Lampiran i Daftar Perusahaan Sampel Manufaktur
No. Kode Nama Perusahaan Sampel
1 ADES PT Ades Waters Indonesia Tbk
2 AQUA PT Aqua Golden Mississipi Tbk 1
3 CEKA PT Cahaya Kalbar Tbk 4 DAVO PT DavomasAbadi Tbk 5 DLTA PT Delta Djakarta Tbk
6 FAST PT Fast Food Indonesia Tbk 2
7 INDF PT Indofood Sukses Makmur Tbk
8 MYOR PT Mayora Indah Tbk 3
9 MLBI PT Multi Bintang Indonesia Tbk
10 PTSP PT Pioneerindo Gourment International Tbk 11 PSDN PT Prasidha Aneka Niaga Tbk
12 SKBM PT Sekar Bumi Tbk 13 SKLT PT Sekar Laut Tbk 14 STTP PT Siantar Top Tbk 15 SIPD PT Sierad Produce Tbk
16 AISA PT Tiga Pilar Sejahtera FoodTbk 17 TBLA PT Tunas Baru Lampung Tbk 18 ULTJ PT Ultra Jaya Milk Tbk 19 BATI PT BAT Indonesia Tbk
20 RMBA PT Bentoel International Investama Tbk 4
21 GGRM PT Gudang Garam Tbk 5
22 HMSP PT HM Sampoerna Tbk 6
23 ARGO PT Argo Pantes Tbk 24 ERTX PT Eratex Djaja Tbk
25 CNTX PT Century Textile Industry (Centex) Tbk
26 PAFI PT Panasia Filament Inti Tbk 9
27 RDTX PT Roda Vivatex Tbk
28 SSTM PT Sunson textile Manufacture Tbk
29 TEJA PT Textile Manufacturing Company Jaya Tbk 30 TFCO PT TIFICO Tbk
31 UNTX PT Unitex Tbk 32 SMRT PT SMART Tbk
33 HDTX PT Panasia Indosyntec Tbk 34 MYTX PT APAC Citra Centertex Tbk 35 DOIT PT Delta Dunia Petroindo Tbk 36 ESTI PT Ever Shine Textile Tbk 37 FMII PT Fortune Mate Indonesia Tbk
Lampiran i (lanjutan) 39 SRSN PT Indo Acidatama Tbk
40 INDR PT Indorama Syntetics Tbk 10
41 KARW PT Karwell Indonesia Tbk
42 PBRX PT Pan Brothers Tex Tbk 8
43 BIMA PT Primarindo Asia Infrastructure Tbk 11 44 RICY PT Ricky Putra Globalindo Tbk
45 BATA PT Sepatu Bata Tbk 12
46 SIMM PT Surya Intrindo Makmur Tbk
47 BRPT PT Barito Pacific Timber Tbk 13
48 BSUC PT Daya Sakti Ungul Corporation Tbk 14 49 SULI PT Sumalindo Lestari Jaya Tbk
50 TIRT PT Tirta Mahakam Resources Tbk 51 FASW PT Fajar Surya Wisesa Tbk
52 INKP PT Indah Kiat Pulp & Paper Tbk 15 53 TKIM PT Pabrik Kertas Tjiwi Kimia Tbk
54 SPMA PT Suparma Tbk
55 SAIP PT Surabaya Agung Industry Pulp Tbk 56 INRU PT Toba Pulp Lestari
57 AKRA PT AKR Corporindo Tbk
58 BUDI PT Budi Acid Jaya Tbk 16
59 CLPI PT Colorpak Indonesia Tbk 17
60 ETWA PT Eterindo Wahanatama Tbk 61 LTLS PT Lautan Luas Tbk
62 POLY PT Polysindo Eka Perkasa Tbk 63 SOBI PT Sorini Agro Asia Tbk 64 TPIA PT Tri Polyta Indonesia Tbk 65 UNIC PT Unggul Indah Cahaya Tbk 66 DPNS PT Duta Pertiwi Nusantara Tbk
67 EKAD PT Ekadharma International Tbk 25
68 INCI PT Intanwijaya Internasional Tbk 24 69 KKGI PT Resource Alam Indonesia Tbk
70 AKKU PT Aneka Kemasindo Utama Tbk 18
71 AKTI PT Argha Karya Prima Industry Tbk 72 AMFG PT Asahimas Flat Glass Tbk
73 APLI PT Asiaplast Industries Tbk 19
74 BRNA PT Berlina Tbk 75 DYNA PT Dynaplast Tbk 76 IGAR PT Kageo Igar Jaya Tbk
77 LMPI PT Langgeng Makmur Plastik Industry Tbk 78 LAPD PT Leyland International Tbk
79 SIMA PT Siwani Makmur Tbk
80 FPNI PT Titan Kimia Nusantara Tbk 81 TRST PT Trias Sentosa Tbk
Lampiran i (lanjutan) 82 TALFA PT Tunas Alfin Tbk
83 YPAS PT Yanaprima Hastapersada Tbk
84 SNCB PT Holcim Indonesia Tbk 21
85 INTP PT Indocement Tunggal Perkasa Tbk
86 SMGR PT Semen Gresik (Persero) Tbk 20
87 ALMI PT Alumindo Light Metal Industry Tbk 22 88 BTON PT Beton jaya Manunggal Tbk
89 CTBN PT Citra Tubindo Tbk 23
90 INAI PT Indal Aluminium Industry Tbk 91 ITMA PT Itamaraya Gold Industry Tbk 92 JKSW PT Jakarta Kyoei Steel Works tbk 93 JPRS PT Jaya Pari Steel Tbk
94 LMSH PT Lion Mesh Prima Tbk 95 LION PT Lion Metal Works Tbk 96 PICO PT Pelangi Indah Canindo Tbk 97 TBMS PT Tembaga Mulia Semanan Tbk 98 TIRA PT Tira Austenite Tbk
99 KICI PT Kedaung Indah Can Tbk 26
100 KDSI PT Kedawung Setia Industrial Tbk
101 ARNA PT Arwana Citra Mulia Tbk 27
102 IKAI PT Intikeramik Alamasri Industry Tbk
103 KIAS PT Keramika Indonesia Assosiasi Tbk 28 104 MLIA PT Mulia Industrindo Tbk
105 TOTO PT Surya Toto Indonesia Tbk 106 KBLI PT GT Kabel Indonesia tbk 107 JECC PT Jembo Cable Company Tbk 108 KBLM PT Kabelindo Murni Tbk
109 IKBI PT Sumi Indo Kabel Tbk 29
110 SCCO PT Supreme Cable Manufacturing & Commerce Tbk
111 VOKS PT Voksel Electric Tbk 30
112 ASGR PT Astra Graphia Tbk 31
113 MTDL PT Metrodata Electronics Tbk 33
114 MLPL PT Multipolar Corporation Tbk 32
115 MYOH PT Myoh Technologi Tbk
116 PTSN PT Sat Nusapersada 41
117 SQMI PT Allbond Makmur Usaha Tbk 118 ASII PT Astra International Tbk
119 AUTO PT Astra Otoparts Tbk 34
120 GJTL PT Gajah Tunggal Tbk
121 GDYR PT Goodyear Indonesia Tbk 35
Lampiran i (lanjutan)
122 HEXA PT Hexindo Adiperkasa Tbk 123 BRAM PT Indo Kordsa Tbk
124 IMAS PT Indomobil Sukses Internasional Tbk
125 INDS PT Indospring Tbk 36
126 INTA PT Intraco Penta Tbk
127 LPIN PT Multi Prima Sejahtera Tbk 128 MASA PT Multistrada Arah Sarana Tbk 129 NIPS PT Nipress Tbk
130 INTD PT Inter Delta Tbk
131 MDRN PT Modern International Tbk 132 KONI PT Perdana Bangun Pusaka Tbk
133 SQBI PT Bristol-Myers Sauibb Indonesia Tbk 134 DVLA PT Darya-Varia Laboratoria Tbk
135 INAF PT Indofarma (Persero) Tbk
136 KLBF PT Kalbe Farma Tbk 37
137 KAEF PT Kimia Farma (Persero) Tbk 38
138 MERK PT Merck Tbk
139 PYFA PT Pyridam Farma Tbk
140 SCPI PT Schering Plough Indonesia Tbk 141 TSPC PT Tempo Scan Pacific Tbk 142 TCID PT Mandom Indonesia Tbk
143 MRAT PT Mustika Ratu Tbk 39
144 PROD PT Sara Lee Body Care Indonesia Tbk
145 UNVR PT Unilever Indonesia Tbk 40
146 SMSM PT Selamat Sempurna Tbk 147 TURI PT Tunas Ridean Tbk 148 UNTR PT United Tractors Tbk 149 SUBA PT Suba Indah Tbk
150 SDYI PT Surya Dumai Industri Tbk 151 FPNI PT Fatrapolindo Nusa Industri
Lampiran ii
Perhitungan ROA tahun 2006-2008
NO NAMA PERUSAHAAN RETURN ON ASSET
(ROA)
2006 2007 2008
1 Aqua Golden Mississipi Tbk 0.061 0.074 0.082
2 Indofood Sukses Makmur Tbk 0.041 0.033 0.026
3 Mayora Indah Tbk 0.060 0.075 0.067
4 Bentoel International Investama Tbk 0.062 0.065 0.054
5 Gudang Garam Tbk 0.046 0.060 0.078
6 HM Sampoerna Tbk 0.279 0.231 0.241
7 Hanson International Tbk -0.138 -0.261 -0.112
8 Pan Brothers Tbk 0.018 0.030 0.004
9 Panasia Filament Inti Tbk -0.064 -0.093 0.251
10 Indorama Synthetics Tbk 0.003 0.004 0.012
11 Karwell Indonesia Tbk -0.232 0.020 0.396
12 Sepatu Bata Tbk 0.074 0.104 0.392
13 Barito Pasific Tbk 0.004 0.003 -0.197
14 Daya Sakti Unggul Corporation Tbk 0.075 -0.229 -0.329 15 Indah Kiat Pulp and Paper Tbk -0.035 0.017 0.013
16 Budi Acid Jaya Tbk 0.022 0.031 0.020
17 Colorpak Indonesia Tbk 0.058 0.058 0.078
18 Aneka Kemasindo Utama Tbk 0.002 0.001 0.085
19 Asiaplast Industries Tbk 0.0002 -0.016 -0.011
20 Semen Gresik (Persero) Tbk 0.173 0.208 0.238
21 Holcim Indonesia Tbk 0.025 0.024 0.037
22 Alumindo Light Metal Industry Tbk 0.067 0.023 0.003
23 Citra Tubindo Tbk 0.134 0.137 0.100
24 Intan Wijaya Internasional Tbk -0.027 0.022 0.024
25 Ekadarma Internasional Tbk 0.077 0.050 0.033
26 Kedaung Indah Can Tbk -0.106 0.196 0.035
27 Arwana Citramulia Tbk 0.059 0.069 0.074
28 Keramika Indonesia Assosiasi Tbk 0.184 -0.106 0.026
29 Sumi Indo Kabel Tbk 0.075 0.131 0.153
30 Voksel Electric Tbk 0.075 0.067 0.004 31 Astra Graphia Tbk 0.095 0.115 0.074 32 Multipolar Tbk 0.006 0.006 -0.017 33 Metrodata Electronik Tbk 0.025 0.023 0.006 34 Astra Otoparts Tbk 0.093 0.132 0.142 35 Goodyear Indonesia Tbk 0.056 0.073 0.001
Lampiran ii (lanjutan)
36 Indospring Tbk 0.004 0.016 0.035
37 Kalbe Farma Tbk 0.146 0.137 0.124
38 Kimia Farma (Persero) Tbk 0.035 0.038 0.038
39 Mustika Ratu Tbk 0.031 0.035 0.063
40 Unilever Indonesia Tbk 0.372 0.036 0.370
41 Sat Nusapersada Tbk 0.033 0.028 -0.005
Lampiran iii
Ringkasan perhitungan Economic Value Added (EVA)
1. Net Operating After Tax (NOPAT)
Perhitungan NOPAT tahun 2006-2008 (dalam Rp) NO NAMA PERUSAHAAN NOPAT 2006 2007 2008 1 Aqua Golden Mississipi Tbk 55.139.747.263 56.317.508.789 129.822.968.143 2 Indofood Sukses Makmur Tbk 2.443.790.000.000 3.573.282.000.000 5.143.029.000.000 3 Mayora Indah Tbk 127.069.926.971 175.503.117.368 272.939.423.253 4 Bentoel International Investama Tbk 167.542.830.702 381.486.439.761 415.179.239.881 5 Gudang Garam Tbk 2.784.267.000.000 3.287.569.000.000 3.941.487.000.000 6 HM Sampoerna Tbk 5.173.495.000.000 3.865.047.000.000 4.325.064.000.000 7 Hanson International Tbk -76.129.066.792 -68.470.691.895 -2.580.617.542 8 Pan Brothers Tbk 29.143.546.519 54.360.456.196 59.375.954.737 9 Panasia Filament Inti Tbk -81.825.749.705 -83.772.005.622 -83.925.454.763 10 Indorama Synthetics Tbk 5.743.709 11.852.029 817.814 11 Primarindo Asia Tbk 6.670.536.858 6.371.338.159 702.699.530 12 Sepatu Bata Tbk 24.053.289.000 42.332.892.000 -15.088.376.000 13 Barito Pasific Tbk -183.560.329.652 -38.366.000.000 -2.486.177.000 14 Daya Sakti Unggul
Corporation Tbk
-9.421.575.021 -18.631.346.060 -45.540.461.183 15 Indah Kiat Pulp and
Paper Tbk
266.252.738 244.295.706 153.519.123 16 Budi Acid Jaya Tbk 97.785.000.000 172.552.000.000 146.541.000.000 17 Colorpak Indonesia Tbk 18.574.141.250 22.782.656.215 42.828.544.057 18 Aneka Kemasindo Utama Tbk 165.513.585 1.407.196.210 -11.890.717.094 19 Asiaplast Industries Tbk 4.405.874.173 8.596.746.433 26.085.683.597
Lampiran iii (lanjutan)
Sumber : Indonesian Capital Market Directory dan www.idx.co.id
20 Semen Gresik (Persero) Tbk 1.233.036.216 1.630.173.223 2.341.617.252 21 Holcim Indonesia Tbk 71.301.000.000 537.555.000.000 1.007.451.000.000 22 Alumindo Light Metal Industry Tbk 138.087.485.808 84.850.809.242 115.889.614.113 23 Citra Tubindo Tbk 19.104.751 17.726.829 19.863.202 24 Intan Wijaya Internasional Tbk 3.307.669.632 196.407.816 3.307.669.632 25 Ekadarma Internasional Tbk 1.828.802.004 7.605.391.058 12.414.798.825 26 Kedaung Indah Can
Tbk -18.182.377.113 -31.046.263.308 10.035.384.349 27 Arwana Citramulia Tbk 48.481.049.394 76.845.593.222 90.724.805.722 28 Keramika Indonesia Assosiasi Tbk 1.411.921.088 29976.507.154 35.245.591.125 29 Sumi Indo Kabel
Tbk 63.486.868.000 82.039.226.597 104.433.967.143 30 Voksel Electric Tbk 57.299.274.871 118.550.911.989 145.861.568.979 31 Astra Graphia Tbk 26.111.603.805 118.254.921.064 127.343.158,.531 32 Multipolar Tbk 479.274.000.000 2.726.518.000.000 3.173.455.000.000 33 Metrodata Electronik Tbk 40.593.513.02 80.584.051.257 204.472.147.335 34 Astra Otoparts Tbk 258.061.000.000 475.631.000.000 613.756.000.000 35 Goodyear Indonesia Tbk 46.727.136.000 77.370.455.000 49.197.546.000 36 Indospring Tbk -6.359.545.018 70.677.161.135 191.054.368.418 37 Kalbe Farma Tbk 1.396.995.383.891 1.476.374.539.700 1.495.229.621.118 38 Kimia Farma (Persero) Tbk 46.290.404.314 47.219.225.790 66.324.487.354 39 Mustika Ratu Tbk 13.578.704.515 22.259.299.739 34.849.661.063 40 Unilever Indonesia Tbk 3.179.124.000.000 3.636.654.000.000 4.467.741.000.000 41 Sat Nusapersada Tbk 26.628.621.441 42.604.080.969 8.511.223.397
Lampiran iv
2. Invested Capital
Perhitungan Invested Capital tahun 2006-2008 (dalam Rp) NO NAMA PERUSAHAAN INVESTED CAPITAL 2006 2007 2008 1 Aqua Golden Mississipi Tbk 721.848.894.518 811.887.701.167 919.005.554.679 2 Indofood Sukses Makmur Tbk 9.950.587.000.000 16.818.218.000.000 23.332.103.000.000 3 Mayora Indah Tbk 1.349.704.222.709 1.337.402.257.636 2.153.198.142.066 4 Bentoel International Investama Tbk 1.294.486.523.559 3.016.423.366.127 3,223,613,257,498 5 Gudang Garam Tbk 13.848.029.000.000 15.004.634.000.000 16.402.427.000.000 6 HM Sampoerna Tbk 2.001.711.000.000 9.467.857.000.000 8.491.612.000.000 7 Hanson International Tbk 244.418.451.614 102.734.226.235 (160.123.025.769) 8 Pan Brothers Tbk 150.608.908.858 247.943.844.929 252.260.715.837 9 Panasia Filament Inti Tbk 466.245.903.875 423.827.711.476 358.426.934.853 10 Indorama Synthetics Tbk 391.003.097 416.578.218 403.056.222 11 Primarindo Asia Tbk 4.140.649.516 13.533.996.686 (1.011.622.682) 12 Sepatu Bata Tbk 207.609.618.000 222.413.003.000 291.471.812.000 13 Barito Pasific Tbk 1.239.943.890.401 14.532.933 14.918.723 14 Daya Sakti Unggul
Corporation Tbk 85.034.531.514 39.843.560.247 (65.743.479.950) 15 Indah Kiat Pulp and
Paper Tbk
4.848.365.161 5.020.817.089 5.016.323.982 16 Budi Acid Jaya Tbk 705.024.000.000 1.073.194.000.000 1.018.033.000.000
17 Colorpak Indonesia Tbk 68.499.921.212 77.768.209.292 95.862.948.361 18 Aneka Kemasindo Utama Tbk 36.260.762.697 (12.231.320.211) 27.066.830.254 19 Asiaplast Industries Tbk 180.623.471.313 180.762.727.442 156.996.429.774 20 Semen Gresik (Persero) Tbk 6.036.336.492 7.069.353.156 8.510.864.235
Lampiran iv (lanjutan)
Sumber : Indonesian Capital Market Directory dan www.idx.co.id
21 Holcim Indonesia Tbk 6.210.028.000.000 6.109.867.000.000 6.531.524.000.000 22 Alumindo Light Metal
Industry Tbk 479.026.498.113 474.862.117.464 486.255.461.612 23 Citra Tubindo Tbk 90.478.146 101.056.621 104.958.726 24 Intan Wijaya Internasional Tbk 153.239.408.178 157.171.233.846 161.256.655.415 25 Ekadarma Internasional Tbk 60.277.333.081 63.760.171.889 93.733.279.882 26 Kedaung Indah Can
Tbk 94.449.766.156 73.166.279.469 77.658.796.039 27 Arwana Citramulia Tbk 319.549.462.131 442.249.018.367 472.813.734363 28 Keramika Indonesia Assosiasi Tbk (1.503.307.93.992) (1.574.691.905.528) 579.85.597.789
29 Sumi Indo Kabel Tbk 379.856.134.714 447.970.242.957 514.425.332.388 30 Voksel Electric Tbk 273.609.156.215 325.764.217.644 333.372.757.272 31 Astra Graphia Tbk 432.225.426.988 325.562.211.617 369.692.674.644 32 Multipolar Tbk 4.981.676.000.000 7.404.749.000.000 6.188.363.000.000 33 Metrodata Electronik Tbk 325.795.015.193 375.135.348.691 548.586.223.348 34 Astra Otoparts Tbk 2.292.646 2.695.401 3.108.131 35 Goodyear Indonesia Tbk 310.971.813 336.589.826 722.899.914 36 Indospring Tbk 248.680.026.865 266.784.510.108 282.863.243.181 37 Kalbe Farma Tbk 3.965.859.593.488 4.383.583.392.926 4.453.460.880.943 38 Kimia Farma (Persero) Tbk 908.553.642.826 953.175.126.735 995.814.851.450 39 Mustika Ratu Tbk 268.540.212.234 285.291.657.803 311.282.360.234 40 Unilever Indonesia Tbk 2.568.549.000.000 2.905.278.000.000 3.413.625.000.000 41 Sat Nusapersada Tbk 232.590.535.564 588.962.240.178 563.944.695.906
Lampiran v
3. Capital Charges
Perhitungan Capital Charges tahun 2006-2008 (dalam Rp) NO NAMA PERUSAHAAN CAPITAL CHARGES 2006 2007 2008 1 Aqua Golden Mississipi Tbk 44.028.287.262 59.723.259.479 75.063.611.306 2 Indofood Sukses Makmur Tbk (94.586.000.000) 152.575.000.000 (93.772.000.000) 3 Mayora Indah Tbk 105.707.540.539 121.403.696.255 198.578.692.436 4 Bentoel International Investama Tbk 55.975.684.153 113.630.683.854 42.484.054.820 5 Gudang Garam Tbk 116.319.000.000 626.560.000.000 794.388.000.000 6 HM Sampoerna Tbk 943.354.000.000 2.214.274.000.000 2.063.419.000.000 7 Hanson International Tbk (47.342.185.434) (34.363.050.179) 18.318.504.219 8 Pan Brothers Tbk 1.386.165.516 (1.708.099.032) 2.538.144.466 9 Panasia Filament Inti
Tbk (33.342.071.795) (50.695.600.985) 83.808.477 10 Indorama Synthetics Tbk 11.906.015 14.524.291 49.648.696 11 Karwell Indonesia Tbk (2.966.223) 836.360 (566.337) 12 Sepatu Bata Tbk 12.744.754.000 22.688.623.000 113.663.411.000 13 Barito Pasific Tbk 5.127.403.853 38.269 (2.941.357) 14 Daya Sakti Unggul
Corporation Tbk
244.833.505 (11.375.487) 27.099.263 15 Indah Kiat Pulp and
Paper Tbk
36.325.128 61.203.524 (16.806.468) 16 Budi Acid Jaya Tbk 15.649 33.357 19.765 17 Colorpak Indonesia Tbk 2.531.651.019 2.482.005.613 4.602.109.126 18 Aneka Kemasindo Utama Tbk 232.571.090 5.988.161 766.256.240 19 Asiaplast Industries Tbk 44.577.611 (2.807.178.928) (1.965.430.755) 20 Semen Gresik (Persero) Tbk 997.445.751 1.467.184.868 2.010.716.746 21 Holcim Indonesia Tbk 18.001.000.000 34.682.000.000 427,620.000.000 22 Alumindo Light Metal
Industry Tbk 15.875.547.145 (4.279.945703) (19.714.391.379) 23 Citra Tubindo Tbk 109.050 130.065 (509.032) 24 Intan Wijaya Internasional Tbk (4.198.904.866) 3.055.089.863 3.200.098.862
Lampiran v (lanjutan)
Sumber : Indonesian Capital Market Directory dan www.idx.co.id
25 Ekadarma
Internasional Tbk
4.654.359.608 3.116.851.184 1.487.247.625 26 Kedaung Indah Can
Tbk (12.531.215.630) 14.350.503.256 2.753.758.664 27 Arwana Citramulia Tbk 18.848.972.520 18.749.383.624 23.041.094.593 28 Keramika Indonesia Assosiasi Tbk (184.830604.202) 556.060.304 7.365.113.208 29 Sumi Indo Kabel
Tbk 28.836.398.931 59.747.749.961 1.060.422.919924 30 Voksel Electric Tbk 18.959.076.865 18.193.237.669 (5.755.680.774) 31 Astra Graphia Tbk 25.679.350.630 27.311.254.786 17.527.889.323 32 Multipolar Tbk 30.078.000.000 (225.170.000.000) (278.783.000.000) 33 Metrodata Electronik Tbk 10.705.933.330 10.367.930.604 20.099.157.545 34 Astra Otoparts Tbk (35.793.000.000) 325.793.000.000 420.106.000.000 35 Goodyear Indonesia Tbk 17.019.053 24.397.416 (2.379.685) 36 Indospring Tbk 1.465.203.693 (7.475.239.220) 3.120540.239 37 Kalbe Farma Tbk 499.484.619.497 539.574.166.316 499.078.723.145 38 Kimia Farma (Persero) Tbk 26.537.667.693 631.542.829 31.457351.208 39 Mustika Ratu Tbk 7.599.351.369 9.303.638.399 18.349.772.091 40 Unilever Indonesia Tbk 955.902.000.000 1.070.209.000.000 1.263.292.000.000 41 Sat Nusapersada Tbk 1.977.978.625 3.188.220.327 (2.829.222.371)
Lampiran vi
4. WACC
Perhitungan WACC tahun 2006-2008 (dalam %)
NO NAMA PERUSAHAAN WACC (%)
2006 2007 2008
1 Aqua Golden Mississipi Tbk 6.10 7.36 8.17 2 Indofood Sukses Makmur Tbk (0.95) 0.91 (0.40)
3 Mayora Indah Tbk 7.83 9.08 9.22
4 Bentoel International Investama Tbk 4.32 3.77 1.32
5 Gudang Garam Tbk 0.84 4.18 4.84
6 HM Sampoerna Tbk 47.13 23.39 24.30
7 Hanson International Tbk (19.37) (33.45) (11.44)
8 Pan Brothers Tbk 0.92 (0.69) 1.01
9 Panasia Filament Inti Tbk (7.15) (11.96) 0.02 10 Indorama Synthetics Tbk 3.04 3.49 12.32 11 Primarindo Asia Infrastruktur Tbk (0.07) 0.01 0.06
12 Sepatu Bata Tbk 6.14 10.20 39.00
13 Barito Pasific Tbk 0.41 0.26 (19.72) 14 Daya Sakti Unggul Corporation Tbk 0.29 (0.03) (0.04) 15 Indah Kiat Pulp and Paper Tbk 0.75 1.22 (0.34)
16 Budi Acid Jaya Tbk 2.22 3.11
1.94 17 Colorpak Indonesia Tbk 3.70 3.19 4.80 18 Aneka Kemasindo Utama Tbk 0.64 (0.05) 2.83 19 Asiaplast Industries Tbk 0.02 (1.55) (1.25) 20 Semen Gresik (Persero) Tbk 16.52 20.75 23.63 21 Holcim Indonesia Tbk 0.29 0.57 6.55 22 Alumindo Light Metal Industry Tbk 3.31 (0.90) (4.05)
23 Citra Tubindo Tbk 0.12 0.13 (0.48)
24 Intan Wijaya Internasional Tbk (2.74) 1.94 2.42 25 Ekadarma Internasional Tbk 7.72 4.89 1.59 26 Kedaung Indah Can Tbk (13.27) 19.61 3.55 27 Arwana Citramulia Tbk 5.90 4.24 4.87 28 Keramika Indonesia Assosiasi Tbk 12.29 (0.04) 1.27
29 Sumi Indo Kabel Tbk 7.59 13.34 20.61
30 Voksel Electric Tbk 6.93 5.58 (1.73) 31 Astra Graphia Tbk 5.94 8.39 4.74 32 Multipolar Tbk 0.60 (3.04) (4.50) 33 Metrodata Electronik Tbk 3.29 2.76 3.66 34 Astra Otoparts Tbk (1.56) 12.09 13.52 35 Goodyear Indonesia Tbk 5.47 7.25 (0.33)
Lampiran vi (lanjutan)
Sumber : Indonesian Capital Market Directory dan www.idx.co.id
36 Indospring Tbk 0.59 (2.80) 1.10
37 Kalbe Farma Tbk 12.59 12.31 11.21 38 Kimia Farma (Persero) Tbk 2.92 0.07 3.16
39 Mustika Ratu Tbk 2.83 3.26
5.89 40 Unilever Indonesia Tbk 37.22 36.84 37.01 41 Sat Nusapersada Tbk 0.85 0.54 (0.50)
Lampiran vii
Perhitungan EVA tahun 2006-2008 (dalam Rp) NO NAMA PERUSAHAAN EVA 2006 2007 2008 1 Aqua Golden Mississipi Tbk 11.111.460.001 (3.405.750.690) 54.759.356.837 2 Indofood Sukses Makmur Tbk 2.538.376.000.000 3.420.707.000.000 5.236.80.000.000 3 Mayora Indah Tbk 21.362.386.432 54.099.421.113 74.360.730.817 4 Bentoel International Investama Tbk 111.567.146.549 267.855.755.907 372.695.185.061 5 Gudang Garam Tbk 2.667.948.000.000 2.661.009.000.000 3.147.099.000.000 6 HM Sampoerna Tbk 4.230.141.000.000 1.650.773.000.000 2.261.645.000.000 7 Hanson International Tbk -28.786.881.358 (34.107.641.716) (20.899.121.761) 8 Pan Brothers Tbk 27.757.378.003 56.068.555.228 56.837.810.271 9 Panasia Filament Inti
Tbk -48.483.677.910 (33.076.404.637) (84.009.263.240) 10 Indorama Synthetics Tbk -6.162.306 (2.672.262) (48.830.882) 11 Primarindo Infrastruktur Tbk 6.673.503.081 6.370.501.799 703.265.867 12 Sepatu Bata Tbk 11.308.535.000 19.644.269.000 (128.751.787.000) 13 Barito Pasific Tbk -188.687.733.505 (76.635.000.000) 455.180.000.000 14 Daya Sakti Unggul
Corporation Tbk
-9.666.408.526 (18.619.970.573) (45.567.560.446) 15 Indah Kiat Pulp and
Paper Tbk
229.927.610 183.092.182 170.325.591 16 Budi Acid Jaya Tbk 82.136.000.000 139.195.000.000 126.776.000.000 17 Colorpak Indonesia Tbk 16.042.490.231 20.300.650.602 38.226.434.931 18 Aneka Kemasindo Utama Tbk -67.057.505 1.401.208.049 (12.656.973.334) 19 Asiaplast Industries Tbk 4.361.296.562 11.403.925.361 28.051.114.352 20 Semen Gresik (Persero) Tbk 235.590.465 162.988.355 330.900.506 21 Holcim Indonesia Tbk 53.300.000.000 502.873.000.000 579.831.000.000 22 Alumindo Light Metal Industry Tbk 122.211.938.663 89.130.754.945 135.604.005.492 23 Citra Tubindo Tbk 18.995.701 17.596.764 20.372.234
Lampiran vii (lanjutan)
Sumber : Indonesian Capital Market Directory dan www.idx.co.id
27 Arwana Citramulia Tbk 29.632.076.874 58.096.209.598 67.683.711.129 28 Keramika Indonesia Assosiasi Tbk 186.242.525.290 29.420.446.850 27.880.477.917 29 Sumi Indo Kabel Tbk 34.650.469.069 22.291.476.636 (955988.952.781) 30 Voksel Electric Tbk 38.340.198.006 100.357.674.320 151.617.249.753 31 Astra Graphia Tbk 432.253.175 90.943.666.278 109.815.269.208 32 Multipolar Tbk 449.196.000.000 2.951.688.000.000 3.452.238.000.000 33 Metrodata Electronik Tbk 29.887.579.712 70.216.120.653 184.372.989.790 34 Astra Otoparts Tbk 293.854 149.838 193.650 35 Goodyear Indonesia Tbk 29.708.083 52.973.039 51.577.231 36 Indospring Tbk -7.824.748.711 78.152.400.355 187.933.828.179 37 Kalbe Farma Tbk 897.510.764.394 936.800.373.384 996.150.897.973 38 Kimia Farma (Persero) Tbk 19.752.736.621 46.587.682.961 34.867.136.146 39 Mustika Ratu Tbk 5.979.353.146 12.955.661.340 16.499.888.972 40 Unilever Indonesia Tbk 2.223.222.000.000 2.566.445.000.000 3.204.449.000.000 41 Sat Nusapersada Tbk 24.650.642.816 39.415.860.642 11.340.445.768
Lampiran viii Output SPSS Tahun 2006 Correlations Return On Asset Economic Value Added
Return On Asset Pearson Correlation 1 .055
Sig. (2-tailed) .732 N 41 41 Economic Value Added Pearson Correlation .055 1 Sig. (2-tailed) .732 N 41 41
**. Correlation is significant at the 0.01 level (2-tailed).
Tahun 2007 Correlations Return On Asset Economic Value Added
Return On Asset Pearson Correlation 1 -.036 Sig. (2-tailed) .823 N 41 41 Economic Value Added Pearson Correlation -.036 1 Sig. (2-tailed) .823 N 41 41
Lampiran viii (lanjutan)
Tahun 2008 Correlations Return On Asset Economic Value Added
Return On Asset Pearson Correlation 1 .413**
Sig. (2-tailed) .587 N 41 41 Economic Value Added Pearson Correlation .413** 1 Sig. (2-tailed) .587 N 4 4
