o r o n g p e r t u m b u h a n e k o n o m i le b ih t in g g i d a n t e t a p m e n ja g a s t a b ilita s .
N e r a c a P e m b a y a r a n In d o n e s ia
N e ra c a P e m b a y a ra n I n d o n e s ia ( N P I) te ta p t e r ja g a b a ik s e h in g g a m endukung k e ta h a n a n
e k s t e r n a l. P a d a t r iw u la n III 2 0 2 5 , t r a n s a k s i b e r ja la n t e t a p b a ik d e n g a n m e n c a t a t s u r p lu s s e ja la n
d e n g a n k e n a ik a n e k s p o r n o n m ig a s , d it o p a n g o le h e k s p o r m in y a k k e la p a s a w it ( C P O ) k e In d ia ,
lo g a n m u lia d a n p e r h ia s a n k e S w is s , s e r t a b a tu b a r a k e T io n g k o k . S e m e n t a r a d a r i t r a n s a k s i
m o d a l d a n f in a n s ia l, p e n a n a m a n m o d a l la n g s u n g d ip e r k ir a k a n t e t a p p o s it if s e ja la n p r o s p e k
e k o n o m i d o m e s t ic y a n g t e t a p b a ik s e d a n g k a n in v e s t a s i p o r t o f o lio d ip e r k ir a k a n m e n g a la m i net
ou tflow s s e ir in g m e n in g k a t n y a k e t id a k p a s t ia n p a s a r k e u a n g a n g lo b a l. P a d a t r iw u la n IV 2 0 2 5 ,
in v e s t a s i p o r t o f o lio h in g g a 1 7 N o v e m b e r 2 0 2 5 m e m b a ik y a n g m e n c a t a t n e t inflow s s e b e s a r 1 ,8
m ilia r d o la r A S t e r u t a m a d it o p a n g a lir a n m a s u k in v e s t a s i k e s a h a m . P o s is i C a d a n g a n d e v is a
p a d a a k h ir O k t o b e r 2 0 2 5 m e n in g k a t m e n ja d i s e b e s a r 1 4 9 ,9 m ilia r d o la r A S , s e ta r a d e n g a n
p e m b ia y a a n 6 ,2 b u la n im p o r a ta u 6 ,0 b u la n im p o r d a n p e m b a y a ra n u ta n g lu a r n e g e ri
P e m e r in t a h , s e r t a b e r a d a d i a t a s s t a n d a r k e c u k u p a n in t e r n a s io n a l s e k it a r 3 b u la n im p o r .
PT Hotel Fitra In ternation al Tbk
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Tabel : N e r a c a P e r d a g a n g a n In d o n e s ia
2023 2024* 2025
K om ponen
I II III IV T o ta l I II III IV T o ta l 1* II* III**
T r a n s a k s i B e r ja la n 2 ,9 - 2 ,3 -1 ,3 -1 ,4 - 2 ,0 -2 ,4 - 3 ,0 -2 ,0 -1 ,2 - 8 ,7 -0 ,2 - 2 ,7 4 ,0
A . B a ra n g 1 4 ,8 1 0 ,0 1 0 ,2 1 1 ,4 4 6 ,3 9 ,3 1 0 ,0 9 ,2 1 1 ,3 3 9 ,8 1 3 ,0 1 0 ,6 1 6 ,1
E k s p o r, fo b 6 6 ,8 6 1 ,6 6 3 ,5 6 5 ,9 2 5 7 ,7 6 1 ,9 6 2 ,3 6 7 ,5 7 1 ,3 2 6 3 ,1 6 5 ,9 6 8 ,0 7 3 ,9
Im p o r, fo b -5 2 ,1 -5 1 ,6 -5 3 ,3 -5 4 ,5 -2 1 1 ,4 -5 2 ,6 -5 2 ,3 -5 8 ,3 -6 0 ,0 - 2 2 3 ,3 -5 3 ,0 -5 7 ,4 -5 7 ,8
a . N o n m ig a s 1 9 ,0 1 5 ,2 1 6 ,0 1 7 ,7 6 7 ,8 1 5 ,1 1 5 ,2 1 4 ,7 1 7 ,8 6 2 ,7 1 8 ,8 1 5 ,7 2 0 ,9
b . M ig a s - 3 ,9 - 4 ,7 - 5 ,4 -5 ,9 -1 9 ,9 - 5 ,5 4 ,6 4 ,4 - 5 ,1 -1 9 ,6 4 ,7 4 ,2 4 ,8
B . J a s a - ja s a - 4 ,5 -4 ,5 -3 ,9 4 ,8 -1 7 ,7 4 ,2 - 5 ,0 4 ,2 - 5 ,2 -1 8 ,6 -5 ,5 -5 ,5 4 ,3
C . P e n d a p a t a n P r im e r - 8 ,8 -9 ,2 -8 ,8 -9 ,3 -3 6 ,0 - 8 ,8 - 9 ,4 -8 ,5 - 9 ,0 -3 5 ,9 -9 ,3 -9 ,8 - 9 ,4
D . P e n d a p a ta n 1 ,4 1 ,4 1 ,3 1 ,3 5 ,4 1 ,3 1 ,4 1 ,5 1 ,7 6 ,0 1 ,6 1 ,7 1 ,7
S ekunder
T ra n s a k s i M o d a l d a n 4 ,0 - 4 ,4 - 0 ,5 1 0 ,8 9 ,9 - 2 ,4 2 ,6 8 ,0 9 ,4 1 7 ,7 -0 ,4 -5 ,2 - 8 ,1
F in a n s ia l
1 . In v e s ta s i L a n g s u n g 4 ,4 3 ,9 2 ,7 3 ,4 1 4 ,4 4 ,9 2 ,3 5 ,1 3 ,4 1 5 ,7 2 ,5 2 ,6 2 ,5
2 . I n v e s t a s i P o r t o f o lio 3 ,0 -2 ,6 -3 ,0 4 ,9 2 ,2 -2 ,1 3 ,2 9 ,8 - 2 ,5 8 ,3 1 ,0 - 8 ,1 - 7 ,1
3 . In v e s ta s i L a in n y a - 3 ,6 -5 ,6 - 0 ,1 2 ,4 -6 ,9 4 ,8 -3 ,3 -7 ,2 8 ,5 - 6 ,7 4 ,2 0 ,3 -3 ,4
N e r a c a K e s e lu m h a n 6 ,5 - 7 ,4 -1 ,5 8 ,6 6 ,3 - 6 ,0 -0 ,6 5 ,9 7 ,9 7 ,2 -0 ,8 - 6 ,7 -6 ,4
‘ C a d a n g a n D e v is a 1 4 5 ,2 1 3 7 ,5 1 3 4 ,9 1 4 6 ,4 1 4 6 ,4 1 4 0 ,4 1 4 0 ,2 1 4 9 ,9 1 5 5 ,7 1 5 5 ,7 1 5 7 ,1 1 5 2 ,6 1 4 8 ,7
D a l a m b u la n i m p o r 6 ,2 6 ,0 6 ,0 6 ,5 6 ,5 6 ,2 6 ,1 6 ,4 6 ,5 6 ,5 6 ,5 6 ,1 6 ,0
d a n p e m b a y a ra n U LN
p e m e r in ta h
• T r a n s a k s i B e r ja la n 0 ,9 -0 ,7 -0 ,4 -0 ,4 - 0 ,1 - 0 ,7 -0 ,9 - 0 ,6 -0 ,3 -0 ,6 -0 ,1 - 0 ,8 1,1
(% P D B )
S u m b e r: B ank Indonesia. *A n g k a s e m enta ra; * * A n g k a s a n g a t sem entara
I n f la s i
In f la s i s e c a r a u m u m t e t a p t e r ja g a d a la m k is a r a n s a s a r a n . I n fla s i IH K p a d a S e p t e m b e r 2 0 2 5
t e r c a t a t s e b e s a r 2 ,6 5 % ( y o y ) . In f la s i in ti t e t a p r e n d a h s e b e s a r 2 ,1 9 % ( y o y ) , d ip e n g a r u h i o le h
p e r t u m b u h a n e k o n o m i y a n g m a s ih d ib a w a h k a p a s it a s s e r t a d id u k u n g k o n s is t e n s i s u k u b u n g a
k e b ija k a n m o n e te r Bank I n d o n e s ia d a la m m e n ja n g k a r e k s p e k t a s i in f la s i sesuai dengan
s a s a r a n n y a d a n im ported inflation y a n g r e n d a h . I n fla s i k e lo m p o k a dm inistered p rices ( A P ) ju g a
t e t a p r e n d a h s e b e s a r 1 ,1 0 % ( y o y ) s e ir in g m e n u r u n g n y a t a r if a n g k u t a n d a n b e n s in d it e n g a h
k e n a ik a n h a r g a ju a l e c e r a n r o k o k . S e m e n t a r a itu , in f la s i k e lo m p o k volatile food ( V F ) m e n in g k a t
m e n ja d i 6 ,4 4 % ( y o y ) d id o r o n g t e r u t a m a o le h k e n a ik a n h a r g a k o m o d it a s c a b a i, b a w a n g , b e r a s
d a n d a g in g a y a m r a s s e ir in g b e r a k h ir n y a m a s a p a n e n d a n p e n in g k a t a n b ia y a in p u t p r o d u k s i.
In fla s i p a d a t a h u n 2 0 2 5 d a n 2 0 2 6 t e t a p t e r ja g a r e n d a h d a la m s a s a r a n 2 , 5 ± 1 % . In f la s i in ti
d ip e r k ir a k a n t e t a p r e n d a h s e ir in g e k s p e k t a s i in f la s i y a n g t e r ja n g k a r d a la m s a s a r a n , k a p a s it a s
ekonom i yang m a s ih b e s a r, im ported inflation y a n g t e r k e n d a li, dan dam pak p o s it if d a r i
d ig it a lis a s i. S e m e n ta ra itu , in f la s i V F d ip e r k ir a k a n te ta p t e r k e n d a li d id u k u n g o le h s in e r g i
p e n g e n d a lia n in f la s i o le h T im P e n g e n d a lia n In fla s i P u s a t / D a e r a h ( T P I P / T D I P ) d a n p e n g u a t a n
im p le m e n t a s i P r o g r a m K e t a h a n a n P a n g a n N a s io n a l.
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K J P P
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E di A n d e s ta
O
d an R e k a n
G r a f ik : In f l a s i In d o n e s i a
I n f l a s i I n d o n e s ia
A d m in is te re d 16
2020 2021 2022 2023 2024 2025
Sumber: Badan Pusat Statistik
N i l a i T u k a r R u p ia h
N ila i t u k a r R u p ia h t e t a p t e r k e n d a li d id u k u n g k e b ija k a n s t a b ilis a s i B a n k In d o n e s ia d i T e n g a h
k e t id a k p a s t ia n g lo b a l y a n g t in g g i. N ila i t u k a r R u p ia h t e r h a d a p d o la r A S p a d a S e p t e m b e r 2 0 2 5
( h in g g a 1 6 S e p t e m b e r 2 0 2 5 ) m e n g u a t s e b e s a r 0 ,3 0 % ( p tp ) d ib a n d in g k a n d e n g a n le v e l a k h ir
A g u s t u s 2 0 2 5 . S t a b ilit a s n ila i t u k a r R u p ia h d id u k u n g o le h k o n s is t e n s i k e b ija k a n s t a b ilis a s i B a n k
I n d o n e s ia di Tengah t in g g in y a k e t id a k p a s t ia n pasar keuangan g lo b a l s e rta p e n in g k a t a n
k o n v e r s i v a la s k e R u p ia h o le h e k s p o r t ir s e ir in g p e n e r a p a n p e n g u a t a n k e b ija k a n D e v is a H a s il
E k s p o r S u m b e r D a y a A la m ( D H E S D A ) . S e c a r a u m u m , p e r k e m b a n g a n R u p ia h r e la t iv e s ta b il
b ila d ib a n d in g k a n d e n g a n k e lo m p o k m a t a u a n g n e g a r a b e r k e m b a n g d a n n e g a r a m a ju . N a m u n ,
sam pai dengan a k h ir S e p te m b e r 2025 R u p ia h m e le m a h sebesar 1 ,0 5 % ( p tp ) a p a b ila
d ib a n d in g k a n le v e l a k h ir A g u s t u s 2 0 2 5 s e ir in g d e n g a n k e t id a k p a s t ia n y a n g c u k u p t in g g i.
Suku Bunga
P e n u r u n a n s u k u b u n g a p a s a r u a n g d a n im b a l h a s il S u r a t B e r h a r g a N e g a r a ( S B N ) s e ja la n
d e n g a n p e lo n g g a r a n k e b ija k a n m o n e t e r B a n k I n d o n e s ia p e r lu d iik u t i d e n g a n p e n u r u n a n s u k u
b u n g a p e r b a n k a n . S u k u b u n g a I N D O N I A t e r n s m e n g a la m i p e n u r u n a n s e b e s a r 1 4 4 b p s d a r i
6 ,0 3 % pada a w a l ta h u n 2025 m e n ja d i 4 ,5 9 % pada 16 S e p te m b e r 2 0 2 5 s e ir in g dengan
penurunan Bl-rate sebesar 125 bps sejak September 2024 di pasar uang. Suku bunga
S e k u r it a s R u p ia h B a n k I n d o n e s ia ( S R B I ) u n t u k t e n o r 6 , 9 , d a n 1 2 b u la n ju g a m e n g a la m i
p e n u r u n a n m a s in g - m a s in g s e b e s a r 2 1 0 b p s , 2 1 3 b p s d a n 2 1 9 b p s s e ja k a w a l 2 0 2 5 m e n ja d i
5 , 0 6 % ; 5 ,0 7 % ; d a n 5 ,0 8 % p a d a 1 2 S e p t e m b e r 2 0 2 5 . I m b a l h a s il S B N u n t u k t e n o r 2 ta h u n
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m e n u r u n s e b e s a r 1 8 5 b p s d a r i 6 ,9 6 % p a d a a w a l 2 0 2 5 m e n ja d i 5 ,1 1 % p a d a 1 6 S e p te m b e r
2 0 2 5 , s e m e n t a r a u n t u k t e n o r 1 0 ta h u n m e n u r u n s e b s a r 9 4 b p s d a r i t in g k a t t e r t in g g i 7 ,2 6 %
pada p e rte n g a h a n J a n u a ri 2 0 2 5 m e n ja d i 6 ,3 2 % . S e m e n ta ra itu , p e n u ru n a n suku bunga
p e rb a n k a n m a s ih m e n g a la m i p e r la m b a t a n s e h in g g a m a s ih d ip e r lu k a n upaya p e rc e p a ta n .
P e n u ru n a n B l- r a t e s e b e s a r 1 2 5 b p s m a s ih le b ih t in g g i d ib a n d in g k a n dengan suku bunga
d e p o s it o 1 b u la n y a n g t u r u n s e b e s a r 1 6 b p s d a r i 4 , 8 1 % p a d a a w a l 2 0 2 5 m e n ja d i 4 ,6 5 % p a d a
A g u s t u s 2 0 2 5 . H a l t e r s e b u t t e r u t a m a d ip e n g a r u h i o le h p e m b e r ia n sp e cia l rate k e p a d a d e p o s a n
b e s a r y a n g m e n c a p a i 2 5 % d a r i t o t a l d a n a p ih a k k e t ig a b a n k . S u k u b u n g a k r e d it p e r b a n k a n
m a s ih m e la m b a t , t e r c a t a t p e n u r u n a n 7 b p s d a r i 9 ,2 0 % p a d a a w a l 2 0 2 5 m e n ja d i s e b e s a r 9 ,1 3 %
p a d a A g u s tu s 2 0 2 5 .
G r a f ik : S u k u B u n g a K e b ija k a n B l d a n In d O N IA
S u k u B u n g a K e b ija k a n B l d a n I n d O N I A
8
DFRate
V t t y 4 5 7 6 9 '01112 1 3 i S 6 8 9 101112 ' 6 3 S 6 ’ 5 1J1T21 J -t ;■ t 7 '■< C'112 ' 2 i $ 7 8
Sumber: Bank Indonesia
In d u s tr i P e la y a r a n
I n d o n e s ia m e r u p a k a n s a la h s a tu n e g a r a k e p u la u a n t e r b e s a r te r d ir i d a r i 1 7 . 4 9 9 p u la u d e n g a n
wilayah perairan yang luas diantara gugusan pulau-pulau. Wilayah perairan yang luas
m e n d o r o n g in d u s t r i p e la y a r a n d i I n d o n e s ia m e m ilik i p e r a n y a n g s a n g a t p e n t in g u n t u k s is t e m
lo g is t ik n a s io n a l d a la m m e n d is t r ib u s ik a n b a r a n g d a n ja s a . S is t e m p e n g a n g k u t a n d e n g a n m o d a
t r a n s p o r t a s i la u t y a n g d ik e lo la d e n g a n b a ik d a n e fis ie n a k a n m e n in g k a t k a n d a y a s a in g e k o n o m i
d a n k o n e k t iv it a s d i s e lu r u h w ila y a h in d o n e s ia s e b a g a i n e g a r a k e p u la u a n .
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M e n u r u t U n d a n g - u n d a n g N o m o r 1 7 T a h u n 2 0 0 8 t e n t a n g P e la y a r a n , in d u s t r i in i d ib a g i m e n ja d i
3 k a te g o r i s e b a g a i b e r ik u t :
a. A n g k u ta n la u t, m e lip u ti a n g k u ta n la u t d a la m n e g e r i, a n g k u ta n la u t lu a r n e g e r i,
a n g k u ta n la u t k h u s u s , d a n a n g k u ta n la u t p e la y a r a n r a k y a t.
b. A n g k u ta n s u n g a i d a n d a n a u
c. A n g k u ta n p e n y e b ra n g a n
P e n g a n g k u t a n d a la m n e g e r i t e r b a g i m e n ja d i 3 je n is t r a n s p o r t a s i y a it u a n g k u a t a n u d a r a , la u t
d a n d a r a t . A n g k u t a n u d a r a s e b a g ia n b e s a r d ig u n a k a n u n t u k m e n g a n g k u t b a r a n g k o n s u m s i
d e n g a n b e r a t r in g a n p e r s a t u a n , s e p e r t i m a k a n a n m in u m a n d a n p a k a ia n . A n g k a t a n d a r a t d a p a t
m engangkut sem ua je n is b a ra n g . S e m e n ta ra a n g k u ta n la u t c e n d e ru n g m e la k u k a n
p e n g a n g k u t a n b a r a n g b e r a t, m u la i d a i m u a ta n m in e r a l s t r a t e g is h in g g a b a h a n b a n g u n a n d a n
p e r a la t a n b e r a t.
D a r i je n is ja s a p e la y a r a n n y a , je n is k a p a l b e s e r t a c a k u p a n o p e r a s io n a ln y a t e r d ir i d a r i:
a. A n g k u t a n b a r a n g : A n g k u t a n g e n e r a l c a r g o , k a p a l k o n t a in e r d a n a n g k u t a n c u r a h
b. A n g k u ta n p e n u m p a n g : K a p a l R o -R o
c. A n g k u t a n c a ir d a n g a s : K a p a l t a n k e r
d. A n g k u t a n k h u s u s : A n g k u t a n k a p a l k h u s u s , a n g k u ta n le p a s p a n t a i, a n g k u t a n T u g & B a r g e
e. I n d u s t r i p e r ik a n a n : A n g k u t a n p e r ik a n a n
f. J a s a - ja s a t e r k a it k e g ia t a n a n g k u ta n a ir:
1) B o n g k a r m u a t b a r a n g : la y a n a n in i m e lip u t i p r o s e s p e m in d a h a n b a r a n g d a r i k a p a l k e
d a ra t a ta u s e b a lik n y a , yang m encakup penanganan f is ik b a ra n g , te rm a s u k
penanganan b a ra n g d e n g a n a la t k h u s u s . S e la in itu , la y a n a n in i ju g a m encakup
p e n g e lo la a n dokum en b a ra n g a n g k u t, s e rta pengaw asan k a rg o s e la m a p ro s e s
b e r la n g s u n g .
2) Jasa p e n g u ru s a n t r a n s p o r t a s i: la y a n a n yang m e n g a tu r k o o r d in a s i tra n s p o rta s i
b a r a n g d a r i t it ik a s a l h in g g a t u ju a n , m e n c a k u p p e n g e lo la a n k o o r d in a s i d a n in t e g r a s i
tra n s p o rta s i a n ta rm o d a .
3) A n g k u ta n p e r a ir a n p e la b u h a n : ja s a y a n g m e n y e d ia k a n tra n s p o rta s i b a ra n g a ta u
p e n u m p a n g d a la m w ila y a h p e la b u h a n , s e p e r t i p e n g a n g k u t a n a n t a r d e r m a g a a ta u
t r a n s f e r k a r g o a n t a r a p e la b u h a n d a n k a p a l.
4) P e n y e w a a n p e r a la t a n a n g k u t a n la u t a ta u p e r a la t a n ja s a t e r k a it d e n g a n a n g k u ta n
la u t: la y a n a n p e n y e d ia a n p e r a la t a n y a n g d ig u n a k a n d a la m k e g ia t a n p e la y a r a n a ta u
b o n g k a r m u a t d i p e la b u h a n . B e b e r a p a c o n t o h t e r m a s u k p e n y e w a a n a la t c r a n e , d a n
f o r k lif t .
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5) T a lly m a n d ir i: ja s a p e n c a t a t a n ju m la h d a n k o n d is i b a r a n g y a n g m a s u k a ta u k e lu a r
d a r i k a p a l s e c a r a m a n d ir i o le h p ih a k y a n g b e r w e n a n g , u n t u k m e m a s t ik a n a k u r a s i
d a ta k a rg o .
6) D epo p e ti kem as: la y a n a n p e n y im p a n a n dan p e n g e lo la a n p e ti kem as,
te rm a s u k p e r a w a t a n , p e r b a ik a n , d a n p e m e lih a r a a n p e ti k e m a s y a n g k is s in g a ta u
s e d a n g m e n u n g g u p e n g ir im a n .
7) P e n g e lo la a n kapal ( ship m an agem ent ): ja s a yang m encakup p e n g e lo la a n
o p e r a s io n a l k a p a l, s e p e r t i p e m e lih a r a a n , p e n y e d ia a n a w a k k a p a l, s e r t a m e m a s t ik a n
k a p a l b e r o p e r a s i s e s u a i d e n g a n r e g u la s i m a r it im .
8) P e ra n ta ra ju a l b e li d a n /a ta u sew a kapal (ship broker): ja s a p e ra n ta ra yang
m enghubungkan p ih a k y a n g in g in m e m b e li, m e n ju a l, a ta u m e n y e w a k a p a l, s e r t a
m e m b a n t u d a la m n e g o s ia s i d a n p e n g u r u s a n k o n tr a k .
9) K e a g e n a n A w a k K a p a l ( ship m anning agency)
1 0 ) K e a g e n a n k a p a l: la y a n a n y a n g m e n g e lo la r e k r u t m e n d a n p e n e m p a t a n a w a k k a p a l,
m e m a s t ik a n k u a lif ik a s i d a n k e p a t u h a n a w a k k a p a l t e r h a d a p s t a n d a r in t e r n a s io n a l.
1 1 ) P e r a w a t a n d a n p e r b a ik a n k a p a l ( ship repairing a n d m aintenance)
g. L a y a n a n p e n d u k u n g m a r it im la in :
1) A s u r a n s i p e r k a p a la n ( shipping insurance)
2) K e u a n g a n p e r k a p a la n ( shipping finance), p ia la n g p e r k a p a la n ( shipping broker)
3) J a s a k la s if ik a s i p e r k a p a la n ( ship p in g classification services)
4) M a n a je m e n p e r k a p a la n ( shipping m anagem ent)
5) B u n k e r k a p a l ( ship bunkering)
6) P e n y e d ia t e k n o lo g i in f o r m a t ik a m a r it im ( m aritim e IT )
7) L it b a n g m a r it im (m aritim e R & D )
8) P e n d id ik a n m a r it im (m aritim e education)
9) P e r a la t a n k a p a l (ship equipm ent)
1 0 ) D e s a in k a p a l (ship design)
1 1 ) G a la n g a n k a p a l (sh ip ya rd s)
I n d u s t r i p e la y a r a n d i In d o n e s ia s a n g a t b e r k a it a n d e n g a n k in e r ja s e k t o r p e la b u h a n t e r u t a m a
u n tu k m e n in g k a t k a n daya s a in g ekonom i m e la lu i s e k to r p e n g a n g k u ta n tra n s p o rta s i la u t.
P e la b u h a n d i I n d o n e s ia d ib a g i m e n ja d i 3 je n is y a itu p e la b u h a n y a n g d iu s a h a k a n , p e la b u h a n
y a n g t id a k d iu s a h a k a n d a n p e la b u h a n k h u s u s a ta u s w a s t a d e n g a n r in c ia n s e b a g a i b e r ik u t :
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a. P e la b u h a n y a n g d iu s a h a k a n o le h P T . P e la b u h a n In d o n e s ia ( P e lin d o ) d a n b a d a n u s a h a
p e la b u h a n la in n y a . P e la b u h a n k o m e r s ia l m e m ilik i f a s ilit a s y a n g s e s u a i u n t u k b e r a g a m
f a s ilit a s u n t u k b e r b a g a i k o m o d it a s , t e r m a s u k k a r g o p e ti k e m a s .
b. P e la b u h a n y a n g t id a k d iu s a h a k a n b e r a d a d ib a w a h D ir e k t o r a t J e n d e r a l P e r h u b u n g a n L a u t
K e m e n t e r ia n P e rh u b u n g a n yang c e n d e ru n g t id a k m e n g u n t u n g k a n dan hanya s e d ik it
b e r n ila i s t r a t e g is .
c. P e la b u h a n k h u s u s a ta u p e la b u h a n s w a s t a m e la y a n i k e b u t u h a n s u a t u p e r u s a h a a n s a ja
( b a ik s w a s t a a ta u m ilik n e g a r a ) d a la m s e ju m la h in d u s t r i s e p e r t i p e r t a m b a n g a n , m in y a k
d a n g a s , p e r ik a n a n , k e h u t a n a n d a n s e b a g a in y a .
K e g ia t a n d i p e la b u h a n t e r d ir i d a r i b o n g k a r m u a t b a r a n g , k u n ju n g a n k a p a l d a n k e b e r a n g k a t a n
k a p a l s e r t a k e d a t a n g a n p e n u m p a n g u n t u k p e la y a r a n d a la m m a u p u n lu a r n e g e r i. B o n g k a r a ta u
im p o r b a r a n g a d a la h p e m b o n g k a r a n b a r a n g ( p e ti k e m a s d a n n o n p e ti k e m a s ) d a r i k a p a l, b a ik
b a r a n g y a n g d ia n g k u t d a r i p e la b u h a n a s a l d i In d o n e s ia ( b o n g k a r ) a ta u d a r i lu a r n e g e r i. M u a t
a ta u e k s p o r b a r a n g a d a la h p e m u a t a n b a r a n g ( p e ti k e m a s d a n n o n p e ti k e m a s ) k e k a p a l u n t u k
d ia n g k u t k e p e la b u h a n t u ju a n d i I n d o n e s ia ( m u a t ) a ta u k e lu a r n e g e r i ( e k s p o r ) . P e r k e m b a n g a n
b o n g k a r m u a t b a r a n g p e la y a r a n d a la m n e g e r i d i P e la b u h a n I n d o n e s ia s e b a g a i b e r ik u t :
G r a f i k : B o n g k a r M u a t B a r a n g P e la y a r a n D a la m N e g e r i d i P e la b u h a n In d o n e s ia (0 0 0 to n )
2 0 1 6 -2 0 2 4
B o n g k a r M u a t B a r a n g P e la y a r a n D a la m N e g e r i d i P e l a b u h a n I n d o n e s ia
500.000
45 0 .0 0 0 434.055
* B ongkar M uat
Sumber: Badan Pusat Statistik
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P a d a ta h u n 2 0 2 3 , v o lu m e b o n g k a r m u a t b a r a n g u n t u k p e la y a r a n d a la m n e g e ri p a d a 2 0 2 4
m e n g a la m i p e n in g k a t a n s e b e s a r 1 0 , 7 9 % u n t u k b o n g k a r d a n m e n in g k a t 1 2 , 5 6 % u n tu k m u a t
b a r a n g . P e la b u h a n s t r a t e g is d i I n d o n e s ia b e r ju m la h 2 5 p e la b u h a n t e r le t a k d i 21 p r o v in s i y a n g
s e b a g ia n b e s a r k e g ia t a n p e la b u h a n d ila k u k a n d i p e la b u h a n t e r s e b u t . P a d a ta h u n 2 0 1 6 - 2 0 2 4 ,
k e g ia t a n b o n g k a r m u a t b a r a n g d a la m m a u p u n lu a r n e g e r i b e r f lu k t u a t if . S e m e n t a r a itu p a d a
p e la y a r a n lu a r n e g e r i, v o lu m e b o n g k a r m u a t b a r a n g m a s in g - m a s in g m e n g a la m i p e n in g k a t a n
s e b e s a r 1 2 ,4 8 % dan 1 6 ,5 6 % . K u n ju n g a n k a p a l d i p e la b u h a n I n d o n e s ia p a d a ta h u n 2024
m e n c a p a i 9 9 2 ,4 2 r ib u u n it a ta u n a ik 4 ,9 1 % d ib a n d in g ta h u n 2023. D engan v o lu m e to t a l
2 .1 4 5 , 8 2 ju t a g r o s t o n a s e ( G T ) , m a k a r a t a - r a t a G T k a p a l y a n g b e r k u n ju n g k e p e la b u h a n d i
I n d o n e s ia m e n c a p a i 2 , 1 6 r ib u G T a ta u n a ik 7 ,5 2 % d ib a n d in g t a h u n 2 0 2 3 .
G r a fik : B o n g k a r M u a t B a r a n g P e la y a r a n L u a r N e g e r i d i P e la b u h a n In d o n e s ia (0 0 0 to n )
2016 ■ 2024
B o n g k a r M u a t B a r a n g P e la y a r a n L u a r N e g e r i d i P e l a b u h a n I n d o n e s i a ( 0 0 0 t o n ) 2 0 1 6 ■
2024
450.000
405.236
400.000 388.971
358.610
349.095 347.660
350.000
313.175 310.180 317.699
300.000
272.404
250.000
i B ongkar
200.000 M uat
162.411
144.393
150.000
122859 H
105.491 QK11, 104.532 112 206
2.941 95113 92.164
100.000
50.000
0 IIIIIIII
2016 2017 2018 2019 2020 2021 2022 2023 2024
Sumber: Badan Pusat Statistik
P a d a p e r io d e ta h u n 2 0 1 5 - 2 0 1 9 , p a d a p e la y a r a n d a la m n e g e r i, k e n a ik a n v o lu m e b o n g k a r m u a t
b a r a n g t e r t in g g i t e r ja d i p a d a t a h u n 2 0 1 6 , s e b e s a r 1 3 ,4 6 % p a d a b o n g k a r b a r a n g d a n s e b e s a r
9 ,6 6 % pada m u a t b a ra n g . S e m e n ta ra itu , k e n a ik a n t e r t in g g i t e r ja d i pada bongkar m uat
p e la y a r a n lu a r n e g e r i t e r ja d i p a d a t a h u n 2 0 1 7 u n t u k b o n g k a r ( 1 3 ,5 0 % ) d a n t a h u n 2 0 1 8 u n t u k
m u a t ( 1 3 ,8 7 % ) .
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P ada p e r io d e 2 0 2 0 - 2 0 2 4 , v o lu m e m u a t b a ra n g p e la y a r a n d a la m n e g e ri d a n lu a r n e g e r i
m e n g a la m i p e n in g k a t a n . S e m e n t a r a itu , v o lu m e b o n g k a r b a r a n g d i p e la y a r a n d a la m n e g e r i
d a n lu a r n e g e r i c e n d e r u n g b e r flu k t u a s i. P a d a t a h u n 2 0 2 4 , b o n g k a r m u a t b a r a n g d i p e la y a r a n
d a la m n e g e r i m e n c a p a i 3 9 6 , 7 3 ju t a to n d a n 4 3 4 , 0 6 ju t a t o n . S e m e n t a r a itu b o n g k a r m u a t
b a r a n g d i p e la y a r a n lu a r n e g e r i m e n c a p a i 1 6 2 ,4 1 ju t a to n d a n 4 0 5 , 2 4 ju t a to n .
B e rd a s a rk a n p e ta ja la n in d u s t r i p e la y a r a n u n tu k p e r io d e 2024 - 2029, te rd a p a t upaya
p e m b e r d a y a a n in d u s t r i p e la y a r a n y a n g d ib a g i m e n ja d i 3 f a s e s e b a g a i b e r ik u t :
a. F a s e p e r t a m a b e r t u ju a n u n t u k m e n g a t a s i is u - is u p r io r it a s t in g g i d a n m e m b a n g u n fo n d a s i
yang kokoh bagi p e rk e m b a n g a n s e la n ju t n y a , dengan fo k u s pada p e n g u a ta n asas
c a b o ta g e dan beyond c a b o ta g e , p e n in g k a t a n p r o to k o l keam anan dan k e s e la m a t a n
m a r it im , s e r t a o p t im a lis a s i e fis ie n s i b ia y a o p e r a s io n a l p e la k u p e la y a r a n .
b. Fase kedua b e rfo k u s pada p e n g u a ta n dan p e m a n fa a ta n fo n d a s i yang te la h
d ib a n g u n d a la m f a s e p e r t a m a d e n g a n r e k o m e n d a s i r e g u la s i t u r u n a n y a n g m e n d u k u n g
in d u s t r i, m em bangun ik lim in o v a s i dan in v e s t a s i yang k o n d u s if , s e rta o p t im a lis a s i
dan p e r lu a s a n in f r a s t r u k t u r p e la y a r a n n a s io n a l.
c. F a s e k e t ig a m e n it ik b e r a t k a n p a d a m e m a s t ik a n p e r k e m b a n g a n in d u s t r i p e la y a r a n n a s io n a l
yang b e r k e la n ju t a n dan b e r k e s in a m b u n g a n , m e la lu i im p le m e n t a s i p r a k t ik ra m a h
lin g k u n g a n y a n g d it e r a p k a n t a n p a m e m u n c u lk a n g a n g g u a n t e r h a d a p in d u s t r i p e la y a r a n
n a s io n a l.
J a s a a n g k u t a n la u t n a s io n a l m e m ilik i m a r g in o p e r a s io n a l y a n g r e la t if k e c il, b e r k is a r a n t a r a 2 %
h in g g a 8 % . M a r g in o p e r a s io n a l y a n g k e c il d is e b a b k a n o le h b e b e r a p a f a k t o r u ta m a . P e r ta m a ,
in d u s t r i s a n g a t t e r p e n g a r u h o le h f lu k t u a s i h a r g a b a h a n b a k a r , k a r e n a b e s a r n y a k o n t r ib u s i
k o m p o n e n b a h a n b a k a r t e r h a d a p b ia y a o p e r a s io n a l k a p a l. K e d u a , k a p a l m e r u p a k a n a s e t y a n g
m e m ilik i la ju d e p r e s ia s i y a n g r e la t if le b ih s u lit u n t u k d ih a m b a t d ik a r e n a k a n s if a t a b r a s if d a r i a ir.
K e t ig a , k o m p e t is i d a la m in d u s t r i p e la y a r a n c e n d e r u n g t in g g i, t e r u t a m a d i n e g a r a k e p u la u a n
s e p e r t i I n d o n e s ia , s e h in g g a p e r u s a h a a n p e la y a r a n d ih a r u s k a n u n t u k m e n a w a r k a n t a r if y a n g
k o m p e t it if , s e h in g g a m a r g in k e u n t u n g a n m e n ja d i le b ih k e c il.
S e la in itu , in d u s t r i p e la y a r a n n a s io n a l ju g a m enghadapi r e g u la s i yang s e m a k in k e ta t,
t e r u t a m a e m is i k a rb o n dan p e rs y a ra ta n lin g k u n g a n la in n y a . U paya p e ru s a h a a n u n tu k
m e m a tu h i r e g u la s i b ia s a n y a m e m e r lu k a n in v e s t a s i besar pada t e k n o lo g i h ija u . Dengan
d e m ik ia n , m a r g in k e u n t u n g a n y a n g k e c il d e n g a n b ia y a o p e r a s io n a l y a n g b e s a r . D a la m ja n g k a
p e n d e k a k a n a d a in s e n t if f is k a l, u n t u k s is t e m p a ja k b e r u p a p e m b e b a s a n t e r h a d a p B B M d a n
ja s a k e p e la b u h a n u n t u k p e la y a r a n d o m e s t ik , d a n t in ja u a n u la n g k la s if ik a s i k a p a l s e b a g a i o b je k
p a ja k P B B K B d a n F S O / F S R O s e b a g a i o b je k p a ja k P B B .
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o
B o n g k a r m u a t b a r a n g in i m e r u p a k a n k e g ia t a n y a n g m e m p u n y a i a n d il t e r h a d a p p e r e k o n o m ia n
b a ik d a ri segi a k t iv it a s p e rh u b u n g a n la u t h in g g a p e n g a ru h n y a te rh a d a p pengem bangan
e k o n o m i d a e r a h . I n f o r m a s i m e n g e n a i je n is k o m o d it a s b a r a n g y a n g d ib o n g k a r d a n d im u a t d i
P e la b u h a n L a u t d ih a r a p k a n d a p a t m e m b a n t u p e la k u e k o n o m i d a la m m e n c a r i p e lu a n g u s a h a .
B o n g k a r m u a t b a r a n g p e la y a r a n d a la m n e g e r i d a p a t b e r u p a B a h a n P o k o k , B a h a n S tr a t e g is ,
M ig a s , N o n m ig a s d a n B a r a n g L a in n y a .
B e r d a s a r k a n k e lo m p o k k o m o d it a s d i 1 0 p e la b u h a n d i I n d o n e s ia , k e lo m p o k b a h a n s t r a t e g is
m e n d o m in a s i v o lu m e b o n g k a r d a la m n e g e r i y a itu s e b e s a r 2 5 , 4 2 ju t a t o n a ta u 4 0 , 2 4 p e r s e n
d a r i t o t a l v o lu m e b o n g k a r d i 1 0 p e la b u h a n y a n g d ia m a t i. L im a k o m o d it a s d e n g a n v o lu m e
t e r b e s a r u n t u k b a h a n s t r a t e g is t e r s e b u t m e lip u ti p u p u k ( 2 6 ,5 9 % ) , b a t u b a r a ( 2 2 ,3 0 % ) , s e m e n
( 1 3 ,9 6 % ) , b a ja / b e s i b e t o n ( 1 0 ,2 5 % ) , d a n p u lp (6 ,8 6 % ). S e m e n ta r a itu , k e lo m p o k b a ra n g
la in n y a m e n d o m in a s i v o lu m e m u a t b a r a n g p a d a p e la y a r a n d a la m n e g e r i s e b e s a r 3 1 , 5 6 ju t a
to n a ta u 5 9 , 0 6 % . J e n is k o m o d it a s d e n g a n v o lu m e t e r b e s a r u n t u k b a r a n g la in n y a t e r s e b u t
m e lip u t i p e ti kem as ( 3 7 ,6 9 % ) , k lin k e r ( 2 3 ,8 2 % ) , b a ra n g la in n y a ( 1 0 ,7 9 % ) , k a rg o um um
(9 ,3 1 % ), d a n a la t b e r a t ( 2 , 9 9 % ) . P a d a p e la y a r a n lu a r n e g e r i, k e lo m p o k b a r a n g la in n y a m e m ilik i
v o lu m e b o n g k a r b a ra n g p a lin g b e s a r , y a itu 5 1 , 2 3 ju t a to n a ta u 6 9 , 1 7 % d a r i to ta l v o lu m e
b o n g k a r b a r a n g d i s e p u lu h p e la b u h a n y a n g d ia m a t i. J e n is k o m o d it a s d e n g a n v o lu m e t e r b e s a r
u n t u k k e lo m p o k b a r a n g la in n y a t e r s e b u t m e lip u ti p e ti k e m a s ( 5 6 ,2 2 % ) , g a n d u m ( 2 5 ,4 4 % ) , g u la
t e t e s / m o la s s e s (2 ,5 9 % ), a la t b e r a t ( 1 , 9 6 % ) , d a n k a rg o um um (1 ,7 1 % ). S e ru p a dengan
b o n g k a r b a r a n g , k e lo m p o k b a r a n g la in n y a m e n d o m in a s i m u a t b a r a n g p a d a p e la y a r a n lu a r
n e g e r i s e b e s a r 4 3 , 2 8 ju t a t o n a ta u 7 9 , 9 3 % . B e b e r a p a k o m o d it a s b a r a n g la in n y a d e n g a n
v o lu m e t e r b e s a r m e lip u ti p e ti k e m a s ( 5 7 ,5 1 % ) , b u n g k il ( 1 0 ,0 5 % ) , b a h a n in d u s t r i ( 8 , 1 8 % ) , g u la
t e t e s / m o la s s e s ( 5 , 9 9 % ) , d a n c a n g k a n g ( 4 , 2 0 % ) .
M e n u r u t A s o s ia s i P r o fe s i K e s e la m a t a n P e r t a m b a n g a n I n d o n e s ia , p o t e n s i p e r t a m b a n g a n y a n g
b e r a n e k a r a g a m d a p a t m e n ja d i p e n o p a n g e k o n o m i n a s io n a l. J e n is u s a h a p e r t a m b a n g a n d a p a t
b e r u p a m in e r a l d a n b a t u b a r a y a n g m e m ilik i p r o s e s p e m b e n t u k a n d a n a s a l u s u l y a n g b e r b e d a .
S e k t o r p e r t a m b a n g a n d ia n t a r a n y a b e r u p a n ik e l d a n b a tu k a p u r .
I n d u s t r i N ik e l
N ik e l m e r u p a k a n u n s u r lo g a m b e r w a r n a p u tih k e p e r a k a n , m e n g k ila t , a g a k c o k la t k e e m a s a n
s e rta ta h a n k o ro s i y a n g um um d it e m u k a n d i k e r a k b u m i. P e m b e n tu k a n n ik e l m e lib a t k a n
p e la p u k a n in t e n s if y a n g b e r la n g s u n g s e la m a r ib u a n h in g g a ju t a a n t a h u n d ip e n g a r u h i ik lim
t r o p is d e n g a n c u r a h h u ja n t in g g i d a n t o p o g r a f i y a n g t e p a t . J e n is - je n is n ik e l y a n g a d a s a a t in i
t e r d ir i d a r i 2 b e n t u k u ta m a y a it u e n d a p a n s u lf id a m a g m a t ik d a n e n d a p a n la te n t, E n d a p a n
s u lf id a m a g m a t ik y a it u t e r b e n t u k d a r i m a g m a d a n m e n g a n d u n g m a g n e s iu m d a n s ilik a . S a la h
s a tu b ijih n ik e l s e la in s u lf id a y a it u n ik e l la t e r it . N ik e l la t e r it a d a la h e n d a p a n b ijih n ik e l y a n g
P T H o te l F itr a In te r n a tio n a l T b k
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b e r a s a l d a r i h a s il p r o s e s p e la p u k a n b a t u a n u lt r a b a s a y a n g k e r a p k a li d ig u n a k a n s e b a g a i b a h a n
bangunan.
K e m a m p u a n m e n a h a n k o r o s i d a n m e n a h a n p a n a s m e m b u a t n ik e l m e n ja d i k o m p o n e n u ta m a
d a la m p e m b u a t a n b a ja ta h a n k a r a t. S e la in itu , n ik e l ju g a d a p a t m e n y im p a n e n e r g i lis t r ik y a n g
b a ik s e h in g g a d a p a t d im a n f a a t k a n s e b a g a i b a h a n b a k u d a la m p e m b u a t a n b a t e r a i k e n d a r a a n
lis tr ik . D a la m p e r k e m b a n g a n d ig it a l, n ik e l m e n ja d i k o m p o n e n y a n g p e n t in g t e r u t a m a d a la m
p r o d u k s i b a t e r a i p o n s e l, k a m e r a d ig it a l d a n la p to p . N ik e l m e m ilik i s if a t f is ik a d a n s if a t k im ia
d ia n t a r a n y a t a h a n p a n a s , ta h a n k o r o s i t in g g i d a n o k s id a s i, m e n g h a n t a r k a n L is t r ik , B e r s if a t
m agnet di suhu ru a n g , b e r s if a t k e ra s nam un dapat d ib e n t u k ta n p a m e m p e n g a ru h i
k e t a n g g u h a n n y a d a n d a p a t d id a u r u la n g .
C a d a n g a n n ik e l d u n ia m e n c a p a i 1 3 9 . 4 1 9 . 0 0 0 T o n N i d e n g a n s e b e s a r a n p a lin g b a n y a k b e r a d a
d i I n d o n e s ia m e n c a p a i 5 5 ju t a T o n N i, d is u s u l o le h A u s t r a lia , B r a z il, R u s ia d a n n e g a r a la in
( 2 0 % ) . Is tila h c a d a n g a n b e r a r t i s u m b e r d a y a s u d a h d iy a k in i d a p a t d ie k s t r a k s i b e r b e d a d e n g a n
is t ila h s u m b e r d a y a y a n g m e n g a c u p a d a k e b e r a d a a n m a t e r ia l d i k e r a k a ta u b a g ia n d a la m b u m i
d e n g a n p r o s p e k u n t u k d ie k s t r a k s i. B e r ik u t in i n e g a r a d e n g a n c a d a n g a n n ik e l t e r b e s a r d i d u n ia
ta h u n 2 0 2 4 . C a d a n g a n N ik e l d i D u n ia T a h u n 2 0 2 4 s e b a g a i b e r ik u t:
G r a f ik : C a d a n g a n N ik e l D u n ia 2 0 2 4
C a d a n g a n N ik e l D u n ia 2 0 2 4
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P r o d u k s i n ik e l g lo b a l t e r n s m e n in g k a t d a la m 3 t a h u n t e r a k h ir t e r c a t a t t a h u n 2 0 2 3 s e b e s a r 3 ,3 6 3
ju t a t o n , m e n in g k a t m e n ja d i 3 ,5 2 6 ju t a p a d a ta h u n 2 0 2 4 d a n t e r u s m e n g a la m i k e n a ik a n p a d a
p r o y e k s t a h u n 2 0 2 5 s e k it a r 1 1 ,1 % d a r i 2 t a h u n s e b e lu m n y a . P e r m in t a a n n ik e l t e r u s m e n g a la m i
p e n in g k a t a n t e r c a t a t p a d a t a h u n 2 0 2 3 s e b e s a r 3 , 1 9 3 ju t a t o n m e n ja d i 3 ,3 4 7 ju t a t o n p a d a t a h u n
2 0 2 4 s e r t a d ip e r k ir a k a n a k a n m e n in g k a t m e n c a p a i 3 ,5 3 7 ju t a t o n p a d a 2 0 2 5 . P e r m in t a a n n ik e l
d a la m 3 ta h u n t e r a k h ir m e n g a la m i p e r t u m b u h a n m e n c a p a i 1 0 ,8 % . D it e n g a h p e r m in t a a n y a n g
m e n in g k a t , K e lo m p o k S t u d i N ik e l I n t e r n a s io n a l ( I N S G ) m e m p e r k ir a k a n p a s a r n ik e l p a d a ta h u n
2 0 2 5 a k a n m e n g a la m i s u r p lu s s e b e s a r 1 9 8 . 0 0 0 m e t r ik t o n d id o r o n g k o n s u m s i n ik e l g lo b a l
h a n y a 3 ,5 3 7 ju t a to n s e d a n g k a n p r o d u k s in y a m e n c a p a i 3 ,7 3 5 ju t a t o n . S e la in itu , la p o r a n p a s a r
k o m o d it a s B a n k D u n ia e d is i A p r il 2 0 2 5 m e m p r e d ik s i h a r g a n ik e l a k a n tu r u n 6 % s e p a n ja n g
t a h u n 2 0 2 5 d a n a k a n m e m b a w a h a r g a n ik e l k e t it ik t e r e n d a h s e ja k 2 0 2 0 . P e n u r u n a n h a r g a
t e r s e b u t d ip e n g a r u h i 2 f a k t o r u ta m a y a it u p e n in g k a t a n p a s o k a n g lo b a l s e r t a m e la m b a t n y a
p e r m in t a a n d a r i s e k t o r b a t e r a i k e n d a r a a n lis tr ik .
M e s k ip u n d e m ik ia n , p e n y e r a p u t a m a n ik e l y a it u u n t u k p e n g g u n a a n b a ja t a h a n k a r a t y a n g t e t a p
s t a b il m e n in g k a t s e k it a r 4 - 5 % p e r t a h u n d a n s e k t o r b a t e r a i y a n g t u m b u h 1 0 - 2 0 % p e r t a h u n .
M e s k ip u n p e rtu m b u h a n p e r m in ta a n s e k to r b a te ra i b e s a r, p e r lu d ik e t a h u i saat in i t e r ja d i
p e n in g k a t a n p e n g g u n a a n b a t e r a i lit h iu m ir o n p h o s p h a t e ( L F P ) y a n g m in im n ik e l t e r u t a m a d i
p a s a r k e n d a r a a n lis t r ik T io n g k o k . H a l t e r s e b u t d a p a t m e n a h a n la ju p e r t u m b u h a n p e r m in ta a n
n ik e l d a r i s e k t o r k e n d a r a a n lis tr ik .
I n d o n e s ia m e r u p a k a n p r o d u s e n t e r b e s a r n ik e l d u n ia d a n s a a t in i m e n g u a s a i s e k it a r 6 0 % d a r i
t o t a l p r o d u k s i n ik e l d u n ia . P o t e n s i n ik e l s e b a g a i s u m b e r d a y a a la m In d o n e s ia u n t u k m e n d o r o n g
p e r e k o n o m ia n n a s io n a l c u k u p b e s a r . B a d a n S u r v e i G e o lo g i A m e r ik a S e r ik a t ( U S G S ) d a la m
M in e r a l C o m m o d it y S u m m a r ie s 2024 m e n y e b u tk a n In d o n e s ia m e ru p a k a n p ro d u s e n n ik e l
t e r b e s a r d i d u n ia d e n g a n ju m la h p r o d u k s i m e n c a p a i 3 ,3 ju t a m e t r ik t o n ( M T ) p a d a ta h u n 2 0 2 2
d a n c a d a n g a n n ik e l m e n c a p a i 5 5 ju t a m e t r ik to n . H a l t e r s e b u t m e n c a t a t k a n In d o n e s ia s e b a g a i
n e g a r a d e n g a n c a d a n g a n n ik e l m e n c a p a i 4 2 , 3 % d a ri to ta l c a d a n g a n n ik e l d u n ia . S a a t in i,
te rd a p a t b e b e ra p a w ila y a h yang m e m ilik i kandungan n ik e l nam un b e lu m d ie k s p lo r a s i
( g r e e n f ie ld ) d i w ila y a h S u la w e s i T e n g g a r a , S u la w e s i T e n g a h , S u la w e s i S e la t a n , M a lu k u ,
M a lu k u U ta r a , P a p u a , d a n P a p u a B a r a t.
S e b a ra n cadangan b ijih n ik e l s e b a g ia n b e s a r s e k it a r 9 0 % t e r s e b a r d i S u la w e s i T e n g a h ,
S u la w e s i S e la t a n , S u la w e s i T e n g g a r a d a n M a lu k u U ta r a . D im a n a k e b e r a d a a n e n d a p a n n ik e l
la t e r it t e r s e b a r d i P e g u n u n g a n M e r a t u s , P u la u L a u t K a lim a n t a n , le n g a n t im u r P u la u S u la w e s i,
M a lu k u d a n P a p u a . B e r d a s a r k a n B o o k le t T a m b a n g N ik e l 2 0 2 0 , p e t a s e b a r a n lo k a s i s u m b e r
daya dan cadangan n ik e l d ilu a r w ila y a h IU P /K K n ik e l di P u la u S u la w e s i ta h u n 2020,
m e n u n ju k k a n S u la w e s i T e n g g a r a 77% w ila y a h p o te n s i p e m b a w a m in e r a lis a s i b e lu m ada
W IU P dengan p o te n s i c a d a n g a n 2 ,6 m ilia r to n . M a lu k u , 4 3 % w ila y a h p o te n s i p e m b a w a
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m in e r a lis a s i b e lu m a d a W H IP d a n c a d a n g a n 1 ,4 m ilia r t o n , s e d a n g k a n u n tu k P a p u a d a ta
p o t e n s i in v e s t a s i le b ih m e n a r ik la g i, p o t e n s i c a d a n g a n 0 , 0 6 m ilia r to n d e n g a n w ila y a h p o t e n s i
p e m b a w a m in e r a lis a s i b e lu m a d a W H IP s e b e s a r 9 8 % . S e la m a p e r io d e t a h u n 2 0 1 7 - 2 0 2 3 ,
p r o d u k s i b ijih n ik e l I n d o n e s ia m e n in g k a t d id o r o n g h ilir is a s i s e r t a in v e s t a s i s m e lt e r b a r u d i
w iia y a h I n d o n e s ia . B e r ik u t in i m e r u p a k a n p e rk e m b a n g a n p r o d u k s i b ijih n ik e l d i I n d o n e s ia
s e la m a ta h u n 2 0 1 7 - 2 0 2 3 .
G r a f i k : P r o d u k s i B ijih N ik e l d i I n d o n e s i a T a h u n 2 0 1 7 - 2 0 2 3
P r o d u k s i B i j i h N ik e l d i I n d o n e s ia T a h u n 2 0 1 7 - 2 0 2 3
P r o d u k s i b ijih n ik e l s e k it a r 2 0 , 9 2 ju t a to n p a d a t a h u n 2 0 1 7 , k e m u d ia n m e n in g k a t m e n ja d i 3 8 ,3 3
ju t a to n p a d a 2 0 1 8 , d a n k e m b a li m e n in g k a t m e n ja d i 6 0 , 9 5 ju t a to n p a d a 2 0 1 9 . P r o d u k s i b ijih
n ik e l m e n g a la m i p e n u r u n a n p a d a t a h u n 2 0 2 0 m e n ja d i 4 8 , 0 4 ju t a to n d a n t e r u s m e n g a la m i
p e n in g k a t a n p a d a 2 0 2 1 , 2 0 2 2 , d a n 2 0 2 3 m a s in g - m a s in g s e b e s a r 6 5 ,5 1 ju t a t o n , 9 8 , 1 9 ju t a to n
d a n 1 3 7 , 8 0 ju t a to n . L o n ja k a n p r o d u k s i m e r u p a k a n s a la h s a tu d a m p a k d a r i la r a n g a n e k s p o r
b ijih n ik e l m e n ta h yang m e n d o ro n g p e rc e p a ta n in v e s t a s i di s e k to r h ilir is a s i dengan
m e m b a n g u n f a s ilit a s p e n g o la h a n d i I n d o n e s ia s e c a r a m a s if.
B ijih n ik e l d e n g a n k a d a r d ib a w a h 1 ,7 % t id a k d ip e r b o le h k a n d i e k s p o r p e r t a n g g a l 1 J a n u a r i
2020. P e ru s a h a a n sudah m e la k u k a n t r a n s is i s e ja k S e p te m b e r - D esem ber 2019 u n tu k
m e n y e s u a ik a n k e b ija k a n te rs e b u t. P e la r a n g a n e k s p o r n ik e l p a d a t a h u n 2020 m e ru p a k a n
k e b ija k a n yang d ib u a t p e m e r in t a h d a la m upaya u n tu k m e m p e rk u a t in d u s t r i d o m e s t ik .
P e r a t u r a n P r e s id e n N o m o r 5 5 t a h u n 2 0 1 9 t e n t a n g p e r c e p a t a n p r o g r a m k e n d a r a a n b e r b a s is
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b a tte ry u n tu k tra n s p o rta s i ja la n m e n c a n tu m k a n p e m a n fa a ta n n ik e l kadar re n d a h agar
I n d o n e s ia m e n ja d i s a la h s a tu n e g a r a y a n g m e m p r o d u k s i b a t e r a i lit h iu m io n a ta u b ijih n ik e l
d e n g a n k a d a r r e n d a h . K e b ija k a n in i d ib u a t u n t u k p e n g e m b a n g a n in d u s t r i n ik e l m e m b e r ik a n
p e lu a n g s e k a lig u s t a n t a n g a n b a g i in d u s t r i n ik e l d i I n d o n e s ia . K e m u d a h a n p a d a in d u s t r i n ik e l
la in d ia n t a r a n y a d id u k u n g o le h k e m u d a h a n a k s e s d a n in f r a s t r u k t u r d e n g a n a d a n y a 4 k a w a s a n
in d u s t r i s e b a g a i b e r ik u t :
a. Kaw asan I n d u s t r i M o r o w a li ( M o r o w a li, S u la w e s i T e n g a h ) , in t e g r a t e d in d u s t r i f e r r o n ik e l,
s t a in le s s s t e e l d a n b a t e r a i k e n d a r a a n lis tr ik .
b. Kaw asan I n d u s t r i K o n a w e ( K o n a w e , S u la w e s i T e n g g a r a ) , in t e g r a t e d in d u s t r i f e r r o n ik e l,
s t a in le s s s t e e l d a n p r o d u k h ilir n y a .
c. K a w a s a n I n d u s t r i B a n t e n g ( B a n t a e n g , S u la w e s i S e la t a n ) , in d u s t r i f e r r o n ik e l d a n s t a in le s s
s t e e l, d a n
d. Kaw asan In d u s tri W eda Bay ( H a lt e n g , M a lu k u U ta ra ), in t e g r a t e d in d u s t r i f e r r o n ik e l,
s t a in le s s s t e e l d a n b a t e r a i k e n d a r a a n lis tr ik .
S u m b e r d a y a d a n c a d a n g a n n ik e l d i In d o n e s ia p a lin g b a n y a k d i P r o v in s i S u la w e s i T e n g g a r a
s e b a g a im a n a g r a f ik d ib a w a h in i.
G r a f i k : S u m b e r D a y a d a n C a d a n g a n N ik e l I n d o n e s i a 2 0 2 4
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o
S u la w e s i T e n g g a r a m e n e m p a t i p o s is i p e r t a m a d e n g a n s u m b e r d a y a n ik e l s e b e s a r 6 1 , 3 ju t a
m e t r ik to n d a n c a d a n g a n m e n c a p a i 2 0 , 4 5 ju t a m e t r ik t o n . P o s is i b e r ik u t n y a d it e m p a t i o le h
M a lu k u U ta r a , d e n g a n s u m b e r d a y a 3 8 , 0 8 ju t a m e t r ik to n d a n c a d a n g a n 1 6 ju t a m e t r ik to n .
S u la w e s i T e n g a h ju g a m e m ilik i k o n t r ib u s i s ig n if ik a n d e n g a n s u m b e r d a y a m e n c a p a i 3 2 , 2 9 ju t a
m e t r ik to n d a n c a d a n g a n s e b e s a r 9 , 6 8 ju t a m e t r ik t o n . S e m e n t a r a itu , S u la w e s i S e la t a n d a n
P a p u a B a r a t m e m ilik i s u m b e r d a y a y a n g r e la t if le b ih k e c il, m a s in g - m a s in g 4 ,1 ju t a m e t r ik to n
d a n 3 ,8 ju t a m e t r ik to n , d e n g a n c a d a n g a n 2 ,1 2 ju t a m e t r ik t o n d a n 8 8 0 , 5 6 r ib u m e t r ik t o n . D i
P u la u K a lim a n t a n t e r d a p a t p r o v in s i K a lim a n t a n T im u r d a n K a lim a n t a n T e n g a h m a s in g - m a s in g
m e m ilik i s u m b e r d a y a s e b e s a r 4 2 5 , 8 8 rib u m e t r ik to n d e n g a n c a d a n g a n 1 1 ,7 8 rib u m e t r ik t o n ,
s e d a n g k a n K a lim a n t a n T e n g a h m e n c a t a t s u m b e r d a y a 2 7 5 , 3 3 r ib u m e t r ik to n d a n c a d a n g a n
1 1 7 , 0 8 rib u m e t r ik to n .
B e rd a s a rk a n B o o k le t T a m b a n g N ik e l 2 0 2 0 , p r o y e k s m e lt e r n ik e l m a s ih d ip e r lu k a n s e ja la n
d e n g a n p r o y e k s i p e r m in ta a n n ik e l p a d a t a h u n 2 0 4 0 s e b e s a r ± 1 ,7 ju t a t o n N i. P e r m in t a a n
k e n d a r a a n lis t r ik p a d a ta h u n 2 0 2 7 d ip e r k ir a k a n ju g a m e n in g k a t d a n k e b u t u h a n p a s o k a n b a r u
s e k it a r ± 2 3 0 r ib u to n N i p a d a t a h u n 2 0 3 0 . K e m u d ia n d it in ja u d a r i w ila y a h d e n g a n s u m b e r d a y a
d a n c a d a n g a n n ik e l p a lin g b e s a r m a k a S u la w e s i m e r u p a k a n p r o v in s i d e n g a n p o t e n s i in d u s t r i
n ik e l t e r b e s a r d i In d o n e s ia .
In d u s tr i B a tu K a p u r
B a tu k a p u r m e r u p a k a n s u m b e r d a y a m in e r a l y a n g m e lim p a h d i In d o n e s ia t e r s e b a r d i J a w a ,
S u m a te ra , d a n N u s a T e n g g a r a . B a tu k a p u r ( lim e s t o n e ) a d a la h je n is b a t u a n ka b o n a t yang
t e r ja d i d i a la m , d is e b u t ju g a b a t u g a m p in g . M in e r a l u ta m a b a t u k a p u r a d a la h k a ls it ( C a C 0 3 ) ,
m in e r a l la in n y a m e r u p a k a n m in e r a l p e n g o t o r , b ia s a n y a t e r d ir i d a r i k u a r s a ( S i0 2 ) , k a r b o n a t
yang b e r a s o s ia s i dengan m in e r a l besi dan m in e r a l le m p u n g , s e rta bahan o r g a n ik s is a
t u m b u h a n . P e n g g u n a a n y a n g b e r a g a m u n t u k b e r b a g a i in d u s t r i m e n ja d ik a n in d u s t r i b a tu k a p u r
s a n g a t p e n t in g d a la m e k o n o m i n a s io n a l.
P o t e n s i b a tu k a p u r s a n g a t b e s a r d i I n d o n e s ia d e n g a n e n d a p a n y a n g t e r s e b a r d i S u m a t r a ,
Jaw a, N usa T e n g g a ra , S u la w e s i, Iria n Jaya, s e rta p u la u - p u la u la in n y a . B a tu g a m p in g
m e r u p a k a n s a la h s a tu g o lo n g a n b a t u a n s e d im e n , t e r d ir i d a r i b a tu g a m p in g n o n - k la s t ik d a n b a tu
g a m p in g k la s t ik d e n g a n p e n je la s a n s e b a g a i b e r ik u t :
a. B a t u g a m p in g n o n - k la s t ik
B a tu in i t e r b e n t u k d a r i k o lo n i d a r i b in a t a n g la u t s e p e r t i C o e le n t r a t a , M o lu s k a , P r o t o z o a d a n
F o r a m in if e r a . J e n is b a tu g a m p in g in i s e r in g d is e b u t s e b a g a i b a tu g a m p in g k o r a l k a r e n a
b a h a n p e n y u s u n u ta m a n y a a d a la h k o r a l.
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R e k a n
b. B a tu g a m p in g k la s t ik
B a tu in i d ib e n t u k m e la lu i p r o s e s e r o s i, t r a n s p o r t a s i, s o r t a s i, d a n s e d im e n t a s i y a n g t e r ja d i
p a d a b a tu g a m p in g n o n - k la s t ik . P r o s e s t e r s e b u t m e n g a k u m u la s i b e r b a g a i m in e r a l la in
s e b a g a i p e n g o t o r , s e h in g g a m e n g h a s ilk a n v a r ia s i w a r n a d a r i b a tu g a m p in g itu s e n d ir i.
B e b e r a p a w a r n a y a n g u m u m d iju m p a i a d a la h p u tih s u s u , a b u - a b u m u d a , a b u - a b u tu a ,
c o k la t , m e r a h b a h k a n h ita m .
B a tu g a m p in g s e b a g ia n b e s a r t e r ja d i s e c a r a o r g a n ik m e la lu i p e n g e n d a p a n c a n g k a n g a ta u
r u m a h k e r a n g d a n s ip u t , f o r a m in if e r a a ta u g a n g g a n g , a ta u b e r a s a l d a r i k e r a n g k a b in a t a n g
k o r a l/ k e r a n g . N a m u n , b a tu g a m p in g ju g a d a p a t t e r b e n t u k s e c a r a m e k a n ik m a u p u n k im ia .
P e m b e n t u k a n s e c a r a m e k a n ik t e r ja d i m e la lu i c a n g k a n g k e r a n g d a n s ip u t y a n g t e r b a w a o le h
a r u s d a n d ie n d a p k a n t id a k ja u h d a r i t e m p a t a s a ln y a , s e d a n g k a n p e m b e n t u k a n s e c a r a k im ia
t e r ja d i d a la m a ir la u t a ta u p u n a ir t a w a r p a d a k o n d is i ik lim d a n s u a s a n a lin g k u n g a n t e r t e n t u .
P e n a m b a n g a n b a tu k a p u r d ila k u k a n d i d a e r a h y a n g m e m ilik i la h a n k a p u r y a n g m e r u p a k a n
d a e r a h k e r in g . B a tu k a p u r m e m ilik i w a r n a p u tih , p u t ih k e k u n in g a n , a b u - a b u h in g g a h ita m .
M a t e r ia l in i p e n t in g u n t u k s e m e n d a n k o n s t r u k s i y a n g d ig u n a k a n u n t u k p e le b u r a n lo g a m b a ik
b e s i m a u p u n b u k a n b e s i d a n in d u s t r i k a c a , b a h a n p e n g is i p e m b u a t a n k a r e t, p la s t ik , k a r t o n , c a t.
S e c a r a s p e s if ik , b a tu k a p u r d a p a t d im a n f a a t k a n u n t u k s e k t o r d ib a w a h in i.
a. P r o d u k b a h a n b a n g u n a n , y a itu u n t u k p o n d a s i ja la n , r u m a h , b e n d u n g a n . ia s a n y a d ip a k a i
b a h a n g a lia n g a m p in g y a n g k e r a s d a n p e ja l b e r h a b lu r h a lu s d e n g a n d a y a t e k a n 8 0 0 - 2 . 5 0 0
k g /c m 2 .
b. I n d u s t r i k a c a y a n g b e r fu n g s i s e b a g a i g a lia n f lu k s d e n g a n k a d a r 0 ,9 6 % S i 0 2 ; 4 % F e 2 0 3 ;
0 ,1 4 % A I 2 0 3 ; 0 ,1 5 % M g O d a n 5 5 , 8 % C a O .
c. In d u s tr i b a t a s ilik a d e n g a n s p e s if ik a s i: 9 0 % C a O ; m a k s im u m 4 , 5 % M g O ; m a k s im u m 1 ,5 %
F e 2 0 3 + A I 2 0 3 ; d a n m a k s im u m 5 5 , 8 % C 0 2 .
d. I n d u s t r i s e m e n d e n g a n s p e s if ik a s i: 5 0 - 5 5 % C a O ; m a k s im u m 2 % M g O ; v is k o s it a s 3 2 0 0 c p
( 4 0 % H 2 0 ) ; 2 ,4 7 % F e 2 0 3 ; s e r t a 0 , 9 5 % A I 2 0 3 .
e. P e m b u a ta n k a r b it d e n g a n bahan u ta m a 6 0 % k a p u r to h o r d a n 4 0 % k o k a s . S y a ra tn y a
a d a la h m in im u m 92% CaO ; 75% M g O ; m a k s im u m 1% F e 2 0 3 + A I2 0 3 . U n tu k k o k a s
m a k s im u m 5% Fe203; m a k s im u m 0 ,2 % S; m a k s im u m 0 ,0 2 % P; h ila n g p ija r 4 %
m a k s im u m 2 % S i 0 2 . K h u s u s k o k a s k a d a r a r a n g p a d a t > 8 6 % . K a d a r a b u m a k s im u m 1 2 % ,
t id a k r a p u h , d a n k a d a r a ir r e n d a h .
f. P e m b u a t a n r e f r a k to r i d im a n a s e b a g a i g a lia n b a h a n b a k u a d a la h h ig h c a lc iu m lim e y a n g
m e n g a n d u n g 9 5 % C a C 0 3 ; 5 % d o lo m it . S e la in itu , h ig h m a g n e s iu m lim e m e n g a n d u n g 5 0 -
9 0 % C a C 0 3 ; 1 0 - 5 0 % d o lo m it , s e b a g a i g a lia n b a h a n t a m b a h a n a d a la h t a n a h lia t d a n a ir.
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g. P e lic in t a b le t dengan s p e s if ik a s i b e ru k u ra n -2 0 0 m esh, kandungan C aC03 9 8 ,5 %
s e h in g g a m e r u p a k a n s e r b u k h a b lu r p u t ih t id a k b e r b a u d a n t id a k b e r a s a , t id a k m e n g a n d u n g
a rs e n dan lo g a m b e ra t la in n y a , p e n y u s u ta n k e r in g t id a k m e le b ih i 1% , dan t id a k
m e n g g a n g g u b a h a n a k tif.
h. P e le b u r a n b a ja b e r f u n g s i s e b a g a i G a lia n b a h a n im b u h ( flu k s ) . S ilik a d a n a lu m in a a k a n
b e r e a k s i d e n g a n b a h a n im b u h m e n ja d i t e r a k / s la g y a n g m e n g a p u n g t e r le t a k d i a ta s le le h a n
b e s i b a ja , s e h in g g a m u d a h d ip is a h k a n .
i. B a h a n P e m u t ih k e r t a s , p u lp d a n k a r e t d im a n a b a tu g a m p in g h a b lu r m u r n i d ig e r u s h a lu s
d e n g a n s y a r a t 9 8 % C a C 0 3 d a n P H > 7 , 8 d e n g a n k e h a lu s a n 3 2 5 m e s h s u p a y a d a y a s e r a p
t e r h a d a p m in y a k w a r n a p u tih .
j. I n d u s t r i g u la b e r fu n g s i m e n je r n ih k a n n ir a t e b u d a n m e n a ik a n te b u . U m u m n y a u n t u k 1 0 0 0
k g te b u d ig u n a k a n 1 0 0 k g k a p u r t o h o r d e n g a n s y a r a t 0 ,2 % H 2 .
G r a f i k : P e r k e m b a n g a n V o lu m e P r o d u k s i B a h a n G a lia n B a tu K a p u r In d o n e s ia
P e r k e m b a n g a n V o l u m e P r o d u k s i B a h a n G a lia n B a t u K a p u r I n d o n e s i a
30.000.000
27. 695.416
Sumber: BPS, 2025
P e rk e m b a n g a n p r o d u k s i b a tu k a p u r b e r f lu k t u a s i d a la m r e n ta n g t a h u n 2017 sam pai 2023,
v o lu m e h a s il p r o d u k s i p e r t a m b a n g a n b a tu k a p u r t e r c a t a t 4 , 3 8 ju t a m 3 p a d a 2 0 1 7 m e n ja d i 7 ,2 6
ju t a m 3 ta h u n 2 0 1 8 , k e m u d ia n m e n in g k a t s ig n if ik a n p a d a 2 0 1 9 m e n ja d i 2 7 , 7 0 ju t a m 3 , la lu
t e r u s m e n g a la m i p e n u r u n a n p r o d u k s i p a d a 2 0 2 0 s a m p a i 2 0 2 0 t e r c a t a t m e n ja d i 8 ,3 4 ju t a m 3 ,
d a n k e m b a li m e n g a la m i p e n in g k a t a n m e n ja d i 9 , 9 0 ju t a m 3 p a d a 2 0 2 3 . P e r t u m b u h a n s e ja la n
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d e n g a n p e r t u m b u h a n v o lu m e p r o d u k s i y a n g m e n g g u n a k a n k a p u r s e b a g a i b a h a n b a k u in d u s t r i
p e t e r n a k a n , in d u s t r i p e m b u a t a n b a h a n k o n s t r u k s i, d a n in d u s t r i p e le b u r a n lo g a m . O le h k a r e n a
itu , p o t e n s i in d u s t r i b a tu k a p u r m e m ilik i p r o s p e k y a n g m e n ja n jik a n s e ja la n d e n g a n b e s a r n y a
penggunaan u n t u k p r o d u k - p r o d u k d i b e r b a g a i in d u s t r i t e r u t a m a d e n g a n a d a n y a a k s e le r a s i
p e m b a n g u n a n in f r a s t r u k t u r , in d u s t r ia lis a s i d a n p e n g e m b a n g a n p e r k o t a a n d i In d o n e s ia .
2 .1 7 K e ja d ia n S e te la h T a n g g a l S tu d i K e la y a k a n (Subsequent Event)
B e rd a s a rk a n L a p o ra n K euangan A u d it PSI per ta n g g a l 30 S e p te m b e r 2025 No.
0 0 3 9 6 / 2 . 1 1 2 7 / A U . 1 / 0 5 / 1 6 5 - 1 /1 / X I / 2 0 2 5 y a n g d it e r b it k a n o le h K A P H e n d r a w in a t a H a n n y E r w in
d a n S u m a r g o t a n g g a l 2 8 N o v e m b e r 2 0 2 5 m o d a l a ta u p e n y e r t a a n saham d a ri P e m e g a n g
Saham PSI b e lu m d is e t o r k a n sam pai dengan per ta n g g a l la p o r a n keuangan a u d it 30
S e p t e m b e r 2 0 2 5 , d im a n a p a d a L a p o r a n K e u a n g a n A u d it s is i E k u it a s t e r c a t a t s e b a g a i P iu ta n g
S e to ra n M o d a l d a ri P e m e g a n g S a h a m .
K e m u d ia n D a n a S e t o r a n M o d a l o le h P e m e g a n g S a h a m k e p a d a P S I d ila k u k a n p a d a b u la n
N o v e m b e r 2 0 2 5 , s e h in g g a t e r ja d i p e r u b a h a n s t r u k t u r E k u it a s d im a n a M o d a l D is e t o r t e r c a t a t
sebesar Rp. 5 0 .0 0 0 .0 0 0 .0 0 0 ,- sesuai dengan b u k ti s e to r a n m odal yang t e r c a t a t d a la m
r e k e n in g k o r a n P S I.
S t r u k t u r P e m e g a n g s a h a m P S I s e s u a i A k t a P e r n y a t a a n K e p u tu s a n P e m e g a n g S a h a m P S I N o .
5 2 T a n g g a l 2 3 S e p t e m b e r 2 0 2 5 o le h A n a s t a s ia C h a n d r a , S . H ., M . K n , N o t a r is d i T a n g e r a n g ,
s u s u n a n p e m e g a n g s a h a m P S I a d a la h s e b a g a i b e r ik u t :
Persentase
Pemegang Saham Lembar Saham Jumlah
Kepemilikan
P T A n a g a G ro u p In d o n e s ia 4 9 .5 0 0 9 9 ,0 0 % 4 9 .5 0 0 .0 0 0 .0 0 0
P T G a lle y A d h ik a A rn a w a m a 500 1 ,00% 5 0 0 .0 0 0 .0 0 0
Jumlah 50.000 100,00% 50.000.000.000
P T H o te l F itr a In te r n a tio n a l T b k
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K J P P E di A n d e s ta
-o d an R e k a n
III. A n a lis is K e la y a k a n
A n a lis is K e la y a k a n B is n is p a d a b a b in i d id a s a r k a n p a d a c a k u p a n a ta u L in g k u p P e n u g a s a n
yang d ib e r ik a n P e rs e ro a n , d i m a n a fo k u s u ta m a pengem bangan usaha yang t e r d ir i d a r i
p e n a m b a h a n k e g ia t a n u s a h a y a it u ja s a p e n g a n g k u t a n b a r a n g m e la lu i j a lu r p e la y a r a n d o m e s t ik
m a u p u n in t e r n a s io n a a l d e n g a n r in c ia n p e n a m b a h a n K B L I 5 0 1 3 1 ( A n g k u t a n L a u t D a la m N e g e r i
u n t u k B a r a n g U m u m ) , K B L I 5 0 1 3 3 ( A n g k u t a n L a u t D a la m N e g e r i u n t u k B a r a n g K h u s u s , K B L I
50141 (A n g k u ta n L a u t L u a r N e g e ri u n tu k B a ra n g U m u m ), K B L I 5 0 1 4 2 (A n g k u ta n L a u t L u a r
N e g e ri u n tu k B a ra n g K h u s u s ). H a l in i sesuai dengan k o n f ir m a s i P e rs e ro a n yang te la h
d is e s u a ik a n d e n g a n r e n c a n a p r o y e k s i k e u a n g a n t e r k a it ja s a p e n g a n g k u t a n b a r a n g m e la lu i j a lu r
p e la y a r a n d o m e s t ik y a n g d ib e r ik a n o le h M a n a je m e n P e r s e r o a n s e b a g a i r e n c a n a b is n is ja n g k a
p a n ja n g . S e la in itu , F IT T ju g a m e la k u k a n penam bahan k e g ia t a n usaha y a itu a k tifita s
p e r u s a h a a n h o ld in g ( K B L I 6 4 2 0 0 ) . H a l in i s e s u a i d e n g a n k o n f ir m a s i P e r s e r o a n y a n g te la h
d is e s u a ik a n dengan re n c a n a p ro y e k s i keuangan s e b e lu m dan s e te la h tra n s a k s i re n c a n a
in v e s t a s i p a d a P S I y a n g d ib e r ik a n o le h M a n a je m e n P e r s e r o a n s e b a g a i r e n c a n a b is n is ja n g k a
p a n ja n g .
3.1 A spek Pasar
D a la m a n a lis is k e la y a k a n p a d a A s p e k P a s a r , K J P P A n d e s t a m e la k u k a n e v a lu a s i d a n t in ja u a n
b e b e r a p a v a r ia b e l y a n g m e n ja d i b a g ia n d a r i A s p e k P a s a r , a n t a r a la in :
a. P a n g s a P a s a r u n t u k k e g ia t a n u s a h a ja s a p e n g a n g k u t a n b a r a n g m e la lu i j a lu r p e la y a r a n
d o m e s t ik d a n susta in ab ility s e r t a k e g ia t a n u s a h a a k t iv it a s p e r u s a h a a n h o ld in g d a r i p a s a r
te rs e b u t;
b. P o t e n s i P a s a r , S a s a r a n P a s a r d a n P o t e n s i N ila i P a s a r ;
c. K o m p e t is i d a n p e la k u d i in d u s t r i y a n g s e je n is ;
d. S tra te g i p e m a s a ra n
3.1 .1 P a n g s a d a n K e s in a m b u n g a n (Sustainability) d a ri P a s a r
Pangsa Pasar
W ila y a h p e r a ir a n y a n g lu a s m e n d o r o n g in d u s t r i p e la y a r a n d i I n d o n e s ia m e m ilik i p e r a n y a n g
s a n g a t p e n t in g u n t u k s is t e m lo g is t ik n a s io n a l d a la m m e n d is t r ib u s ik a n b a r a n g d a n ja s a . S is t e m
p e n g a n g k u t a n d e n g a n m o d a t r a n s p o r t a s i la u t y a n g d ik e lo la d e n g a n b a ik d a n e fis ie n akan
m e n in g k a t k a n d a y a s a in g e k o n o m i d a n k o n e k t iv it a s d i s e lu r u h w ila y a h in d o n e s ia s e b a g a i
n e g a r a k e p u la u a n . B o n g k a r m u a t b a r a n g m e r u p a k a n k e g ia t a n y a n g m e m p u n y a i a n d il t e r h a d a p
p e r e k o n o m ia n b a ik d a ri segi a k t iv it a s p e rh u b u n g a n la u t h in g g a p e n g a ru h n y a te rh a d a p
p e n g e m b a n g a n e k o n o m i d a e r a h . B o n g k a r m u a t b a r a n g p e la y a r a n d a la m n e g e r i d a p a t b e r u p a
B a h a n P o k o k , B a h a n S t r a t e g is , M ig a s , N o n m ig a s d a n B a r a n g L a in n y a . J e n is ja s a p e la y a r a n
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m e m ilik i c a k u p a n y a n g o p e r a s io n a l y a n g lu a s u n t u k a n g k u ta n b a r a n g , a n g k u t a n p e n u m p a n g ,
a n g k u t a n c a ir a n d a n g a s , a n g k u ta n k h u s u s , in d u s t r i p e r ik a n a n , ja s a la in n y a t e r k a it a n g k u ta n
a ir d a n la y a n a n p e n d u k u n g m a r it im . B o n g k a r m u a t b a r a n g m e r u p a k a n k e g ia t a n ja s a a n g k u t a a n
a ir y a n g m e m p u n y a i a n d il t e r h a d a p p e r e k o n o m ia n b a ik d a r i s e g i a k t iv it a s p e r h u b u n g a n la u t
h in g g a p e n g a ru h n y a te rh a d a p pengem bangan ekonom i d a e ra h . B ongkar m uat b a ra n g
p e la y a r a n d a la m n e g e r i d a p a t b e r u p a B a h a n P o k o k , B a h a n S t r a t e g is , M ig a s , N o n m ig a s d a n
B a r a n g L a in n y a . B e r d a s a r k a n r e n c a n a p e r u s a h a a n , la y a n a n y a n g a k a n d is e d ia k a n o le h P S I
y a itu p e n g a n g k u ta n k o m o d it a s u ta m a b e ru p a b ijih n ik e l dan b a tu kapur dengan r u te
o p e r a s io n a l u t a m a b e r a d a d i p e r a ir a n S u la w e s i, y a it u r u te K e n d a r i - L a n g a r a d a n r u t e R a h a -
Baubau. D engan s e b a ra n cadangan b ijih n ik e l s e b a g ia n b e s a r s e k it a r 9 0 % te rs e b a r di
S u la w e s i T e n g a h , S u la w e s i S e la t a n , S u la w e s i T e n g g a r a d a n M a lu k u U t a r a s e h in g g a d e n g a n
p e lu a n g sum ber daya dan cadangan n ik e l y a n g b e s a r, m a k a p e r m in ta a n akan a n g k u ta n
t r a n s p o r t a s i la u t d ib u t u h k a n u n t u k k e g ia t a n p e n g ir im a n k a r g o d i w ila y a h S u la w e s i. H a l t e r s e b u t
ju g a t e r lih a t d a r i g a m b a r a n in d u s t r i s e p e r t i d i g a m b a r k a n p a d a s u b b a b 2 . 1 6 y a n g m e n u n ju k k a n
p a n g s a p a s a r in d u s t r i p e n g ir im a n b a h a n t a m b a n g y a n g a k a n t e r n s b e r k e m b a n g .
D engan m e lih a t p a n g s a p a s a r y a n g a d a , F IT T b e r e n c a n a u n t u k m e la k u k a n penam bahan
k e g ia t a n usaha ja s a p e n g a n g k u ta n b a ra n g m e la lu i j a lu r p e la y a r a n d o m e s t ik dengan
m e n g a k u is is i P S I.
K e s in a m b u n g a n (S u s ta in a b ility )
D a la m m e n ja la n k a n k e g ia t a n u s a h a d a la m ja s a p e n g a n g k u t a n b a r a n g m e la lu i j a lu r p e la y a r a n
d o m e s t ik n a n t in y a PSI akan m e la k u k a n k o n t r a k e k s k lu s if d a la m ja n g k a p a n ja n g dengan
b e b e r a p a p e la n g g a n e k s it in g . N a m u n s a a t in i P S I b e lu m r e s m i b e r o p e r a s i d a n b e lu m m e m ilik i
a r m a d a s e h in g g a k o n t r a k p e n g a n g k u t a n k a r g o k a p a l b e lu m r e s m i d it a n d a t a n g a n i. D e n g a n
b e b e r a p a p e r t im b a n g a n t e r u s m e n in g k a t n y a p r o d u k s i p e r t a m b a n g a n t e r u t a m a k o m o d it a s b ijih
n ik e l d i S u la w e s i y a n g d ip r e d ik s i a k a n t e r u s m e n in g k a t s e ir in g d e n g a n k e b u t u h a n b e r b a g a i
in d u s t r i d i In d o n e s ia m e n ja d ik a n P e r s e r o a n d a p a t m e la k u k a n k e g ia t a n u s a h a ja s a p e la y a r a n
d o m e s t ik y a n g b e r k e s in a m b u n g a n d i r u te o p e r s io n a l S u le w e s i. S e la in itu , u p a y a k e p a t u h a n
lin g k u n g a n a k a n d ila k u k a n o le h P e r s e r o a n u n t u k m e n ja g a k e s in a m b u n g a n b is n is p e r u s a h a a n
d ia n t a r a n y a d e n g a n p e m a k a ia n b a h a n b a k a r m in y a k d e n g a n k a n d u n g a n s u lf u r y a n g r e n d a h
guna m e n g u ra n g i e m is i s e k to r p e la y a r a n sesuai dengan a tu r a n O r g a n is a s i M a r it im
I n t e r n a s io n a l t a h u n 2 0 2 0 . A s p e k k e s in a m b u n g a n y a n g d ih a r a p k a n d a p a t d ila k u k a n o le h P S I
kedepan la in n y a y a itu m e m b e r ik a n d a m p a k s o s ia l y a n g p o s it if m e la lu i k o la b o r a s i d e n g a n
m a s y a r a k a t p e s is ir d a la m p r o g r a m p e la t ih a n a w a k k a p a l.
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S e d a n g k a n d a la m m e n ja la n k a n k e g ia t a n u s a h a A k t iv it a s P e r u s a h a a n H o ld in g n a n t in y a F IT T
m e la k u k a n in v e s t a s i p a d a P S I y a n g b e r g e r a k d a la m in d u s t r i ja s a p e n g a n g k u t a n b a r a n g m e la lu i
j a lu r p e la y a r a n d o m e s t ik . P e r lu a s a n u s a h a t e r s e b u t d ila k u k a n u n t u k m e m ilik i a n a k p e r u s a h a a n
yang m e m u n g k in k a n d a r i b e r b a g i s e k t o r in d u s t r i g u n a m e n ja g a k e s in a m b u n g a n k e g ia t a n
u s a h a F IT T .
3 .1 .2 P o te n s i P a s a r, S a s a ra n d a n P o te n s i N ila i P a s a r
PSI m e m ilik i s a s a ra n p e la n g g a n p r io r it a s y a it u p e ru s a h a a n p e rta m b a n g a n , yang fo k u s
la y a n a n a n n y a b e r u p a a n g k u t a n k o n t a in e r is a s i b ijih n ik e l d a n b a tu k a p u r . P r io r it a s t e r s e b u t
s e ja la n d e n g a n a d a n y a p o t e n s i p a s a r ja s a a n g k u ta n la u t u n t u k k o m o d it a s b ijih n ik e l d a n b a tu
k a p u r d i In d o n e s ia , k h u s u s n y a d i w ila y a h S u la w e s i s e ir in g d e n g a n k e b ija k a n u n t u k m e n d o r o n g
h ilir is a s i in d u s t r i p e r t a m b a n g a n . D im a n a t e r ja d i lo n ja k a n p r o d u k s i b ijih n ik e l p a d a ta h u n 2 0 2 1 ,
2 0 2 2 , d a n 2 0 2 3 m a s in g - m a s in g t e r c a t a t s e b e s a r 6 5 ,5 1 ju t a t o n , 9 8 , 1 9 ju t a to n d a n 1 3 7 , 8 0 ju t a
t o n . L o n ja k a n p r o d u k s i m e r u p a k a n s a la h s a tu d a m p a k d a r i la r a n g a n e k s p o r b ijih n ik e l m e n ta h
yang m e n d o ro n g p e rc e p a ta n in v e s t a s i di s e k to r h ilir is a s i dengan m em bangun f a s ilit a s
p e n g o la h a n d i I n d o n e s ia s e c a r a m a s if. B e r d a s a r k a n B o o k le t T a m b a n g N ik e l 2 0 2 0 , p r o y e k
s m e lt e r n ik e l m a s ih d ip e r lu k a n s e ja la n d e n g a n p r o y e k s i p e r m in t a a n n ik e l p a d a t a h u n 2 0 4 0
s e b e s a r ± 1 ,7 ju t a to n N i. D it in ja u d a r i w ila y a h d e n g a n s u m b e r d a y a d a n c a d a n g a n n ik e l p a lin g
b e s a r m a k a S u la w e s i m e r u p a k a n p r o v in s i d e n g a n p o t e n s i in d u s t r i n ik e l t e r b e s a r d i In d o n e s ia .
S e b a ra n cadangan b ijih n ik e l s e b a g ia n b e s a r s e k it a r 9 0 % t e r s e b a r d i S u la w e s i T e n g a h ,
S u la w e s i S e la t a n , S u la w e s i T e n g g a r a dan M a lu k u U ta ra s e h in g g a PSI m e m ilik i p o te n s i
a n g k u ta n p a d a b ijih n ik e l c u k u p b e s a r d e n g a n f o k u s r u t e o p e r a s io n a l d i S u la w e s i.
B e rd a s a rk a n d a ta in f o r m a s i m a n a je m e n , F IT T b e re n c a n a m e la k u k a n in v e s t a s i pada
p e r u s a h a a n y a n g m e n a w a r k a n p e lu a n g a ta u p o t e n s i u n t u k m e n c ip t a k a n n ila i t a m b a h . S e k t o r
in d u s t r i y a n g s a a t in i m e m ilik i p o t e n s i b e r tu m b u h s e ja la n d e n g a n p e m b a n g u n a n p e r e k o n o m ia n
I n d o n e s i y a it u s e k t o r ja s a p e n g a n g k u t a n b a r a n g m e la lu i ja l u r p e la y a r a n d o m e s t ik . In v e s t a s i
t e r s e b u t d ip r o y e k s ik a n akan m e n c a ta tk a n la b a b e r s ih t a h u n 2 0 3 0 s e b e s a r R p 1 4 , 5 8 m ilia r
( P r o y e k s i) . H a l t e r s e b u t m e n ja d i p o t e n s i p e n a m b a h a n n ila i p a s a r b a g i F IT T .
3 .1 .3 P e s a in g U s a h a
R e n c a n a p e n a m b a h a n k e g ia t a n u s a h a P e r s e r o a n b e r u p a ja s a p e n g a n g k u t a n b a r a n g m e la lu i
ja l u r p e la y a r a n d o m e s t ik t e n t u n y a t id a k t e r le p a s d a r i k o m p e t it o r . B e r d a s a r k a n in f o r m a s i d a r i
m a n a je m e n P S I u n t u k s a a t in i p e r u s a h a a n s e je n is d i In d o n e s ia y a n g d a p a t d ija d ik a n r e f e r e n s i
s e c a r a u m u m b e r g e r a k d i in d u s t r i y a n g s a m a d a n m e m ilik i k e g ia t a n u s a h a y a n g s e b a n d in g
d e n g a n P S I, d ia n t a r a n y a :
P T H o te l F itr a In te r n a tio n a l T b k
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No N a m a P e ru s a h a a n
1. P T . M e r a t u s L in e
2. P T . T a n t o In tim L in e
3. S a m u d e r a S h ip p in g L in e
4. M IS C B e rh a d
5. C O S C O S h ip p in g B u lk
Sumber: Manajemen PSI
Sedangkan u n tu k re n c a n a p e n a m b a h a n k e g ia t a n u s a h a F I T T b e r u p a a k t if it a s p e r u s a h a a n
h o ld in g b e r d a s a r k a n d a t a d a r i B u r s a E f e k In d o n e s ia ( B E I) p e r u s a h a a n yang m e n ja la n k a n
k e g ia t a n u s a h a s e b a g a i p e r u s a h a a n in v e s t a s i t e r c a t a t d i b u r s a s e b a g a i b e r ik u t :
No N a m a P e ru s a h a a n
1. P T . S a ra to g a In v e s ta m a S e d a y a T b k (S R T G )
2. P T . S in a r M a s M u lt ia r t h a T b k ( S M M A )
3. P T P r o v id e n t In v e s t a s i B e r s a m a T b k ( P A L M )
4. P T . M N C K a p it a l I n d o n e s ia T b k . ( B C A P )
5. P T . I n d o r it e l M a k m u r I n t e r n a s io n a l T b k . ( D N E T )
6. P T . M N C A s ia H o ld in g T b k ( B H IT )
7. P T . C h a r n ic C a p it a l T b k . ( N IC K )
Sumber: Bursa Efek Indonesia
3 .1 .4 S tra te g i P e m a s a ra n
S tra te g i p e m a s a ra n P S I d a la m re n c a n a penam bahan k e g ia t a n u s a h a ja s a a n g k u ta n la u t
d o m e s t ik d ia r a h k a n p a d a p e n g e m b a n g a n la y a n a n p e n g a n g k u t a n b a r a n g b e r b a s is b usiness to
busin ess ( B 2 B ) d e n g a n p e n d e k a t a n la y a n a n k u s t o m is a s i s e s u a i k e b u t u h a n p e n g g u n a ja s a .
P e r u s a h a a n d ip o s is ik a n s e b a g a i p e n y e d ia ja s a a n g k u ta n la u t d a n lo g is tik t e r in t e g r a s i y a n g
b e rfo k u s p a d a p e m e n u h a n k e b u t u h a n d is t r ib u s i k o m o d it a s p e r t a m b a n g a n , k h u s u s n y a b ijih
n ik e l d a n b a tu k a p u r . D a la m p e la k s a n a a n n y a , P S I m e n y e d ia k a n la y a n a n p e n g a n g k u t a n h a s il
t a m b a n g m e n g g u n a k a n a r m a d a m ilik s e n d ir i d e n g a n d u k u n g a n p e n g e lo la a n o p e r a s io n a l d a n
ja d w a l p e la y a r a n yang te re n c a n a . K e g ia t a n bongkar m u a t d if o k u s k a n pada p e la b u h a n -
p e la b u h a n s t r a t e g is d i w ila y a h S u la w e s i, y a itu P e la b u h a n K e n d a r i d a n P e la b u h a n L a n g a r a ,
s e rta r u te P e la b u h a n R aha dan P e la b u h a n Baubau. M e la lu i s t r a t e g i p e m a s a r a n in i, PSI
m e n a r g e t k a n t e r b a n g u n n y a k e r ja s a m a ja n g k a m e n e n g a h h in g g a p a n ja n g d e n g a n p e r u s a h a a n
t a m b a n g , d e n g a n p e n e k a n a n p a d a a s p e k k e a n d a la n la y a n a n , e f is ie n s i b ia y a , k e p a s t ia n ja d w a l
p e n g a n g k u ta n , s e rta k o n t in u it a s o p e r a s io n a l, s e h in g g a s e c a ra k e s e lu r u h a n m endukung
k e la y a k a n u s a h a d a n p o t e n s i p e r t u m b u h a n p e n d a p a t a n P S I.
P T H o te l F itr a In te r n a tio n a l T b k
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P e n a m b a h a n K B L I a k t iv it a s p e r u s a h a a n h o ld in g t id a k m e n g h a s ilk a n p r o d u k a ta u la y a n a n y a n g
d ib e r ik a n la n g s u n g o le h F I T T k e p a d a p e la n g g a n s e h in g g a p e r u s a h a a n t id a k m e m ilik i a k t iv it a s
p e m a s a r a n . K e g ia t a n o p e r a s io n a l d ila k u k a n o le h a n a k u s a h a s e h in g g a a k t iv it a s b e r k a it a n
d e n g a n p e m a s a r a n la n g s u n g d ila k u k a n o le h e n t it a s a n a k .
3 .2 A s p e k T e k n is
D a la m a n a lis is k e la y a k a n p a d a A s p e k T e k n is , K J P P A n d e s t a m e la k u k a n e v a lu a s i d a n t in ja u a n
b e b e r a p a v a r ia b e l y a n g m e n ja d i b a g ia n d a r i A s p e k te k n is , a n t a r a la in :
3.2 .1 S p e s ifik a s i K a p a l
PSI akan m e m b e li kapal o p e r a s io n a l u n tu k m e n u n ja n g k e g ia t a n usaha sebagai ja s a
p e n g a n g k u t a n b a r a n g m e la lu i j a lu r p e la y a r a n d o m e s t ik d e n g a n s p e s if ik a s i s e b a g a i b e r ik u t:
a. N am a Kapal : J in g x i 01
1) In fo rm a s i D a s a r K a p a l
J e n is K a p a l T o n g k a n g K a rg o D e k (D e c k C a rg o B a rg e )
T a h u n P e m b u a ta n 2021
B e n d e ra I n d o n e s ia
P e la b u h a n R e g is tr a s i B a ta m
G ro s s T o n n a g e (G T ) 4016
D e a d w e ig h t ( D W T ) 9 .9 0 0 M T
2) D im e n s i U t a m a
P a n ja n g K e s e lu r u h a n ( L O A ) 9 1 , 4 4 m e t e r ( 3 0 0 ft)
L e b a r (B re a d th ) 2 7 , 4 3 m e t e r ( 9 0 ft)
D a la m ( D e p t h M L D ) 6 , 1 0 m e t e r ( 2 0 ft)
D r a ft 4 ,8 0 m e te r
3) S p e s if ik a s i S t r u k t u r
K e t e b a la n p la t lu n a s :12m m
K e t e b a la n p la t d a s a r :12m m
K e t e b a la n p la t s a m p in g :12m m
K e t e b a la n p la t d e k :1 2 m m
4) P e r a la t a n D e k
M e s in ja n g k a r 7 to n , d ig e r a k k a n m e s in
Jangkar 1 x 2 .0 0 0 k g ( ja n g k a r t a n p a b a t a n g )
D ia m e t e r r a n ta i ja n g k a r 38 m m
P T H o te l F itr a In te r n a tio n a l T b k
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• P a n ja n g r a n ta i ja n g k a r 1 0 8 m e te r
• T o w in g w ir e R a n t a i ja n g k a r 3 8 m m x 8 m , k a w a t b a ja 6 x 3 6 ( W S
x 2 4 m , t a m b a n g P P m a ta 1 0 in c i
• T a lita m b a t T a m b a n g P P m a ta 8 in c i
N am a Kapal K e lly 0 3
1) In fo rm a s i D a s a r K a p a l
• J e n is K a p a l K a p a l tu n d a [tug boat)
• B e n d e ra I n d o n e s ia
• P e la b u h a n R e g is tr a s i B a ta m
• G ro s s T o n n a g e (G T ) 207
• T a h u n P e m b u a ta n 2020
• G a la n g a n P e m b u a t K a r y a T e k n ik U t a m a
• P e m ilik K a p a l P T . A n a g a S h ip p in g I n d o n e s ia
2) P a r a m e t e r T e k n is U t a m a
• P a n ja n g K e s e lu r u h a n ( L O A ) 27 m
• L e b a r(B ) 8 ,2 m
• D a la m (H ) 4 m
• D r a f t (T ) 3 ,7 m
• M e s in U t a m a Y a n m a r 6 E Y 1 7 W , 1 1 3 8 H P @ 1 4 5 0 r p m x 2 u n it
• G e a rb o x Y a n m a r t y p e Y X H - 5 0 0 L x 2 U n it
• G enset Y a n m a r Y a m a g e n 4 T N V - 6 0 K V A x 2 U n it
3) P e r a la t a n D e k & K o n f ig u r a s i K a p a l
P e r a la t a n D e k
• Jangkar : 2 x 4 0 0 k g ( s t o c k le s s )
• D ia m e t e r r a n ta i ja n g k a r : 1 9 m m x P a n ja n g 2 4 5 m
• T o w in g r o p e : t a li P P d ia m e t e r 1 0 in c i x p a n ja n g 2 0 0 m
• M o o r in g lin e : t a li P P d ia m e t e r 6 in c i x P a n ja n g 1 0 0 m
P e r a la t a n N a v ig a s i
• R a d io S S B
• G P S N a v ig a t o r
• M a r in e R a d a r
• A I S C la s s A
PT Hotel Fitra In ternation al Tbk
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L ♦
KJPP E d i A n d e s t a dan Rekan
P e r a la t a n K e s e la m a t a n
• R a k it P e n o lo n g : 2 u n it x k a p a s it a s 1 0 o r a n g
• J a k e t p e la m p u n g : 1 2 b u a h
• P e la m p u n g ( life b u o y ) : 8 b u a h
P e r a la t a n P e m a d a m K e b a k a r a n
• A P A R d r y c h e m ic a l: 6 k g x 4 u n it, 9 k g x 2 u n it
• A P A R f o a m : 9 lit e r x 3 lite r
c. N am a Kapal : A S H E R A H 10
1) In fo rm a s i D a s a r K a p a l
• J e n is K a p a l : T o n g k a n g K a rg o D e k (D e c k C a rg o B a rg e )
• T a h u n P e m b u a ta n : 20 Juni 2022
• B e n d e ra : I n d o n e s ia
• P e la b u h a n R e g is tr a s i : B a ta m
• G ro s s T o n n a g e (G T ) : 4 . 0 1 6 to n
• D e a d w e ig h t ( D W T ) : 9 .6 0 0 to n
2) S p e s f ik a s i U t a m a
• P a n ja n g K e s e lu r u h a n : 9 1 , 4 4 m e t e r ( 3 0 0 k a k i)
• Lebar : 2 7 , 4 3 ( 9 0 k a k i)
• D a la m : 6 , 1 0 m e t e r (2 0 k a k i)
• D ra ft : 4 ,8 0 m e te r
K o n s tru k s i K a p a l
• K e t e b a la n p la t lu n a s 12 m m
• K e t e b a la n p la t d a s a r 12 m m
• K e t e b a la n p la t s is i 12 m m
• K e t e b a la n p la t d e k 14 m m
• K e t e b a la n s e k a t m e m a n ja n g 9 m m ( 3 la p is )
• K e t e b a la n s e k a t m e lin t a n g 9 mm
• K e t e b a la n p e la t p e n u t u p b u r it a n 12 m m
4) P e r a la t a n D e k
• W in c h ja n g k a r 7 to n ( d e n g a n m e s in p e n g g e r a k )
• Jangkar 1 x 1 .4 0 0 k g ( s t o c k le s s a n c h o r )
• D ia m e t e r r a n ta i ja n g k a r 34 m m
• P a n ja n g r a n ta i 1 0 8 m e te r
PT Hotel Fitra In ternation al Tb k
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• T o w in g w ir e : R a n t a i 3 8 m m x 6 m w ir e s lin g 6 x 3 8 ( W S ) x 2 4 M P P ,
t a li d ia m e t e r 1 0 in c i
• T a lita m b a t T a li P P d ia m e t e r 8 in c i
d. N am a Kapal A S H E R A H 11
1) In fo rm a s i D a s a r K a p a l
• J e n is K a p a l T o n g k a n g K a rg o D e k (D e c k C a rg o B a rg e )
• T a h u n P e m b u a ta n 2023
• B e n d e ra I n d o n e s ia
• P e la b u h a n R e g is tr a s i B a ta m
• B ir o K la s if ik a s i B K I ( B ir o K la s if ik a s i In d o n e s ia )
2) P a r a m e t e r T e k n is U t a m a
• P a n ja n g K e s e lu r u h a n 9 1 , 4 4 m e t e r ( 3 0 0 k a k i)
• Lebar 2 7 , 4 3 m e t e r ( 9 0 k a k i)
• D a la m 6 , 1 0 m e t e r ( 2 0 k a k i)
• D r a ft 4 ,9 3 m e te r
• G ro s s T o n n a g e (G R T ) 3 .8 8 9
• N e t T o n n a g e (N T ) 1 .1 6 7
• K a p a s it a M u a ta n ( P a y lo a d ) 9 .6 5 0 t o n
• K a p a s it a s B e b a n D e k 8 to n /m 2
3) M a t e r ia l S t r u k t u r
• K e t e b a la n p la t d a s a r 12 m m
• K e t e b a la n p la t s is i 12 m m
• K e t e b a la n p la t d e k 14 m m
• K e t e b a la n s e k a t m e m a n ja n g 9 m m (3 s e k a t m e m a n ja n g )
• K e t e b a la n s e k a t m e lin t a n g 9 mm
• K e t e b a la n p e la t b u r it a n 12 m m
4) P e r a la t a n D e k
• W in c h ja n g k a r 7 to n , d e n g a n m e s in p e n g g e r a k ( M o d e l: K 4 1 0 0 D )
• Jangkar 1 x 2 . 0 0 0 k g ( s t o c k le s s a n c h o r / ja n g k a r t a n p a
p a la n g )
• D ia m e t e r r a n ta i ja n g k a r 38 m m
• P a n ja n g r a n ta i ja n g k a r 108 m
• T o w in g g e a r r a n ta i 3 8 m m x 4 , 5 m , w ir e r o p e 6 x 3 8 ( W S ) x 2 4 m ,
t a li P P d ia m e t e r 1 0 in c i
P T H o te l F itr a In te r n a tio n a l T b k
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• T a lita m b a t : t a li P P d ia m e t e r 8 in c i
• F e n d e r ban : D 1 0 0 0 x 5 0 u n it, D 1 5 0 0 * 4 u n it
N am a Kapal : J IN G X I 0 2
1) In fo rm a s i D a s a r K a p a l
• J e n is K a p a l T o n g k a n g K a rg o D e k (D e c k C a rg o B a rg e )
• T a h u n P e m b u a ta n 2021
• B e n d e ra I n d o n e s ia
• P e la b u h a n R e g is tr a s i B a ta m
• G ro s s T o n n a g e (G T ) 4016
• D e a d w e ig h t ( D W T ) 1205
• K a p a s it a s M u a ta n 9850 MT
• T a n g g a l P e le t a k a n L u n a s 21 J u n i 2 0 2 1
2) D im e n s i U t a m a
• P a n ja n g K e s e lu r u h a n 9 1 , 4 4 m ( 3 0 0 k a k i)
• Lebar 2 7 , 4 3 m (9 0 k a k i)
• D a la m 6 ,1 0 m ( 2 0 k a k i)
• D ra ft 4 ,8 0 m
3) K o n s tru k s i K a p a l
• K e t e b a la n p la t lu n a s : 12 m m
• K e t e b a la n p la t d a s a r : 12 m m
• K e t e b a la n p la t s is i : 12 m m
• K e t e b a la n p la t d e k : 12 m m
• K e t e b a la n s e k a t m e m a n ja n g : 8 mm
• K e t e b a la n s e k a t m e lin t a n g : 8 mm
• K e t e b a la n p e la t p e n u t u p b u r it a n : 12 m m
4) P e r a la t a n D e k
• W in c h ja n g k a r 7 to n ( d e n g a n m e s in p e n g g e r a k )
• Jangkar 1 x 2 0 0 0 k g ( s t o c k le s s a n c h o r / j a n g k a r t a n p a
p a la n g )
• D ia m e t e r r a n ta i ja n g k a r 38 mm
• P a n ja n g r a n ta i 108 m m
• T o w in g g e a r R a n t a i 3 8 m m x 8 m W ir e s lin g 6 x 3 6 ( W S ) x 2 4
T a li M P P d ia m e t e r 1 0 in c i
• T a li t a m b a t T a li P P d ia m e t e r 8 in c i
PT Hotel Fitra In ternation al Tb k
Studi Kelayakan Bisnis Terkai Penambahan KBLI 56
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f. N am a Kapal
/ T I F I C
KJPP Edi A n d e s t a dan Rekan
: S e g a ra 6 0
S A L
*
1) In fo rm a s i D a s a r K a p a l
• J e n is K a p a l : T o n g k a n g K a rg o D e k (D e c k C a rg o B a rg e )
• T a h u n P e m b u a ta n : 2022
• G ro s s T o n n a g e (G T ) : 3889
• Net Tonnage : 1167
• K a p a s it a s M u a ta n : 9800 MT
• T a n g g a l P e le t a k a n L u n a s : 2 6 J u li 2 0 2 2
• G a la n g a n P e m b u a t : P T . K a r y a T e k n ik U t a m a
• K la s if ik a s i K a p a l : B K I C la s s S c a n t lin g
2) P a r a m e t e r T e k n is
• P a n ja n g K e s e lu r u h a n : 9 1 , 4 4 m e t e r ( 3 0 0 k a k i)
• Lebar : 2 7 , 4 3 m e t e r ( 9 0 k a k i)
• D a la m : 6 , 1 0 m e t e r ( 2 0 k a k i)
• S a r a t A ir ( D r a f t ) : 4 ,9 3 m e te r
3) P e r a la t a n D e k
• M e s in ja n g k a r : 7 t o n , d ig e r a k k a n m e s in , m o d e l Y F C M - 3 4
• Jangkar : 1 x 1 4 0 0 k g ( s t o c k le s s a n c h o r )
• D ia m e t e r r a n ta i : 34 mm
• P a n ja n g r a n ta i : 1 0 8 m e te r
g. N am a Kapal : J in g x i 0 3
1) In fo rm a s i D a s a r K a p a l
• J e n is K a p a l : T o n g k a n g K a rg o D e k (D e c k C a rg o B a rg e )
• B e n d e ra : I n d o n e s ia
• P e la b u h a n R e g is tr a s i : B a ta m
• M a r k o f f T o n . C e r t. : G T 4 0 1 6 N o . 9 0 6 8 /P P m
• K la s if ik a n K a p a l : B ir o K la s if ik a s i In d o n e s ia ( B K I)
• P a y lo a d : 10000 M T
• D eck Load : 8 to n
• Y e a r o f B u ild : 2021
• K e e l L a id : 4 Agustus 2021
• B u ild e r : K a r y a T e k n ik U t a m a
PT Hotel Fitra In ternation al Tb k
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R A S A L
o
2) D e c k E q u ip m e n t
• W in d la s s : 7 to n w it h e n g in e d r iv e n
• A nchor : 1 x 2 0 0 0 k g ( s t o c k le s s )
• D ia m e t e r C h a in : 38 mm
• L e n g th o f C h a in : 108 m
• T o w in g L in e : A n c h o r C h in e 3 8 m m x 8 m W ir e S lin g 6 x 3 6 ( W S )
x 2 4 m P P R o p e C ir c 1 0 ”
• M o o r in g L in e : P P R o p e C ir c 8 ”
3) P r in c ip le D im e n s io n
• L e n g th O .A . 9 1 ,4 4 m (3 0 0 F T )
• B r e a d t h (B ) 2 7 ,4 3 m (9 0 F T )
• D e p t h M ild 6 ,1 0 m (2 0 F T )
. D r a f t (T ) 4 ,8 0 m
4) S c a n t lin g
• K e e l P la te 12 m m
• B o t t o m P la te 12 m m
• S id e S h e e l 12 m m
• D e c k P la te 12 m m
• L o n g it u d in a l B H D 8 mm
• T ra n s v e rs a l B H D 8 mm
• T ra n s o m 12 m m
3 .2 .2 R e n c a n a P e n a m b a h a n K e g ia ta n U s a h a
F I T T a k a n m e n a m b a h k a n b e b e r a p a K B L I s e b a g a i u p a y a m e la n ju t k a n k e la n g s u n g a n u s a h a
dengan m e la k u k a n in v e s t a s i p e n y e r t a a n saham p a d a p e ru s a h a a n a n a k s e h in g g a d e n g a n
r e n c a n a p e n a m b a h a n K B L I, k e g ia t a n u s a h a P e r s e r o a n m e n ja d i s e b a g a i b e r ik u t:
Kode KBLI N am a KBLI K e te ra n g a n
Rencana Penam bahan KBLI
64200 A k tiv ita s P e ru s a h a a n H o ld in g K e lo m p o k ini m e n c a k u p ke g ia ta n d a ri p e ru s a h a a n
h o ld in g (h o ld in g c o m p a n ie s ), y a itu p e ru s a h a a n ya n g
m enguasai aset d a ri s e k e lo m p o k p e ru s a h a a n
s u b s id ia ri dan ke g ia ta n u ta m a n y a a d a la h
k e p e m ilik a n k e lo m p o k te rs e b u t. "H o ld in g C o m p a n ie s
' tid a k te rlib a t d a la m k e g ia ta n u s a h a p e ru s a h a a n
s u b s id ia rin y a . K e g ia ta n n y a m encakup ja s a ya n g
d ib e rik a n p e n a s ih a t (c o u n s e llo rs ) d a n p e ru n d in g
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Kode KBLI N am a KBLI K e te ra n g a n
( n e g o tia to r s ) d a la m m e ra n c a n g m e rg e r d a n a k u is is i
p e ru s a h a a n .
50131 A n g k u ta n L a u t D a la m N e g e ri K e lo m p o k ini m encakup usaha p e n g a n g k u ta n
u n tu k B a ra n g U m u m b a ra n g u m u m m e la lu i la u t d e n g a n m e n g g u n a k a n
kapal la u t a n ta rp e la b u h a n d a la m n e g e ri d e n g a n
m e la y a ri tra y e k s e c a ra te ta p dan te ra tu r (lin e r)
d e n g a n b e rja d w a l, a ta u tra y e k tid a k te ta p d a n tid a k
te ra tu r (tra m p e r). T e rm a s u k usaha p e rs e w a a n
a n g k u ta n la u t b e rik u t o p e ra to rn y a
50133 A n g k u ta n L a u t D a la m N e g e ri K e lo m p o k ini m encakup usaha p e n g a n g k u ta n
u n tu k B a ra n g K h u s u s b a ra n g dengan m enggunakan kapal la u t ya n g
d ira n c a n g s e c a ra k h u s u s u n tu k m e n g a n g k u t su a tu
je n is b a ra n g te rte n tu , s e p e rti a n g k u ta n b a ra n g
b e rb a h a y a , lim b a h b a h a n b e rb a h a y a d a n b e ra cu n ,
bahan b a k a r m in y a k , m in y a k b u m i, h a sil o la h a n ,
L P G , L N G d a n C N G , ika n d a n s e je n is n y a . T e rm a s u k
u s a h a p e rs e w a a n a n g k u ta n la u t b e rik u t o p e ra to rn y a .
50141 A n g k u ta n L a u t L u a r N e g e ri K e lo m p o k ini m encakup usaha p e n g a n g k u ta n
u n tu k B a ra n g U m u m b a ra n g m e la lu i la u t d e n g a n m e n g g u n a k a n k a p a l la u t
a n ta rp e la b u h a n d i In d o n e s ia d e n g a n p e la b u h a n di
lu a r n e g e ri d e n g a n m e la y a ri tra y e k s e c a ra te ta p dan
te ra tu r (lin e r) d e n g a n b e rja d w a l, a ta u tra y e k tid a k
te ta p d a n tid a k te ra tu r (tra m p e r). T e rm a s u k u s a h a
p e rs e w a a n a n g k u ta n la u t b e rik u t o p e ra to rn y a .
50142 A n g k u ta n L a u t L u a r N e g e ri K e lo m p o k ini m encakup usaha a n g k u ta n la u t
u n tu k B a ra n g K h u s u s in te rn a s io n a l u n tu k b a ra n g kh u s u s , c o n to h n y a
a n g k u ta n b a ra n g b e rb a h a y a , lim b a h bahan
b e rb a h a y a dan b e ra c u n , te rm a s u k ikan dan
s e je n is n y a . A n g k u ta n la u t khusus dengan
m e n g g u n a k a n k a p a l b e rb e n d e ra In d o n e s ia d e n g a n
k o n d is i dan p e rs y a ra ta n k a p a ln y a d is e s u a ik a n
d e n g a n je n is ke g ia ta n u s a h a p o k o k n y a s e rta u n tu k
m e la y a n i tra y e k tid a k te ta p d a n tid a k te ra tu r a ta u
tra m p e r a n ta rp e la b u h a n di In d o n e s ia dengan
p e la b u h a n di lu a r n e g e ri. T e rm a s u k usaha
p e rs e w a a n a n g k u ta n la u t b e rik u t o p e ra to rn y a .
3 .2 .3 K e te rs e d ia a n d a n K u a lita s S u m b e r D a y a
P S I s a a t in i b e lu m r e s m i b e r o p e r a s i s e c a r a k o m e r s ia l d a n k e te r s e d ia a n s u m b e r d a y a m a n u s ia
h a n y a t e r d a p a t p a d a p o s is i in ti y a n g d it u g a s k a n p e m e g a n g s a h a m . T im m a n a je m e n in ti y a itu
D ir e k s i dan K o m is a r is P S I. Di s is i la in , d a la m penam bahan k e g ia t a n usaha a k t iv it a s
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p e r u s a h a a n h o ld in g , F I T T m e m ilik i k a p a s it a s t e r k a it d e n g a n k e g ia t a n u s a h a s e b a g a i a k t if it a s
p e r u s a h a a n h o ld in g y a it u d ia n t a r a n y a :
a. F IT T d id ir ik a n pada ta h u n 2014 sebagai p e ru s a h a a n m a n a je m e n p e r h o t e la n yang
k o m p e t e n d i I n d o n e s ia , d e n g a n p r in s ip u ta m a m e m b e r ik a n p e la y a n a n y a n g t e r b a ik u n t u k
ta m u d e n g a n h a r g a y a n g t e r ja n g k a u . K e g ia t a n u s a h a b e r u s a h a d a la m b id a n g k o n s t r u k s i
g e d u n g , b e r u s a h a d a la m b id a n g p e n y e d ia a n a k o m o d a s i, b e r u s a h a d a la m b id a n g re a l
e s ta t , b e r u s a h a d a la m b id a n g a k t iv it a s o la h r a g a d a n r e k r e a s i la in n y a . K e g ia t a n U s a h a
F I T T d ija la n k a n o le h 2 a n a k p e r u s a h a a n y a itu B M P d a n F A W d e n g a n r in g k a s a n s e b a g a i
b e r ik u t :
1) B M P m e n g e lo la h o te l b in t a n g 3 F it r a H o te l M a ja le n g k a y a n g b e r a la m a t d i J a la n K .H .
Abdul H a lim No. 88, K e lu r a h a n M u n ju l, K e c a m a ta n M a ja le n g k a , K a b u p a te n
M a ja le n g k a , P r o v in s i J a w a B a r a t.
2) FAW m e r u p a k a n p e r u s a h a a n y a n g m e m ilik i k e g ia t a n u s a h a w is a t a r e lig i d a n t o u r
t r a v e l h a ji s e la in itu u s a h a la in n y a y a itu p e n y e d ia a n h o te l d a n p e n g in a p a n bagi
ja m a a h h a ji s e rta m a n a je m e n p e n g e lo la a n w is a t a r e lig i m a n a s ik u m ra h yang
p r o p e s io n a l, a m a n a h d a n b e r k a h .
b. K e p e m ilik a n saham s e c a r a la n g s u n g pada B M P dan FAW m e n u n ju k k a n F IT T s u d a h
m e m ilik i p e n g a la m a n d a la m k e g ia t a n in v e s t a s i pada p e ru s a h a a n b e rb a g a i s e k to r .
K e m u d ia n , F IT T b e re n c a n a m e la k u k a n d iv e s t a s i e n t it a s anak yang d im ilik i s e c a ra
la n g s u n g y a it u (i) B M P , d a n (ii) F A W . F I T T b e r e n c a n a u n t u k m e la k u k a n d iv e s t a s i e n t it a s
a n a k y a n g d im ilik i s e c a r a la n g s u n g y a it u (i) B M P , d a n ( ii) F A W . D iv e s t a s i p a d a B M P u n t u k
k e p e m ilik a n s a h a m s e b e s a r 9 9 , 9 9 9 8 % a ta u 5 4 9 . 9 9 9 le m b a r s a h a m m ilik F IT T . D iv e s t a s i
p a d a F A W u n t u k k e p e m ilik a n s a h a m s e b e s a r 9 9 , 9 6 % a ta u 5 0 2 . 2 9 9 le m b a r s a h a m . F I T T
ju g a b e r e n c a n a m e la k u k a n in v e s t a s i p a d a P S I y a itu p e r u s a h a a n y a n g b e r g e r a k d ib id a n g
ja s a p e n g a n g k u ta n b a r a n g j a lu r p e la y a r a n d o m e s t ik m aupun in t e r n a s io n a l s e h in g g a
p e ru s a h a a n akan penam bahan KBU a k t if it a s p e ru s a h a a n h o ld in g pada k e g ia t a n
usahanya. D ila t a r b e la k a n g i u p a y a F IT T yang akan m e n ja d i p e m b e li d a la m re n c a n a
A k u is is i S a h a m E k s is t in g P S I, d im a n a F I T T a k a n m e la k u k a n a k u s is i k e p e m ilik a n s a h a m
s e b e s a r R p . 1 4 ,0 0 m ilia r .
c. B a h a n b a k u m e n ta h
D a la m re n c a n a penam bahan k e g ia t a n usaha, F IT T t id a k m e n g h a s ilk a n p ro d u k a ta u
la y a n a n s e h in g g a t id a k t e r d a p a t b a h a n b a k u m e n ta h y a n g d ig u n a k a n .
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s N T I F I C
B a n y a k n y a K a p a l d a n K a p a s ita s D a y a A n g k u t
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R I S A L
*
a. P S I b e lu m m e m ilik i a r m a d a u n t u k k e g ia t a n o p e r a s io n a l s a m p a i d e n g a n t a n g g a l s t u d y
k e la y a k a n . S e s u a i d e n g a n b usiness plan y a n g d ib u a t o le h m a n a je m e n , t e r d a p a t in v e s t a s i
b e r u p a 6 u n it k a p a l t o n g k a n g d a n 1 u n it tu g b o a t d e n g a n s p e s if ik a s i s e s u a i d e n g a n p a d a
s u b b a b 3 .2 .1 . P e m b e lia n k a p a l d ir e n c a n a k a n s e le s a i s e b e lu m J u n i 2 0 2 6 s e ja la n d e n g a n
t a r g e t P S I u n t u k d a p a t b e r o p e r a s i p a d a J u n i 2 0 2 6 . S a m p a i d e n g a n t a h u n 2 0 3 0 t id a k a d a
r e n c a n a p e n a m b a h a n k a p a l a ta u r e n c a n a p e m b a r u a n a r m a d a s e la in p e m b e lia n 6 u n it
k a p a l t o n g k a n g d a n 1 u n it tu g b o a t. P S I a k a n m e n y e w a 5 u n it t u g b o a t u n t u k m e n u n ja n g
k e g ia t a n o p e r a s io n a l p e r u s a h a a n s e h in g g a ju m la h k a p a l m ilik i s e n d ir i y a it u 6 u n it k a p a l
t o n g k a n g d a n 1 u n it tu g b o a t d a n k a p a l s e w a s e ju m la h 5 u n it tu g b o a t .
b. R a t a - r a t a k a p a s it a s d a y a a n g k u t k a p a l y a itu s e b e s a r 9 . 8 0 0 M T p e r p e la y a r a n .
3 .2 .5 P e k e rja d a n A h li P ro fe s io n a l
B e r ik u t b e b e r a p a p e k e r ja d a n d a n a h li p r o f e s s io n a l y a n g d im ilik i P S I d a n F IT T d ia n t a r a n y a :
a. P S I s a a t in i b e lu m r e s m i b e r o p e r a s i s e c a r a k o m e r s ia l d a n k e t e r s e d ia a n s u m b e r d a y a
m a n u s ia hanya te rd a p a t pada p o s is i in ti yang d it u g a s k a n pem egang saham . T im
m a n a je m e n in ti y a it u D ir e k s i d a n K o m is a r is P S I. R e n c a n a p e r e k r u t a n k a ry a w a n a k a n
d im u la i p a d a F e b r u a r i 2 0 2 6 u n t u k m e n g is i b e r b a g a i p o s is i.
b. P S I a k a n m e n a m b a h te n a g a c re w k a p a l d e n g a n to ta l 6 0 o ra n g . C re w k a p a l y a n g a k a n
d ir e k r u t h a ru s m e m ilik i s e r t if ik a t d ia n t a r a n y a u n tu k aw ak kapal m e m ilik i s e r t if ik a s i
(■S tandards o f Training, C ertification, a n d W atchkeeping ( S T C W ) y a itu s e r t if ik a s i p e la t ih a n
a w a k k a p a l in t e r n a s io n a l. S e r t a s e r t if ik a t k o m p e t e n s i la in n y a d a n u n t u k p o s is i m a n a je m e n
d a r a t s e p e r t i m a n a je m e n k a p a l, in s iy u r p e r a w a t a n , a h li p e r e n c a n a a n lo g is t ik m e m ilik i
p e n d id ik a n t e r k a it lo g is tik a ta u p e la y a r a n d a n s e r t if ik a s i IS O 9 0 0 1 /2 8 0 0 0 .
c. S e la in r e k r u t m e n y a n g d ila k u k a n o le h p ih a k P S I, t e n a g a a h li u n t u k k e g ia t a n o p e r a s io n a l
kapal akan d iis i o le h c re w kapal b e r p e n g a la m a n d a ri p e ru s a h a a n p e m ilik kapal
s e b e lu m n y a . H a l t e r s e b u t s e s u a i d e n g a n k e s e p a k a t a n a n t a r a P S I d e n g a n p e m ilik k a p a l
d a la m p e m b e lia n u n it k a p a l b a h w a p e m ilik k a p a l a k a n t u r u t m e n y e r t a k a n A n a k B u a h
K a p a l ( A B K ) k e p a d a P S I s e la m a 1 t a h u n p e r t a m a p e m b e lia n .
d. P a d a p e r io d e 3 0 S e p t e m b e r 2 0 2 5 , F I T T m e m ilik i k a r y a w a n s e b a n y a k 6 2 o r a n g t e r d ir i d a r i
2 3 k a r y a w a n te t a p , 2 2 k a r y a w a n k o n t r a k s e r t a 1 7 k a r y a w a n h a r ia n b e r d a s a r k a n L a p o r a n
K e u a n g a n A u d it p e r 3 0 S e p t e m b e r 2 0 2 5 . R e n c a n a p e n a m b a h a n A k t iv it a s P e r u s a h a a n
H o ld in g t id a k m e n a m b a h s u m b e r d a y a m a n u s ia F I T T d e n g a n t e t a p m e m p e r t a h a n k a n
s e lu r u h k a r y a w a n d a n p e n g u r u s .
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3 .2 .6 A lu r d a n F lo w C h a rt
D a la m m e n ja la n k a n b is n is pada k e g ia t a n u s a h a ja s a p e n g a n g k u ta n b a ra n g m e la lu i ja lu r
p e la y a r a n d o m e s t ik , P S I m e m ilik i a lu r b is n is s e b a g a i b e r ik u t:
Nam a Tahapan D e s k r ip s i B is n is A lu r P ro s e s
1. B oo king B e r d a s a r k a n p e r m in ta a n (1 ) M e n e r im a p e r m in t a a n
p e la n g g a n , m e la k u k a n t r a n s p o r t a s i p e la n g g a n
p e m e s a n a n k a rg o u n tu k (2 ) M e m e r ik s a k a p a s it a s
p e n g ir im a n b a r a n g t r a n s p o r t a s i k a p a l d a n r u te
p e la y a r a n
(3 ) K o n f ir m a s i r u a n g k a r g o d a n
la k u k a n r e s e r v a s i
\ r
(4 ) M e n g ir im k a n s u r a t k o n f ir m a s i
p e m e s a n a n k e p a d a p e la n g g a n
2. Loailin g M e m u a t b a ra n g k e k a p a l (1 ) M e m a s t ik a n w a k t u d a n lo k a s i
y a n g t e la h d ip e s a n p e m u a t a n d e n g a n p e la n g g a n
(2 ) M e m p e r s ia p k a n d o k u m e n d a n
p e r a la t a n y a n g d ip e r lu k a n u n t u k
p e m u a ta n
(3 ) M e n g a w a s i p ro s e s p e m u a ta n
u n t u k m e m a s t ik a n b a r a n g
y d im u a t d e n g a n a m a n
(4 ) S e t e la h p e m u a t a n s e le s a i,
m e la k u k a n p e n g e c e k a n d a f t a r
m u a ta n ( m a n if e s t )
3. T rar s p o lia tio n M e n g a n g k u t b a ra n g d a ri (1 ) K a p a l b e r a n g k a t d a n m e la k u k a n
P e la b u h a n a s a l k e p e la y a r a n d i la u t
P e la b u h a n t u ju a n (2 ) M e m a n ta u p e rg e ra k a n k a p a l di
m e nggunakan kapal k o n d is i k a r g o
(3 ) M e m a s t ik a n k e a m a n a n d a n
e f is ie n s i k a p a l s e la m a p e la y a r a n
\ r
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Nam a Tahapan D e s k r ip s i B is n is A lu r P ro s e s
4. Un o<id in g M e m b o n g k a r a ta u (1 ) B e r k o o r d in a s i d e n g a n
m e n u ru n k a n b a ra n g d a ri P e la b u h a n t u ju a n u n t u k
k a p a l d i P e la b u h a n t u ju a n p e r s ia p a n p e m b o n g k a r a n
(2 ) M e n g a w a s i p ro s e s
p e m b o n g k a ra n u n tu k
m e m a s t ik a n b a r a n g d it u r u n k a n
r dengan am an
(3 ) M e m e r ik s a d a f t a r p e m b o n g k a r a n
( c a r g o u n lo a d in g lis t) u n t u k
m e m a s t ik a n t id a k a d a k e s a la h a n
5. De liv e ry M e n y e ra h k a n b a ra n g (1 ) P e la n g g a n m e n e r im a b a r a n g
k e p a d a p e la n g g a n s e c a r a d a n m e la k u k a n
f in a l p e n a n d a t a n g a n a n b u k ti
p e n e r im a a n
(2 ) M e m b e r ik a n d o k u m e n d a n
b e r k a s y a n g d ip e r lu k a n k e p a d a
p e la n g g a n
(3 ) M e n y e le s a ik a n k o n t r a k
r
p e n g a n g k u t a n d a n m e la k u k a n
p e n y e le s a ia n t r a n s a k s i b is n is
Sumber: Manajemen PSI
3 .3 A s p e k P o la B is n is
3.3 .1 K e u n g g u la n K o m p e titif
B e r ik u t m e r u p a k a n k e u n g g u la n p o la b is n is a g a r le b ih k o m p e t it if d a la m m e n ja la n k a n k e g ia t a n
u s a h a ja s a p e n g a n g k u t a n b a r a n g m e la lu i p e la y a r a n d o m e s t ik :
a. P S I a k a n m e n y e d ia k a n la y a n a n p e n g a n g k u t a n d e n g a n a r m a d a k a p a l d e n g a n r u te y a n g
d ija la n k a n s e s u a i d e n g a n s t a n d a r in d u s t r i u n t u k m e m e n u h i k e b u t u h a n p e n g ir im a n t e p a t
w a k t u k e t e m p a t t u ju a n . K e c e p a t a n d a n k e te p a t a n w a k t u la y a n a n m e r u p a k a n n ila i t a m b a h
b a g i p e r u s a h a a n p e n g a n g k u t a n b a r a n g b a g i p e m ilik k a r g o . D a la m p e n y e d ia a n la y a n a n
r u te , p e ru s a h a a n te ru s b e ru p a y a u n tu k m e n in g k a t k a n penggunaan s is t e m n a v ig a s i
m o d e rn dan m e la k u k a n p e n ja d w a la n yang e fis ie n u n tu k p e m ilik k a rg o . R u te u ta m a
p e la y a r a n P S I m e ru p a k a n r u te y a n g s u d a h m a t a n g d e n g a n e f is ie n s i o p e r a s io n a l y a n g
s t a b il.
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b. PSI kedepan akan m em bangun lo y a lit a s dengan p e la n g g a n m e la lu i k o n t r a k ja n g k a
p a n ja n g s e r t a b e k e r ja s a m a d e n g a n k lie n b e s a r . M e s k ip u n s a a t in i P S I b e lu m m e m ilik i
k o n tra k re s m i d e n g a n p e m ilik k a r g o d ik a r e n a k a n b e lu m m e m ilik i a r m a d a k a p a l s e rta
b e lu m b e r o p e r a s i s e c a r a r e s m i.
S e m e n ta ra itu , d a la m upaya penam bahan k e g ia t a n usaha a k t if it a s p e ru s a h a a n h o ld in g ,
k e u n g g u la n k o m p e t it if F I T T d a la m m e n ja la n k a n u s a h a n y a y a it u m e m ilik i track record s e b a g a i
p e r u s a h a a n in d u k d e n g a n k e p e m ilik a n s a h a m la n g s u n g p a d a B M P d a n F A W s e h in g g a F I T T
d a p a t d ia n g g a p p e r u s a h a a n in v e s t a s i y a n g b e r p e n g a la m a n . S e ja la n d e n g a n penam bahan
k e g ia t a n u s a h a a k t if it a s p e r u s a h a a n h o ld in g m a k a p e r u s a h a a n b e r e n c a n a m e la k u k a n in v e s t a s i
p a d a P S I a ta u s e k t o r la in n y a d e n g a n m e m p e r t im b a n g k a n p o t e n s i p a s a r g u n a m e n in g k a t k a n
d a y a s a in g F IT T .
3 .3 .2 K e m a m p u a n P e s a in g u n tu k M e n iru P ro d u k
J u m la h p e s a in g b is n is y a n g m e m ilik i k a r a k t e r b is n is y a n g s a m a d e n g a n P S I ju m la h n y a b a n y a k ,
k a re n a s u d a h b a n y a k p e ru s a h a a n a n g k u ta n la u t y a n g b e r iz in d i In d o n e s ia . K e m u n g k in a n
p e s a in g b a ru m em asuki b id a n g usaha yang sam a ju g a cukup besar s e ja la n dengan
p e rk e m b a n g a n t r a n s p o r t a s i lo g is t ik la u t s e h in g g a m em buat usaha le b ih k o m p e t it if . U p a y a
u n t u k t e t a p b e r t a h a n d it e n g a h p e r s a in g a n y a n g k o m p e t it if d a p a t d ila k u k a n o le h P S I d e n g a n
p e n e r a p a n s t r a t e g i d if e r e n s ia s i la y a n a n y a n g t id a k m u d a h d it ir u o le h p e s a in g . H a l t e r s e b u t
d ila k u k a n d e n g a n f o k u s p a d a s e g m e n b usiness to b usiness d e n g a n s p e s ia lis a s i a n g k u ta n
u n t u k k o m o d it a s b ijih n ik e l d a n b a tu k a p u r , y a n g m e m b u t u h k a n penanganan k h u s u s s e rta
p e m a h a m a n m e n d a la m t e r h a d a p in d u s t r i p e r t a m b a n g a n . F o k u s p a d a r u t e - r u t e s t r a t e g is s e p e r t i
r u t e d i P u la u S u la w e s i, p e n g g u n a a n k a p a l y a n g s e s u a i d e n g a n k a r a k t e r is t ik m u a ta n , s e r t a
p e n e ra p a n s t a n d a r k e s e la m a t a n dan k e p a tu h a n akan m endukung P S I d a la m b e r s a in g di
in d u s t r i ja s a a n g k u t a n la u t.
S e la in itu , p e r s a in g a n d e n g a n b id a n g u s a h a p e r u s a h a a n in v e s t a s i a ta u p e r u s a h a a n h o ld in g
c u k u p b e s a r d im a n a p e r u s a h a a n la in d a p a t m e la k u k a n in v e s t a s i p a d a p e r u s a h a a n la in y a n g
d ip e r k ir a k a n m e m ilik i p o t e n s i p a s a r y a n g b a ik . K e g ia t a n u s a h a in i t id a k m e n g h a s ilk a n p r o d u k
s e h in g g a p e s a in g yang m e m ilik i d a n a in v e s t a s i d a p a t m e la k u k a n p e n y e rta a n saham dan
m e n ja d i p e r u s a h a a n in d u k . H a l t e r s e b u t m e m b u a t p e s ia n g a n m e n ja d i k o m p e t it if .
3 .3 .3 K e m a m p u a n u n tu k M e n c ip ta k a n N ila i
Kem am puan m e n c ip t a k a n n ila i y a n g d im a k s u d m e lip u ti n ila i b a g i P e r s e r o a n m aupun bagi
p e la n g g a n . Penam bahan k e g ia t a n usaha dengan r u te yang b e rfo k u s d i S u la w e s i d a p a t
m e m b e r ik a n s a la h s a tu p ilih a n b a g i p e r u s a h a a n p e m ilik k a r g o d i p a s a r y a n g m e m b u t u h k a n
ja s a la y a n a n t r a n s p o r t a s i la u t d o m e s t ik . D is is i la in , p e n a m b a h a n k e g ia t a n u s a h a t r a n s p o r t a s i
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la u t d a p a t m e m b e r ik a n ta m b a h a n s u m b e r p e n d a p a ta n b a g i P e rs e ro a n dan m e n in g k a t k a n
k in e r ja k e u a n g a n .
D a la m p e n a m b a h a n u s a h a a k t iv it a s p e r u s a h a a n h o ld in g d a p a t m e m b e r ik a n t a m b a h a n s u m b e r
p e n d a p a t a n d a n m e n in g k a t k a n k in e r ja k e u a n g a n b a g i F IT T . S e la n ju t n y a , d a r i m a n f a a t t e r s e b u t
m a k a p e n a m b a h a n k e g ia t a n u s a h a t e r s e b u t m a m p u m e m b e r ik a n n ila i t a m b a h u n t u k F IT T .
3 .3 .4 P ro s e s O p e ra s i
B e r d a s a r k a n d a t a d a r i m a n a je m n P S I, d a la m m e la n ja k a n k e g ia t a n o p e r a s io n a l m e r u ju k p a d a
P ro s e d u r O p e ra s i S ta n d a r P ro s e s s e b a g a i b e r ik u t :
N am a Tahapan it e m P e m e r ik s a a n Penanggung Jaw ab
24 jam sebelum masuk 1. Memeriksa persyaratan pencegahan Chief Officer
pelabuhan epidemi terbaru di pelabuhan,
2. Menguji kondisi mesin utama atau mesin Chief Engineer
bantu dan kendaraan darurat Cadangan.
1 jam sebelum bersandar / 1. Konfirmasi informasi pilot yang akan naik ke Kapten
sandar kapal,
2. Memeriksa peralatan berlabuh (tali tambat Boatswain
atau winch).
Setelah meninggalkan Menyerahkan “log masuk-keluar pelabuhan” ke Second Officer
pelabuhan perusahaan.
3 .3 .5 L o k a s i d a n A k s e s ib ilta s te r h a d a p B a ra n g M u a ta n
R u t e o p e r a s io n a l u ta m a P e r u s a h a a n a k a n b e r f o k u s d i W ila y a h S u la w e s i y a it u R u te K e n d a r i -
L a n g a r a d a n R u te R a h a - B a u b a u d e n g a n r in c ia n s e b a g a i b e r ik u t:
a. R u te K e n d a ri - L a n g a ra
R u t e 1 in i m e r u p a k a n r u t e d e n g a n p e la b u h a n m u a t d i K e n d a r i d a n p e la b u h a n b o n g k a r d i
L a n g a r a d e n g a n a s u m s i t o t a l ja r a k t e m p u h p u la n g p e r g i k a p a l s e ja u h 6 0 m ile , k e c e p a ta n
k a p a l 4 k n o t, d a n t o t a l w a k t u p e r t r ip 8 , 6 3 h a r i. J a lu r r u t e p e la y a r a n m e la u i K e n d a r i -
L a n g a r a d a p a t d ilih a t p a d a g a m b a r b e r ik u t :
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A I S A L
O
G a m b a r : R u te K e n d a ri - L a n g a ra
K o n d is i e k s is t in g P e la b u h a n K e n d a r i d a n P e la b u h a n L a n g a r a s e b a g a i b e r ik u t:
G a m b a r : P e la b u h a n K e n d a r i d a n L a n g a r a
Sumber: Manajemen PSI
b. R u te R a h a - B a u b a u
R u t e 2 m e r u p a k a n r u t e d e n g a n p e la b u h a n m u a t d i R a h a d a n p e la b u h a n b o n g k a r d i B a u
b a u d e n g a n a s u m s i t o t a l ja r a k t e m p u h p u la n g p e r g i k a p a l s e ja u h 8 4 m ile , k e c e p a t a n k a p a l
4 k n o t, d a n to ta l w a k t u p e r t r ip 8 , 8 8 h a r i. J a lu r r u t e p e la y a r a n m e la u i R a h a - B a u - b a u d a p a t
d ilih a t p a d a g a m b a r b e r ik u t:
J a lu r r u t e p e la y a r a n m e la u i R a h a - B a u b a u d a p a t d ilih a t p a d a g a m b a r b e r ik u t :
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o
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G a m b a r : R u te R a h a - B a u b a u
K o n d is i e k s is t in g P e la b u h a n K e n d a r i d a n P e la b u h a n L a n g a r a s e b a g a i b e r ik u t:
G a m b a r : P e la b u h a n R a h a d a n B a u b a u
Sumber: Manajemen PSI
3 .3 .6 P o te n s i s u m b e r m u a ta n d a n w ila y a h ta r g e t p a s a r
B e rd a s a rk a n d a ta m a n a je m e n , m u a ta n p e la n g g a n PSI y a it u p e n g a n g k u ta n u n tu k je n is
k o m o d it a s b ijih n ik e l d a n b a tu k a p u r v o lu m e p e r p e la y a r a n s e k it a r 9 . 8 0 0 M T . D a f t a r d e n g a n
p e r s y a r a t a n k h u s u s p e n g ir im a n s e b a g a i b e r ik u t:
a. T a n g g u n g ja w a b p e n u h u n t u k b o n g k a r m u a t.
b. P e m ilik k a r g o m e n a n g g u n g s e lu r u h r is ik o p e n g a n g k u t a n .
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c. B ia y a d e m u r r a g e a ta u b ia y a y a n g h a r u s d ib a y a r k a n a p a b ila g a g a l m e n g e lu a r k a n b a r a n g
s e s u a i d e n g a n ja d w a l y a n g d it e n t u k a n s e b e s a r R p 5 0 ju t a / h a r i. B ia y a in i d ik e lu a r k a n
d e n g a n k e t e n t u a n jik a m e le b ih i k e t e n t u a n h a r i p e la y a r a n .
3 .3 .7 P e s a in g d is e k ita r lo k a s i
B e r d a s a r k a n in f o r m a s i m a n a je m e n , p e r u s a h a a n y a n g b e r g e r a k d i J a s a y a n g s a m a u n t u k r u te
p e n g a n g k u t a n b ijih n ik e l a ta u b a tu k a p u r s e b a g a i b e r ik u t :
a. P T . M e r a t u s L in e m e r u p a k a n p e r u s a h a a n p e la y a r a n lo k a l y a n g b e r a s a l d a r i In d o n e s ia d a n
m e n g u t a m a k a n s t r a t e g i h a r g a r e n d a h u n t u k ja s a n y a .
b. S a m u d e r a S h ip p in g L in e ( p e m ilik k a p a l S in g a p u r a , r u t e n y a m e n c a k u p A s ia T e n g g a r a ,
m e n a w a r k a n la y a n a n f r e k u e n s i t in g g i) .
c. T a n t o In tim L in e ( p e n g a n g k u t k a r g o c u r a h I n d o n e s ia , f o k u s p a d a p e n g a n g k u t a n m in e r a l) .
d. M I S C B e r h a d ( p e r u s a h a a n p e la y a r a n M a la y s ia , m e n y e d ia k a n la y a n a n lo g is tik t e r p a d u ) .
e. C O S C O S h ip p in g B u lk ( p e r u s a h a a n m ilik n e g a r a C h in a , d e n g a n k a p a s it a s a n g k u t b e s a r ) .
B e r ik u t in i m e r u p a k a n p e r b a n d in g a n s t r a t e g i t a r if d a r i m a n a je m e n a ta s p e s a in g y a n g b e r u s a h a
d ib id a n g y a n g s a m a d e n g a n P S I.
T a b e l : P e r b a n d i n g a n S t r a t e g i T a r i f P e s a in g
No. N a m a P e ru s a h a a n S tr a te g i T a r if K e te ra n g a n
1. P T M e r a t u s L in e P e r s a in g a n h a r g a r e n d a h T a r if p e n g a n g k u t a n 1 0 % -
1 5 % le b ih r e n d a h d a r i r a ta -
ra ta p a s a r.
2. S a m u d e r a S h ip p in g H a r g a m e n e n g a h - t in g g i, M e n y e d ia k a n la y a n a n n ila i
f r e k u e n s i p e la y a r a n tin g g i t a m b a h ( c o n t o h n y a : ja s a
L in e
kepabeanan)
3. P T T a n t o In tim H a r g a m e n e n g a h , k e r ja P r o p o r s i k lie n k o n t r a k ja n g k a
s a m a s t a b il p a n ja n g t in g g i
L in e
4. M IS C B e rh a d L a y a n a n p r e m iu m , A rm a d a k a p a l m o d e rn
k e a n d a la n t in g g i d e n g a n c a k u p a n a s u ra n s i
le n g k a p
5. C O S C O S h ip p in g K e u n g g u la n s k a la , D is k o n b e s a r u n t u k k lie n
p e n e t a p a n h a r g a f le k s ib e l u ta m a
B u lk
Sumber: Manajemen PSI
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3 .4 A s p e k M o d e l M a n a je m e n
3.4 .1 K e te rs e d ia a n T e n a g a K e rja
U n t u k p e n a m b a h a n k e g ia t a n u s a h a s e b a g a i ja s a p e n g a n g k u t a n b a r a n g m e la lu i j a lu r p e la y a r a n
d o m e s t ik , m a k a t e r k a it k e b u t u h a n t e n a g a k e r ja b e r d a s a r k a n e v a lu a s i d e n g a n m a n a je m e n P S I
d is a m p a ik a n b a h w a :
a. P S I s a a t in i b e lu m r e s m i b e r o p e r a s i s e c a r a k o m e r s ia l d a n k e te r s e d ia a n sum ber daya
m a n u s ia hanya te rd a p a t pada p o s is i in ti yang d it u g a s k a n pem egang saham . T im
m a n a je m e n in ti y a itu D ir e k s i d a n K o m is a r is P S I. R e n c a n a p e re k ru ta n k a ry a w a n akan
d im u la i p a d a F e b r u a r i 2 0 2 6 u n t u k m e n g is i b e r b a g a i p o s is i b a g ia n a d m in is t r a s i u m u m d a n
b a g ia n c r e w .
b. S e la in r e k r u t m e n y a n g d ila k u k a n o le h p ih a k P S I, t e n a g a a h li u n t u k k e g ia t a n o p e r a s io n a l
kapal akan d iis i o le h c re w kapal b e r p e n g a la m a n d a ri p e ru s a h a a n p e m ilik kapal
s e b e lu m n y a . H a l t e r s e b u t s e s u a i d e n g a n k e s e p a k a t a n a n t a r a P S I d e n g a n p e m ilik k a p a l
d a la m p e m b e lia n u n it k a p a l b a h w a p e m ilik k a p a l a k a n t u r u t m e n y e r t a k a n A n a k B u a h K a p a l
( A B K ) k e p a d a P S I s e la m a 1 ta h u n p e r t a m a p e m b e lia n .
c. K e b u tu h a n k a ry a w a n P S I u n t u k m e n ja la n k a n k e g ia t a n o p e r a s io n a l p e r u s a h a a n dapat
d iu r a ik a n s e b a g a i b e r ik u t :
1) B a g ia n A d m in is t r a s i U m u m
No K e b u tu h a n S D M J u m la h
1. C o m m is io n e r 1 o ra n g
2. P r e s id e n t D ir e c t o r 1 o ra n g
3. M a n a g in g D ir e c t o r 1 o ra n g
4. D ir e c t o r 1 o ra n g
5. O p e r a t io n a l M a n a g e r 1 o ra n g
6. O p e r a t io n a l S t a f f 5 o ra n g
7. M a r k e t in g M a n a g e r 1 o ra n g
8. M a r k e t in g S t a f f 1 o ra n g
9. F in a n c in g m a n a g e r 1 o ra n g
10. F in a n c in g s t a f f 1 o ra n g
Sumber: Manajemen PSI
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2) B a g ia n C r e w
No K e b u tu h a n S D M J u m la h
1. N akoda Kapal 6 o ra n g
2. C h ie f E n g in e e r 6 o ra n g
3. S e c o n d O f f ic e r 6 o ra n g
4. T h ir O f f ic e r 6 o ra n g
5. K e p a la K e la s i 6 o ra n g
6. K e la s i B ia s a 3 0 o ra n g
Sumber: Manajemen PSI
S e s u a i ta b e l re n c a n a k e b u tu h a n sum ber daya m a n u s ia d ia t a s , k e g ia t a n o p e r a s io n a l
m e m e r lu k a n p e r s o n il a ta u c r e w k a p a l d e n g a n t o t a l 6 0 o r a n g u n t u k m e n g o p e r a s ik a n k a p a l,
m e m b e r ik a n p e la y a n a n , d e n g a n t a n g g u n g ja w a b s p e s if ik s e s u a i d e n g a n t u g a s f u n g s i p e r
b a g ia n u n t u k m e m a s t ik a n k a p a l b e r la y a r a m a n d a n e fis ie n s e s u a i p e r a t u r a n .
U n tu k penam bahan k e g ia t a n usaha sebagai a k t if it a s p e ru s a h a a n h o ld in g , m aka t e r k a it
k e b u t u h a n t e n a g a k e r ja b e r d a s a r k a n e v a lu a s i d e n g a n m a n a je m e n F I T T d is a m p a ik a n b a h w a :
a. F IT T m e m ilik i tra c k re c o rd sebagai p e ru s a h a a n in d u k dengan k e p e m ilik a n saham
la n g s u n g p a d a B M P d a n F A W s e h in g g a F I T T d a p a t d ia n g g a p p e r u s a h a a n in v e s t a s i y a n g
b e r p e n g a la m a n .
b. P a d a p e r io d e 3 0 S e p t e m b e r 2 0 2 5 , F I T T m e m ilik i k a r y a w a n s e b a n y a k 6 2 o r a n g t e r d ir i d a r i
2 3 k a r y a w a n te t a p , 2 2 k a r y a w a n k o n t r a k s e r t a 1 7 k a r y a w a n h a r ia n b e r d a s a r k a n L a p o r a n
K e u a n g a n A u d it p e r 3 0 S e p t e m b e r 2 0 2 5 . R e n c a n a p e n a m b a h a n A k t iv it a s P e r u s a h a a n
H o ld in g t id a k m e n a m b a h s u m b e r d a y a m a n u s ia F I T T d e n g a n t e t a p m e m p e r t a h a n k a n
s e lu r u h k a r y a w a n d a n p e n g u r u s .
3 .4 .2 K e k a y a a n In te le k tu a l (Intellectual Property)
M e n u ru t U U yang te la h d is a h k a n o le h D P R -R I pada t a n g g a l 21 M a re t 1997, H a k A ta s
K ekayaaan I n t e le k t u a l a d a la h h a k -h a k s e c a ra hukum yang b e rh u b u n g a n dengan
p e r m a s a la h a n h a s il penem uan dan k r e a t iv it a s s e s e o ra n g a ta u b e b e ra p a o ra n g yang
b e rh u b u n g a n dengan p e r lin d u n g a n p e r m a s a la h a n re p u ta s i d a la m b id a n g k o m e r s ia l
(co m m e rcial reputation) d a n t in d a k a n / ja s a d a la m b id a n g k o m e r s ia l (goodw ill).
R e n c a n a p e n a m b a h a n b is n is s e b a g a i o b je k k e la y a k a n d a la m la p o r a n in i, t id a k a d a a s e t t a k
b e r w u ju d y a n g t e r lib a t d i d a la m n y a d a n d ik a t e g o r ik a n s e b a g a i K e k a y a a n I n t e le k t u a l, k a r e n a
m e r u p a k a n k e g ia t a n u s a h a p e r d a g a n g a n y a n g b e r ja la n u m u m a ta u s e s u a i d e n g a n o r d e r a n
d a r i p e la n g g a n y a n g m e m b u t u h k a n .
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3 .4 .3 M a n a je m e n R is ik o
K e g ia t a n usaha P e rs e ro a n t id a k lu p u t d a r i r is ik o a ta u k e t id a k p a s t ia n d a la m p ro s e s dan
p e la k s a n a a n o p e r a s io n a ln y a . U n s u r k e t id a k p a s t ia n t e r s e b u t d a p a t m e n ja d i s e m a k in besar
a k ib a t p e r u b a h a n ik lim b is n is y a n g s e m a k in c e p a t d a n k o m p le k s , s e h in g g a m e n ja d i r is ik o b is n is
y a n g t id a k m u n g k in d ih in d a r i, n a m u n w a jib d ik e lo la m e la lu i m e k a n is m e M a n a je m e n R is ik o .
M a n a je m e n t e la h m e n g k a ji dan m e n g e lu a r k a n k e b ija k a n u n tu k m e n g e lo la s e t ia p r is ik o
t e r s e b u t. P e r s e r o a n m e n e ra p k a n k e b ija k a n m a n a je m e n r is ik o a k a n m e n g u ra n g i p e n g a ru h
k e t id a k p a s t ia n p a s a r t e r h a d a p k in e r ja k e u a n g a n p e r u s a h a a n .
B e r ik u t a d a la h b e b e r a p a r in g k a s a n k e b ija k a n d a n p r a k t ik m a n a je m e n r is ik o u n t u k p e n a m b a h a n
k e g ia t a n u s a h a ja s a p e n g a n g k u t a n b a r a n g m e la lu i j a lu r p e la y a r a n d o m e s t ik :
a. M it ig a s i R is ik o O p e r a s io n a l
R is ik o o p e r a s io n a l s e p e r t i k e c e la k a a n ta b ra k a n , kandas, k e b a k a ra n s e rta k e ru s a k a n
m e s in akan s e c a ra s is t e m a t is d id o k u m e n a t a s ik a n o le h p e ru s a h a a n d a la m c a ta t a n
k e c e la k a a n k a p a l s e r t a a d a n y a p e r lin d u n g a n a s u r a n s i. P e r u s a h a a n ju g a b e r u p a y a u n t u k
m e la k u k a n p e m e lih a r a a n k a p a l. S e la in itu , d a la m m e n ja la n k a n k e g ia t a n u s a h a k h u s u s n y a
d ib id a n g p e la y a r a n m a k a P e rs e ro a n m e m ilik i m e k a n is m e a ta u re n c a n a d a r u ra t u n tu k
r is ik o t o p a n a ta u t y p h o o n d e n g a n t u ju a n m e m a s t ik a n k e s e la m a t a n k a p a l, k ru d a n m u a ta n
s e r t a m e m in im a lk a n g a n g g u a n o p e r a s io n a l. M a k a r a n ta i k e p u t u s a n a ta u a lu r p r o s e s u n t u k
t a n g g a p a n d a r u r a t b e r u p a t o p a n a ta u t y p h o o n s e b a g a i b e r ik u t:
1) P e n e r im a a n p e r in g a ta n :
a) M e m a n t a u s e c a r a r e a l- t im e in f o r m a s i d a r i le m b a g a m e t e o r o lo g i s e p e r t i Jo in t
T yphoon W arning C enter ( J T W C ) , B ir o M e t e o r o lo g i T io n g k o k d a n p e r in g a t a n
o t o r it a s p e la b u h a n .
b) K a p t e n k a p a l m e la p o r k a n p e r k e m b a n g a n c u a c a k e p u s a t o p e r a s i p e r u s a h a a n
s e t ia p 6 ja m .
2) P e n ila ia n r is ik o , b e r ik u t in i m e r u p a k a n s t a n d a r r e s p o n s t ig a t in g k a t y a n g d it e r a p k a n :
a) P e r in g a t a n K u n in g (p u s a t to p a n b e r ja r a k 5 0 0 m il la u t d a r i r u t e p e la y a r a n ) :
a k t if k a n r e n c a n a d a r u r a t d a n e v a lu a s i r u te a lt e r n a t if .
b) P e r in g a t a n O ra n y e (p u s a t to p a n b e r ja r a k 200 m il la u t d a r i r u te ) : h e n t ik a n
k e g ia t a n b o n g k a r / m u a t , k a p a l m e n ja u h d a r i a r e a b e r b a h a y a .
c) P e r in g a t a n M e r a h ( p u s a t t o p a n b e r ja r a k 5 0 m il la u t d a r i r u te ) : w a jib m e n g h in d a r
d a n b e r la b u h d i a r e a a m a n u n t u k s ia g a .
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3) K e p u t u s a n p e r u b a h a n ru te :
a) K a p te n kapal b e rs a m a K o m it e K eam anan P e ru s a h a a n (te rm a s u k D ir e k t u r
P e la y a r a n dan k o n s u lt a n m e t e o r o lo g i) m engadakan ra p a t d a ru ra t u n tu k
m e m a s t ik a n k e p u t u s a n p e r u b a h a n r u t e d a la m 1 5 m e n it.
b) P e la n g g a n , p e r u s a h a a n a s u r a n s i, d a n a g e n d i p e la b u h a n t u ju a n w a jib d ib e r i
in f o r m a s i s e c a r a B e r s a m a .
4) E v a lu a s i p a s c a p e n a n g a n y a it u d a la m w a k t u 2 4 ja m s e te la h t o p a n b e r la lu , w a jib
m e n y e r a h k a n “ L a p o r a n In s id e n u n t u k m e n g o p t im a lk a n p r o s e d u t t a n g g a p d a r u r a t d i
m a s a m e n d a ta n g .
b. M it ig a s i R is ik o K e u a n g a n
1) F lu k t u a s i h a r g a b a h a n b a k a r m e m ilik i p o t e n s i m e m p e n g a r u h i p e n d a p a t a n p e r u s a h a a n
d ik a r e n a k a n kom ponen b ia y a bahan bakar cukup besar d a la m o p e r a s io n a l
p e r u s a h a a n . P e r u s a h a a n M e n y u s u n d o k u m e n s t r a t e g i lin d u n g n ila i ( h e d gin g ) b a h a n
b a k a r u n t u k m e n g e lo la r is ik o f lu k t u a s i h a r g a b a h a n b a k a r d i m a s a d e p a n d ia n t a r a n y a
d a p a t d e n g a n k o n t r a k b e r ja n g k a .
c. M it ig a s i R is ik o P e r s a in g a n U s a h a :
1) M e m p e r t a h a n k a n f o k u s p a d a k u a lit a s la y a n a n y a n g d ib e r ik a n .
2) M e n g e m b a n g k a n s t r a t e g i p e n e t r a s i p a s a r y a n g e f e k t if u n t u k m e m p e r t a h a n k a n p a n g s a
p a s a r d a n m e n a r ik p e la n g g a n b a r u .
3) M e n in g k a t k a n e f is ie n s i o p e r a s io n a l u n t u k m e n ja g a t a r if y a n g k o m p e t it if .
4) M e n g e m b a n g k a n la y a n a n in o v a t if y a n g m e m b e d a k a n d a r i p e s a in g .
d. M it ig a s i R is ik o K e p a tu h a n
1) P e r u s a h a a n w a jib m e m a t u h i r e g u la s i d a n k e t e n t u a n d a r i K e m e n t e r ia n P e r h u b u n g a n
s e r t a r e g u la s i I n t e r n a t io n a l M a r it im e O r g a n iz a t io n ( I M O ) , d a n p e r a t u r a n lin g k u n g a n .
R is ik o k e t id a k p a t u h a n d a p a t b e r d a m p a k p a d a s a n k s i h u k u m d a n d e n d a .
2) H a l y a n g a k a n d ila k u k a n o le h p e r u s a h a a n u n t u k k o n t r o l e m is i d ia n t a r a n y a : ( 1 ) P a d a
e m is s io n c o n t r o l a r e a p r o s e s p e r g a n t ia n b a h a n b a k a r h a r u s < 0 , 1 % s u lf u r , t e r m a s u k
p e n g a m b ila n s a m p e l, p e n c a t a t a n , d a n p e la p o r a n ; w ila y a h la in s e p e r t i s u lp h u r e m is s io n
c o n t r o l a r e a m e m ilik i p r o s e d u r k e p a t u h a n s e r u p a , (2 ) T e k n o lo g i P e n g u r a n g a n E m is i
dengan p e r t im b a n g k a n penggunaan s c r u b b e r a ta u bahan b a k a r a lt e r n a t if , sesuai
s t r a t e g i g a s r u m a h k a c a IM O .
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3) M a n a je m e n s a m p a h d e n g a n m e n g g u n a k a n t e m p la t e M a r in e P o lu t io n M A R P O L A n n e x
V, d it a n d a t a n g a n i k a p te n , dengan r in c ia n je n is sam pah, ju m la h , dan m e to d e
p e n g o la h a n . L a tih k ru m e n g g u n a k a n p e r a la t a n p e n g e lo la a n s a m p a h d e n g a n b e n a r .
T a n g g a p T u m p a h a n T a k T e r d u g a m e n c a k u p p r o s e d u r d a r u r a t u n t u k t u m p a h a n m in y a k
a ta u s a m p a h , m e m in im a lk a n d a m p a k lin g k u n g a n .
e. M it ig a s i R is ik o P e r u b a h a n P e r m in t a a n P a s a r :
1) M e la k u k a n r is e t p a s a r d a n s u r v e i p e la n g g a n s e c a r a b e r k a la u n t u k m e m a h a m i tr e n
p a s a r d a n k e b u t u h a n p e la n g g a n .
2) M e m p e r t a h a n k a n f le k s ib ilit a s d a la m p o r t o f o lio la y a n a n a g a r c e p a t b e r a d a p t a s i d e n g a n
p e r u b a h a n t r e n p a s a r d a n p e r m in t a a n p e la n g g a n .
3) K e m b a n g k a n s t r a t e g i p e m a s a r a n y a n g e f e k t if u n t u k m e m p e r t a h a n k a n p e la n g g a n y a n g
s u d a h a d a d a n m e n a r ik p e la n g g a n b a r u .
B e r ik u t a d a la h b e b e r a p a r in g k a s a n k e b ija k a n d a n p r a k t ik m a n a je m e n r is ik o u n t u k p e n a m b a h a n
k e g ia t a n u s a h a a k t iv it a s p e r u s a h a a n h o ld in g :
a. M it ig a s i R is ik o E k o n o m i, S o s ia l P o litik :
1) P e ru s a h a a n m e la k u k a n p e m a n ta u a n te rh a d a p p e ru b a h a n k e b ija k a n p e m e r in t a h ,
k o n d is i s o s ia l, d a n in d ik a t o r e k o n o m i m a k r o y a n g b e r p o t e n s i m e m e n g a r u h i k in e r ja
in v e s t a s i. P e n g e n d a lia n r is ik o d ila k u k a n d e n g a n m e la k u k a n p e n y e s u a ia n t e r h a d a p
s t r a t e g i in v e s t a s i b e r d a s a r k a n k o n d is i e k o n o m i.
b. M e n g u r a n g i R is ik o K e t e r g a n t u n g a n p a d a K e g ia t a n U s a h a d a n P e n d a p a t a n P e r u s a h a a n
A nak:
1) M e la k u k a n d iv e r s if ik a s i e k s p o s u r r is ik o d e n g a n in v e s t a s i p a d a b e b e r a p a s e k t o r a g a r
m e m in im a lis ir r is ik o y a n g d ih a d a p i o le h s e t ia p p e r u s a h a a n a n a k .
2) P e r u s a h a a n d a p a t m e la k u k a n b e r b a g a i s t r a t e g i d a la m m e n g h a d a p i p e n u r u n a n k in e r ja
p a d a p e r u s a h a a n a n a k d e n g a n m e la k u k a n d iv e s t a s i a ta u r e s t r u k t u r is a s i u s a h a a g a r
p e n d a p a t a n p e r u s a h a a n t e t a p b a ik .
c. M it ig a s i R is ik o K e p a t u h a n d a n R e g u la s i:
1) P e r u s a h a a n m e n ja g a k e p a t u h a n r e g u la s i, m e n g ik u t i p e r k e m b a n g a n p e r a t u r a n h u k u m
d a n p e r u n d a n g - u n d a n g a n y a n g b e r la k u s e h u b u n g a n d e n g a n k e g ia t a n u s a h a
2) P e r u s a h a a n d a p a t m e la k u k a n a n a lis is d a m p a k k e b ija k a n a ta s in v e s t a s i g u n a m e n ja g a
n ila i in v e s t a s i d a la m m e n g h a d a p i k e t id a k p a s t ia n e k s t e r n a l. M e m p e r t a h a n k a n f o k u s
p a d a k u a lit a s p r o d u k d a n la y a n a n y a n g d ib e r ik a n .
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d. M it ig a s i R is ik o S u m b e r D a y a M a n u s ia :
1) M e la k u k a n b e r b a g a i p r o g r a m p e la t ih a n d a n p e n g e m b a n g a n u n t u k m a n a je m e n .
2) M e la k u k a n e v a lu a s i a ta s k in e r ja m a n a je m e n s e c a r a b e r k a la .
e. M it ig a s i R is ik o In v e s t a s i d a n P e n g e m b a n g a n U s a h a :
1) M e n e t a p k a n e v a lu a s i s e t e la h k e g ia t a n in v e s t a s i p a d a p e r u s a h a a n a n a k d ila k u k a n .
2) M e la k u k a n p r o s e s in v e s t a s i y a n a g k e t a t b e r d a s a r k a n a n a lis is y a n g k u a t d e n g a n due
diligence a ta u u ji t u n t a s y a n g m e n d a la m s e r t a s t u d i k e la y a k a n s e b e lu m m e n e n t u k a n
in v e s t a s i p a d a s u a t u p e r u s a h a a n .
3 .4 .4 K a p a s ita s d a n K e m a m p u a n M a n a je m e n
R e n c a n a p e n a m b a h a n k e g ia t a n u s a h a m e r u p a k a n r e n c a n a y a n g t e la h d ip e r t im b a n g k a n o le h
dew an k o m is a r is dan dew an d ir e k s i sebagai re n c a n a yang d iy a k in i dapat m e m b e r ik a n
k o n t r ib u s i p o s it if b a g i k in e r ja o p e r a s io n a l d a n k in e r ja k e u a n g a n P e r s e r o a n .
P S I s a a t in i b e lu m r e s m i b e r o p e r a s i s e c a r a k o m e r s ia l d a n k e t e r s e d ia a n s u m b e r d a y a m a n u s ia
h a n y a t e r d a p a t p a d a p o s is i in ti y a n g d it u g a s k a n p e m e g a n g s a h a m . T im m a n a je m e n in ti y a itu
D ir e k s i d a n K o m is a r is P S I. R e n c a n a p e r e k r u t a n k a r y a w a n a k a n d im u la i p a d a F e b r u a r i 2 0 2 6
u n t u k m e n g is i b e r b a g a i p o s is i u n t u k b a g ia n a d m in is t r a s i u m u m d a n b a g ia n c r e w .
B e b e r a p a p e r t im b a n g a n la in a d a n y a k a p a s it a s d a n k e m a m p u a n m a n ja m e n P S I d ia n t a r a n y a :
a. T e n a g a a h li u n t u k k e g ia t a n o p e r a s io n a l k a p a l a k a n d iis i o le h c r e w k a p a l b e r p e n g a la m a n
d a ri p e ru s a h a a n p e m ilik k a p a l s e b e lu m n y a . H a l te rs e b u t s e s u a i d e n g a n k e s e p a k a ta n
a n t a r a P S I d e n g a n p e m ilik k a p a l d a la m p e m b e lia n u n it k a p a l b a h w a p e m ilik k a p a l a k a n
tu ru t m e n y e rta k a n Anak Buah Kapal (A B K ) kepada PSI s e la m a 1 ta h u n p e rta m a
p e m b e lia n ;
b. Adanya p ro g ra m p e la t ih a n P e rs o n e l yang d it e r a p k a n sebagai upaya m e n in g k a t k a n
k a p a s it a s d a n k e a h lia n s e s u a i b id a n g n y a ;
c. P S I m e m ilik i m a n a je m e n r is ik o y a n g te ru k u r d e n g a n m e la k u k a n p e m e ta a n r is ik o d a n
k e n d a li a t a s s e tia p r is ik o s e r t a u p a y a d a la m m e la k u k a n e lim in a s i r is ik o ;
d. M a n a je m e n m e m ilik i b u k u m a n u a l m a n a je m e n k e s e la m a t a n k a p a l b e r d a s a r k a n k o n v e n s i
in t e r n a s io n a l b e s e r t a a m a n d e m e n t e r b a r u n y a , p e r a t u r a n k h u s u s I n d o n e s ia d a n n e g a r a
p e la b u h a n , t e r m a s u k a r a h a n d a r i o t o r it a s m a r it im s e t e m p a t s e r t a p a n d u a n p r a k tik t e r b a ik
in d u s t r i, s e p e r t i s t a n d a r t e r k a it y a n g d it e r b it k a n o le h Inte rn a tio n al C h a m b e r o f S hipping
( IC S ) d a n IM O ;
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e. M e m ilik i s t r a t e g i u n t u k p e n e n t u a n t a r if y a n g m e n y e im b a n g k a n h a rg a d e n g a n k u a lita s
la y a n a n s e s u a i p o s is i m u a ta n .
D a la m p e n a m b a h a n k e g ia t a n u s a h a a k t iv it a s p e r u s a h a a n h o ld in g , s e c a r a k e s e lu r u h a n F I T T
s a a t in i t e la h m e m ilik i M a n a je m e n dengan k a p a s it a s dan kem am puan yang te la h te r u ji.
M a n a je m e n m e m ilik i track reco rd s e b a g a i p e r u s a h a a n in d u k d e n g a n k e p e m ilik a n saham
la n g s u n g pada BM P dan FA W s e h in g g a F I T T d a p a t d ia n g g a p p e r u s a h a a n in v e s t a s i y a n g
b e r p e n g a la m a n .
3 .4 .5 K e s e s u a ia n S tr u k tu r O rg a n is a s i d a n M a n a je m e n
R e n c a n a s t r u k t u r o r g a n is a s i d a n m a n a je m e n P S I s e h u b u n g a n a d a n y a r e n c a n a p e n a m b a h a n
k e g ia t a n u s a h a s e b a g a i ja s a p e n g a n g k u t a n b a r a n g m e la lu i ja l u r p e la y a r a n d o m e s t ik m a u p u n
s e b a g a i b e r ik u t:
Sumber: Manajemen PSI
P S I t id a k m e m e r lu k a n p e r u b a h a n a ta s s t r u k t u r y a n g d im ilik i, n a m u n p e r lu p e n a m b a h a n ju m la h
p e rs o n e l y a it u pada b a g ia n b a g ia n a d m in is t r a s i um um s e p e rti O p e r a t io n a l M a n a g e r,
O p e r a t io n a l S ta ff, M a r k e t in g M a n a g e r , M a r k e t in g S t a f f , F in a n c in g m a n a g e r d a n F in a n c in g s t a f f
u n t u k m e n d u k u n g o p e r a s io n a l p e n a m b a h a n k e g ia t a n u s a h a . S e r ta p e n a m b a h a n b a g ia n c r e w
u n t u k k e g ia t a n o p e r a s io n a l m e m e r lu k a n p e r s o n il a ta u c r e w k a p a l to ta l 6 0 o r a n g d e n g a n r in c ia n
s e b a g a i b e r ik u t .
No K e b u tu h a n S D M J u m la h
1. N akoda Kapal 6 o ra n g
2. C h ie f E n g in e e r 6 o ra n g
3. S e c o n d O f f ic e r 6 o ra n g
4. T h ir O f f ic e r 6 o ra n g
5. K e p a la K e la s i 6 o ra n g
6. K e la s i B ia s a 3 0 o ra n g
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S t r u k t u r o r g a n is a s i d a n m a n a je m e n e k s is t in g F I T T s e h u b u n g a n a d a n y a r e n c a n a p e n a m b a h a n
k e g ia t a n u s a h a s e b a g a i a k t if it a s p e r u s a h a a n h o ld in g s e b a g a i b e r ik u t:
Sumber: Manajemen FITT
P e rs e ro a n t id a k m e m e r lu k a n p e ru b a h a n te rh a d a p s t r u k t u r m a n a je m e n u n tu k m endukung
o p e r a s io n a l p e n a m b a h a n k e g ia t a n u s a h a b a r u . H a l in i s e p e r t i y a n g t e la h d ija b a r k a n p a d a s u b
b a b d i a ta s t e r k a it k a p a s it a s d a n k e m a m p u a n M a n a je m e n , d i m a n a F I T T y a n g t e la h m e m ilik i 2
p e r u s a h a a n a n a k d a n b e r p e r a n s e b a g a i p e r u s a h a a n in d u k .
P e r t im b a n g a n t id a k d ip e r lu k a n n y a p e r u b a h a n s t r u k t u r o r g a n is a s i a ta s r e n c a n a p e n a m b a h a n
k e g ia t a n usaha P e rs e ro a n , a n ta ra la in penam bahan k e g ia t a n usaha a k t iv it a s p e r u s a h a a n
h o ld in g b e ru p a in v e s t a s i pada p e ru s a h a a n la in sudah d ila k u k a n o le h F IT T s e h in g g a
m a n a ja m e n s u d a h m e m ilik i k a p a s it a s d a n k e m a m p u a n d a la m m e n ja la n k a n k e g ia t a n u s a h a
b a r u t e r s e b u t . P e n a m b a h a n s e g m e n u s a h a t e r s e b u t m e m ilik i p o la y a n g s a m a d e n g a n k e g ia t a n
in v e s t a s i d i B M P d a n F A W s e h in g g a t id a k m e la k u k a n p e n y e s u a ia n a ta u p e r u b a h a n s ig n if ik a n
t e r h a d a p p o la b is n is .
3 .4 .6 R e n c a n a P e r e k r u ta n T e n a g a K e rja
R encana penam bahan k e g ia t a n usaha P e rs e ro a n seusai dengan b usiness plan akan
m e n a m b a h k a n t e n a g a k e r ja p a d a b a g ia n a d m in is t r a s i u m u m s e p e r t i O p e r a t io n a l M a n a g e r ,
Operational Staff, Marketing Manager, Marketing Staff, Financing manager dan Financing staff
s e r t a c r e w k a p a l p a d a F e b e r u a r i 2 0 2 6 u n t u k m e n d u k u n g k e g ia t a n o p e r a s io n a l p e r u s a h a a n
y a n g d ir e n c a k a n b e r o p e r a s i s e c a r a r e s m i p a d a J u n i 2 0 2 6 m e la lu i p r o s e s r e k r u t m e n . S e la in
r e k r u t m e n y a n g d ila k u k a n o le h p ih a k P S I, t e n a g a a h li u n t u k k e g ia t a n o p e r a s io n a l k a p a l a k a n
d iis i o le h c r e w k a p a l b e r p e n g a la m a n d a r i p e r u s a h a a n p e m ilik k a p a l s e b e lu m n y a . H a l t e r s e b u t
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sesuai dengan k e s e p a k a ta n a n ta ra P S I d e n g a n p e m ilik k a p a l d a la m p e m b e lia n u n it k a p a l
b a h w a p e m ilik k a p a l a k a n t u r u t m e n y e r t a k a n A n a k B u a h K a p a l ( A B K ) k e p a d a P S I s e la m a 1
t a h u n p e r t a m a p e m b e lia n .
3 .5 A s p e k K e u a n g a n P e n a m b a h a n K B L I 5 0 1 3 1 (A n g k u ta n L a u t D a la m N e g e ri
u n tu k B a ra n g U m u m ), K B L I 5 0 1 3 3 (A n g k u ta n L a u t D a la m N e g e ri u n tu k
B a r a n g K h u s u s , K B L I 5 0 1 4 1 (A n g k u ta n L a u t L u a r N e g e ri u n tu k B a ra n g
U m u m ), K B L I 5 0 1 4 2 (A n g k u ta n L a u t L u a r N e g e ri u n tu k B a ra n g K h u s u s )
A spek keuangan a d a la h s a la h s a tu aspek yang d ik a ji d a la m s t u d i k e la y a k a n . K a jia n in i
m e n g a n a lis is b e s a ra n in v e s t a s i d a n p e n d a p a ta n p e rta h u n b e ru p a re n c a n a in v e s t a s i PSI
s e h in g g a d id a p a t k a n s u a t u k e s im p u la n a p a k a h p r o y e k / r e n c a n a la y a k d ila k s a n a k a n a ta u p u n
t id a k . D a la m s t u d i k e la y a k a n in i, P e n ila i m e n g k a ji k e b u t u h a n in v e s t a s i, p r o y e k s i k e u a n g a n ,
p e n e n t u a n t in g k a t d is k o n t o (d isco u n t rate), k e la y a k a n in v e s t a s i, d a n a n a lis a s e n s it iv ita s .
3.5 .1 B ia y a In v e s ta s i A w a l
B e la n ja m odal m e ru p a k a n in v e s t a s i aw al yang d ik e lu a r k a n P e rs e ro a n t e r k a it dengan
p e n a m b a h a n k e g ia t a n u s a h a ja s a p e n g a n g k u t a n b a r a n g m e la lu i j a lu r p e la y a r a n d o m e s t ik y a n g
d ia n g g a r k a n u n tu k b ia y a p e m b e lia n 6 u n it k a p a l t o n g k a n g dan 1 u n it t u g boat sebesar
R p 2 0 0 .0 0 0 .0 0 0 .0 0 0 ,-.
INVESTASI JUMLAH HARGA (Rp)
1 K a p a l to n g k a n g K a rg o D e k (A s h e ra h 1 U n it 3 0 .0 0 0 .0 0 0 .0 0 0
1 0),d e n g a n D W T 9 6 0 0 M T, G R T 4 0 1 6 T o n
2 K A p a lto n g k a n g K a rg o D e k (A s h e ra h 1 U n it 3 1 .0 0 0 .0 0 0 .0 0 0
1 1 ),d e n g a n D W T 9 6 5 0 M T, G R T 3 8 8 9 T o n
3 K a p a l to n g k a n g K a rg o D ek (J in g x i 0 2 ),d e n g a n 1 U n it 3 0 .0 0 0 .0 0 0 .0 0 0
D W T 9 8 5 0 M T, G R T 4 0 1 6 T o n
4 K a p a l tu g b o a t (K e lly 0 3 ) 1 U n it 1 7 .0 0 0 .0 0 0 .0 0 0
5 K a p a l to n g k a n g K a rg o D e k (J in g x i 0 1 ),d e n g a n 1 U n it 3 0 .0 0 0 .0 0 0 .0 0 0
D W T 9 9 0 0 M T, G R T 4 0 1 6 T on
6 K a p a l to n g k a n g K a rg o D e k (S e g a ra 6 0 ),d e n g a n 1 U n it 3 2 .0 0 0 .0 0 0 .0 0 0
D W T 9 8 0 0 M T, G R T 3 8 8 9 T o n
7 K a p a l to n g k a n g K a rg o D e k (J in g x i 0 3 ),d e n g a n 1 U n it 3 0 .0 0 0 .0 0 0 .0 0 0
D W T 9 85 0 M T, G R T 4 0 1 6 Ton
Total Investasi 200.000.000.000
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3 .5 .2 S u m b e r P e m b ia y a a n
S u m b e r p e m b ia y a a n p e n a m b a h a n k e g ia t a n u s a h a b e r a s a l d a r i m o d a l s e n d ir i d a n p in ja m a n a n
b a n k d e n g a n to ta l R p 2 0 0 .0 0 0 .0 0 0 .0 0 0 ,-.
No. Sumber Pembiayaan Komposisi Total (Rp)
1. M o d a l S e n d iri 25% 5 0 .0 0 0 .0 0 0 .0 0 0
2. P in ja m a n B a n k 75% 1 5 0 .0 0 0 .0 0 0 .0 0 0
3 .5 .3 A n a lis is P ro y e k s i K e u a n g a n d a n A s u m s i
K a jia n aspek keuangan m e n g a n a lis is b e s a r a n in v e s t a s i d a n a r u s k a s b e r s ih p e rta h u n n y a
s e h in g g a d id a p a t k a n s u a t u k e s im p u la n a p a k a h s u a t u p r o y e k / r e n c a n a k e g ia t a n u s a h a b a r u
la y a k d ila k s a n a k a n a t a u p u n t id a k . A s u m s i d a n p r o s p e k t if k e u a n g a n y a n g t e r b e n t u k m e r u p a k a n
p r o y e k s i k e u a n g a n y a n g te la h m e n d a s a r k a n a s u m s i m e la lu i p e n y e s u a ia n v a r ia b e l m a k r o d a n
v a r ia b e l u m u m la in n y a s e s u a i k e g ia t a n u s a h a y a n g m e n ja d i o b je k k a jia n k e la y a k a n , k o n d is i
dan in f o r m a s i t e r k in i o p e r a s io n a l P e rs e ro a n , k a jia n in d u s t r i d a n t a r g e t p e n c a p a ia n o le h
m a n a je m e n P e r s e r o a n s e s u a i h a s il d is k u s i d a n k o m u n ik a s i o le h m a n a je m e n P e r s e r o a n t e r k a it
kem am puan p e n c a p a ia n n y a dan d is e t u ju i o le h m a n a je m e n P e rs e ro a n dan a ta u P e m b e ri
Tugas.
a. A sum si Um um
B e r ik u t in i a d a la h asum si keuangan yang d ig u n a k a n u n t u k p r o s p e k t if p r o y e k s i k e u a n g a n
p r o y e k a ta u r e n c a n a p e n a m b a h a n k e g ia t a n u s a h a ja s a p e n g a n g k u t a n b a r a n g m e la lu i ja lu r
p e la y a r a n d o m e s t ik y a n g a k a n d ija la n k a n P e r s e r o a n d a la m b e n t u k L a p o r a n P o s is i K e u a n g a n ,
L a p o ra n Laba R u g i K o m p r e h e n s if d a n L a p o r a n A r u s K a s P e r s e r o a n , u n t u k ja n g k a w a k t u
p e r io d e O k t o b e r 2 0 2 5 - 2 0 3 0 .
A sum si um um a d a la h a s u m s i y a n g b e r s u m b e r d a r i d a t a p a s a r y a n g d iy a k in i v a lid s e b a g a i
s t a n d a r d a s a r p e n y e s u a ia n d a la m r e v ie w p r o y e k s i k e u a n g a n u n t u k d it e r a p k a n s e la m a p e r io d e
p r o y e k s i, s e b a g a im a n a a n t a r a la in a d a la h s e b a g a i b e r ik u t :
1) T in g k a t I n fla s i : 3 ,0 0 % , R a t a - r a t a in f la s i D K I J a k a r t a 3 t a h u n t e r a k h ir
2) P e rtu m b u h a n E k o n o m i : 3 ,3 0 % R a t a - r a t a p e r t u m b u h a n e k o n o m i 5 t a h u n t e r a k h ir
3) P a ja k B a d a n P e r u s a h a a n : 22%
4) P e rtu m b u h a n U M P : 5% R a ta -ra ta p e rtu m b u h a n UMP DKI J a k a rta 3 ta h u n
t e r a k h ir
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b. A s u m s i P r o y e k s i L a p o r a n P o s is i K e u a n g a n
B e r ik u t a d a la h a s u m s i y a n g d ig u n a k a n u n t u k p e n y u s u n a n p r o y e k s i L a p o r a n P o s is i K e u a n g a n
a ta s p r o y e k a ta u r e n c a n a p e n a m b a h a n k e g ia t a n u s a h a ja s a p e n g a n g k u t a n b a r a n g m e la lu i ja lu r
p e la y a r a n d o m e s t ik y a n g a k a n d ija la n k a n P e r s e r o a n u n t u k p e r io d e O k t o b e r 2 0 2 5 - 2 0 3 0 :
1) B e la n ja m o d a l m e ru p a k a n in v e s t a s i a w a l y a n g d ik e lu a r k a n P e r s e r o a n t e r k a it d e n g a n
p e n a m b a h a n k e g ia t a n u s a h a ja s a p e n g a n g k u t a n b a r a n g m e la lu i ja l u r p e la y a r a n d o m e s t ik
y a n g d ia n g g a r k a n u n t u k b ia y a p e m b e lia n 6 u n it k a p a l t o n g k a n g d a n 1 u n it t u g b o a t a g a r
dapat d ig u n a k a n sebagai o p e r a s io n a l P e rs e ro a n . B e la n ja m odal yang d ila k u k a n
m e m p e r t im b a n g k a n k a p a s it a s d a n kem am puan yang t e la h d ik o n f ir m a s i d a n d it e r im a
s e b a g a i a s u m s i y a n g w a ja r b a g i P e r s e r o a n ;
2) S u m b e r p e n d a n a a n y a n g d ig u n a k a n u n t u k m o d a l k e r ja d a n b e la n ja m o d a l m e n g g u n a k a n
f a s ilit a s u ta n g Lem baga Keuangan Bank dengan t in g k a t bunga sebesar 8 ,6 7 % .
Penggunaan f a s ilit a s u ta n g bank d is e s u a ik a n dengan k e b u tu h a n pendanaan dan
k e t e r s e d ia a n k a s y a n g d ig u n a k a n u n t u k m o d a l k e r ja o p e r a s io n a l P e r s e r o a n ;
3) D e p r e s ia s i a ta u p e n y u s u t a n m enggunakan m e t o d e g a r is lu r u s u n t u k k a p a l a d a la h 16
ta h u n . Jangka w a k tu d e p r e s ia s i a ta u p e n y u s u ta n d it e r a p k a n b e rd a s a rk a n P e ra tu ra n
M e n te r i K e u a n g a n R e p u b lik I n d o n e s ia N o . 7 2 T a h u n 2 0 2 3 t e n t a n g P e n y u s u ta n H a rta
B e r w u ju d d a n / a t a u A m o r t is a s i H a r t a T a k B e r w u ju d .
4) P e r p u t a r a n m o d a l k e r ja u n t u k p iu t a n g u s a h a a d a la h s e la m a 6 0 h a r i d a n p e r p u t a r a n u n t u k
u ta n g u s a h a a d a la h 3 0 h a r i, d e n g a n m e m p e r t im b a n g k a n k e p a d a p e r p u t a r a n m o d a l k e r ja
u n t u k p e r u s a h a a n s e je n is y a n g b e r la k u s e c a r a u m u m .
P r o y e k s i L a p o r a n P o s is i K e u a n g a n
B e rd a s a rk a n asum si yang m e n d a s a ri penyusunan a ta s review p ro y e k s i L a p o ra n P o s is i
K e u a n g a n , p r o s p e k t if L a p o r a n P o s is i K e u a n g a n p e r io d e O k t o b e r 2 0 2 5 - 2 0 3 0 a d a la h s e b a g a i
b e r ik u t :
PT H otel Fitra In ternation al T b k
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1 •
KJPP Edi A n d e s t a dan Rekan
(d a la m R u p ia h )
2025 2026 2027 2028 2029 2030
1 O k t - 31 D es 1 J a n - 31 D e s 1 J a n - 31 D e s 1 J a n - 31 D e s 1 J a n - 31 D e s 1 J a n - 31 D e s
A set
A set Lancar
Kas dan Setara Kas 50.014.380.981 4.167.515.848 33.104.544.735 41.052.559.956 49.236.972.659 57.649.240.710
Piutang Usaha - 11.928.928.177 10.844.975.342 10.815.344.262 10.844.975.342 10.844.975.342
Pajak Dibayar
Dimuka 53.625 53.625 53.625 53.625 53.625 53.625
J u m la h A s e t L a n c a r 5 0 .0 1 4 .4 3 4 .6 0 6 1 6 .0 9 6 .4 9 7 .6 5 0 4 3 .9 4 9 .5 7 3 .7 0 2 5 1 .8 6 7 .9 5 7 .8 4 3 6 0 .0 8 2 .0 0 1 .6 2 6 6 8 .4 9 4 .2 6 9 .6 7 8
A s e t T id a k L a n c a r
Aset Tetap 193.750.000.000 181.250.000.000 168.750.000.000 156.250.000.000 143.750.000.000
J u m la h A s e t T id a k
Lancar - 1 9 3 .7 5 0 .0 0 0 .0 0 0 1 8 1 .2 5 0 .0 0 0 .0 0 0 1 6 8 .7 5 0 .0 0 0 .0 0 0 1 5 6 .2 5 0 .0 0 0 .0 0 0 1 4 3 .7 5 0 .0 0 0 .0 0 0
JUM LAH ASET 5 0 .0 1 4 .4 3 4 .6 0 6 2 0 9 .8 4 6 .4 9 7 .6 5 0 2 2 5 .1 9 9 .5 7 3 .7 0 2 2 2 0 .6 1 7 .9 5 7 .8 4 3 2 1 6 .3 3 2 .0 0 1 .6 2 6 2 1 2 .2 4 4 .2 6 9 .6 7 8
L ia b ilita s d a n E k u ita s
L ia b ilita s
L ia b ilit a s J a n g k a
Pendek
Utang Usaha - 9.212.910.497 7.359.892.603 7.448.896.721 7.581.690.904 7.697.380.438
Utang lainnya 32.038.975 32.038.975 32.038.975 32.038.975 32.038.975 32.038.975
Utang Pajak 9.750 9.750 9.750 9.750 9.750 9.750
Uang Muka
Operasional 10.000.000 10.000.000 10.000.000 10.000.000 10.000.000 10.000.000
Bagian Yang jatuh
tempo dalam 1 Tahun :
Pinjaman Bank - - 21.428.571.429 21.428.571.429 21.428.571.429 21.428.571.429
J u m la h L ia b ilita s
Jangka Pendek 4 2 .0 4 8 .7 2 5 9 .2 5 4 .9 5 9 .2 2 2 2 8 .8 3 0 .5 1 2 .7 5 6 2 8 .9 1 9 .5 1 6 .8 7 5 2 9 .0 5 2 .3 1 1 .0 5 8 2 9 .1 6 8 .0 0 0 .5 9 2
L ia b ilita s J a n g k a
P a n ja n g
Pinjaman Bank - 150.000.000.000 128.571.428.571 107.142.857.143 85.714.285.714 64.285.714.286
J u m la h L ia b ilita s
J a n g k a P a n ja n g - 1 5 0 .0 0 0 .0 0 0 .0 0 0 1 2 8 .5 7 1 .4 2 8 .5 7 1 1 0 7 .1 4 2 .8 5 7 .1 4 3 8 5 .7 1 4 .2 8 5 .7 1 4 6 4 .2 8 5 .7 1 4 .2 8 6
J U M L A H L IA B IL IT A S 4 2 .0 4 8 .7 2 5 1 5 9 .2 5 4 .9 5 9 .2 2 2 1 5 7 .4 0 1 .9 4 1 .3 2 8 1 3 6 .0 6 2 .3 7 4 .0 1 8 1 1 4 .7 6 6 .5 9 6 .7 7 2 9 3 .4 5 3 .7 1 4 .8 7 8
E k u ita s
Modal Saham 50.000.000.000 50.000.000.000 50.000.000.000 50.000.000.000 50.000.000.000 50.000.000.000
Laba (Rugi) Ditahan (22.614.119) (27.614.119) 591.538.428 17.797.632.374 34.555.583.826 51.565.404.854
Laba (Rugi) Tahun
Berjalan (5.000.000) 619.152.547 17.206.093.947 16.757.951.451 17.009.821.029 17.225.149.946
J U M L A H E K U IT A S 4 9 .9 7 2 .3 8 5 .8 8 1 5 0 .5 9 1 .5 3 8 .4 2 8 6 7 .7 9 7 .6 3 2 .3 7 4 8 4 .5 5 5 .5 8 3 .8 2 6 1 0 1 .5 6 5 .4 0 4 .8 5 4 1 1 8 .7 9 0 .5 5 4 .8 0 0
J U M L A H L IA B IL IT A S &
E K U IT A S 5 0 .0 1 4 .4 3 4 .6 0 6 2 0 9 .8 4 6 .4 9 7 .6 5 0 2 2 5 .1 9 9 .5 7 3 .7 0 2 2 2 0 .6 1 7 .9 5 7 .8 4 3 2 1 6 .3 3 2 .0 0 1 .6 2 6 2 1 2 .2 4 4 .2 6 9 .6 7 8
c. A s u m s i L a p o ra n L a b a R u g i K o m p r e h e n s if
B e r ik u t a d a la h asum si yang d ig u n a k a n u n tu k penyusunan p ro y e k s i L a p o ra n Laba R ugi
K o m p r e h e n s if a ta s p r o y e k a ta u re n c a n a p e n a m b a h a n k e g ia t a n u s a h a ja s a p e n g a n g k u ta n
b a ra n g m e la lu i j a lu r p e la y a r a n d o m e s t ik yang akan d ija la n k a n P e rs e ro a n u n tu k p e r io d e
O k to b e r 2 0 2 5 - 2 0 3 0 :
P T H o te l F itr a In te r n a tio n a l T b k
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1) P e n d a p a ta n pada p ro y e k s i keuangan d id a s a r k a n pada asum si p e n d a p a ta n yang
d id a p a t k a n o le h k a p a l o p e r a s io n a l y a n g m e la k u k a n t r ip u n t u k r u t e 1 d a n 2 d i w ila y a h
S u la w e s i;
2) O p e r a s io n a l p e n d a p a t a n d ia s u m s ik a n m u la i d ip e r o le h d i ta h u n 2 0 2 6 s e te la h p e n a m b a h a n
k e g ia t a n u s a h a b a r u a ta u K B L I b a r u P e r s e r o a n s e le s a i d ila k u k a n ;
3) A s u m s i ju m la h t r ip d a la m 1 b u la n d ih it u n g d e n g a n e s t im a s i ja r a k te m p u h p e r t r ip p u la n g
p e r g i, k e c e p a ta n k a p a l p e r t r ip , s e r t a e s t im a s i w a k t u b o n g k a r m u a ta n s e h in g g a d a p a t
d it a r ik k e s im p u la n ju m la h t r ip p e r b u la n y a it u 3 k a li t r ip . P e n d a p a t a n p e r k a p a l s e t ia p b u la n
d e n g a n a s u m s i ju m la h t r ip k a p a l p e r b u la n s e b a n y a k 3 k a li t r ip , r a t a - r a t a ju m la h a n g k u ta n
s e b e s a r 9 .8 0 0 M T , d a n b ia y a a n g k u t s e b e s a r R p . 6 8 . 0 0 0 , - . s e h in g g a d a p a t d ik e t a h u i
ju m la h p e n d a p a t a n p e r b u la n . K e m u d ia n u n t u k m e n e n t u k a n t o t a l p e n d a p a t a n p e r ta h u n
t e r d a p a t a s u m s i y a it u ju m la h k a p a l y a n g o p e r a s io n a l s e t ia p t a h u n s e b a n y a k 3 u n it, ju m la h
b u la n e f e k t if o p e r a s io n a l y a itu 8 b u la n u n t u k p r o y e k s i t a h u n 2 0 2 6 , d a n 11 b u la n u n t u k
p e r io d e p r o y e k s i 2 0 2 7 - 2 0 3 0 . A n g k a b u la n e f e k t if o p e r a s io n a l s u d a h d ik u r a n g i d e n g a n
w a k t u p e r b a ik a n k a p a l ( d o c k in g r in g a n ) y a it u 1 b u la n p e r t a h u n .
4) H a r g a p o k o k p e n d a p a t a n m e r u p a k a n b ia y a la n g s u n g y a n g t e r d ir i d a r i:
a) B ia y a b a h a n b a k a r k a p a l b e r u p a b io d ie s e l d e n g a n r a t a - r a t a k o n s u m s i b a h a n b a k a r
per h a r i/ k a p a l sebanyak 4 .0 0 0 lit e r / h a r i/ k a p a l. T o ta l b ia y a bahan bakar kapal
m e n g a la m i p e n in g k a t a n b e r d a s a r k a n r a t a - r a t a in fla s i 3 % s e t ia p ta h u n n y a ;
b) B ia y a s e w a 5 t u g b o a t y a itu R p 4 0 0 ju t a p e r u n it b e r d a s a r k a n in f o r m a s i m a n a je m e n
d e n g a n p e m ilik k a p a l s e w a ;
c) B ia y a p e la b u h a n d ia s u m s ik a n 1 0 % d a r i t o t a l p e n d a p a t a n s e t ia p p e r io d e p r o y e k s i;
d) B ia y a t id a k la n g s u n g b e r u p a g a ji A B K a ta u c r e w k a p a l y a n g t e r d ir i d a r i n a h k o d a
k a p a l, c h ie f e n g in e e r , s e c o n d o f f ic e r , t h ir o f f ic e r , k e p a la k e la s i d a n k e la s i b ia s a ,
d im a n a t o t a l b e b a n g a ji t e r s e b u t m e n g a la m i k e n a ik a n s e b e s a r 5 % b e r d a s a r k a n r a ta -
r a t a k e n a ik a n U M R s e t ia p ta h u n n y a ;
e) B ia y a t id a k la n g s u n g la in n y a itu b ia y a p e m e lih a r a a n & p e r b a ik a n s e b e s a r 1 0 % d a r i
t o t a l n ila i k a p a l;
f) B ia y a t id a k la n g s u n g s e p e r t i b ia y a ja s a m a n a je m e n t e r k a it p e la t ih a n s e r t a b ia y a s e w a
k a n t o r k a r y a w a n d a n m e s s s e b e s a r R p 1 0 0 ju t a p e r t a h u n ;
g) B ia y a P e n y u s u t a n s e b a g a im a n a p e n je la s a n p a d a p o in (2 ) A s u m s i P r o y e k s i L a p o r a n
P o s is i K e u a n g a n .
PT Hotel Fitra In ternation al T b k
Studi Kelayakan Bisnis Terkai Penambahan KBLI 81
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5) B e b a n u s a h a m e r u p a k a n b e b a n y a n g d ik e lu a r k a n u n t u k d a p a t m e n ja la n k a n o p e r a s io n a l
t e r k a it dengan k e g ia t a n usaha ja s a p e n g a n g k u ta n b a ra n g m e la lu i j a lu r p e la y a r a n
d o m e s t ik y a n g t e r d ir i d a r i:
a) B e b a n g a ji a d m in is t r a s i d a n u m u m u n t u k C om m isioner, P resident Director, M anaging
D irector, Director, O perational M anager, O perational Staff, M arketing M anager,
M arketing Staff, F inancing m a n a g e r d a n F inancing s ta ff d im a n a t o t a l b e b a n g a ji
t e r s e b u t m e n g a la m i k e n a ik a n sebesar 5% b e rd a s a rk a n ra ta -ra ta k e n a ik a n UMR
s e t ia p t a h u n n y a ;
b) B e b a n t u n ja n g a n k a r y a w a n s e b e s a r 1 0 % d a r i n ila i g a ji;
c) B e b a n a s u r a n s i ( H u ll a n d M a c h in e r i P r e m iu m ) s e b e s a r 0 , 7 5 % d a r i n ila i k a p a l;
d) Beban s e w a k a n t o r s e b e s a r R p 5 ju t a p e r b u la n y a n g d ig u n a k a n u n t u k k e g ia t a n
k a r y a w a n d i d a r a t d e n g a n d e n g a n k e n a ik a n in f la s i s e t ia p t a h u n n y a ;
e) B e b a n v a r ia b le d e n g a n to ta l s e b e s a r 0 ,0 5 % d a r i t o t a l p e n d a p a t a n s e t ia p p e r io d e
p ro y e k s i y a n g t e r d ir i d a r i b e b a n p e m e lih a r a a n k a n to r d a n ru m a h ta n g g a k a n to r ,
0 ,2 5 % d a ri to ta l p e n d a p a ta n s e t ia p p e r io d e p ro y e k s i yang t e r d ir i d a ri beban
p e r ja la n a n d in a s s e r t a 1 % d a r i t o t a l p e n d a p a t a n s e t ia p p e r io d e p r o y e k s i y a n g te r d ir i
d a r i b e b a n la in - la in .
P ro y e k s i L a p o ra n L a b a R u g i K o m p r e h e n s if
B e r d a s a r k a n a s u m s i y a n g m e n d a s a r i p e n y u s u n a n a ta s r e v ie w p r o y e k s i L a p o r a n L a b a R u g i
K o m p r e h e n s if , p r o s p e k t if L a p o r a n L a b a R u g i K o m p r e h e n s if p e r io d e O k t o b e r 2 0 2 5 - 2030
a d a la h s e b a g a i b e r ik u t :
P T H o te l F itr a In te r n a tio n a l T b k
Studi Kelayakan Bisnis Terkai Penambahan KBU 82
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/ N T / F C A R P R A I S A
1 •
KJPP Edi A n d e s t a dan Rekan
(dalam Rupiah)
L a p o ra n U b a R ugi 2025 202( 2027 202* 2020 2030
1 0 k t • 31 D e s 1 J a n -3 1 Des 1 J a n -3 1 D a s 1 J a n -3 1 Des 1 J a n -3 1 D e s 1 J a n -3 1 D e s
F o re c a s t
Pendapatan Usaha - 71 971200.000 131 94 7 2 0 0 000 131 947 2 0 0 000 131.947200 000 131 9 4 7 2 0 0 000
Beban Langsung (55 584 500.000) |89 545 360 000) (90 876 5 40 0 0 0 ) 192243.906.000) (93.651 462 000)
L a b a K o to r . 1 * 3 * * * 4 0 .0 0 0 4 2 .4 0 1 * 4 0 0 0 0 41 0 7 0 * * 0 0 0 0 3 9 .7 0 3 2 9 4 .0 0 0 3 (2 9 5 7 3 (0 0 0
B eb an U saha
Beban Umum dan Administrasi (5 0 0 0 0 0 0 1 (4 976 205.600) (5.531 34 3 600) (5 691 5976001 (585 9 .6 0 7 600) (6 034 274 600l
Pajak Penghasitan Final (86 3 654.400) (1.583 366 400) (1 583 366 4001 (1.583.366 400) (1 583 366 400i
J u m la h B e b a n U s a h a (5 0 0 0 0 0 0 1 ( 5 .(3 9 .1 * 0 .0 0 0 ) (7 .1 1 4 .7 1 0 0 0 0 ) (7 2 7 4 9 *4 000) ( 7 .4 4 2 . 9 7 4 .0 0 0 ) ( 7 .(1 7 (4 1 .0 0 0 )
L a b a (R u g i) U s a h a (5 0 0 0 000) 1 0 .5 4 ( 7 (0 .0 0 0 3 5 2 (7 .1 3 0 0 0 0 33 7 9 5 * 0 * 0 0 0 3 2 2 (0 .3 2 0 0 0 0 3 0 .(7 (0 0 7 000
P e n g h a s ita n ( B e b a n ) L a in -la in
Laba (Rugi) selisih kurs- neto -
Beban Keuangan (9 756.000.000) (13 008 000 000) (12 311 142 857) (10.452.857 143) (8 594 571 429)
P e n g h a s ita n |B e b a n ) L a in -la in • B e r s ih ( 0 .7 5 * 0 0 0 .0 0 0 ) (1 3 .0 0 1 .0 0 0 0 0 0 ) (1 2 3 1 1 1 4 2 8 5 7 ) (1 0 .4 5 2 .(5 7 .1 4 3 ) ( 8 .5 9 4 5 7 1 4 2 0 )
L a b a (R u g i) S e b e lu m P a ja k (5 0 0 0 000) 7 9 0 .7 * 0 .0 0 0 2 2 2 7 0 .1 3 0 0 0 0 21 4 8 4 5 5 3 1 4 3 2 1 .1 0 7 .4 ( 2 .( 5 7 2 20 *3 5 2 5 5 7 1
M a n f a a t ( B e b a n ) P a ja k P e n g h a s i a n
Paiak Kim (171 627.453) (5.073.036 053) (4 726 601 6911 (4 797.641 829) (4 858 375 626!
L a b a (R u g i) B e r s ih T a h u n B e r ja la n ( 5 .0 0 0 0 0 0 ) (1 0 .1 5 2 .5 4 7 1 7 2 0 (0 0 3 0 4 7 1 6 7 5 7 0 5 1 .4 5 1 1 7 .0 0 9 .1 2 1 . 0 2 9 1722514004*
P ro y e k s i L a p o ra n A ru s K as
D e n g a n h a s il p r o y e k s i L a p o r a n P o s is i K e u a n g a n d a n L a p o r a n L a b a R u g i K o m p r e h e n s if , m a k a
d ip e r o le h g a m b a r a n p r o y e k s i L a p o r a n A r u s K a s p e r io d e O k t o b e r 2 0 2 5 - 2 0 3 0 s e b a g a i b e r ik u t :
(dalam Rupiah)
L a p o n n A ru s K a s 202$ 202* 2027 2028 2020 2030
1 0 k t - 31 D e s 1 Jm - 310m 1 J e n -3 1 O es 1 J e n -3 1 D es 1 J e n - 3 1 D es 1 J e n - 3 1 O es
F o re c e s t
A n n K a s d a ri A k tiv ita s O p e ra s i
Laba (Rugi| Bersih Tahun Berjalan (5 000 000) 619.152 547 17 206 093 947 16 757 951 451 17.009.821 029 17 225 149 946
Penarrbahan Beban hkm Keuangan.
Benyusutan dan Amsrtsas 6 250.000 000 12 500 000 000 12 500 000 000 12.500.000 000 12 500 000 000
Perubahan Modal Kerja:
Buiang Usaha (11,928.928 177) 1 083 952 834 29 631 080 (29.631 080)
Mulang Usaha 9212.910497 (1.853 017 894) 89 004 119 132.794 183 115 689 534
Total Perubahan Modal Kerja 12,71*017 680) (769065 060) 118 635 199 103.163 103 115 689 534
J u m la h A ru s K a s D a ri A k tiv ita s O p e ra s i ( 5 0 0 0 .0 0 0 ) 4 .1 5 3 .1 3 4 8 * 7 2 1 .9 3 7 0 2 K S * 2 9 3 7 (5 1 **5 0 2 9 .(1 2 .9 1 4 1 3 1 2 9 *4 0 1 3 0 4 *0
A rus K a s D ari A k tiv ita s In v e s ta s i
Pembelian Asel Tetap
J u m la h A ru s K a s D art A k tiv ita s In v e s ta s i -
(200.000.000.000)
(2 0 0 .0 0 0 .0 0 0 .0 0 0 ) . - - -
A ru s K as D a n A k tiv ita s P e n d a n a a n
Benenmaan Dana Seloran Modal 50 000 000000
Penenmaan Dana Pmjaman Kredit Investasi 150.000.000 000
Benenmaan Dana Pmjaman Kepada Pemegang Saha T1
Pembayaran Pokok Pmjaman Kredit Investasi
Pembayaran Pokok Pmiaman Kepada Pemegang Saham - -
-
(21 428 571429)
-
121.428.571 429) (21.428 571 429)
J u m la h A n n K a s D a ri A k tiv ita s P e n d a n a a n 5 0 0 0 0 .0 0 0 0 0 0 1 5 0 .0 0 0 .0 0 0 .0 0 0 (21 4 2 8 571 4 2 9 ) ( 2 1 . 4 2 1 .5 7 1 4 2 9 ) ( 2 1 .4 2 1 .5 7 1 .4 2 0 )
K e n a fta n (P e n u ru n a n ) K a s d a n S e ta ra K as 4 9 9 9 5 .0 0 0 0 0 0 1 4 5 * 4 (1 * 5 .1 3 3 ) 21037 0 2 0 (1 * 7 9 4 *0 1 5 2 2 2 1 .1 1 4 .4 1 2 .7 0 3 1 4 1 2 2 (1 0 5 1
Kasdan Seta's KasAwa: Periode 19 380 981 50.014 380 981 4 167 515 848 33 104 544735 41.052.559 956 49.236 972 659
K a s d a n S e ta ra K a s A k h ir P eriode 5 0 0 1 4 3 *0 9 *1 4 .1 ( 7 .5 1 5 .8 4 1 3 3 .1 0 4 5 4 4 7 3 5 41 0 5 2 5 5 9 .0 5 6 4 9 2 3 (9 7 2 .(5 1 5 7 *4 1 2 4 0 7 1 0
P T H o te l F itr a In te r n a tio n a l T b k
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KJPP Edi A n d e s t a dan Rekan
A I S A L
O
T in g k a t D is k o n to
T in g k a t d is k o n t o m e ru p a k a n t in g k a t p e n g e m b a lia n yang d ih a r a p k a n yang r e le v a n yang
d ig u n a k a n u n tu k m e n g h it u n g n ila i s e k a ra n g d a ri a lir a n kas di m asa depan. P e n ila i
m e m p e r t im b a n g k a n p e n e n t u a n t in g k a t d is k o n t o b e r d a s a r k a n f a k t o r - f a k t o r s e p e r t i in d u s t r y b is n is ,
r is ik o e k o n o m i d a n p o litik d i I n d o n e s ia (country risk) u n t u k m e n c a p a i a r u s k a s p r o y e k s i. D a la m
m e n e n tu k a n disco u nt fa c to r ( D F ) d ip e r h it u n g k a n s e b e s a r 9 ,7 9 % , d im a n a a n g k a in i m e r u p a k a n
t in g k a t d is k o n t o W A C C (W eighted A verage C ost o f Capital) d e n g a n k o m p o s is i in d u s t r i a n t a r a
t in g k a t d is k o n t o e k u it a s d e n g a n t in g k a t b u n g a p in ja m a n s e te la h p a ja k .
W ACC
C o s t o f E q u ity
Risk free rate 6,88%
Market risk premium 7,03%
Levered Beta 0,86
Specific Risk 0,00%
(-) Default Spread 1,87%
C o s t o f E q u ity 1 1 ,0 6 %
C o s t o f D ebt
Investment Credit 8,67%
Tax 22,00%
C o st o f D ebt 6 ,7 6 %
C a p ita l S tru c tu re
Debt to Total capitalization 29,43%
Equity to Total capitalization 70,57%
W ACC 9 ,7 9 %
K e t e r a n q a n ( s u m b e r d ip e r o le h s e s u a i d e n g a n T a n g g a l P e n ila ia n ) :
a. T in g k a t B e b a s R is ik o ( R f) m e n g g u n a k a n Indonesia G overm ent S ecurities Yield C urve p e r
t a n g g a l p is a h b a t a s (cu t o ff date).
b. B eta (P ) m e r u p a k a n ra ta -ra ta B eta p e r u s a h a a n p e m b a n d in g pada in d u s t r i s e je n is d a n
b e r s u m b e r d a r i dam odaran s e s u a i t a n g g a l p is a h b a t a s ( cu t o ff date).
c. R isk P rem ium ( R p m ) b e r s u m b e r d a r i dam odaran u n t u k n e g a r a In d o n e s ia s e s u a i t a n g g a l
p is a h b a t a s ( cu t o ff date).
d. C ost o f de b t b e r s u m b e r d a r i t in g k a t b u n g a b a n k P e r s e r o p e r 3 0 S e p t e m b e r 2 0 2 5 d a n
d ik u r a n g k a n o le h p a ja k b a d a n P e r s e r o a n s e b e s a r 2 2 % .
PT H otel Fitra In ternation al T b k
Studi Kelayakan Bisnis Terkai Penambahan KBLI 84
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T H E S C I E N T I F I C A P P R A I S A L
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3 .5 .4 A n a lis is T itik Im p a s (Break Even Point Analysis)
T it ik im p a s a ta u b re a k even p o in t ( B E P ) a d a la h k e a d a a n s u a t u u s a h a y a n g t id a k m e m p e r o le h
la b a d a n t id a k m e n d e r it a ru g i a ta u d e n g a n k a ta la in s u a t u u s a h a d ik a t a k a n im p a s jik a ju m la h
p e n d a p a t a n ( revenue ) s a m a d e n g a n ju m la h b ia y a , a ta u a p a b ila la b a k o n t r ib u s i h a n y a d a p a t
d ig u n a k a n u n t u k m e n u t u p b ia y a t e t a p s a ja . B E P d a p a t d if o r m u la s ik a n s e b a g a i b e r ik u t:
T o ta l Biaya T e ta p
BFP = ------------------------ ------------ ----------
_ T o ta l Biaya V a ria b e l
^ ^ P en ju alan ''
N ila i B E P m e n c e r m in k a n p e n d a p a t a n m in im a l y a n g d ip e r lu k a n a g a r t e r ja d i B E P P e r h it u n g a n
B E P p a d a p r o y e k s i a ta s a d a la h s e b a g a i b e r ik u t :
A n a lis is b re a k even p o in t
2025
2026 2027 2028 2029 2030
K e te ra n g a n O k t-D e s
1 2 3 4 5 6
BEP N/A 55.134.872.108 77.180.243.687 79.041.826.569 80.994.799.054 83.045.435.402
BEP Rp
Rata-rata 76,61% 58,49% 59,90% 61,38% 62,94%
B E P ja s a p e n g a n g k u t a n b a r a n g m e la lu i ja lu r p e la y a r a n d o m e s t ik s e la m a p e r io d e p r o y e k s i a k a n
d ic a p a i r a t a - r a t a p a d a p e n d a p a t a n s e b e s a r R p 8 4 , 4 2 m ilia r , a ta u r a t a - r a t a s e b e s a r 6 8 , 5 5 % d a r i
p e n d a p a t a n d ilu a r p e r h it u n g a n p a ja k , b u n g a d a n d e p r e s ia s i.
3 .5 .5 A n a lis is P r o fita b ilita s (Overall Profitability)
A n a lis is p r o f it a b ilit a s a ta s p e n a m b a h a n k e g ia t a n u s a h a p e n u n ja n g d it a m p ilk a n p a d a ta b e l
b e r ik u t in i:
A n a lis is p r o f it a b ilit ia s in i b e r t u ju a n u n tu k kem am puan yang d im ilik i P e ru s a h a a n u n tu k
m e n g h a s ilk a n s e b u a h la b a .
B e rd a s a rk a n p ro y e k s i k e u a n g a n penam bahan k e g ia t a n u s a h a ja s a p e n g a n g k u ta n b a ra n g
m e la lu i ja lu r p e la y a r a n d o m e s t ik , s e la m a p e r io d e p r o y e k s i r a t a - r a t a m a r g in la b a b e r s ih p e r io d e
b e r ja la n a d a la h s e b e s a r 6 ,8 5 % . S e d a n g k a n r a t a - r a t a p e n g e m b a lia n a s e t ( R O A ) d a r i r e n c a n a
p e n a m b a h a n k e g ia t a n u s a h a b a r u y a n g d ila k u k a n o le h P e r s e r o a n a d a la h s e b e s a r 4 ,2 1 % .
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3 .5 .6 T in g k a t Im b a l B a lik In v e s ta s i (Overall Return On Invesment)
D e n g a n R O I, P e r s e r o a n d a p a t m e n g e t a h u i s e b e r a p a e fis ie n p e r u s a h a a n g u n a m e m a n f a a t k a n
a k tiv a u n tu k k e g ia t a n o p e r a s io n a l dan dapat m e m b e r ik a n in f o r m a s i u k u ra n p r o f it a b ilit a s
P e r s e r o a n . F o r m u la d a la m p e r h it u n g a n R O I a d a la h :
N e t R e tu rn on In v e s tm e n t
ROI = ----------------- —------------------------x 1 0 0 %
Cost or In v e s m e n t
N et R eturn on Inve stm e n t d im a k s u d a d a la h k e u n t u n g a n b e r s ih y a n g d ip e r o le h s e la m a p e r io d e
p r o y e k s i. C ost o f Investm ent d im a k s u d a d a la h in v e s t a s i ( C A P E X ) y a n g d ik e lu a r k a n s e la m a
p e r io d e p r o y e k s i.
B e rd a s a rk a n p e r h it u n g a n to ta l k e u n tu n g a n b e r s ih te rh a d a p to ta l C A P E X s e la m a p e r io d e
p r o y e k s i, m aka d ih a s ilk a n ra ta -ra ta R O I d a ri re n c a n a penam bahan k e g ia t a n u s a h a ja s a
p e n g a n g k u t a n b a r a n g m e la lu i ja l u r p e la y a r a n d o m e s t ik y a n g d ila k u k a n o le h P e r s e r o a n s e b e s a r
1 3 7 ,3 % .
3 .5 .7 A n a lis is K e la y a k a n K e u a n g a n P ro y e k
B e r d a s a r k a n p r o y e k s i L a p o r a n P o s is i K e u a n g a n d a n L a p o r a n L a b a R u g i K o m p r e h e n s if u n t u k
p e r io d e O k t o b e r - D e s e m b e r 2 0 2 5 - 2 0 3 0 , d ih a s ilk a n A r u s K a s B e b a s (Free Cash Flow ) p r o y e k
k e g ia t a n u s a h a b a r u y a n g s e la n ju t n y a d e n g a n m e n g g u n a k a n t in g k a t d is k o n t o b e r d a s a r k a n
p e r h it u n g a n W ACC d it a m b a h dengan T erm inal Value ( N ila i K e k a l) d e n g a n m enggunakan
p e r t u m b u h a n s e b e s a r 3 ,3 0 % m a k a d ip e r o le h h a s il p e r h it u n g a n I R R d i a ta s W A C C d a n P I d i
a ta s 1 s e b a g a im a n a d it u n ju k a n p a d a ta b e l b e r ik u t:
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2025
2026 2027
O k t - Des
0 1 2 3
EBT (5.000.000) 790.780.000 22.279.130.000
( - ) Pajak - (171.627.453) (5.073.036.053)
( + ) Bunga(1-T) 22% - 7.609.680.000 10.146.240.000
( + ) Penyusutan &
6.250.000.000 12.500.000.000
Amortisasi
( - ) Capex -
( - ) Perubahan Modal Kerja
_ (2.716.017.680) (769.065.060)
Nilai Investasi Kapal (200.000.000.000)
A r u s k a s B e r s ih ( 2 0 0 .0 0 0 .0 0 0 .0 0 0 ) ( 5 .0 0 0 .0 0 0 ) 1 1 .7 6 2 .8 1 4 .8 6 7 3 9 .0 8 3 .2 6 8 .8 8 6
WACC 9,79%
Perpetuity Growth 3,30%
Cap. Rate (O f Terminal
Value) 6,49%
T e r m in a l V a lu e
Discount Period - 0,25 1,25 2,25
Discount Factor 1,0000 0,9769 0,8898 0,8104
N ila i K in i A r u s K a s B e r s ih ( 2 0 0 . 0 0 0 .0 0 0 .0 0 0 ) ( 4 .8 8 4 .5 7 0 ) 1 0 .4 6 6 .2 8 8 .8 4 2 3 1 .6 7 3 .6 0 5 .1 2 0
2028 2029 2030
0 4 5 6
EBT 21.484.553.143 21.807.462.857 22.083.525.571
( - ) Pajak (4.726.601.691) (4.797.641.829) (4.858.375.626)
M Bunga (1-T) 22% 9.602.691.429 8.153.228.571 6.703.765.714
( + ) Penyusutan & Amortisasi 12.500.000.000 12.500.000.000 12.500.000.000
( - ) Capex - - -
( - ) Perubahan Modal Kerja 118.635.199 103.163.103 115.689.534
Nilai Investasi Kapal (200.000.000.000)
A r u s k a s B e r s ih ( 2 0 0 . 0 0 0 .0 0 0 .0 0 0 ) 3 8 .9 7 9 .2 7 8 .0 7 9 3 7 .7 6 6 .2 1 2 .7 0 3 3 6 .5 4 4 .6 0 5 .1 9 4
WACC 9,79%
Perpetuity Growth 3,30%
Cap. Rate (Of Terminal Value) 6,49%
T e r m in a l V a lu e 5 8 1 .4 0 0 .0 5 6 .5 5 2
Discount Period - 3,25 4,25 5,25
Discount Factor 1,0000 0,7381 0,6723 0,6123
N ila i K in i A r u s K a s B e r s ih ( 2 0 0 . 0 0 0 .0 0 0 .0 0 0 ) 2 8 .7 7 1 .7 0 3 .2 4 1 2 5 .3 8 9 .8 6 4 .2 5 2 3 7 8 .3 8 3 .0 6 6 .2 9 2
N e t P r e s e n t V a lu e 2 7 4 .6 7 9 .6 4 3 .1 7 7
IR R 2 7 ,0 1 %
P r o f it a b ilit y In d e x (P I) 2 ,3 7
P a y b a c k P e r io d 6 T a h u n 1 B u la n
PT Hotel Fitra In tern atio n al T b k
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D e n g a n m e n g g u n a k a n a s u m s i p r o y e k s i k e u a n g a n ja n g k a p a n ja n g y a n g t e la h d ila k u k a n e v a lu a s i
d a n p e n y e s u a ia n , m e n u n ju k k a n b a h w a p e n a m b a h a n k e g ia t a n u s a h a u s a h a P e r s e r o a n b e r u p a
ja s a p e n g a n g k u t a n b a r a n g m e la lu i j a lu r p e la y a r a n d o m e s t ik d ip e r o le h g a m b a r a n v a r ia b e l y a n g
p o s it if a n t a r a la in :
a. In te rn a l R ate o f R e tu rn ( I R R ) > T i n g k a t D i s k o n t o
IR R y a n g d ih a s ilk a n a d a la h s e b e s a r 2 7 , 0 1 % y a n g b e r a r t i d i a ta s t in g k a t disco u nt rate y a n g
s e b e s a r 9 ,7 9 % .
b. N e t P re s e n t V alue ( N P V ) > 0
N P V y a n g d ih a s ilk a n m e n u n ju k k a n a n g k a y a n g p o s it if y a it u s e b e s a r R p 2 7 4 . 6 7 9 . 6 4 3 . 1 7 7 .
c. P r o fita b ility In d e x ( P I ) > 1
PI y a n g d ip e r o le h a d a la h s e b e s a r 2 ,3 7 y a n g b e r a r t i le b ih b e s a r d a r i 1.
d. P a y b a c k P e rio d ( P P )
P P y a n g d ih a s ilk a n s e b e s a r 6 , 0 5 y a n g b e r a r t i d ip e r o le h d a la m w a k t u 6 t a h u n 1 b u la n .
3 .6 A s p e k K e u a n g a n P e n a m b a h a n K B L I 6 4 2 0 0 (A k tiv ita s P e ru s a h a a n H o ld in g )
Aspek keuangan a d a la h s a la h s a tu aspek yang d ik a ji d a la m s t u d i k e la y a k a n . K a jia n in i
m e n g a n a lis is b e s a ra n in v e s t a s i d a n p e n d a p a ta n p e rta h u n s e b e lu m dan s e t e la h t r a n s a k s i
b e ru p a re n c a n a in v e s t a s i pada PSI s e h in g g a d id a p a t k a n s u a tu k e s im p u la n apakah
p r o y e k / r e n c a n a la y a k d ila k s a n a k a n a t a u p u n t id a k . D a la m s t u d i k e la y a k a n in i, P e n ila i m e n g k a ji
k e b u t u h a n in v e s t a s i s e b e lu m d a n s e t e la h t r a n s a k s i, p r o y e k s i k e u a n g a n s e b e lu m d a n s e te la h
t r a n s a k s i, p e n e n t u a n t in g k a t d is k o n t o (discount rate), k e la y a k a n in v e s t a s i s e b e lu m d a n s e te la h
t r a n s a k s i, d a n a n a lis a s e n s it iv it a s .
3.6 .1 B ia y a In v e s ta s i A w a l
B e la n ja m o d a l m e r u p a k a n in v e s t a s i a w a l y a n g d ik e lu a r k a n F I T T t e r k a it d e n g a n p e n a m b a h a n
k e g ia t a n u s a h a a k t iv it a s p e r u s a h a a n h o ld in g y a n g d ia n g g a r k a n u n t u k p e n y e r t a a n s a h a m p a d a
P S I s e b e s a r R p 1 4 ,0 0 m ilia r .
3 .6 .2 S u m b e r P e m b ia y a a n
S u m b e r p e m b ia y a a n p e n a m b a h a n k e g ia t a n u s a h a b e r a s a l d a r i m o d a l s e n d ir i y a itu d iv e s t a s i
a ta s saham p e ru s a h a a n anak yakni BMP dan FAW yang d ija la n k a n dengan to ta l
R p 1 4 .0 0 0 .0 0 0 .0 0 0 .
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3 .6 .3 A n a lis is P ro y e k s i K e u a n g a n d a n A s u m s i
K a jia n aspek keuangan m e n g a n a lis is b e s a r a n in v e s t a s i d a n a r u s k a s b e r s ih p e rta h u n n y a
s e h in g g a d id a p a t k a n s u a t u k e s im p u la n a p a k a h s u a t u p r o y e k / r e n c a n a k e g ia t a n u s a h a b a r u
la y a k d ila k s a n a k a n a t a u p u n t id a k . A s u m s i d a n p r o s p e k t if k e u a n g a n y a n g t e r b e n t u k m e r u p a k a n
p r o y e k s i k e u a n g a n y a n g te la h m e n d a s a r k a n a s u m s i m e la lu i p e n y e s u a ia n v a r ia b e l m a k r o d a n
v a r ia b e l u m u m la in n y a s e s u a i k e g ia t a n u s a h a y a n g m e n ja d i o b je k k a jia n k e la y a k a n , k o n d is i
dan in f o r m a s i t e r k in i o p e r a s io n a l P e rs e ro a n , k a jia n in d u s t r i d a n t a r g e t p e n c a p a ia n o le h
m a n a je m e n P e r s e r o a n s e s u a i h a s il d is k u s i d a n k o m u n ik a s i o le h m a n a je m e n P e r s e r o a n t e r k a it
kem am puan p e n c a p a ia n n y a dan d is e t u ju i o le h m a n a je m e n P e rs e ro a n dan a ta u P e m b e ri
Tugas.
a. Asum si Um um
B e r ik u t in i a d a la h a s u m s i k e u a n g a n y a n g d ig u n a k a n u n t u k p r o s p e k t if p r o y e k s i k e u a n g a n
p r o y e k a ta u r e n c a n a p e n a m b a h a n k e g ia t a n u s a h a A k t iv it a s P e r u s a h a a n H o ld in g ( K B L I 6 4 2 0 0 )
y a n g a k a n d ija la n k a n P e r s e r o a n d a la m b e n t u k L a p o r a n P o s is i K e u a n g a n , L a p o r a n L a b a R u g i
K o m p r e h e n s if , u n t u k ja n g k a w a k t u p e r io d e O k t o b e r 2 0 2 5 - 2 0 3 0 .
A sum si um um a d a la h a s u m s i y a n g b e r s u m b e r d a r i d a t a p a s a r y a n g d iy a k in i v a lid s e b a g a i
s t a n d a r d a s a r p e n y e s u a ia n d a la m r e v ie w p r o y e k s i k e u a n g a n u n t u k d it e r a p k a n s e la m a p e r io d e
p r o y e k s i, s e b a g a im a n a a n t a r a la in a d a la h s e b a g a i b e r ik u t :
1) P e rtu m b u h a n E k o n o m i : 3 ,3 0 % R a t a - r a t a p e r t u m b u h a n e k o n o m i 5 t a h u n t e r a k h ir
2) P a ja k B a d a n P e r u s a h a a n : 22%
b. A s u m s i P r o y e k s i L a p o r a n P o s is i K e u a n g a n
B e r ik u t a d a la h a s u m s i y a n g d ig u n a k a n u n t u k p e n y u s u n a n p r o y e k s i L a p o r a n P o s is i K e u a n g a n
a ta s p r o y e k a ta u r e n c a n a p e n a m b a h a n k e g ia t a n u s a h a A k t iv it a s P e r u s a h a a n H o ld in g ( K B L I
6 4 2 0 0 ) y a n g a k a n d ija la n k a n P e r s e r o a n u n t u k p e r io d e O k t o b e r 2 0 2 5 - 2 0 3 0 :
1) B e la n ja m o d a l m e ru p a k a n in v e s t a s i a w a l y a n g d ik e lu a r k a n P e r s e r o a n t e r k a it d e n g a n
penam bahan k e g ia t a n usaha a k t iv it a s p e ru s a h a a n h o ld in g d e n g a n re n c a n a in v e s t a s i
p a d a P S I. B e la n ja m o d a l y a n g d ila k u k a n m e m p e r t im b a n g k a n k a p a s it a s d a n k e m a m p u a n
y a n g t e la h d ik o n f ir m a s i d a n d it e r im a s e b a g a i a s u m s i y a n g w a ja r b a g i P e r s e r o a n ;
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P r o y e k s i L a p o r a n P o s is i K e u a n g a n S e b e lu m T r a n s a k s i
B e rd a s a rk a n asum si yang m e n d a s a ri penyusunan a ta s review p ro y e k s i L a p o ra n P o s is i
K e u a n g a n , p r o s p e k t if L a p o r a n P o s is i K e u a n g a n p e r io d e O k t o b e r 2 0 2 5 - 2 0 3 0 a d a la h s e b a g a i
b e r ik u t :
(dalam Rupiah)
2 02 5 2 026 2 027 2 02 8 2 029 2030
LAPORAN POSISI KEUANGAN 1 0 k t - 3 1 Oes 1 J an -31D es lJ a n -3 1 D e s lJ a n -3 1 D e s lJ a n -3 1 D e s 1 Jan-3 1 Des
Forecast Forecast Forecast Forecast Forecast Forecast
ASET
A set Lancar
K a s d a n S e ta ra K as 3 2 .5 8 0 .7 6 4 .2 4 0 3 4 .2 3 2 .7 8 0 .7 2 3 3 6 .6 5 3 .2 4 1 .4 9 2 1 1 2 3 6 .8 1 7 .0 7 3 1 4 .7 0 6 .2 7 6 .2 5 9 2 1 .4 2 0 .7 7 4 .0 2 5
P iu ta n g U s a h a 4 6 1 .7 2 9 .3 6 5 4 1 0 .1 6 0 .8 5 4 3 6 2 .3 7 6 .6 2 0 4 0 1 .5 2 7 .1 3 7 3 9 3 .4 8 1 .1 3 9 4 8 9 .9 5 2 .7 9 5
P i u t a n g L a i n - la in - P ih a k K e tig a - - - - - -
P e r s e d ia a n 8 8 .8 6 5 .0 3 1 8 9 .7 5 3 .6 8 1 9 0 .6 5 1 2 1 8 9 1 .5 5 7 .7 3 0 9 1 .5 5 7 .7 3 0 9 1 .5 5 7 .7 3 0
P a ja k D i b a y a r D i m u k a - - - - - -
UangM uka 1 8 .9 3 1 .6 3 7 .6 2 3 1 8 .9 3 1 .6 3 7 .6 2 3 1 8 .9 3 1 .6 3 7 .6 2 3 4 7 .5 2 8 .2 9 8 .2 3 7 - -
Jumlah aset tan car 52.062.996.259 5 3 .6 6 4 3 3 2 .8 8 1 5 6 .0 3 7 3 0 6 3 5 4 5 9 2 5 8 2 0 0 .1 7 7 15.191.315.129 2 2 .0 0 2 2 8 4 .5 5 0
A s e t T id a k L a n c a r
A s e t p a ja k t a n g g u h a n 1 8 1 .7 0 3 .1 0 1 1 8 1 .7 0 3 .1 0 1 1 8 1 .7 0 3 .1 0 1 1 8 1 .7 0 3 .1 0 1 1 8 1 .7 0 3 .1 0 1 1 8 1 .7 0 3 .1 0 1
A s e t T e ta p 4 6 .3 3 8 .2 1 4 .3 6 0 4 4 .9 2 0 .7 6 1 .5 5 4 4 3 .3 0 9 .1 7 7 .0 2 2 4 1 .6 8 2 .4 8 3 .1 8 5 8 7 .6 0 2 .1 7 2 .9 6 1 8 4 .4 8 9 .9 1 0 .1 5 6
Jumlah aset tidak lancar 4 6 .5 1 9 3 1 7 .4 6 1 4 5.102.464.656 4 3.490.880.123 4 1 .8 6 4 .1 8 6 2 8 6 87.783.876.062 84.671.613.258
JUMLAH ASET 9 8 .5 8 2 3 1 3 .7 2 1 9 8 .7 6 6 .7 9 7 3 3 7 9 9 3 2 8 .7 8 7 .0 7 7 1 0 1 .1 2 2 3 8 6 .4 6 3 1 0 2 3 7 5 .1 9 1 .1 9 1 106.673.897.808
UABIUTAS DAN EKUITAS
LI ABI LITAS
L i a b i li t a s J a n g k a P e n d e k
U ta n g U s a h a - - - - - -
U t a n g L a i n - la in - P ih a k K e tig a - - - - - -
U t a n g P a ja k 4 .4 3 9 .7 0 9 3 9 2 .4 7 9 .3 6 5 6 2 8 .3 8 7 .0 5 8 7 9 7 .2 7 3 .3 3 8 4 .4 3 9 .7 0 9 4 .4 3 9 .7 0 9
B ia y a Y a n g M a s ih H a r u s D ib a y a r 2 4 6 .5 1 6 .5 6 8 2 4 6 .5 1 6 .5 6 8 2 4 6 .5 1 6 .5 6 8 2 4 6 .5 1 6 .5 6 8 2 4 6 .5 1 6 .5 6 8 2 4 6 ,5 1 6 .5 6 8
U ta n g B a n k - J a tu h T e m p o d a la m 2 .7 0 0 .0 0 0 .0 0 0 2 .7 0 0 .0 0 0 .0 0 0 2 .7 0 0 .0 0 0 .0 0 0 2 .7 0 0 .0 0 0 .0 0 0 2 .7 0 0 .0 0 0 .0 0 0 2 .7 0 0 .0 0 0 .0 0 0
U ta n g p e m e g a n g s a h a m 1 6 .5 0 0 .0 0 0 .0 0 0 1 6 .5 0 0 .0 0 0 .0 0 0 1 6 .5 0 0 .0 0 0 .0 0 0 1 6 .5 0 0 .0 0 0 .0 0 0 1 6 .5 0 0 .0 0 0 .0 0 0 1 6 .5 0 0 .0 0 0 .0 0 0
Jumlah Liabilitas Jangka Pendek 1 9 .4 5 0 3 5 6 2 7 7 1 9 .8 3 8 3 9 5 3 3 3 20.074.903.626 2 0 2 4 3 .7 8 9 3 0 6 1 9 .4 5 0 .9 5 6 2 7 7 1 9 .4 5 0 3 5 6 .2 7 7
L i a b i li t a s J a n g k a P a n ja n g
U ta n g B a n k 6 .1 0 3 .1 0 0 .0 0 0 6 .1 0 3 .1 0 0 .0 0 0 6 .1 0 3 .1 0 0 .0 0 0 6 .1 0 3 .1 0 0 .0 0 0 6 .1 0 3 .1 0 0 .0 0 0 6 .1 0 3 .1 0 0 .0 0 0
I m b a t a n p a s c a k e r ja 9 1 5 .9 3 9 .9 7 2 1 .0 1 4 .3 7 6 .8 4 5 1 .1 2 1 .7 6 8 .9 3 6 1 .2 3 9 .5 3 2 .3 7 2 1 .3 7 1 .9 9 3 .7 6 9 1 .3 7 1 .9 9 3 .7 6 9
Jumlah Liabilitas Jangka Panjang 7 .0 1 9 .0 3 9 3 7 2 7 .1 1 7 .4 7 6 3 4 5 7 3 2 4 .8 6 8 3 3 6 7.342.632.372 7.475.093.769 7.475.093.769
JUMLAH LIABILITAS 2 6 .4 6 9 3 9 6 2 4 9 2 6 3 5 6 .4 7 2 .7 7 8 2 7 3 9 9 .7 7 2 3 6 2 2 7 .5 8 6 .4 2 2 2 7 8 2 6 3 2 6 .0 5 0 .0 4 6 2 6.926.050.046
EKUITAS
M o d al saham 1 3 0 .4 2 7 .2 0 5 .1 0 0 1 3 0 .4 2 7 .2 0 5 .1 0 0 1 3 0 .4 2 7 3 0 5 .1 0 0 1 3 0 .4 2 7 .2 0 5 .1 0 0 1 3 0 .4 2 7 .2 0 5 .1 0 0 1 3 0 .4 2 7 .2 0 5 .1 0 0
T a m b a h a n m o d a ld is e to r 2 .3 7 0 .2 3 7 .6 0 0 2 .3 7 0 .2 3 7 .6 0 0 2 .3 7 0 .2 3 7 .6 0 0 2 .3 7 0 2 3 7 .6 0 0 2 .3 7 0 .2 3 7 .6 0 0 2 .3 7 0 .2 3 7 .6 0 0
S a ld o D e fis it (5 5 .2 7 9 .6 0 7 .2 7 9 ) (6 0 .7 0 4 .7 2 5 .8 2 4 ) (6 1 .0 0 7 .3 1 8 .5 3 7 ) (6 0 .5 8 8 .6 2 8 .7 8 0 ) (5 9 .2 8 1 .6 7 9 .1 1 0 ) (5 6 .7 6 8 .5 0 2 .1 5 0 )
L a b a (R u g i ) T a h u n B e r ja la n (5 .4 2 5 .0 8 2 .6 0 1 ) (3 0 2 .5 6 3 .9 9 1 ) 4 1 8 .6 6 2 .3 4 6 1 .3 0 6 .9 7 5 .4 6 5 2 .5 1 3 .0 2 3 .0 2 2 3 .6 9 8 .2 6 6 .1 4 6
J u m l a h E k u it a s Y a n g D a p a t D i a t r ib u s ik a n
K e p a d a P e m ilik E n t i t a s I n d u k 7 2 .0 9 2 .7 5 2 .8 2 0 7 1 .7 9 0 .1 5 2 .8 8 5 7 2 .2 0 8 .7 8 6 .5 0 9 7 3 .5 1 5 .7 8 9 .3 8 5 7 6 .0 2 8 .7 8 6 .6 1 2 7 9 .7 2 7 .2 0 6 .6 9 5
K e p e n t in g a n N o n - P e n g e n d a t i 2 0 .1 6 4 .6 5 2 2 0 .1 7 1 .8 7 4 2 0 .2 2 8 .0 0 6 2 0 .1 7 4 .8 0 1 2 0 .3 5 4 .5 3 4 2 0 .6 4 1 .0 6 7
JUMLAH EKUITAS 7 2 .1 1 2 3 1 7 A 7 1 7 1 3 1 0 3 2 4 .7 5 9 7 2 3 2 9 .0 1 4 3 1 5 7 3 3 3 5 3 6 4 .1 8 5 76.049 .1 4 1.1 45 7 9.747.847.762
JUMLAH LIABILITAS DAN EKUITAS 9 8 3 8 2 3 1 3 .7 2 1 9 8 .7 6 6 .7 9 7 3 3 7 99.5 28 .7 8 7.0 77 1 0 1 .1 2 2 3 8 6 .4 6 3 1 0 2 3 7 5 .1 9 1 .1 9 1 106.673.897.808
PT H otel Fitra In ternation al T b k
Studi Kelayakan Bisnis Terkai Penambahan KBLI 90
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T H E S C I E N T I F I C A P P R A I S A L
KJPP Edi A n d e s t a dan Rekan
P r o y e k s i L a p o r a n P o s is i K e u a n g a n S e te la h T r a n s a k s i
B e rd a s a rk a n asum si yang m e n d a s a ri penyusunan a ta s review p ro y e k s i L a p o ra n P o s is i
K e u a n g a n , p r o s p e k t if L a p o r a n P o s is i K e u a n g a n p e r io d e O k t o b e r 2 0 2 5 - 2 0 3 0 a d a la h s e b a g a i
b e r ik u t :
(d a la m R u p ia h )
2025 2028 2027 2028 2029 2030
K eteran fen 1 Okt - 31 Des 1 Jan • 31 Des 1 J a n -31 Das 1 J a n -31 Des 1 Jan-3 1 Des 1 J a n -31 Des
Forecast Forecast Forecast Forecast Forecast Forecast
ASET
Aset Lancar
Kas dan Setara Kas 69 487 9 4 4 .96 8 24432423424 54.0 78 707.540 6 2 6 4 9 785.213 71 366 7 57.952 80.2 16 .5 5 8.5 02
Deposito 50 0 0 0 0 0 0 .00 0 50.000 0 0 0 .00 0 50 0 00 000 000 50 0 0 0 000 000 50 0 0 0 0 00 .00 0 50.0 00 .0 0 0.0 00
Piutang Usaha - 11.928.928.177 10.844 975 .34 2 10 8 1 5 344 2 62 1 0 8 4 4 975.342 10 8 44 .97 5 .3 42
Pajak Dibayar Dimuka 53 625 53 625 53625 53 625 53.625 53625
Jumlah a se t lancar 119.487 998.593 86.361.405.226 114.923.736.507 123.465.183.101 132 J 1 1.78 6 .9 1 9 141 061.587 470
Aset Tidak Lancar
Aset pajak tangguhan 111 294 962 1 11.294.962 111.294.962 111 .29 4 962 1 11.294.962 111.294.962
AsetTetap - 193.750 0 0 0 .00 0 181 .25 0 .0 00 000 168 750 000 000 156 2 50 000 000 1 4 3 7 5 0 0 0 0 000
Jumlah aset tidak lancar I l l 294 962 193 861.294.962 161.361.294.962 168.861.294.962 156.361.294.962 143.861.294.962
JUMLAH ASET 119.599.293.566 290.222.700.168 296285 031409 2 9 2 .3 2 6 4 7 8 063 286.573.081.882 284.922.882.432
LIABILITAS DAN EKUITAS
LIABILITAS
Liabilitas Jangka Pendek
Utang Usaha - 9212910497 7 359892603 7 4 4 8 896 721 7 581 690 .90 4 7697 380438
Utang Pajak 4 449 459 4.4 4 9.45 9 4 .4 4 9 4 5 9 4 4 4 9 4 59 4 449 459 4 4 4 9 459
Biaya Yang Masih Harus Dibayar 4 2 0 3 8 975 4 2 0 3 8 .9 7 5 4 2 .0 3 8 9 7 5 4 2 038 975 4 2 0 3 8 .9 7 5 42038975
Utang Bank Jatuh Tempo dalam 1 Tahun - - 21 428.571 4 2 9 2 1 4 2 8 571 4 29 21 4 28 571 .42 9 21 4 2 8 571 429
Jumlah Liabilitas Jangka Pendek 46.488.434 9.259.398.931 28.834.952.465 26.923.956 584 29.056.750.767 29.172.440.301
Liabilitas Jangka Panjang
Utang Bank - 150.000.000.000 128.571 4 2 8 571 107.142 857 143 85 7 1 4 2 8 5 .7 1 4 64 2 85 7 1 4 2 8 6
Imbalan pa sea kerja 505 886 193 505 8 8 6 193 5 05 886 193 5 0 5 886 193 505 886 193 505 886 193
Jumlah Liabilitas Jangka Panjang 505.886.193 150.505.888.193 129.077.314.764 107.648.743.335 86.220.171.907 64 7 91 6 0 0 478
JUMLAH LIABILITAS 552.374.627 159 766.266.124 157.912.267.229 136.572.699.919 115Jt7ft.922.ft73 93.964.040.779
EKUITAS
Modal saham 130 4 27 .20 5 .1 00 130.427.205.100 130 4 27 .20 5 .1 00 130 4 2 7 .2 0 5 100 130 4 2 7 2 0 5 .10 0 1 30.427.205.100
Tambahan modal disetor 2 3 7 0 .2 3 7 .6 0 0 2 .3 7 0.23 7 600 2 .3 7 0.23 7 .6 0 0 2 3 7 0 2 3 7 600 2 .3 7 0.23 7 .6 0 0 2.3 7 0.23 7 6 00
Saldo Defisit (10 621 4 5 5 .1 0 7 ) (4 9.75 0 .5 2 3.7 71 ) (48 340.02 7 .6 36 ) (3 0 4 2 4 678 4 60 ) (13 0 43 6 6 4 .5 5 6 ) 4 .4 9 8 716.508
Laba (Rugi) Tahun Berjalan (3 9 1 2 9 068 6 64 ) 1.410.496.135 17.915 349.176 17 381 013 904 17.542 381 ,06 5 17.662.682 445
Jumlah Ekuitas Yang Dapat Diatribusikan
Kepada Pemilik Entitas Induk 8 3 046 918 .92 9 84 457 .41 5 .0 64 102.372.764 240 119 7 53 778 144 1 3 7 2 9 6 159.208 154 9 58 841 .65 3
Kepentingan Non Pengendali 36 0 00 .00 0 .0 00 3 6.000.000.000 3 6.000.000.000 3 6 0 0 0 000 000 36 000 000 0 00 36.000 0 0 0 .00 0
JUMLAH EKUITAS 119.046.918.929 1204 5 7.41 5 .0 6 4 13ft.372.764.240 155.753.778.144 1 7 3 2 9 6 .1 5 9 2 0 8 190.966.841.653
JUMLAH LIABILITAS DAN EKUITAS USS99.293.5S4 280.222.700.188 29ftJaS.031.468 292 3 2 6 4 7 8 063 28ft.573.081.8ft2 284.922.862.432
P T H o te l F itr a In te r n a tio n a l T b k
Studi Kelayakan Bisnis Terkai Penambahan KBLI 91
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N T I F I C A A I S A L
o
KJPP Edi A n d e s t a dan Rekan
P r o y e k s i L a p o ra n L a b a R u g i K o m p r e h e n s if S e b e lu m T r a n s a k s i
B e r d a s a r k a n a s u m s i y a n g m e n d a s a r i p e n y u s u n a n a ta s r e v ie w p r o y e k s i L a p o r a n L a b a R u g i
K o m p r e h e n s if , p r o s p e k t if L a p o r a n L a b a R u g i K o m p r e h e n s if p e r io d e O k t o b e r 2 0 2 5 - 2030
a d a la h s e b a g a i b e r ik u t:
(dalam Rupiah)
2025 2026 2027 2028 2029 2030
la p o r a n L a b a R ugi 1 0 k t-3 1 D e s lJ a n - 3 1 D e s lJ a n -3 1 D e s lJ a n - 3 1 D e s lJ a n - 3 1 D e s 1 Jan -3 1 D es
F o re c a s t F o re c a s t F o re c a s t F o re c a s t F o re c a s t F o re c a s t
P e n d a p a ta n 3 .6 5 2 .0 9 0 .3 8 4 1 2 .9 7 6 .8 1 8 2 3 9 1 4 .6 5 1 .7 3 9 .6 8 7 1 6 .4 6 1 .0 4 6 .0 0 5 2 5 .1 7 1 .5 8 7 .4 7 8 3 3 .9 2 7 .7 6 1 .9 5 8
B e b a n p o k o k p e n d a p a ta n (1 .7 2 8 .3 8 2 .1 7 9 ) (6 .1 0 9 .3 8 1 .4 1 3 ) (6 .7 9 1 .9 7 7 .3 2 8 ) (7 .4 2 4 .0 7 8 .7 7 8 ) (1 0 .9 4 7 .7 2 3 .8 7 9 ) (1 4 .8 5 5 .2 4 8 .7 0 6 )
L a b a (r u g i) k o to r 1 .9 2 3 .7 0 8 .2 0 5 6 .8 6 7 .4 3 6 .8 2 6 7 .8 5 9 .7 6 2 .3 5 9 9 .0 3 6 .9 6 7 .2 2 7 1 4 2 2 3 2 6 3 .5 9 8 1 9 .0 7 2 .5 1 3 2 5 2
B eban U saha (1 .3 7 0 .6 1 6 .4 6 5 ) (5 .5 7 2 .0 6 9 .0 3 9 ) (5 .8 5 5 .4 3 8 .1 2 4 ) (6 .1 6 1 .3 7 1 .2 7 2 ) (9 .9 5 3 .0 6 9 .1 0 2 ) (1 3 .4 3 5 .6 7 4 .1 7 2 )
P e n d a p a t a n ( B e b a n ) L a i n - la i n
P e n d a p a t a n ( B e b a n ) G ir o 2 .8 2 3 .3 9 6 1 4 2 .3 2 6 .0 2 3 1 5 8 .7 4 2 .8 2 7 1 8 1 .0 6 8 .3 2 6 7 5 .9 1 8 .1 7 9 1 0 2 .8 8 1 .1 8 1
P e n d a p a t a n L a in - la i n - - - - - -
B u n g a P in ja m a n B a n k (3 2 3 .5 2 4 .6 8 8 ) (1 .2 9 4 .0 9 8 .7 5 0 ) (1 .2 9 4 .0 9 8 .7 5 0 ) (1 .2 9 4 .0 9 8 .7 5 0 ) (1 .2 9 4 .0 9 8 .7 5 0 ) (1 .2 9 4 .0 9 8 .7 5 0 )
B u n g a S e w a P e m b ia y a a n - - - - - -
P a ja k B u n g a (5 6 4 .6 7 9 ) (2 8 .4 6 5 .2 0 1 ) (3 1 .7 4 8 .5 6 2 ) (3 6 .2 1 3 .6 6 2 ) (1 5 .1 8 3 .6 3 6 ) (2 0 .5 7 6 .2 3 6 )
A d m in is tr a s i B a n k (1 .7 6 0 .5 4 9 ) (7 .3 0 5 .8 8 5 ) (8 .1 1 3 .3 0 7 ) (8 .9 8 5 .5 1 3 ) (8 .5 6 0 .3 0 1 ) (9 .2 0 7 .2 8 8 )
B u n g a P in ja m a n P e m e g a n g S a h a m - (4 1 0 .4 1 6 .6 8 7 ) (4 1 0 .4 1 6 .6 8 7 ) (4 1 0 .4 1 6 .6 8 7 ) (4 1 0 .4 1 6 .6 8 7 ) (4 1 0 .4 1 6 .6 8 7 )
L a b a (R u g i) s e b e l u m p a ja k 2 3 0 .0 6 5 .2 2 1 ( 3 0 2 .5 9 2 .7 1 2 ) 4 1 8 .6 8 9 .7 5 6 1 .3 0 6 .9 4 9 .6 7 0 2 .6 1 8 4 5 3 2 0 1 4 .0 0 5 .4 2 1 2 9 9
P r o y e k s i L a p o r a n L a b a R u g i K o m p r e h e n s if S e te la h T r a n s a k s i
B e r d a s a r k a n a s u m s i y a n g m e n d a s a r i p e n y u s u n a n a ta s r e v ie w p r o y e k s i L a p o r a n L a b a R u g i
K o m p r e h e n s if , p r o s p e k t if L a p o r a n L a b a R u g i K o m p r e h e n s if p e r io d e O k t o b e r 2 0 2 5 - 2030
a d a la h s e b a g a i b e r ik u t :
(dalam Rupiah)
2025 2026 2027 2029 2029 2030
keterangan l O k t - 11 Des 1 Ia n -31 Des lJan-31Des U an-31D es li e n -31 Des 1 Jan-31 Des
Forecast Forecast Forecast Forecast Forecast Forecast
P e n d a p a ta n - 71.971200.000 131 9 4 7 2 0 0 000 131 947.200.000 131 947.200.000 131 947 200 000
B e b a n pok ok p e n d a p a ta n - (55.584 560,000) (89 545 360 000) (90 876 540 000) (92 243 906.000) (93 6514 6 2.00 0 )
Laba (rugi) kotor • 16296.640.000 42491940.000 41.070.660.000 39.703294.000 39295.739.000
B e b a n U s aha (1.177.690 847) (6.617.972.785) (7255.199.144) (7.501.645.922) (7 7 60158.338) (8.029.852.875)
P e n d a p a ta n (B e b a n ) L a in -la in
P e n d a p a ta n (B e b a n ) G iro 1.215491 1 620 655 1620655 1.620 655 1.620655 1.620.655
P e n d a p a ta n (B e b a n ) L a in -la in 7 399 417 1 568 745 017 849033017 849.033.017 849.033.017 849 0 3 3,01 7
B u nga P in ja m a n B a n k - (9 7 5 6 000 000) (13 008 000 000) (12 311.142.857) (10 452.857.143) (8 594.571.429)
B u nga S e w a P e m b ia y a a n - - - - -
P a ia k Bunga (243 098) (243 098) (243 098) (243,098) (243.098) (243 098)
A d m in is tra s i B a nk (666.200) (6 66 2 0 0) (666 200) (666 200) (666.200) (666.200)
K e u n tu n g an (K e ru g ia n ) P e le p a s a n In v e s ta s i Sab (37 973 870 000) - - - -
B u nga P in ja m a n P e m eg an g S a h a m - - - - -
Laba (Rugi) sebelum pajak (39.143.055237) 1682.123.599 77 99lt 395 779 22.107.615.596 22.340.022493 22.521.058.071
M a n fa a t (b e b a n ) p a ja k
P a ja k kini - (171 627 453) (5 0 7 3 0 3 6 053) (4 726.601 691) (4 797.641 829) (4 858.375 626)
P a ja k ta n g g u h a n 14 7 8 6 5 7 2 - - - - •
Laba (Rugi) tahun barjalan (39.129.046.064} 1410496.135 17.915.349.176 17.361.013.904 17.542.391.065 17.962.692.445
P T H o te l F itr a In te r n a tio n a l T b k
Studi Kelayakan Bisnis Terkai Penambahan KBLI 92
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o N / F 1C A P P R A I S A
KJPP Edi A n d e s t a dan Rekan
T in g k a t D is k o n to
T in g k a t d is k o n t o m e ru p a k a n t in g k a t p e n g e m b a lia n yang d ih a r a p k a n yang r e le v a n yang
d ig u n a k a n u n tu k m e n g h it u n g n ila i s e k a ra n g d a ri a lir a n kas di m asa depan. P e n ila i
m e m p e r t im b a n g k a n p e n e n t u a n t in g k a t d is k o n t o b e r d a s a r k a n f a k t o r - f a k t o r s e p e r t i in d u s t r y b is n is ,
r is ik o e k o n o m i d a n p o lit ik d i I n d o n e s ia (cou n try risk) u n t u k m e n c a p a i a r u s k a s p r o y e k s i. D a la m
m e n e n tu k a n disco u nt fa cto r ( D F ) d ip e r h it u n g k a n s e b e s a r 8 ,5 9 % , d im a n a a n g k a in i m e r u p a k a n
t in g k a t d is k o n t o W A C C (W eighted A verage C ost o f C apital) d e n g a n k o m p o s is i in d u s t r i a n t a r a
t in g k a t d is k o n t o e k u it a s d e n g a n t in g k a t b u n g a p in ja m a n s e t e la h p a ja k .
WACC
Cost o f Equity
Risk free rate 6 ,8 8 %
Market risk premium 7 ,0 3 %
Levered Beta 0 ,8 3
Specific Risk 0 ,0 0 %
(-) Default Spread 1 ,87%
Cost o f Equity 1 0 ,8 5 %
Cost o f Debt
Investment Credit 8 ,6 7 %
Tax 2 2 ,0 0 %
Cost o f Debt 6 ,7 6 %
Capital Stmcture
Debt to Total capitalization 5 5 ,2 8 %
Equity to Total capitalization 4 4 ,7 2 %
WACC 8 ,5 9 %
K e t e r a n q a n ( s u m b e r d ip e r o le h s e s u a i d e n g a n T a n g g a l P e n ila ia n ) :
a. T in g k a t B e b a s R is ik o ( R f) m e n g g u n a k a n Indonesia G overm ent S ecurities Y ield C urve p e r
t a n g g a l p is a h b a t a s ( cu t o ff date).
b. B eta (p ) m e r u p a k a n ra ta -ra ta B eta p e r u s a h a a n p e m b a n d in g pada in d u s t r i s e je n is d a n
b e r s u m b e r d a r i dam odaran s e s u a i t a n g g a l p is a h b a t a s (cut o ff date).
c. R isk P rem ium ( R p m ) b e r s u m b e r d a r i dam odaran u n t u k n e g a r a I n d o n e s ia s e s u a i t a n g g a l
p is a h b a t a s ( cu t o ff date).
d. C ost o f de b t b e r s u m b e r d a r i t in g k a t b u n g a b a n k P e r s e r o p e r 3 0 S e p t e m b e r 2 0 2 5 d a n
d ik u r a n g k a n o le h p a ja k b a d a n P e r s e r o a n s e b e s a r 2 2 % .
PT Hotel Fitra In ternation al T b k
Studi Kelayakan Bisnis Terkai Penambahan KBLI 93
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3 .6 .4
/ M T / F
A n a lis is T itik Im p a s (Break Even Point Analysis)
/ C
KJPP Edi A n d e s t a dan Rekan
F A I S A L
*
T it ik im p a s a ta u b re a k even p o in t ( B E P ) a d a la h k e a d a a n s u a t u u s a h a y a n g t id a k m e m p e r o le h
la b a d a n t id a k m e n d e r it a ru g i a ta u d e n g a n k a ta la in s u a t u u s a h a d ik a t a k a n im p a s jik a ju m la h
p e n d a p a t a n ( reve n u e ) s a m a d e n g a n ju m la h b ia y a , a ta u a p a b ila la b a k o n t r ib u s i h a n y a d a p a t
d ig u n a k a n u n t u k m e n u t u p b ia y a t e t a p s a ja . B E P d a p a t d if o r m u la s ik a n s e b a g a i b e r ik u t:
T o ta l Biaya T e ta p
BFP = ------------------------ ------------ ----------
T o ta l B iaya V a ria b e l .
^ ^ P en ju alan ''
N ila i B E P m e n c e r m in k a n p e n d a p a t a n m in im a l y a n g d ip e r lu k a n a g a r t e r ja d i B E P P e r h it u n g a n
B E P p a d a p r o y e k s i a ta s a d a la h s e b a g a i b e r ik u t :
A n a lis is b re a k even p o in t s e b e l u m t r a n s a k s i
2025
2026 2027 2028 2029 2030
Okt - Des
1 2 3 4 5 6
BEP 2 .7 6 6 .7 2 3 .6 8 7 1 0 .7 0 6 .6 8 7 .0 2 0 1 1 .3 1 3 .1 9 6 .0 1 3 1 1 .8 6 5 .2 3 8 .9 9 7 1 8 .1 0 7 .6 4 9 .0 1 8 2 4 .5 9 5 .1 1 9 .2 0 9
BEP Rp
R a ta -ra ta 8 2 ,5 1 % 7 7 ,2 1 % 7 2 ,0 8 % 7 1 ,9 4 % 7 2 ,4 9 %
B E P k e g ia t a n u s a h a a k t v it a s p e r u s a h a a n h o ld in g s e b e lu m t r a n s a k s i s e la m a p e r io d e p r o y e k s i
akan d ic a p a i r a t a - r a t a p a d a p e n d a p a ta n sebesar Rp 1 3 ,2 3 m ilia r , a ta u ra ta -ra ta s e b e s a r
7 5 , 2 5 % d a r i p e n d a p a t a n d ilu a r p e r h it u n g a n p a ja k , b u n g a d a n d e p r e s ia s i.
A n a l i s i s b re a k even p o in t s e t e l a h t r a n s a k s i
2025
2026 2027 2028 2029 2030
Okt - Des
1 2 3 4 5 6
N /A
BEP 2 9 .0 6 6 .5 7 1 .4 8 2 2 2 .5 7 6 .9 2 6 .2 0 3 2 4 .1 0 0 .4 4 4 .8 1 2 2 5 .7 8 9 .5 7 7 .1 6 2 2 7 .6 6 6 .6 9 7 .6 1 5
B E P Rp
R a ta -ra ta 4 0 ,3 9 % 1 7 ,1 1 % 1 8 ,2 7 % 1 9,5 5% 2 0 ,9 7 %
B E P k e g ia t a n u s a h a a k t v it a s p e r u s a h a a n h o ld in g s e t e la h t r a n s a k s i s e la m a p e r io d e p r o y e k s i
akan d ic a p a i r a t a - r a ta pada p e n d a p a ta n s e b e s a r R p 4 0 ,0 6 m ilia r , a ta u ra ta -ra ta sebesar
2 3 , 6 6 % d a r i p e n d a p a t a n d ilu a r p e r h it u n g a n p a ja k , b u n g a d a n d e p r e s ia s i.
PT Hotel Fitra In ternation al Tb k
Studi Kelayakan Bisnis Terkai Penambahan KBLI 94
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E S C I E N T I F I C A P P R A I S A L
KJPP Edi A n d e s t a dan Rekan
3 .6 .5 A n a lis is P r o fita b ilita s (Overall Profitability)
A n a lis is p r o f it a b ilit a s a ta s p e n a m b a h a n k e g ia t a n u s a h a p e n u n ja n g d it a m p ilk a n p a d a ta b e l
b e r ik u t in i:
A n a lis is p r o fita b ilita s (o v e ra ll p r o fita b ility ) s e b e l u m t r a n s a k s i
Keterangan 2025
2026 2027 2028 2029 2030
Okt - Des
1 2 3 4 5 6
G ro s s P ro fit M a rg in (G P M ) 5 2 ,6 7 % 5 2 ,9 2 % 5 3 ,6 4 % 5 4 ,9 0 % 5 6 ,5 1 % 5 6 ,2 2 %
E B IT M a rg in 1 5 ,1 6 % 1 0 ,8 0 % 1 4,4 9% 1 8 ,2 9 % 1 7 ,1 7 % 1 6 ,8 3 %
N e t P ro fit M a rg in (N P M ) 6 ,3 0 % -2 ,3 3 % 2 ,8 6 % 7 ,9 4 % 9 ,9 8 % 1 0 ,9 0 %
R e tu rn O n A s s e ts (R O A ) 0 ,2 3 % -0 ,3 1 % 0 ,4 2 % 1 ,2 9 % 2 ,4 4 % 3 ,4 7 %
A n a lis is p r o f it a b ilit ia s in i b e r t u ju a n u n tu k kem am puan yang d im ilik i P e ru s a h a a n u n tu k
m e n g h a s ilk a n s e b u a h la b a .
B e r d a s a r k a n p r o y e k s i k e u a n g a n p e n a m b a h a n k e g ia t a n u s a h a a k t v it a s p e r u s a h a a n h o ld in g
s e b e lu m t r a n s a k s i, s e la m a p e r io d e p r o y e k s i r a t a - r a t a m a r g in la b a b e r s ih p e r io d e b e r ja la n
a d a la h sebesar 5 ,9 4 % . Sedangkan ra ta -ra ta p e n g e m b a lia n aset (R O A ) d a ri re n c a n a
p e n a m b a h a n k e g ia t a n u s a h a b a r u y a n g d ila k u k a n o le h P e r s e r o a n a d a la h s e b e s a r 1 ,2 6 % .
A n a lis is p r o fita b ilita s (o v e ra ll p r o fita b ility ) s e t e l a h t r a n s a k s i
Keterangan 2025
2026 2027 2028 2029 2030
Okt - Des
1 2 3 4 5 6
G ro s s P ro fit M a rg in (G P M ) 0 ,0 0 % 2 2 ,7 7 % 3 2 ,1 4 % 3 1 ,1 3 % 3 0 ,0 9 % 2 9 ,0 2 %
E B IT M a rg in 0 ,0 0 % 2 ,2 0 % 1 7 ,4 2 % 1 6 ,7 5 % 1 6 ,9 3 % 1 7 ,0 7 %
N e t P ro fit M a rg in (N P M ) 0 ,0 0 % 1 ,96 % 1 3 ,5 8 % 1 3 ,1 7 % 1 3 ,3 0 % 1 3 ,3 9 %
R e tu rn O n A s s e ts (R O A ) -3 2 ,7 2 % 0 ,5 0 % 6 ,0 5 % 5 ,9 5 % 6 ,0 8 % 6 ,2 0 %
B e r d a s a r k a n p r o y e k s i k e u a n g a n p e n a m b a h a n k e g ia t a n u s a h a a k t v it a s p e r u s a h a a n h o ld in g
s e t e la h t r a n s a k s i, s e la m a p e r io d e p r o y e k s i r a t a - r a t a m a r g in la b a b e r s ih p e r io d e b e r ja la n a d a la h
s e b e s a r 9 ,2 3 % . S e d a n g k a n r a t a - r a t a p e n g e m b a lia n a s e t ( R O A ) d a r i r e n c a n a p e n a m b a h a n
k e g ia t a n u s a h a b a r u y a n g d ila k u k a n o le h P e r s e r o a n a d a la h s e b e s a r - 1 , 3 2 % .
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3 .6 .6 T in g k a t Im b a l B a lik In v e s ta s i (Overall Return On Invesment)
D e n g a n R O I, P e r s e r o a n d a p a t m e n g e t a h u i s e b e r a p a e fis ie n p e r u s a h a a n g u n a m e m a n f a a t k a n
a k tiv a u n tu k k e g ia t a n o p e r a s io n a l dan dapat m e m b e r ik a n in f o r m a s i u k u ra n p r o f it a b ilit a s
P e r s e r o a n . F o r m u la d a la m p e r h it u n g a n R O I a d a la h :
N e t R etu rn on In v e s tm e n t
ROI = ----------------- —------------------------x 1 0 0 %
Cost o f In v e s m e n t
N e t R eturn on Inve stm e n t d im a k s u d a d a la h k e u n t u n g a n b e r s ih y a n g d ip e r o le h s e la m a p e r io d e
p r o y e k s i. C ost o f Investm ent d im a k s u d a d a la h in v e s t a s i ( C A P E X ) y a n g d ik e lu a r k a n s e la m a
p e r io d e p r o y e k s i.
B e rd a s a rk a n p e r h it u n g a n to ta l k e u n tu n g a n b e r s ih te rh a d a p to ta l C A P E X s e la m a p e r io d e
p r o y e k s i, m a k a d ih a s ilk a n r a t a - r a t a R O I s e b e lu m t r a n s a k s i d a r i r e n c a n a p e n a m b a h a n k e g ia ta n
u s a h a a k t v it a s p e r u s a h a a n h o ld in g y a n g d ila k u k a n o le h P e r s e r o a n s e b e s a r 1 4 ,1 % . S e d a n g k a n
r a t a - r a t a R O I s e te la h t r a n s a k s i d a r i r e n c a n a p e n a m b a h a n k e g ia t a n u s a h a a k t v it a s p e r u s a h a a n
h o ld in g y a n g d ila k u k a n o le h P e r s e r o a n s e b e s a r 2 5 8 0 ,1 % .
3 .6 .7 A n a lis is K e la y a k a n K e u a n g a n P ro y e k
B e r d a s a r k a n p r o y e k s i L a p o r a n P o s is i K e u a n g a n d a n L a p o r a n L a b a R u g i K o m p r e h e n s if u n t u k
p e r io d e O k t o b e r - D e s e m b e r 2 0 2 5 - 2 0 3 0 , d ih a s ilk a n A r u s K a s B e b a s (Free Cash Flow ) p r o y e k
k e g ia t a n u s a h a b a r u y a n g s e la n ju t n y a d e n g a n m e n g g u n a k a n t in g k a t d is k o n t o b e r d a s a r k a n
p e r h it u n g a n W ACC d it a m b a h dengan T erm inal Value ( N ila i K e k a l) d e n g a n m enggunakan
p e r t u m b u h a n s e b e s a r 3 ,3 0 % m a k a d ip e r o le h h a s il p e r h it u n g a n IR R d i a ta s W A C C d a n P I d i
a ta s 1 s e b a g a im a n a d it u n ju k a n p a d a t a b e l b e r ik u t:
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R A I S A
^ •
A n a lis is K e la y a k a n K e u a n g a n P r o y e k S e b e lu m T r a n s a k s i
2025
2026 2027 2028
O k t-D e s
0 1 2 3 4
EBT 230.065.221 (302.592.712) 418.689.756 1.306.949.670
( - ) Pajak - - - -
( + ) Bunga (1-T) 22% 252.349.256 1.329.522.041 1.329.522.041 1.329.522.041
( + ) Penyusutan & Amortisasi 305.507.409 1.417.452.806 1.611.584.533 1.626.693.837
( - ) Capex - - -
( - ) Perubahan Modal Kerja 51.568.511 47.784.234 (39.150.516)
Nilai Investasi (105.229.800.000)
A r u s k a s B e r s ih ( 1 0 5 .2 2 9 .8 0 0 .0 0 0 ) 7 8 7 .9 2 1 .8 8 6 2 .4 9 5 .9 5 0 .6 4 5 3 .4 0 7 .5 8 0 .5 6 3 4 .2 2 4 .0 1 5 .0 3 2
WACC 8,59%
Perpetuity Growth 3,30%
Cap. Rate (Of Terminal Value) 5,29%
Terminal Value
Discount Period 0,25 1,25 2,25 3,25
Discount Factor 1,0000 0,9796 0,9021 0,8307 0,7650
N ila i K in i A r u s K a s B e r s ih ( 1 0 5 . 2 2 9 .8 0 0 .0 0 0 ) 7 7 1 .8 5 1 .6 9 4 2 .2 5 1 .5 9 0 .8 7 8 2 .8 3 0 .7 5 5 .8 2 2 3 .2 3 1 .3 5 3 .8 7 6
2029 2030
0 5 6
EBT 2.618.453.301 4.005.421.299
( - ) Pajak (105.276.341) (306.714.682)
( + ) Bunga (1-T) 22% 1.329.522.041 1.329.522.041
( + ) Penyusutan & Amortisasi 1.626.693.837 3.112.262.805
( - ) Capex -
( - ) Perubahan Modal Kerja 8.045.997 (96.471.656)
Nilai Investasi (105.229.800.000)
A r u s k a s B e r s ih ( 1 0 5 .2 2 9 .8 0 0 .0 0 0 ) 5 .4 7 7 .4 3 8 .8 3 5 8 .0 4 4 .0 1 9 .8 0 7
WACC 8,59%
Perpetuity Growth 3,30%
Cap. Rate (Of Terminal Value) 5,29%
Terminal Value 157.024.121.413
Discount Period _ 4,25 5,25
Discount Factor 1,0000 0,7045 0,6487
N ila i K in i A r u s K a s B e r s ih ( 1 0 5 .2 2 9 .8 0 0 .0 0 0 ) 3 .8 5 8 .6 8 5 .5 8 8 1 0 7 .0 8 4 .8 1 8 .9 9 0
N e t P r e s e n t V a lu e 1 4 .7 9 9 .2 5 6 .8 4 8
IR R 9 ,9 2 %
P r o f it a b ilit y In d e x (P I) 1 ,1 4
P a y b a c k P e r io d 1 5 T a h u n 3 B u la n
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D e n g a n m e n g g u n a k a n a s u m s i p r o y e k s i k e u a n g a n ja n g k a p a n ja n g y a n g t e la h d ila k u k a n e v a lu a s i
d a n p e n y e s u a ia n , m e n u n ju k k a n b a h w a s e b e lu m r e n c a n a t r a n s a k s i d ip e r o le h g a m b a r a n v a r ia b e l
y a n g p o s it if a n t a r a la in :
a. In te rn a l R a te o f R e tu rn ( I R R ) > T i n g k a t D i s k o n t o
IR R y a n g d ih a s ilk a n a d a la h s e b e s a r 9 ,9 2 % y a n g b e r a r t i d i a ta s t in g k a t disco u nt rate y a n g
s e b e s a r 8 ,5 9 % .
b. N e t P re s e n t V alue ( N P V ) > 0
N P V y a n g d ih a s ilk a n m e n u n ju k k a n a n g k a y a n g p o s it if y a it u s e b e s a r R p 1 4 . 7 9 9 . 2 5 6 . 8 4 8 .
c. P r o fita b ility In d e x ( P I ) > 1
P I y a n g d ip e r o le h a d a la h s e b e s a r 1 ,1 4 y a n g b e r a r t i le b ih b e s a r d a r i 1.
d. P a y b a c k P e rio d ( P P )
P P y a n g d ih a s ilk a n s e b e s a r 1 5 ,2 8 y a n g b e r a r t i d ip e r o le h d a la m w a k t u 1 5 t a h u n 3 b u la n .
A n a lis is K e la y a k a n K e u a n g a n P r o y e k S e te la h T r a n s a k s i
2025
2026 2027
Okt - Des
0 1 2 3
EBT (3 9 .1 4 3 .8 5 5 .2 3 7 ) 1 .5 8 2 .1 2 3 .5 8 9 2 2 .9 8 8 .3 8 5 .2 3 0
( - ) P a ja k - (1 7 1 .6 2 7 .4 5 3 ) (5 .0 7 3 .0 3 6 .0 5 3 )
( + ) B u n g a (1 -T ) 22% - 7 .6 0 9 .6 8 0 .0 0 0 1 0 .1 4 6 .2 4 0 .0 0 0
( + ) P e n y u s u ta n &
- 6 .2 5 0 .0 0 0 .0 0 0 1 2 .5 0 0 .0 0 0 .0 0 0
A m o rtis a s i
( - ) C apex - (2 0 0 .0 0 0 .0 0 0 .0 0 0 ) -
( - ) P e ru b a h a n M o d a l
(2 .7 1 6 .0 1 7 .6 8 0 ) (7 6 9 .0 6 5 .0 6 0 )
K e rja
N ila i In v e s ta s i (1 4 .0 0 0 .0 0 0 .0 0 0 )
Arus kas Bersih (14.000.000.000) (39.143.855.237) (187.445.841.544) 39.792.524.116
WACC 8 ,5 9 %
P e rp e tu ity G ro w th 3 ,3 0 %
Cap. Rate (O f Terminal
Value) 5 ,2 9 %
Terminal Value
D is c o u n t P e rio d 0 ,2 5 1 ,25 2 ,2 5
D is c o u n t F a c to r 1 ,0 0 0 0 0 ,9 7 9 6 0 ,90 21 0 ,8 3 0 7
Nilai Kini Arus Kas Bersih (14.000.000.000) (38.345.490.200) (169.094.428.118) 33.056.568.212
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A / S A L
O
2028 2029 2030
0 4 5 6
EBT 2 2 .1 0 7 .6 1 5 .5 9 5 2 2 .3 4 0 .0 2 2 .8 9 3 2 2 .5 2 1 .0 5 8 .0 7 1
( - ) P a ja k (4 .7 2 6 .6 0 1 .6 9 1 ) (4 .7 9 7 .6 4 1 .8 2 9 ) (4 .8 5 8 .3 7 5 .6 2 6 )
( + ) B u n g a (1 -T ) 2 2% 9 .6 0 2 .6 9 1 .4 2 9 8 .1 5 3 .2 2 8 .5 7 1 6 .7 0 3 .7 6 5 .7 1 4
( + ) P e n y u s u ta n &
1 2 .5 0 0 .0 0 0 .0 0 0 1 2 .5 0 0 .0 0 0 .0 0 0 1 2 .5 0 0 .0 0 0 .0 0 0
A m o rtis a s i
( - ) C apex - - -
( - ) P e ru b a h a n M o d a l K e rja 1 1 8 .6 3 5 .1 9 9 1 0 3 .1 6 3 .1 0 3 1 1 5 .6 8 9 .5 3 4
N ilai In v e s ta s i (1 4 .0 0 0 .0 0 0 .0 0 0 )
Arus kas Bersih (14.000.000.000) 39.602.340.531 38.298.772.739 36.982.137.694
WACC 8 ,5 9 %
P e rp e tu ity G ro w th 3 ,3 0 %
C ap. Rate (O f Terminal
Value) 5 ,2 9 %
Terminal Value 721.913.647.526
D is c o u n t P e rio d - 3 ,2 5 4 ,2 5 5 ,2 5
D is c o u n t F a c to r 1 ,0 0 0 0 0 ,7 6 5 0 0 ,7 0 4 5 0 ,6 4 8 7
Nilai Kini Arus Kas Bersih (14.000.000.000) 30.295.625.280 26.980.296.237 492.319.215.517
Net Present Value 361.211.786.928
IRR 38,70%
Profitability Index (PI) 26,80
Payback Period 8,00
D e n g a n m e n g g u n a k a n a s u m s i p r o y e k s i k e u a n g a n ja n g k a p a n ja n g y a n g t e la h d ila k u k a n e v a lu a s i
d a n p e n y e s u a ia n , m e n u n ju k k a n b a h w a s e t e la h r e n c a n a t r a n s a k s i d ip e r o le h g a m b a r a n v a r ia b e l
y a n g p o s it if a n t a r a la in :
a. In te rn a l R a te o f R e tu rn ( I R R ) > T i n g k a t D i s k o n t o
IR R y a n g d ih a s ilk a n a d a la h s e b e s a r 3 8 , 7 0 % y a n g b e r a r t i d i a ta s t in g k a t d isco u nt rate y a n g
s e b e s a r 8 ,5 9 % .
b. N e t P re s e n t V alue ( N P V ) > 0
N P V y a n g d ih a s ilk a n m e n u n ju k k a n a n g k a y a n g p o s it if y a itu s e b e s a r R p 3 6 1 . 2 1 1 . 7 8 6 . 9 2 8 .
c. P r o fita b ility In d e x ( P I) > 1
P I y a n g d ip e r o le h a d a la h s e b e s a r 2 6 , 8 0 y a n g b e r a r t i le b ih b e s a r d a r i 1.
d. P a y b a c k P e rio d ( P P )
PPyang dihasilkan sebesar 8,75 yang berarti diperoleh dalam waktu 8 tahun 9 bulan.
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P e r b a n d in g a n P a r a m e t e r K e la y a k a n S e b e lu m d a n S e te la h T r a n s a k s i
Hasil Perhitungan
Parameter
No. Satuan Sebelum Hasil Perbandingan
Kelayakan Setelah Transaksi
Transaksi
1 NPV Rp 1 4 .7 9 9 .2 5 6 .8 4 8 3 6 1 .2 1 1 .7 8 6 .9 2 8 N P V s e te la h T ra n s a k s i > N P V S e b e lu m
T ra n s a k s i
2 IR R % 9 ,9 2 % 3 8 ,7 0 % IR R s e te la h T ra n s a k s i > IR R S e b e lu m
T ra n s a k s i
3 PI X 1,14 2 6 ,8 0 PI s e te la h T ra n s a k s i > PI S e b e lu m
T ra n s a k s i
4 PP W a k tu 15 T a h u n , 3 B u lan 8 T a h u n , 9 B u lan P P S e te la h T ra n s a k s i < P P S e b e lu m
T ra n s a k s i
B e rd a s a rk a n h a s il p a r a m e t e r k e la y a k a n in v e s t a s i s e b e lu m dan s e te la h tra n s a k s i m a k a R encana
T r a n s a k s i a d a la h " L a y a k " d ik a r e n a k a n s e lu r u h p a r a m e t e r K e la y a k a n K e u a n g a n a ta s m e n u n ju k a n h a s il
y a n g le b ih b a ik s a a t t r a n s a k s i d ila k u k a n .
IV . K e s im p u la n
4.1 A n a lis is K e la y a k a n A s p e k P a s a r
a. W ila y a h p e r a ir a n y a n g lu a s m e n d o r o n g in d u s t r i p e la y a r a n d i In d o n e s ia m e m ilik i p e r a n y a n g
s a n g a t p e n t in g u n t u k s is t e m lo g is t ik n a s io n a l d a la m m e n d is t r ib u s ik a n b a r a n g d a n ja s a .
S is t e m p e n g a n g k u t a n d e n g a n m o d a t r a n s p o r t a s i la u t y a n g d ik e lo la d e n g a n b a ik d a n e fis ie n
akan m e n in g k a t k a n d a y a s a in g e k o n o m i d a n k o n e k t iv it a s d i s e lu r u h w ila y a h in d o n e s ia
s e b a g a i n e g a r a k e p u la u a n . B o n g k a r m u a t b a r a n g m e r u p a k a n k e g ia t a n y a n g m e m p u n y a i
a n d il t e r h a d a p p e r e k o n o m ia n b a ik d a r i s e g i a k t iv it a s p e r h u b u n g a n la u t h in g g a p e n g a r u h n y a
t e r h a d a p p e n g e m b a n g a n e k o n o m i d a e r a h . B o n g k a r m u a t b a r a n g p e la y a r a n d a la m n e g e r i
d a p a t b e r u p a B a h a n P o k o k , B a h a n S t r a t e g is , M ig a s , N o n m ig a s d a n B a r a n g L a in n y a . J e n is
ja s a p e la y a r a n m e m ilik i c a k u p a n yang o p e r a s io n a l y a n g lu a s u n tu k a n g k u ta n b a ra n g ,
a n g k u ta n p e n u m p a n g , a n g k u t a n c a ir a n d a n g a s , a n g k u t a n k h u s u s , in d u s t r i p e r ik a n a n , ja s a
la in n y a t e r k a it a n g k u ta n a ir d a n la y a n a n pendukung m a r it im . B ongkar m uat b a ra n g
m e r u p a k a n k e g ia t a n ja s a a n g k u t a a n a ir y a n g m e m p u n y a i a n d il t e r h a d a p p e r e k o n o m ia n b a ik
d a r i s e g i a k t iv it a s p e r h u b u n g a n la u t h in g g a p e n g a r u h n y a t e r h a d a p p e n g e m b a n g a n e k o n o m i
d a e r a h . B o n g k a r m u a t b a r a n g p e la y a r a n d a la m n e g e r i d a p a t b e r u p a B a h a n P o k o k , B a h a n
S t r a t e g is , M ig a s , N o n m ig a s dan B a ra n g L a in n y a . B e rd a s a rk a n re n c a n a p e ru s a h a a n ,
la y a n a n y a n g a k a n d is e d ia k a n o le h P S I y a itu p e n g a n g k u t a n k o m o d it a s u t a m a b e r u p a b ijih
n ik e l d a n b a tu k a p u r d e n g a n r u te o p e r a s io n a l u ta m a b e r a d a d i p e r a ir a n S u la w e s i, y a itu r u te
K e n d a r i - L a n g a r a d a n r u te R a h a - B a u b a u . D e n g a n s e b a r a n c a d a n g a n b ijih n ik e l s e b a g ia n
b e s a r s e k it a r 9 0 % t e r s e b a r d i S u la w e s i T e n g a h , S u la w e s i S e la t a n , S u la w e s i T e n g g a r a d a n
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M a lu k u U t a r a s e h in g g a d e n g a n p e lu a n g s u m b e r d a y a d a n c a d a n g a n n ik e l y a n g b e s a r ,
m a k a p e r m in t a a n a k a n a n g k u t a n t r a n s p o r t a s i la u t d ib u t u h k a n u n t u k k e g ia t a n p e n g ir im a n
k a r g o d i w ila y a h S u la w e s i. H a l t e r s e b u t ju g a t e r lih a t d a r i g a m b a r a n in d u s t r i s e p e r t i d i
g a m b a r k a n p a d a s u b b a b 2 . 1 6 y a n g m e n u n ju k k a n p a n g s a p a s a r in d u s t r i p e n g ir im a n b a h a n
ta m b a n g yang akan te ru s b e rk e m b a n g . Dengan b e b e ra p a p e r t im b a n g a n te ru s
m e n in g k a t n y a p r o d u k s i p e r t a m b a n g a n t e r u t a m a k o m o d it a s b ijih n ik e l d i S u la w e s i y a n g
d ip r e d ik s i a k a n t e r u s m e n in g k a t s e ir in g d e n g a n k e b u t u h a n b e r b a g a i in d u s t r i d i I n d o n e s ia
m e n ja d ik a n P e r s e r o a n d a p a t m e la k u k a n k e g ia t a n u s a h a ja s a p e la y a r a n d o m e s t ik y a n g
b e r k e s in a m b u n g a n d i r u te o p e r s io n a l S u la w e s i.
b. P S I m e m ilik i s a s a r a n p e la n g g a n p r io r it a s y a itu p e ru s a h a a n p e rta m b a n g a n , y a n g fo k u s
la y a n a n a n n y a b e r u p a a n g k u t a n k o n t a in e r is a s i b ijih n ik e l d a n b a tu k a p u r . P r io r it a s t e r s e b u t
s e ja la n d e n g a n a d a n y a p o t e n s i p a s a r ja s a a n g k u t a n la u t u n t u k k o m o d it a s b ijih n ik e l d a n
b a t u k a p u r d i I n d o n e s ia , k h u s u s n y a d i w ila y a h S u la w e s i s e ir in g d e n g a n k e b ija k a n u n t u k
m e n d o ro n g h ilir is a s i in d u s t r i p e r t a m b a n g a n . D im a n a t e r ja d i lo n ja k a n p r o d u k s i b ijih n ik e l
p a d a ta h u n 2 0 2 1 , 2 0 2 2 , d a n 2 0 2 3 m a s in g - m a s in g t e r c a t a t s e b e s a r 6 5 ,5 1 ju t a t o n , 9 8 , 1 9
ju t a to n d a n 1 3 7 , 8 0 ju t a to n . L o n ja k a n p r o d u k s i m e r u p a k a n s a la h s a tu d a m p a k d a r i la r a n g a n
e k s p o r b ijih n ik e l m e n t a h y a n g m e n d o r o n g p e r c e p a t a n in v e s t a s i d i s e k t o r h ilir is a s i d e n g a n
m e m b a n g u n f a s ilit a s p e n g o la h a n d i I n d o n e s ia s e c a r a m a s if. B e r d a s a r k a n B o o k le t T a m b a n g
N ik e l 2 0 2 0 , p r o y e k s m e lt e r n ik e l m a s ih d ip e r lu k a n s e ja la n d e n g a n p r o y e k s i p e r m in t a a n n ik e l
p a d a ta h u n 2 0 4 0 s e b e s a r ± 1 ,7 ju t a t o n N i. D it in ja u d a r i w ila y a h d e n g a n s u m b e r d a y a d a n
c a d a n g a n n ik e l p a lin g b e s a r m a k a S u la w e s i m e r u p a k a n p r o v in s i d e n g a n p o t e n s i in d u s t r i
n ik e l t e r b e s a r d i In d o n e s ia . S e b a r a n c a d a n g a n b ijih n ik e l s e b a g ia n b e s a r s e k it a r 9 0 %
t e r s e b a r d i S u la w e s i T e n g a h , S u la w e s i S e la t a n , S u la w e s i T e n g g a r a d a n M a lu k u U ta ra
s e h in g g a P S I m e m ilik i p o t e n s i a n g k u t a n p a d a b ijih n ik e l c u k u p b e s a r d e n g a n f o k u s r u te
o p e r a s io n a l d i S u la w e s i. . B e r d a s a r k a n in f o r m a s i d a r i m a n a je m e n u n t u k s a a t in i p e r u s a h a a n
s e je n is d i I n d o n e s ia y a n g d a p a t d ija d ik a n r e f e r e n s i s e c a r a u m u m b e r g e r a k d i in d u s t r i y a n g
s a m a d a n m e m ilik i k e g ia t a n u s a h a y a n g s e b a n d in g , d ia n t a r a n y a
No N a m a P e ru s a h a a n
1. P T . M e r a t u s L in e
2. P T . T a n t o In tim L in e
3. S a m u d e r a S h ip p in g L in e
4. M IS C B e rh a d
5. C O S C O S h ip p in g B u lk
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c. F I T T b e r e n c a n a m e la k u k a n in v e s t a s i p a d a p e r u s a h a a n y a n g m e n a w a r k a n p e lu a n g a ta u
p o t e n s i u n t u k m e n c ip t a k a n n ila i t a m b a h . S e k t o r in d u s t r i y a n g s a a t in i m e m ilik i p o t e n s i
b e r tu m b u h s e ja la n dengan pem bangunan p e r e k o n o m ia n In d o n e s i y a it u s e k t o r ja s a
p e n g a n g k u t a n b a r a n g m e la lu i j a lu r p e la y a r a n d o m e s t ik . I n v e s t a s i t e r s e b u t d ip r o y e k s ik a n
a k a n m e n c a t a t k a n la b a b e r s ih t a h u n 2 0 3 0 s e b e s a r R p 1 4 , 5 8 m ilia r ( P r o y e k s i) . H a l t e r s e b u t
m e n ja d i p o t e n s i p e n a m b a h a n n ila i p a s a r b a g i F IT T .
4 .2 A n a lis is K e la y a k a n A s p e k T e k n is
a. K e p e m ilik a n saham s e c a ra la n g s u n g pada BMP dan FAW m e n u n ju k k a n F IT T sudah
m e m ilik i p e n g a la m a n d a la m k e g ia t a n in v e s t a s i pada p e ru s a h a a n b e rb a g a i s e k to r .
K e m u d ia n , F I T T b e r e n c a n a m e la k u k a n d iv e s t a s i e n t it a s a n a k y a n g d im ilik i s e c a r a la n g s u n g
y a itu (i) BM P, dan (ii) FAW . D iv e s t a s i pada BMP u n tu k k e p e m ilik a n saham sebesar
9 9 , 9 9 9 8 % a ta u 5 4 9 . 9 9 9 le m b a r s a h a m m ilik F IT T . D iv e s t a s i p a d a F A W u n t u k k e p e m ilik a n
saham s e b e s a r 9 9 ,9 6 % a ta u 5 0 2 . 2 9 9 le m b a r s a h a m . F I T T ju g a b e r e n c a n a m e la k u k a n
in v e s t a s i p a d a P S I y a itu p e r u s a h a a n y a n g b e r g e r a k d ib id a n g ja s a p e n g a n g k u t a n b a r a n g
j a lu r p e la y a r a n d o m e s t ik m a u p u n in t e r n a s io n a l s e h in g g a p e r u s a h a a n a k a n p e n a m b a h a n
K B L I a k t if it a s p e r u s a h a a n h o ld in g p a d a k e g ia t a n u s a h a n y a .
b. P S I b e lu m m e m ilik i a r m a d a u n t u k k e g ia t a n o p e r a s io n a l s a m p a i d e n g a n ta n g g a l s tu d y
k e la y a k a n . S e s u a i d e n g a n b u s in e s s p la n y a n g d ib u a t o le h m a n a je m e n , t e r d a p a t in v e s t a s i
b e r u p a 6 u n it k a p a l t o n g k a n g d a n 1 u n it t u g b o a t d e n g a n s p e s if ik a s i s e s u a i d e n g a n p a d a
s u b b a b 3 .2 . 1 . P e m b e lia n k a p a l d ir e n c a n a k a n s e le s a i s e b e lu m J u n i 2 0 2 6 s e ja la n d e n g a n
t a r g e t P S I u n t u k d a p a t b e r o p e r a s i p a d a J u n i 2 0 2 6 . S a m p a i d e n g a n t a h u n 2 0 3 0 t id a k a d a
r e n c a n a p e n a m b a h a n k a p a l a ta u r e n c a n a p e m b a r u a n a r m a d a s e la in p e m b e lia n 6 u n it k a p a l
t o n g k a n g d a n 1 u n it tu g b o a t. P S I a k a n m e n y e w a 5 u n it t u g b o a t u n t u k m e n u n ja n g k e g ia t a n
o p e r a s io n a l p e r u s a h a a n s e h in g g a ju m la h k a p a l m ilik i s e n d ir i y a itu 6 u n it k a p a l t o n g k a n g
d a n 1 u n it tu g b o a t d a n k a p a l s e w a s e ju m la h 5 u n it t u g b o a t .
c. R a t a - r a t a k a p a s it a s d a y a a n g k u t k a p a l y a it u s e b e s a r 9 .8 0 0 M T p e r p e la y a r a n .
d. P S I s a a t in i b e lu m re s m i b e ro p e ra s i s e c a ra k o m e r s ia l d a n k e te r s e d ia a n sum ber daya
m a n u s ia hanya te rd a p a t pada p o s is i in ti yang d it u g a s k a n pem egang saham . T im
m a n a je m e n in ti y a it u D ir e k s i d a n K o m is a r is P S I. R e n c a n a p e re k ru ta n k a ry a w a n akan
d im u la i p a d a F e b r u a r i 2 0 2 6 u n t u k m e n g is i b e r b a g a i p o s is i. S e la in r e k r u t m e n y a n g d ila k u k a n
o le h p ih a k P S I, t e n a g a a h li u n t u k k e g ia t a n o p e r a s io n a l k a p a l a k a n d iis i o le h c r e w k a p a l
b e r p e n g a la m a n d a r i p e r u s a h a a n p e m ilik k a p a l s e b e lu m n y a . H a l t e r s e b u t s e s u a i d e n g a n
k e s e p a k a t a n a n t a r a P S I d e n g a n p e m ilik k a p a l d a la m p e m b e lia n u n it k a p a l b a h w a p e m ilik
k a p a l a k a n t u r u t m e n y e r t a k a n A n a k B u a h K a p a l ( A B K ) k e p a d a P S I s e la m a 1 t a h u n p e r t a m a
p e m b e lia n .
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R A I S A L
O
4 .3 A n a lis is K e la y a k a n A s p e k P o la B is n is
a. P S I a k a n m e n y e d ia k a n la y a n a n p e n g a n g k u t a n d e n g a n a r m a d a k a p a l d e n g a n r u te y a n g
d ija la n k a n s e s u a i d e n g a n s t a n d a r in d u s t r y u n t u k m e m e n u h i k e b u t u h a n p e n g ir im a n t e p a t
w a k t u k e t e m p a t t u ju a n . K e c e p a t a n d a n k e t e p a t a n w a k t u la y a n a n m e r u p a k a n n ila i t a m b a h
b a g i p e r u s a h a a n p e n g a n g k u t a n b a r a n g b a g i p e m ilik k a r g o . D a la m p e n y e d ia a n la y a n a n ru te ,
p e r u s a h a a n t e r u s b e r u p a y a u n t u k m e n in g k a t k a n p e n g g u n a a n s is t e m n a v ig a s i m o d e r n d a n
m e la k u k a n p e n ja d w a la n yang e fis ie n u n tu k p e m ilik k a rg o . R u te u ta m a p e la y a r a n PSI
m e r u p a k a n r u t e y a n g s u d a h m a t a n g d e n g a n e f is ie n s i o p e r a s io n a l y a n g s ta b il.
b. P S I k e d e p a n a k a n m e m b a n g u n lo y a lit a s d e n g a n p e la n g g a n m e la lu i k o n t r a k ja n g k a p a n ja n g
s e r t a b e k e r ja s a m a d e n g a n k lie n b e s a r . M e s k ip u n s a a t in i P S I b e lu m m e m ilik i k o n t r a k r e s m i
d e n g a n p e m ilik k a r g o d ik a r e n a k a n b e lu m m e m ilik i a r m a d a k a p a l s e r t a b e lu m b e ro p e ra s i
s e c a r a r e s m i.
c. R u t e o p e r a s io n a l u ta m a P e r u s a h a a n a k a n b e r f o k u s d i W ila y a h S u la w e s i y a it u R u te K e n d a r i
- L a n g a ra d a n R u te R a h a - B a u b a u . R u t e 1 m e r u p a k a n r u t e d e n g a n p e la b u h a n m u a t d i
K e n d a r i d a n p e la b u h a n b o n g k a r d i L a n g a r a d e n g a n a s u m s i t o t a l ja r a k te m p u h p u la n g p e r g i
k a p a l s e ja u h 6 0 m ile , k e c e p a ta n k a p a l 4 k n o t, d a n t o t a l w a k t u p e r t r ip 8 , 6 3 h a r i. R u t e 2
m e ru p a k a n r u te d e n g a n p e la b u h a n m u a t di R aha dan p e la b u h a n b o n g k a r d i B a u -b a u
d e n g a n a s u m s i t o t a l ja r a k t e m p u h p u la n g p e r g i k a p a l s e ja u h 8 4 m ile , k e c e p a ta n k a p a l 4
k n o t, d a n t o t a l w a k t u p e r t r ip 8 , 8 8 h a r i.
d. D a la m upaya penam bahan k e g ia t a n usaha a k t if it a s p e ru s a h a a n h o ld in g , k e u n g g u la n
k o m p e t it if F IT T d a la m m e n ja la n k a n usahanya y a itu m e m ilik i tra c k re c o rd sebagai
p e r u s a h a a n in d u k d e n g a n k e p e m ilik a n s a h a m la n g s u n g p a d a B M P d a n F A W s e h in g g a F I T T
d a p a t d ia n g g a p p e r u s a h a a n in v e s t a s i y a n g b e r p e n g a la m a n . S e ja la n d e n g a n p e n a m b a h a n
k e g ia t a n usaha a k t if it a s p e ru s a h a a n h o ld in g m aka p e ru s a h a a n b e re n c a n a m e la k u k a n
in v e s t a s i p a d a P S I a ta u s e k t o r la in n y a d e n g a n m e m p e r t im b a n g k a n p o t e n s i p a s a r g u n a
m e n in g k a t k a n d a y a s a in g F IT T .
4 .4 A n a lis is K e la y a k a n A s p e k M o d e l M a n a je m e n
a. P S I s a a t in i b e lu m re s m i b e ro p e ra s i s e c a ra k o m e r s ia l d a n k e te r s e d ia a n sum ber daya
m a n u s ia h a n y a t e r d a p a t p a d a p o s is i in ti y a n g d it u g a s k a n p e m e g a n g s a h a m . T im m a n a je m e n
in ti y a it u D ir e k s i d a n K o m is a r is P S I. R e n c a n a p e re k ru ta n k a ry a w a n a k a n d im u la i p a d a
F e b r u a r i 2 0 2 6 u n t u k m e n g is i b e r b a g a i p o s is i.
b. S e la in r e k r u t m e n y a n g d ila k u k a n o le h p ih a k P S I, t e n a g a a h li u n t u k k e g ia t a n o p e r a s io n a l
k a p a l a k a n d iis i o le h c r e w k a p a l b e r p e n g a la m a n d a r i p e r u s a h a a n p e m ilik k a p a l s e b e lu m n y a .
H a l t e r s e b u t s e s u a i d e n g a n k e s e p a k a t a n a n t a r a P S I d e n g a n p e m ilik k a p a l d a la m p e m b e lia n
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u n it k a p a l b a h w a p e m ilik k a p a l a k a n t u r u t m e n y e r t a k a n A n a k B u a h K a p a l ( A B K ) k e p a d a P S I
s e la m a 1 t a h u n p e r t a m a p e m b e lia n .
c. P e rs e ro a n t id a k m e m e r lu k a n p e ru b a h a n a ta s s tru k tu r yang d im ilik i, nam un p e r lu
penam bahan ju m la h p e rs o n e l y a itu pada b a g ia n b a g ia n a d m in is t r a s i um um s e p e rti
O p e r a t io n a l M a n a g e r , O p e r a t io n a l S t a f f , M a r k e t in g M a n a g e r , M a r k e t in g S ta ff, F in a n c in g
m a n a g e r d a n F in a n c in g s t a f f u n t u k m e n d u k u n g o p e r a s io n a l p e n a m b a h a n k e g ia t a n u s a h a .
S e s u a i r e n c a n a k e b u t u h a n s u m b e r d a y a m a n u s ia P S I, k e g ia t a n o p e r a s io n a l m e m e r lu k a n
p e r s o n il a ta u c r e w k a p a l d e n g a n t o t a l 6 0 o r a n g u n t u k m e n g o p e r a s ik a n k a p a l, m e m b e r ik a n
p e la y a n a n , d e n g a n t a n g g u n g ja w a b s p e s if ik s e s u a i d e n g a n t u g a s f u n g s i p e r b a g ia n u n t u k
m e m a s t ik a n k a p a l b e r la y a r a m a n d a n e f is ie n s e s u a i p e r a t u r a n .
d. P e rs e ro a n m enyusun p ro g ra m p e la t ih a n P e rs o n e l yang d it e r a p k a n sebagai upaya
m e n in g k a t k a n k a p a s it a s dan k e a h lia n s e s u a i b id a n g n y a . S e la in itu p e rs e ro a n m e m ilik i
m a n a je m e n r is ik o y a n g t e r u k u r d e n g a n m e la k u k a n p e m e t a a n r is ik o d a n k e n d a li a ta s s e t ia p
r is ik o s e r t a u p a y a d a la m m e la k u k a n e lim in a s i r is ik o u n t u k in d u s t r i p e la y a r a n . R is ik o d a p a t
d ik e lo la s e s u a i d e n g a n b u k u m a n u a l m a n a je m e n k e s e la t a n k a p a l b e r d a s a r k a n K o n v e n s i
in t e r n a s io n a l b e s e r t a am andem en te rb a ru n y a , p e ra tu ra n khusus I n d o n e s ia dan n e g a ra
p e la b u h a n , t e r m a s u k a r a h a n d a r i o t o r it a s m a r it im s e t e m p a t S e r t a p a n d u a n p r a k tik t e r b a ik
in d u s t r i, s e p e r t i s t a n d a r t e r k a it y a n g d it e r b it k a n o le h International C h a m b e r o f S hipping ( IC S )
d a n IM O .
4 .5 A n a lis is K e la y a k a n A s p e k K e u a n g a n
D e n g a n m e n g g u n a k a n a s u m s i p r o y e k s i k e u a n g a n ja n g k a p a n ja n g y a n g t e la h d ila k u k a n e v a lu a s i
d a n p e n y e s u a ia n , m e n u n ju k k a n b a h w a p e n a m b a h a n k e g ia t a n u s a h a P e r s e r o a n b e r u p a ja s a
p e n g a n g k u t a n b a r a n g m e la lu i j a lu r p e la y a r a n d o m e s t ik d ip e r o le h g a m b a r a n v a r ia b e l y a n g p o s it if
a n t a r a la in :
a. In te rn a l R ate o f R e tu rn ( I R R ) > T i n g k a t D i s k o n t o
IR R y a n g d ih a s ilk a n a d a la h s e b e s a r 2 7 , 0 1 % y a n g b e r a r t i d i a ta s t in g k a t disco u nt rate y a n g
s e b e s a r 9 ,7 9 % .
b. N e t P re s e n t V alue ( N P V ) > 0
N P V yang d ih a s ilk a n m e n u n ju k k a n a n g k a y a n g p o s it if y a it u s e b e s a r R p 2 7 4 . 6 7 9 . 6 4 3 . 1 7 7 .
c. P r o fita b ility In d e x ( P I) > 1
PI y a n g d ip e r o le h a d a la h s e b e s a r 2 ,3 7 y a n g b e r a r t i le b ih b e s a r d a r i 1.
d. P a y b a c k P e rio d ( P P )
P P y a n g d ih a s ilk a n s e b e s a r 6 , 0 5 y a n g b e r a r t i d ip e r o le h d a la m w a k t u 6 t a h u n 1 b u la n .
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I S A
S t u d i k e la y a k a n ju g a m e la k u k a n a n a lis is a ta s r e n c a n a in v e s t a s i p a d a P S I s e b e lu m d a n s e te la h
L
*
t r a n s a k s i. D engan m enggunakan asum si p ro y e k s i keuangan ja n g k a p a n ja n g yang te la h
d ila k u k a n e v a lu a s i dan p e n y e s u a ia n , m e n u n ju k k a n bahw a penam bahan k e g ia t a n usaha
P e r s e r o a n b e r u p a a k t iv it a s p e r u s a h a a n h o ld in g d ip e r o le h g a m b a r a n v a r ia b e l y a n g p o s it if a n t a r a
la in :
a. H a s il p a r a m e t e r k e la y a k a n in v e s t a s i s e b e lu m t r a n s a k s i:
1) In te rn a l R ate o f R e tu rn ( I R R ) > T i n g k a t D i s k o n t o
IR R y a n g d ih a s ilk a n a d a la h s e b e s a r 9 ,9 2 % y a n g b e r a r t i d i a ta s t in g k a t disco u nt rate
y a n g s e b e s a r 8 ,5 9 % .
2) N e t P re s e n t V alue ( N P V ) > 0
NPV yang d ih a s ilk a n m e n u n ju k k a n angka yang p o s it if y a it u sebesar
R p 1 4 .7 9 9 .2 5 6 .8 4 8 .
3) P r o fita b ility In d e x ( P I) > 1
PI y a n g d ip e r o le h a d a la h s e b e s a r 1 ,1 4 y a n g b e r a r t i le b ih b e s a r d a r i 1.
4) P a y b a c k P e rio d ( P P )
P P y a n g d ih a s ilk a n s e b e s a r 1 5 ,2 8 y a n g b e r a r t i d ip e r o le h d a la m w a k tu 1 5 ta h u n 3
b u la n .
b. H a s il p a r a m e t e r k e la y a k a n in v e s t a s i s e t e la h t r a n s a k s i:
1) In te rn a l R ate o f R e tu rn ( I R R ) > T i n g k a t D i s k o n t o
IR R y a n g d ih a s ilk a n a d a la h s e b e s a r 3 8 , 7 0 % y a n g b e r a r t i d i a t a s t in g k a t disco u nt rate
y a n g s e b e s a r 8 ,5 9 % .
2) N e t P re s e n t V alue ( N P V ) > 0
NPV yang d ih a s ilk a n m e n u n ju k k a n angka yang p o s it if y a it u sebesar
R p 3 6 1 .2 1 1 .7 8 6 .9 2 8 .
3) P r o fita b ility In d e x ( P I) > 1
Pt y a n g d ip e r o le h a d a la h s e b e s a r 2 6 , 8 0 y a n g b e r a r t i le b ih b e s a r d a r i 1.
4) P a y b a c k P e rio d ( P P )
P P y a n g d ih a s ilk a n s e b e s a r 8 , 7 5 y a n g b e r a r t i d ip e r o le h d a la m w a k t u 8 t a h u n 9 b u la n .
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R A I S A L
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P e r b a n d in g a n P a r a m e t e r K e la y a k a n S e b e lu m d a n S e te la h T r a n s a k s i
H a s il P e r h itu n g a n
P a ra m e te r
No. S a tu a n S e b e lu m H a s il P e r b a n d in g a n
K e la y a k a n S e te la h T r a n s a k s i
T ra n s a k s i
1 NPV Rp 1 4 .7 9 9 .2 5 6 .8 4 8 3 6 1 .2 1 1 .7 8 6 .9 2 8 N P V se te la h T ra n s a k s i > N P V S e b e lu m
T ra n s a k s i
2 IR R % 9 ,9 2 % 3 8 ,7 0 % IR R se te la h T ra n s a k s i > IR R S e b e lu m
T ra n s a k s i
3 PI X 1,14 2 6 ,8 0 PI s e te la h T ra n s a k s i > PI S e b e lu m
T ra n s a k s i
4 PP W a k tu 15 T a h u n , 3 B u lan 8 T a h u n , 9 B u lan P P S e te la h T ra n s a k s i < P P S e b e lu m
T ra n s a k s i
B e rd a s a rk a n h a s il p a r a m e t e r k e la y a k a n in v e s t a s i s e b e lu m dan s e t e la h tra n s a k s i m a k a R encana
T r a n s a k s i a d a la h " L a y a k " d ik a r e n a k a n s e lu r u h p a r a m e t e r K e la y a k a n K e u a n g a n a ta s m e n u n ju k a n h a s il
y a n g le b ih b a ik s a a t t r a n s a k s i d ila k u k a n .
4 .6 K e s im p u la n S tu d i K e la y a k a n B is n is
B e r d a s a r k a n a n a lis is a s p e k k e la y a k a n p a s a r , k e la y a k a n te k n is , k e la y a k a n p o la b is n is , k e la y a k a n
m o d e l m a n a je m e n , d a n k e la y a k a n k e u a n g a n d a p a t d is im p u lk a n b a h w a p e n a m b a h a n k e g ia t a n
u s a h a ja s a p e n g a n g k u t a n b a r a n g m e la lu i j a lu r p e la y a r a n d o m e s t ik y a n g m e r u p a k a n b a g ia n d a r i
K B LI 50131 ( A n g k u t a n L a u t D a la m N e g e r i u n t u k B a r a n g U m u m ) , K B L I 5 0 1 3 3 ( A n g k u t a n L a u t
D a la m N e g e ri u n tu k B a ra n g K h u s u s , K B L I 5 0 1 4 1 (A n g k u ta n L a u t L u a r N e g e ri u n tu k B a ra n g
U m u m ) , K B L I 5 0 1 4 2 ( A n g k u t a n L a u t L u a r N e g e r i u n t u k B a r a n g K h u s u s ) d a n A k t if it a s P e r u s a h a a n
H o ld in g ( K B L I 6 4 2 0 0 ) a d a la h la y a k .
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H E S C I E N T I F I C A P P R A I S A L
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4 .7 D is trib u s i L a p o ra n S tu d i K e la y a k a n B is n is
S t u d i K e la y a k a n B is n is in i d is u s u n b e r d a s a r k a n k o n d is i e k o n o m i d a n p e r a t u r a n y a n g a d a p a d a
s a a t in i. K a m i t id a k b e r t a n g g u n g ja w a b u n t u k m e m u t a k h ir k a n a ta u m e le n g k a p i S t u d i K e la y a k a n
B is n is K a m i k a r e n a p e r is t iw a - p e r is t iw a y a n g t e r ja d i s e t e la h t a n g g a l S t u d i K e la y a k a n B is n is in i.
S tu d i K e la y a k a n B is n is in i t id a k s a h a p a b ila t id a k d ib u b u h i t a n d a t a n g a n p ih a k y a n g b e r w e n a n g
d a ri K J P P A n d e s ta .
K a m i m e n y a ta k a n dengan sesungguhnya bahw a K a m i t id a k m e m p u n y a i k e p e n t in g a n , b a ik
s e c a r a la n g s u n g m a u p u n t id a k la n g s u n g a t a s o p in i P e n d a p a t S t u d i K e la y a k a n B is n is y a n g te la h
K a m i la k s a n a k a n , d a n S tu d i K e la y a k a n B is n is in i t e la h d ila k s a n a k a n s e s u a i d e n g a n S t a n d a r
P e n ila ia n In d o n e s ia d a n K o d e E tik P e n ila i In d o n e s ia y a n g b e r la k u .
H o r m a t K a m i,
K J P P E d i A n d e s ta d a n R e k a n
Ir. E d i A n d e s t a . M A P P I ( C e r t )
Pimpinan Rekan
MAPPI 94-S-0411
Klasifikasi: Penilai Properti dan Bisnis
Register RMK-2017.00091
Izin Penilai Publik PB-1.09.00095
Registrasi OJK-Pasar Modal No. STTD.PPB-01/PJ-1/PM.02/2023
Registrasi OJK-IKNB No. 114/NB.122/STTD-P/2016
Lisensi BPN No : 340/SK-600.PT.01 01A/II/2019
P T H o te l F itr a In te r n a t io n a l T b k
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I S A L
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Pernyataan Penilai
D a la m b a t a s k e m a m p u a n d a n k e y a k in a n s e b a g a i P e n ila i, K a m i y a n g b e r t a n d a t a n g a n d ib a w a h in i
m e n y a ta k a n b a h w a :
1. P e rn y a ta a n d a la m la p o r a n in i, y a n g m e n ja d i d a s a r a n a lis is , p e n d a p a t d a n k e s im p u la n yang
d iu r a ik a n d id a la m n y a a d a la h benar sesuai dengan fa k ta dan pem aham an t e r b a ik P e n ila i.
S e la n ju t n y a la p o r a n in i m e n je la s k a n s e m u a s y a r a t - s y a r a t p e m b a t a s y a n g m e m p e n g a r u h i a n a lis is ,
p e n d a p a t d a n k e s im p u la n y a n g t e r t e r a d a la m la p o r a n in i.
2. L a p o ra n in i t e la h d is u s u n sesuai dengan k e te n t u a n - k e t e n t u a n d id a la m P e ra tu ra n
N o . 3 5 / P O J K . 0 4 / 2 0 2 0 , S t a n d a r P e n ila i In d o n e s ia ( S P I) , d a n K o d e E tik P e n ila i ( K E P I ) , te n t a n g
P e d o m a n P e n ila ia n d a n P e n y a jia n L a p o r a n P e n ila ia n U s a h a d i P a s a r M o d a l s e r t a t u n d u k p a d a
k e te n t u a n - k e t e n t u a n y a n g b e r la k u .
3. K a m i s e b a g a i P e n ila i t id a k m e m p u n y a i k e p e n t in g a n b a ik s e c a r a la n g s u n g m a u p u n t id a k s e c a r a
la n g s u n g t e r h a d a p o b je k S t u d i K e la y a k a n B is n is .
4. P e n u g a s a n p e n ila ia n p r o f e s s io n a l t e la h d ila k u k a n t e r h a d a p o b je k S tu d i K e la y a k a n B is n is p a d a
t a n g g a l S t u d i K e la y a k a n B is n is (cu t o ff date).
5. A n a lis is t e la h d ila k u k a n u n t u k m a k s u d d a n t u ju a n s e b a g a im a n a t e la h d iu n g k a p d a la m la p o r a n
S t u d i K e la y a k a n B is n is .
6. O p in i S tu d i K e la y a k a n B is n is yang d ih a s ilk a n d a la m penugasan S tu d i K e la y a k a n B is n is
p r o f e s s io n a l t e la h d is a jik a n s e b a g a i k e s im p u la n a k h ir .
7. L in g k u p p e n u g a s a n d a n d a t a y a n g d ia n a lis is t e la h d iu n g k a p k a n d a la m la p o r a n S t u d i K e la y a k a n
B is n is .
8. K e s im p u la n S tu d i K e la y a k a n B is n is t e la h s e s u a i d e n g a n a s u m s i- a s u m s i d a n k o n d is i p e m b a t a s .
9. D a ta e k o n o m i d a n in d u s t r i d a la m la p o r a n S t u d i K e la y a k a n B is n is d ip e r o le h d a r i b e r b a g a i s u m b e r
y a n g d iy a k in i o le h P e n ila i d a n d a p a t d ip e r t a n g g u n g ja w a b k a n .
1 0 . T id a k s e o ra n g p u n , k e c u a li yang d is e b u t k a n d a la m la p o r a n S tu d i K e la y a k a n B is n is , te la h
m e n y e d ia k a n b a n t u a n p r o f e s io n a l d a la m m e n y ia p k a n la p o r a n S t u d i K e la y a k a n B is n is .
P e n ila i:
Ir. E d i A n d e s t a , M A P P I (C ert)
Penanggung Jaw ab
M A P P I 9 4 -S -0 4 1 1
R e g is t e r : R M K - 2 0 1 7 .0 0 0 9 1
A h m a d F i r d a u s S .P d
P e n g e n d a li M u tu
MAPPI 0 4 -T -0 1 8 14
R e g is t e r : R M K - 2 0 1 7 . 0 0 7 1 8
Iq r o H a i k a l S u l a i m a n S E
P e n ila i
M A P P I 1 1 -T -0 3 1 7 5
R e g is t e r : R M K - 2 0 1 7 . 0 0 7 1 9
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I S A L
o
A sum si dan Syarat Pembatas
S t u d i K e la y a k a n B is n is in i b e r d a s a r k a n a ta s a s u m s i- a s u m s i d a n s y a r a t - s y a r a t p e m b a t a s a n s e b a g a i
b e r ik u t:
1. B a h w a s e m u a p e r n y a t a a n d a n k e te r a n g a n y a n g t e r c a n t u m d a la m la p o r a n in i a d a la h b e n a r d a n
s e s u a i d e n g a n p e n g e t a h u a n s e r t a itik a d b a ik d a r i P e n ila i.
2. B a h w a d e n g a n d ila n d a s i it ik a d b a ik , s e m u a d o k u m e n y a n g d ib e r ik a n a ta u d ip e r lih a t k a n o le h
P e m b e r i T u g a s d a n p ih a k k e t ig a k e p a d a K a m i d a la m r a n g k a S t u d i K e la y a k a n B is n is in i a d a la h
s a h , b e n a r , le n g k a p d a n s e s u a i d e n g a n k e n y a t a a n s e b e n a r n y a d a n b a h w a d o k u m e n - d o k u m e n
y a n g d ib e r ik a n k e p a d a K a m i d a la m b e n t u k f o t o c o p y , t u r u n a n d a n / a t a u s a lin a n a d a la h s e s u a i
d e n g a n a s lin y a d a n d o k u m e n t e r s e b u t a d a la h s a h , b e n a r , le n g k a p s e r t a s e s u a i d e n g a n k e n y a t a a n
s e b e n a rn y a d a n K a m i t e la h m e la k u k a n p e n e la a h a n a ta s d o k u m e n -d o k u m e n y a n g d ig u n a k a n
d a la m p r o s e s S t u d i K e la y a k a n B is n is .
3. D a ta e k o n o m i d a n in d u s t r i d a la m la p o r a n S t u d i K e la y a k a n B is n is , d ip e r o le h d a r i b e r b a g a i s u m b e r
y a n g d iy a k in i o le h P e n ila i d a n d a p a t d ip e r t a n g g u n g ja w a b k a n .
4. K a m i m e n g g u n a k a n p r o y e k s i k e u a n g a n y a n g t e la h d is e s u a ik a n y a n g m e n c e r m in k a n k e w a ja r a n
p r o y e k s i k e u a n g a n y a n g d ib u a t o le h m a n a je m e n d e n g a n k e m a m p u a n p e n c a p a ia n n y a (fid u cia ry
duty).
5. Kam i b e r t a n g g u n g ja w a b a ta s p e la k s a n a a n S tu d i K e la y a k a n B is n is dan k e w a ja r a n p ro y e k s i
keuangan.
6. K a m i b e r ta n g g u n g ja w a b a ta s la p o r a n S tu d i K e la y a k a n B is n is d a n k e s im p u la n n ila i a k h ir .
7. L a p o r a n S t u d i K e la y a k a n in i b e r s if a t t e r b u k a u n t u k p u b lik k e c u a li t e r d a p a t in f o r m a s i y a n g b e r s if a t
r a h a s ia y a n g d a p a t m e m p e n g a r u h i o p e r a s io n a l P e r s e r o a n .
8. K a m i t e la h m e m p e r o le h in f o r m a s i a ta s s t a t u s h u k u m o b je k S t u d i K e la y a k a n B is n is d a r i P e m b e r i
Tugas.
9. K e c u a li d in y a t a k a n s e c a r a t e g a s d id a la m penugasan S tu d i K e la y a k a n B is n is in i, t id a k d a p a t
d ia s u m s ik a n b a h w a K a m i b e r k e w a jib a n d a n t e la h m e la k u k a n p e m e r ik s a a n le g a lit a s a ta s b is n is
o b je k S t u d i K e la y a k a n B is n is .
10. B u k a n m e ru p a k a n t a n g g u n g ja w a b K a m i a ta s s e g a la t u n t u t a n dan k e w a jib a n yang b e r k a it a n
d e n g a n p e n g g u n a a n la p o r a n y a n g t id a k s e s u a i d e n g a n m a k s u d d a n t u ju a n d a r i la p o r a n in i.
1 1 . D a la m P e n u g a s a n in i, P e m b e r i t u g a s t e la h m e m p e la ja r i, m e n g e t a h u i d a n m e n y a d a r i s e p e n u h n y a
m e n g e n a i k e b e ra d a a n K J P P A n d e s ta .
1 2 . B a ik K J P P A n d e s t a , m a u p u n p a r a p e n ila i d a n k a r y a w a n la in n y a , s a m a s e k a li t id a k m e m p u n y a i
k e p e n t in g a n f in a n s ia l t e r h a d a p o b je k S t u d i K e la y a k a n B is n is .
1 3 . K e c u a li d in y a t a k a n la in , N ila i d ic a n t u m k a n d a la m m a t a u a n g R u p ia h , d e m ik ia n ju g a a n a lis is d a n
p e r h it u n g a n y a n g d ig u n a k a n s e b a g a i d a s a r p e n ila ia n b e r d a s a r k a n m a t a u a n g R u p ia h .
1 4 . B a ik K J P P A n d e s t a , m a u p u n p a r a P e n ila i d a n k a r y a w a n n y a , o le h k a r e n a S t u d i K e la y a k a n B is n is
in i t id a k la h d iw a jib k a n m e m b e r ik a n k e s a k s ia n a ta u k e h a d ir a n n y a d a la m p e n g a d ila n / D e w a n
A r b it r a s i a ta u in s t a n s i P e m e r in t a h la in n y a , k e c u a li a d a p e r ja n jia n s e b e lu m n y a .
1 5 . L a p o r a n in i d ia n g g a p s a h a p a b ila t e r t e r a c a p (seal) d a n t a n d a t a n g a n P im p in a n R e k a n .
P T H o te l F itr a In te r n a tio n a l T b k
Studi Kelayakan Bisnis Terkai Penambahan KBLI 109
Names mentioned 22 people and organisations named in the text · linked when the evidence is strong
unresolved
org
A KJPP Edi Andesta dan Rekan
p.1 ×3
unresolved
org
KJPP Edi Andesta
p.1 ×6
unresolved
org
T KJPP Edi Andesta dan Rekan
p.3
unresolved
org
PT. Poseidon Shipping Indonesia.
p.3
unresolved
org
NT KJPP Edi Andesta dan Rekan
p.4
unresolved
person
KH. Abdul Halim
p.5 ×2
unresolved
org
Kantor Jasa Penilai Publik Edi Andesta dan Rekan
p.5
unresolved
org
Kantor Jasa Penilai Publik Edi Andesta
p.5
unresolved
org
Menteri Keuangan
p.5
unresolved
org
KJPP Edi Andesta dan Rekan
p.6
unresolved
org
Menteri Hukum dan Hak Asasi Manusia Republik Indonesia
p.6
unresolved
org
Kementerian
p.6
unresolved
org
PT. Fitra Amanah Wisata
p.16
unresolved
org
PT. Hotel Fitra Internasional
p.20
unresolved
org
PT Hotel Fitra In
p.33 ×17
unresolved
org
Pusat Statistik N
p.36
unresolved
org
Bank Indonesia
p.37
unresolved
org
Bank Indonesia In
p.37
unresolved
org
Pusat Statistik P
p.41
Extraction attempts how the parser did, and what it refused
Nothing structured was extracted from this document — the attempts below say why.
Rule parser
Needs review
confidence 0.091
28129 ms
12 Sep 2026 22:31
Raw output
{'appraiser_exempt': None,
'appraiser_name': '',
'assets': [],
'currency': None,
'fact_type': '',
'issuer_name': '',
'kind': 'MATERIAL_FACT',
'kjpp_name': '',
'letter_number': '',
'object_text': '',
'object_truncated': False,
'parties': [],
'pct_of_equity': None,
'reference_period': '',
'requires_rups': None,
'rups_date': None,
'ticker': '',
'transaction_date': None,
'valuation_date': None,
'value': None}