ANALISIS RETURN ON INVESTMENT PROYEK PEMBANGUNAN GOR KEROBOKAN TERHADAP PENGGUNAAN MODAL KERJA KONTRAKTOR

Abstract

Evaluation on Cash Flow Project shows that cash inflows experiencing
delays during June, July, August and November 2008. This however, is overcome
by the use of working capital. It indicates that such project is sufficiently liquid.
Project profitability of GOR Kerobokan in Badung regency reached Operating /
Profit Margin of 15.1% indicating the company’s ability to generate operating
profit in one period of the project amounted to 15.1%. The analysis shows that ROI
= 16,827%, ROIbefore tax = 28.573% and ROIafter tax = 20.001%. These ROIs are
greater than the profit margins that amounted to 15.1% and the effective rate of
15% per years. The investment analysis shows that NPV = IDR 77,672,800.77
using the discount rate (i) of 3%. The NPV is positive (+), the IRR = 3.196% per
month and BCR = 1.0095. The IRR is larger than bank (BPD Bali) interest rate of
1.25% per month (IRR > i). BCR is greater than 1 indicating that GOR Kerobokan
Development Project is financially feasible.