Perseroan menerapkan beberapa strategi mendasar, yaitu melakukan efisiensi biaya operasi, menjaga going concern, optimalisasi lahan, menata portofolio bisnis, mendapatkan dukungan pemerintah dan melakukan penawaran saham perdana anak perusahaan, meningkatkan shareholder value, menjaga dan meningkatkan komunikasi internal dan eksternal, serta menjaga komitmen pada pengelolaan lingkungan hidup.
Perseroan menjalankan strategi pola operasi yang paling efisien dengan biaya produksi yang kompetitif. Strategi yang dilakukan adalah dengan pendekatan “make or buy”, yaitu hanya memproduksi barang setengah jadi apabila biaya produksinya lebih murah
Pembangunan Proyek Blast Furnace Blast Furnace Project Construction
The Company is implementing some basic strategies, namely operation cost efficiency, maintaining a going concern, the optimization of land, managing business portfolio, obtaining government support and conducting initial public offering of its subsidiaries, increasing shareholder value, maintaining and improving internal and external communication, and maintaining a commitment to environmental management.
The Company operates the most efficient operation strategy with competitive production costs. The strategy is carried out by implementing the “make or buy” approach, where it will only manufacture intermediate products if the production costs are cheaper when
2. Meningkatkan kinerja pabrik melalui peningkatan kehandalan pabrik, perbaikan yield, efisiensi konsumsi, dan meminimumkan produk yang tidak sesuai di seluruh unit produksi.
3. Melakukan upaya aggresive cost reduction melalui: penurunan biaya overhead, pengurangan biaya SDM, reorganisasi dan pendayagunaan SDM di lingkungan KS dan Grup.
4. Mengoptimalkan pemakaian energi untuk mendapatkan biaya energi yang terendah.
5. Melakukan pola kontrak jangka panjang untuk pengadaan bahan baku barang setengah jadi untuk mendapatkan volume dan harga yang bersaing. 6. Melakukan peninjauan, penjadwalan dan sosialisasi
pekerjaan jasa (transportasi, konsultan, outsourcing dan pekerjaan jasa lainnya).
7. Mempersiapkan program pengadaan barang dan jasa untuk mendukung operasi Blast Furnace tahun 2015.
Untuk menjaga ‘Going Concern’ Perseroan, upaya yang dilakukan antara lain meliputi:
1. Meneruskan program strategis utama sesuai dengan rencana strategis Perseroan, yang meliputi: pembangunan Pabrik Blast Furnace, Pabrik Baja Lembaran Panas #2, Pabrik Baja Lapis Galvanis PT Krakatau Nippon Steel Sumikin, Pabrik Baja Tulangan dan Profil PT Krakatau Osaka Steel dan Pabrik Pengolahan Granulated Slag PT Krakatau Semen Indonesia.
2. Mereview kembali Rencana Jangka Panjang Perusahaan agar mampu melakukan adaptasi dan antisipasi tantangan bisnis dimasa mendatang ditengah kondisi perubahan lingkungan eksternal yang cepat dan fluktuatif.
3. Menunjuk konsultan independen melakukan kajian restrukturisasi bisnis, bisnis proses, serta organisasi & SDM untuk meningkatkan kinerja Perseroan dimasa mendatang melalui perbaikan sinergi bisnis dan optimalisasi sumber daya.
Selain itu untuk menghadapi kondisi perekonomian dan bisnis baja serta kondisi internal, Perseroan melakukan langkah-langkah penting untuk memperbaiki dan meningkatkan likuiditas, antara lain sebagai berikut:
2. Improving plant performance through increased plant reliability, improved yield, more efficient consumption, and minimized non-conforming products in all production units.
3. Aggressive cost reduction efforts through: reduction of overhead costs, human resources cost, reorganization and utilization of human resources within the Company and the Group.
4. Optimizing energy consumption to obtain the lowest energy costs.
5. Establishing a long-term contract strategy for the procurement of semi-finished materials to obtain competitive volume and prices.
6. Conducting the review, scheduling and socialization of external service procurement (transportation, consulting, outsourcing and other services work). 7. Preparing goods and service procurement programs
to support the operation of Blast Furnace 2015.
The followings are carried out in order to maintain the ‘Going Concern’ of the Company:
1. Continuing the main strategic programs in accordance with the Company’s plan, which include the construction of Blast Furnace Plant, the construction of Hot Strip Mill # 2, and the development of joint venture companies PT Krakatau Nippon Steel Sumikin, PT Krakatau Osaka Steel and PT Krakatau Semen Indonesia .
2. Performing further review of of the Company’s Long Term Plan to enable the Company’s adaptation and anticipation of future business challenges in this era of the rapidly fluctuating external conditions.
3. Appointing an independent consultant to conduct a review of the Company’s business restructurization plan, implemented business processes, as well as the related organization structures and human resources to improve the Company’s performance through business sinergy and optimalization of its resources.
In addition to that, in order to face the economic and business conditions of the steel busines, as well as its internal conditions, the Company is applying several important steps to improve and increase liquidity, among others:
1. Mengendalikan pengeluaran yang tidak berhubungan dengan cash generation dan revenue enhancement.
2. Meningkatkan volume penjualan dan harga jual melalui peningkatan produk bernilai tambah tinggi; memperbaiki pengaturan sistem penentuan harga jual, penempatan order dan sistem distribusi agar lebih menarik bagi konsumen; dan mengendalikan beban pengiriman produk harian secara merata setiap bulan sehingga tidak menumpuk pada periode tertentu.
3. Melakukan pengendalian capex (capital expenditure) baru dan swakelola investasi untuk menekan biaya investasi.
4. Menekan tingkat persediaan bahan baku utama, produk setengah jadi dan produk jadi.
5. Meningkatkan dan memaksimalkan pendapatan khususnya dari anak perusahaan yang bergerak di bidang non baja.
6. Mendapatkan dan mempertahankan fasilitas pendanaan Perseroan dengan cara memberikan keyakinan ke pihak Lender tentang prospek bisnis PTKS di masa yang akan datang.
Perseroan juga merencanakan untuk memaksimalkan seluruh potensi pendapatan lain-lain (non core), antara lain melalui pendayagunaan, penghapusbukuan dan pemindahtanganan lahan yang tidak dapat dimanfaatkan secara optimal baik di lokasi Jakarta maupun Cilegon.
Mempertimbangkan tantangan bisnis Perseroan dimasa mendatang dan peluang untuk terus tumbuh, Perseroan merencanakan melakukan penataan atas portofolio bisnis yang dimiliki dan mendorong pengembangan bisnis yang memberikan peluang peningkatan kinerja pada masa mendatang.
Alternatif pendanaan pengembangan bisnis portofolio
1. Controlling expenses that are non-related to cash generation and revenue enhancement.
2. Increasing sales volume and selling prices through the increase of products with high added-value; improving the system to determine the selling price, making order placement and distribution system more attractive to consumers; and controlling the distribution of finished product deliveries evenly every month so they do not accumulate only in certain periods.
3. Controlling capex (capital expenditure) and self-managed investments to reduce the investment cost.
4. Reducing the inventory level of main raw material, semi-finished goods and finished goods.
5. Increasing and maximizing revenue, especially from subsidiaries engaged in non-steel.
6. Obtaining and maintaining the Company’s funding facilities by maintaining the confidence of the Lender on the future business prospects of the Company.
The Company also plans to maximize the full potential of other (non-core) incomes, among others, through the utilization, write-off and transfer of land that can not be used optimally in both Jakarta and Cilegon locations.
Considering the growth of its business and the challenges to be faced in the future, the Company will examine and re-arrange all business portfolio to better provide the opportunity for the Company to conduct more effective and focused business.
Perolehan dana IPO tersebut selain bertujuan untuk pendanaan investasi Anak Perusahaan juga untuk pengembangan perusahaan Induk melalui pengadaan lahan baru dan/atau pembangunan fasilitas produksi lainnya. Namun demikian, Perseroan mempunyai kebijakan bahwa baik penerbitan saham baru melalui IPO maupun divestasi Anak Perusahaan harus tetap mempertahankan Perseroan sebagai Pemegang Saham mayoritas.
Apabila hasil kajian, kondisi perekonomian dan pasar modal mendukung untuk dilakukan proses IPO, diharapkan pada akhir tahun 2015, Anak Perusahaan dapat merealisasikan program tersebut.
Perseroan mengusahakan peningkatan dukungan dari Pemerintah atas isu-isu yang terkait dengan industri baja, antara lain;
1. Penerapan ketentuan bea masuk anti dumping/ counterfailing duties, safeguard di area Free TradeZone seperti Batam.
2. Kenaikan harga gas alam dan tarif listrik. 3. Pemberian fasilitas investasi.
4. Penerapan standarisasi produk baja/SNI.
5. Peningkatan sinergi BUMN dan penerapan TKDN (Tingkat Kandungan Dalam Negeri).
6. Implementasi kebijakan P3DN.
Selaras dengan visi Pemerintah, proyek strategis Perseroan merupakan bagian dari upaya Perseroan untuk memberikan dukungan penuh atas program pemerintah khususnya terkait dengan percepatan pembangunan infrastruktur dan industri maritim.
Berbagai proyek Perseroan yang sudah dan sedang dilaksanakan adalah: Pembangunan Pabrik Baja Terpadu (PT Krakatau Posco); Pembangunan Pabrik Pemurnian Bijih Besi (PT Meratus Jaya Iron and Steel), Program Revitalisasi Pabrik Baja (Pabrik Lembaran Canai Panas, Pabrik Besi Spons dan Pabrik Slab Baja), Pembangunan Pabrik Blast Furnace, Combined Cycle Power Plant PT KDL, Pengembangan Pelabuhan PT KBS dan Pengembangan Jaringan Distribusi PT KTI. Sebagian besar proyek tersebut telah selesai dan beroperasi secara komersial.
The IPO proceeds, in addition to finance the Subsidiaries investment, is also for the development of the Parent company through the acquisition of new land development and/or other production facilities. However, the Company has a policy that both the issuance of new shares through an IPO or divestment should retain the Company as the majority shareholders.
If the results of the study concludes that, the condition of the economy and capital market are conducive to conduct the IPO, it is expected that in late 2015, the Subsidiaries may start realizing the program.
The Company is seeking increased support from the Government on issues related to the steel industry, among others:
1. The application of anti-dumping duty / counterfailing duties, safeguards in areas such as Batam’s Free Tradezone.
2. The increase in natural gas prices and electricity tariffs.
3. Provision of investment facility.
4. The application of steel product standardization/ SNI.
5. Increased synergy of SOE and implementation of TKDN (Domestic Content Level).
6. Implementation of P3DN policy.
In line with the Government’s vision, strategic projects of the Company are part of the Company’s efforts to provide full support to government programs, especially related to the acceleration of infrastructure development and the maritime industry.
Various projects that has been completed and are being implemented by the Company are: Development of an Integrated Steel Plant (PT Krakatau Posco); Development of an Iron Ore Purification Plant (PT Meratus Jaya Iron and Steel), Steel Plant Revitalization Program (Hot Rolling Mill, Ironmaking Plant and Slab Steel Plant), Blast Furnace Plant Construction, Combined Cycle Power Plant Construction of PT KDL, Port Development of PT KBS and Distribution Network Development of PT KTI. Most of these projects have been completed and have been commercially operated.
Perseroan juga membangun Pabrik Baja Tulangan dan Profil (PT Krakatau Osaka Steel) bekerjasama dengan Osaka Steel Co.Ltd dan Pabrik Pelapisan Baja Galvanis (PT Krakatau Nippon Steel Steel Sumikin) bekerjasama dengan Nippon Steel Sumitomo Metal Corporation yang merupakan upaya Perseroan untuk memanfaatkan peluang bisnis dan mendukung program-program pemerintah.
Perseroan mempunyai komitmen untuk kembali meningkatkan porsi kepemilikan saham (Shareholder value). Berdasarkan pendekatan proyeksi market multiples dan proyeksi kinerja Perseroan tahun anggaran 2015, maka dengan menggunakan pendekatan P/E Based Valuation, P/BV Based Valuationyaitu P/E rata-rata 10,73 dan P/BV 0,82 didapat perkiraan harga per lembar saham KRAS pada tahun 2015 akan mengalami peningkatan pada kisaran harga Rp. 680 – Rp. 985 per lembar saham.
Berdasarkan perkiraan tersebut diatas diharapkan nilai perusahaan pada tahun 2015 akan mengalami peningkatan dibandingkan tahun sebelumnya. Dengan harga minimum tersebut maka kapitalisasi pasar mencapai USD 867 juta - USD 1.257,7 juta.
Untuk memastikan bahwa semua sasaran tercapai dan strategi terlaksana dengan baik, Perseroan telah merencanakan dan memastikan bahwa semua komunikasi terbangun dan terjalin melalui:
1. Komunikasi yang baik antara manajemen dan karyawan termasuk komunikasi eksternal melalui media internal melalui web Perseroan, majalah Perseroan dan sarana lainnya.
2. Melakukan komunikasi aktif dengan seluruh manajemen melalui gemba Manajemen Perseroan dan media lainnya.
3. Melaksanakan briefing rutin kepada karyawan KS Induk, Manajemen Anak Perusahaan secara periodik.
The company is also building a Rebar and Section Plant (PT Krakatau Osaka Steel) in collaboration with Osaka Steel Co.Ltd and Steel Coating Galvanized plant (PT Krakatau Nippon Steel Sumikin) in collaboration with Nippon Steel Sumitomo Metal Corporation, which are the efforts by the Company to act on business opportunities and to support government programs.
The Company is committed further increase the share of ownership (Shareholder Value). Based on projected market multiples approach and projected performance of the Company in 2015 fiscal year, then by using the approach of the P / E Based Valuation, P / BV Based Valuation on which the average P / E is 10.73 and P / BV is 0.82, it is estimated that the price per share of KRAS in 2015 will increase in the price range of Rp680 – Rp985 per share.
Based on these estimates, the expected value of the Company in 2015 will increase compared to the previous year. With the minimum price, market capitalization will reach USD867 million to USD1,257.7 million.
To ensure that all goals are achieved and the strategies are implemented well, the Company has planned and ensured that all communication is nurtured and developed through:
1. Effective communication between management and employees, including external communication via internal media through the Company’s web, Company magazine and other means.
2. Conducting active communication with the entire management through Company Management gemba (on-site visit) and other media.
3. Conducting regular briefings to employees of the Company, and Subsidiaries Management.
5. Melakukan komunikasi melalui media cetak dan pertemuan dengan masyarakat sekitar baik melalui program Corporate Social Responsibility (CSR) maupun Program Kemitraan dan Bina Lingkungan (PKBL).
Perseroan mempunyai komitmen tinggi atas pengelolaan lingkungan hidup, yang ditunjukkan dengan telah mengikuti PROPER sejak tahun 2004. Perseroan telah mendapatkan Proper Lingkungan Hidup peringkat “Biru” pada periode 2006 – 2009 dan periode 2012 – 2013.
Menyadari bahwa masih banyak kendala yang harus diatasi untuk mencapai Proper Lingkungan Hidup “Hijau”, Perseroan pada tahun 2015tetap mempertahankan peringkat “Biru” dan baru akan mentargetkan peringkat “Hijau” pada tahun 2016. Dalam rangka mempertahankan Proper Lingkungan Hidup peringkat “Biru” pada tahun 2015 dan mencapai peringkat “Hijau” pada tahun 2016, program Perseroan antara lain:
1. Penekanan emisi dan limbah secara sistemik serta peniadaan penyimpangan terhadap Baku Mutu Lingkungan (BML) di dalam unit-unit kerja pabrik. 2. Pengendalian pencemaran udara dengan
pemasangan alat pengukur udara Continuous Emission Monitoring (CEM) pada cerobong pabrik agar memenuhi persyaratan dalam PP nomor 41 tahun 1999, tentang Pengendalian Pencemaran Udara.
3. Pencegahan emisi debu melebihi BML dengan memaksimalkan kinerja sistem dedusting.
4. Penerapan program housekeeping secara konsisten. 5. Pengawasan ketat terhadap baku mutu air limbah. 6. Pengendalian efisiensi pemanfaatan sumber daya
dengan memaksimalkan program 4R (Reduce, Reuse, Recycle&Recovery)
7. Penggunaan bahan baku dan bahan pembantu yang ramah lingkungan secara maksimal.
5. Communicating through printed media and direct meetings with local communities through its Corporate Social Responsibility (CSR) as well as the Partnership and Community Development (PKBL) programs.
The Company has a strong commitment on environmental management, which is shown by its adherence to PROPER since 2004. The Company has obtained the Environment Proper rating of “Blue” in the period of 2006-2009 and in the period of 2012-2013.
Realizing that there are still many obstacles that must be overcome to achieve the “Green” Environment Proper, in 2015 the Company will still be committed to maintain a rating of “Blue” and will target the new rating of “Green” in 2016.
In order to maintain the Environment Proper rating of “Blue” in 2015 and reach the rank “Green” in 2016, the Company implements several programs among others:
1. Systemically reducing emissions and waste as well as eliminating any deviation from the Environmental Quality Standards (BML) in all of the plant’s working units.
2. Controlling of air pollution with the installation of Continuous Emission Monitoring (CEM) air gauges at the plant’s chimneys in order to meet the requirements of Government Regulation No. 41 of 1999, on Air Pollution Control.
3. Prevention of dust emissions exceeding the BML by maximizing dedusting system performance.
4. Application of consistent housekeeping program. 5. Strict supervision of waste water quality standards. 6. Resource utilization efficiency control by maximizing
the 4R program (Reduce, Reuse, Recycle and Recovery)
7. Maximum use of raw materials and auxiliary materials that are environmentally friendly.