Market Value

Valuation for evidence of value

2011-10-01T20:29:00.000-07:00

Valuation for evidence of value

AVO Ref. Number

Purpose

Property Address

Local Government Area

Legal Description

Zoning

Land Area

Floor Area

Owner’s Name

Description of Land

Description of Improvements

Date of Inspection:

Date of Valuation

Sales Evidence

Analysis

Estimated Market Value

Name of Valuer Incl. Qualifications.

Photograph

We, the undersigned, do hereby certify that to the best of our knowledge, ability and beliefs, the statement contained in this report, upon which the analysis, opinion and conclusion expressed herein are based, are true and correct. This report sets forth all the limiting conditioning affecting the analysis, opinion and conclusions contained herein. This report has been made in conformity with and is subject to the Code of Ethic requirements of Association of Indonesia Appraisal Companies, Indonesian Society of Appraiser, Standard Penilaian Indonesia (SPI) and Kode Etik Penilaian Indonesia (KEPI).

Market Value: is the estimated amount for which a property should exchange on the date valuation between a willing buyer and a willing seller in an arm’s-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion.

Highest and Best Use (HABU): The most probable use of a property, which is physically possible, appropriately justified, legally permissible, financially feasible, and which result in the highest value of the property being valued

valuation@marketvaluer.com

Identifikasi dan parameter penilaian fasilitas bangunan tinggi

2011-04-24T04:27:00.000-07:00

Lift (elevator):(termasuk dalam katagori elevator ini adalah lif penumpang, lift barang dan lift kebakaran) 1) Kepadatan hunian setiap lantai dan bangunan keseluruhan, 2) Faktor jumlah pengguna, 3) Jumlah lantai yang dilayani, 4) Pembagian zona,5) Waktu puncak 6) Kapasitas, ukuran kereta dan lebar pintu elevator, 7) Minute Handling Capacity, 8) Waktu tunggu (waiting time) maksimum yang dipilih, 9) Waktu tempuh maksimum dan lantai dasar/lobby utama sampai lantai teratas untuk lift kebakaran.

Eskalator: 1) Kepadatan hunian lantai-lantai yang akan dilayani, 2) faktor jumlah pengguna, 3) Pembagian zona, 4) Kapasitas 5) Lebar, tinggi tempuh dan sudut kemiringan tangga, 6) Kecepatan, 7) Pengaturan gerak (naik turunnya) eskalator.

Lantai jalan: 1) Kepadatan hunian lantai-lantai yang akan dilayani, 2) faktor jumlah pengguna, 3) Pembagian zona, 4) Kapasitas, 5) Lebar, tinggi tempuh dan sudut kemiringan tangga, 6) Kecepatan, 7) Pengaturan gerak (naik turunnya) eskalator.

Lift Pelayanan (dumbwaiters): 1) Beban pelayanan, 2) Jumlah lantai yang dilayani; 3) Kapasitas, ukuran kereta dan lebar pintu dumbwaiter, 4) Waktu tunggu (waiting time) yang dipilih, 5) Waktu tempuh maksimum.

Gondola: 1) Tinggi bagian gedung yang dilayani, 2) Keliling gedung, 3) Luas dan jenis permukaan kulit luar gedung/bangunan (kaca/alumunium/ granit dan lain-lain) yang dilayani, 4) Sistem operasi (lama, peralatan dan jumlah operator), 5) Sistem gondola, penggantung dan penyangga, dan sistem penggerak, 6) Sistem pengaman.

Data penting yang harus diperoleh dalam proses identifikasi adalah: Nama mesin; Merk, nama pembuat dan Negara asal; Jenis, model dan type mesin; Tahun pembuatan dan nomor seri; Spesifikasi teknis, seperti : kapasitas kerja, ukuran produk, ukuran fisik mesin, daya kerja, kecepatan dll; Sistem dasar kerja mesin; Kelengkapan peralatan; Kondisi umum. Data Tenaga Penggerak: Jenis dan spesifikasi tenaga penggerak;Sistem penyaluran tenaga/transmisi;Kelengkapan;-Kondisi umum. Data Instalasi dan Pondasi:Kelengkapan instalasi;Jenis pondasi;Kondisi umum Data Lain-lain: Modifikasi; Perawatan; Ketersediaan suku cadang; Hal-hal khusus lainnya

Anda butuh penilai gedung seperti perkantor, hotel. apartememen? ingat kjpp pangaloan atau www.marketvaluer.com

Kjpp pangaloan commitment

2010-12-14T15:07:00.000-08:00

my Kjpp hope Vision, conception and its commitment to develop research and study in a comprehensive property industry, is the secret behind the tested good business monitor Indonesia's unique properties for a decade. As local valuer companies are visionary pioneers, leaders of the market development, business and industry healthy Indonesian property, solid, and steady in Asia on the basis of efficiency, through integrated property services.

Our asset is human resources professional with a passionate curiosity that never vanished on the market, business and property industry and the spirit that never faded face challenges to get a solution. Ethics, personal integrity, sharpness of dexterity, entrepreneurial spirit and their responsibilities within the company professionals an added value of our company. What distinguishes us from other consultants is the ability of human resources, with: Deep and thorough understanding of the history and development of Indonesian property market. Analysis up to date on the property industry from the perspective of macro and micro. Mastery of the various information flow of business sectors related to the property.

Laboratory properties periodically review and generate predict property market trends 5 years. Property library with a collection of thousands of text-books and seminars file properties inside and outside the country. Correspondence with various experts and consultants from various countries. Although relatively young age of the company, but the company's experts have extensive experience, diverse and adequate. More than one hundred small-scale projects and large scale in various cities in Indonesia, we have signed with satisfactory results.

realted:

Mine valuation in Indonesia needs and strategic

Try Chitika publisher

2010-11-28T01:03:00.000-08:00

This is a relatively decent publisher, instead of yahoo publisher of chitika.com. In my opinion it never hurts to try.

There can also do referral ... if you want please download here.

You try to list quickly, hopefully meets these demands and lucky and happy to join this program.

Pegelolaan air dan tanah

2010-09-27T15:39:00.000-07:00

Sawah: Sawah adalah Lahan usahatani yang secara fisik permukaan tanahnya rata, dibatasi oleh pematang, sehingga dapat ditanami padi dengan system genangan dan palawija / tanaman pangan lainnya. Sawah Irigasi: Sawah irigasi adalah sawah yang sumber air utamanya berasal dari air irigasi baik irigasi teknis, irigasi setengah teknis, maupun irigasi desa. Sawah Irigasi Teknis: Adalah sawah yang memperoleh pengairan dimana saluran pemberi terpisah dari saluran pembuang agar penyediaan dan pembagian irigasi dapat sepenuhnya diatur dan diukur dengan mudah. Jaringan seperti ini biasanya terdiri dari saluran induk, sekunder dan tersier. Saluran induk, sekunder serta bangunannya dibangun, dikuasai dan dipelihara oleh Pemerintah. Sawah Irigasi Setengah Teknis: Adalah sawah berpengairan teknis akan tetapi pemerintah hanya menguasai bangunan penyadap untuk dapat mengatur dan mengukur pemasukan air, sedangkan jaringan selanjutnya tidak diukur dan dikuasai pemerintah. Sawah Irigasi Sederhana: Adalah sawah yang memperoleh pengairan dimana cara pembagian dan pembuangan airnya belum teratur,walaupun pemerintah sudah ikut membangun sebagian dari jaringan tersebut (misalnya biaya membuat bendungannya). Sawah Tadah Hujan: Adalah sawah yang sumber air utamanya berasal dari curah hujan. Sawah Sistim Surjan: Adalah sawah yang sumber air utamanya berasal dari air irigasi atau air reklamasi rawa pasang surut dan bukan pasang surut (lebak) dengan sistim tanam padi dan palawija / hortikultura yang ditanam pada tabukan dan guludan. Sawah Pasang Surut: Adalah sawah yang pengairannya tergantung pada air sungai yang dipengaruhi oleh pasang surutnya air laut.

Sawah Reklamasi Rawa Pasang Surut: Adalah sawah yang sumber air utamanya berasal dari reklamasi rawapasang surut.

Sawah Reklamasi Rawa Bukan Pasang Surut (Lebak): Adalah sawah yang sumber air utamanya berasal dari reklamasi rawa bukan pasang surut (lebak).

Sawah Lainnya: Seperti lahan sawah lebak, polder, dan rawa-rawa yang ditanami padi atau rembesan dan lain-lain.

Tegalan/Tanah Darat Ringan: Adalah sebidang tanah yang diusahakan/dimanfaatkan untuk pertanian lahan kering antara lain padi gogo dan palawija.

Tegalan/Tanah Darat Berat: Adalah sebidang tanah yang ditumbuhi/tertutup oleh tumbuhan perdu atau nipah termasuk pohon-pohon / tunggul.

Semak/Alang-alang: Semak/alang-alang merupakan tanah yang tertutup oleh tumbuhan semak belukar dan rumput alang-alang.

Lahan untuk Bangunan dan Halaman Sekitarnya: Adalah lahan yang terdapat di sekitar bangunan dan biasanya diberi pagar atau batas tanpa memperhatikan ditanami atau tidak. Bila lahan sekitar rumah tersebut tidak jelas batas-batasnya dengan kebun/tegal, dimasukkankedalam lahan kebun/tegal.

Tegal/kebun/ladang/huma: Adalah lahan kering yang ditanami tanaman musiman seperti padi ladang, palawija/hortikultura dan letaknnya terpisah dengan halaman sekitar rumah.

Lahan Pertanian Sementara Tidak Diusahakan: Lahan pertanian sementara tidak diusahakan disebabkan oleh factor pembatas daya dukung lahan dan kelengkapan/kondisi infrastruktur pertanian, sehingga kondisinya ditumbuhi alang-alang dan semak belukar.

Lahan Kritis: Adalah lahan yang sudah tidak produktif lagi kondisinya tidak memungkinkan lagi untuk diusahakan sebagai lahan pertanian, kecuali bila ada upaya rehabilitasi terlebih dahulu.

Lahan Potensial Kritis: Adalah lahan yang masih produktif bila diusahakan untuk pertanian

tanaman pangan. Namun demikian bila pengelolaan lahan yang diterapkan tidak didasarkan pada kaidah-kaidah konservasi tanah dan air, maka lahan akan rusak dan cenderung menjadi lahan semi kritis atau bahkan lahan kritis.

Optimasi Lahan: Adalah usaha meningkatkan pemanfaatan sumber daya lahan yang sementara tidak diusahakan atau IP rendah menjadi lahan usahatani yang lebih produktif, melalui perbaikan fisik dan kimiawi tanah serta sarana dan prasarana lainnya dalam menunjang peningkatan areal tanam dan atau indeks pertanaman (IP). Pelaksanaan fisik meliputi pembersihan lahan dan pengolahan lahan sampai kondisi siap tanam, perbaikan kesuburan lahan, perbaikan sarana dan prasarana serta pemeliharaan.

Konservasi Lahan: Adalah usaha pemanfaatan lahan dalam usahatani dengan memperhatikan kelas kemampuannya dan dengan menerapkan kaidah-kaidah konservasi tanah agar lahan dapat digunakan secara lestari.

Reklamasi Lahan: Adalah suatu upaya pemanfaatan perbaikan dan peningkatan kesuburan lahan pertanian kurang produktif baik yang rusak secara alami maupun pengaruh manusia melalui penerapan teknologi dan pemberdayaan masyarakat.

sumber: http://pla.deptan.go.id

Domino ink jet for Tobacco Industrial

2010-09-07T21:02:00.000-07:00

The Strong Product:

Laser Coding – ideal for pack, carton & bundle coding

Ink Jet Coding – ideal for pack, carton & bundle coding

Thermal Transfer Coding – ideal for RYO pouches or Soft Packs

Domino coding technologies – flexible, reliable, accurate, output

Master Case Coding – ideal for traceability and decoration

Domino recognizes that illicit trade is a serious global issue for the Tobacco industry. We will always Endeavour to protect the integrity of genuine companies operating in the Tobacco sector by consciously avoiding any dealings with illicit operators in this, or any other industry.

Domino ink jet – ideal for pack, carton & bundle coding

Domino’s range of high speed scribing lasers is flexible enough to be applied to most packaging types, whilst providing minimum downtime and lower running costs. Many features of the Domino laser coding range bring distinct advantages to tobacco manufacturers: Superior code quality (supporting a range of languages including Arabic, Asian and European character sets); Permanent, durable codes onto a wide range of substrates; No solvents or inks.

Ink Jet Coding – ideal for pack, carton & bundle coding

Domino’s ink jet printing technology makes managing coding and marking simple, reliable and cost effective. In addition, one-button start-stop technology from Domino enables you to accomplish changeovers and accommodate stoppages with minimum operator intervention. Automatic self-cleaning print head reduces operator intervention; Easy fit sealed cartridges for replenishment so no spilt fluids; Print height down to 1mm; Small print head for easy integration

Thermal Transfer Coding – ideal for RYO pouches or Soft Packs

Domino’s thermal transfer printer gives superb print quality onto web packaging processes. Easy onboard label creation software and multiple message storage enables quick and simple changeover; Industry’s largest ribbon roll capacity ensures fewer changeovers; Ribbon retraction and economy functions extend effective ribbon length, further reducing changeovers; 300dpi print head produces sharp high quality text, bar codes, logos and Data Matrix codes.

Print and Apply labeling – ideal for cartons/bundles, master cases and pallets

The Domino range of print and apply labelers offers a fully modular solution to meet the many and varying needs of manufacturers today. Consisting of printers, applicators and accessories the standard configurations offer a solution for a vast range of print and apply requirements. Seamless integration into production lines ensures line efficiency; Labels can be applied to both moving and stationary products; Simple label selection ensures operator independence; High resolution printing of bar codes, text and graphics ensures supply chain compliance

Domino coding technologies – flexible, reliable, accurate, output

Variety of coding solutions including ink jet, laser, thermal transfer, outer case coding and print and apply labeling; Engineered solutions for extensive range of packers, cartoners and bundlers; High reliability and consistent code quality; Constantly variable data–real time capability including batch codes, expiry dates, sequential and unique numbering; Data Matrix codes and special inks for anti-counterfeit solutions; Ability to engineer be-spoke solutions for specific Tobacco industry requirements; All products are easily networked and remotely managed, allowing production reporting and factory wide monitoring capabilities which increase overall control. Strong links with sector OEMs ensures rapid, smooth integration with production lines; Track & Trace solutions as advocated by the FCTC

Master Case Coding – ideal for traceability and decoration

Domino’s master case coding enables you to print alphanumeric codes through to full decoration on final packaging. Customized information printed exactly to your requirements saves on the cost of pre-printed master cases or labeling, and offers improved inventory management and reduced waste. Compact and easily integrated into existing production facilities; Eliminates hold ups-products are coded as they are packed; Reduced operator intervention with large volume ink system reducing frequency of consumable changes; Supply chain compliant bar codes

For more information www.domino-printing.com

Term in the battery industry

2010-08-31T15:58:00.000-07:00

Ball Mill Process - Lead pigs, or ingots are charged with air into a ball mill. Frictional head generated by the tumbling lead ingots initiates and oxidation reaction. Oxygen in the air, assisted by the heat of the tumbling lead, reacts with the lead to produce lead oxide. During milling, the lead oxide that forms on the surface of the ingots and fine particles of un-oxidized lead are broken off, forming a fine dust that is removed from the mill by a circulating air stream. Centrifugal mills and cyclones are used to collect large particles, while the finer particles are collected in a baghouse.

Barton-Like Process - Produces lead oxide. Lead ingots are first melted and then fed into a vessel or pot, where the molten lead is rapidly stirred and atomized into small droplets. The droplets of molten lead are then oxidized by air drawn through the pot and conveyed to a product recovery system which typically consists of a settling chamber, cyclone, and baghouse.
Baghouse - The structure housing the bags of tubular or envelope-shaped fabric filter, used for the high-efficiency collection of solid particulate (that is, dust and fumes) from a contaminated air stream or gas stream.
Charging location - The physical opening through which raw materials are introduced into a lead pot.
Dross - A scum formed on the surface of molten metal. Dross refers to the lead oxides, copper, antimony, and other elements that float to the top of the molten lead.
Dry Charge (Open Tank) Formation - In the formation process, the first step, called tacking consists of plates being placed in a tank and lead bars being welded, or "tacked" on. Battery plates are then formed (or charged) in tanks. Once the plates are removed they are dried. Positive plates are dried in re-circulating, hot-air ovens while the negative plates are placed in special ovens to avoid oxidizing and discharging.
Enclosure hood - A hood that covers a process fugitive emission source on the top and on all sides, with openings only for access to introduce or remove materials to or from the source and through which an induced flow of air is ventilated.
Enveloping and Wrapping - Enveloping consists of placing a plate (usually positive) within a porous membrane. The membrane is folded over the bottom of the plate and sealed by pressure, heat, or ultrasonic means on two sides, usually by an automatic machine. Industrial battery plates can also be hand-wrapped.
Fugitive Dust Source - A stationary source of hazardous air pollutant emissions at a battery manufacturing plant resulting from the handling, storage, transfer, or other management of lead-bearing materials where the source is not associated with a specific process or process fugitive vent or stack. Fugitive dust sources include, but are not limited to, roadways, dried paste, handling oxide, and paste mixing.
Grid Casting - Pigs of hard lead (antimonial lead) are melted and the molten lead is poured into grid molds. The grids are then cooled, trimmed, inspected, and stacked. The grids are then transported to the pasting area.
Group Burning - After the positive and negative plates and separator material have been stacked they are joined with small connecting parts and burned together to form cell elements or groups. This operation is conducted either manually at a burning station or by using an automatic cast-on-strap (COS) machine. The burning station is a fixture that holds the plates in the elements while the positive and negative plates are joined. Small parts, which will become intercell connectors or posts, are placed in the fixture, then bonded by melting lead bars with a hand-held torch.
Hydrosetting - Hydrosetting is the reaction between free lead particles in plates and sulfuric acid. It normally takes place over a period of 48 to 72 hours. Hydrosetting methods vary between battery plants, ranging from placing the pasted plates on racks or pallets in the workroom to placing the racks within a temperature- and humidity-controlled room or chamber.
Intercell Welding and Post Burning - After the groups have been placed in the battery case, the straps are fused together using a torch or high electrical power source. The units are then tested and the posts are attached. Post or terminal burning involves using lead, a torch, and a mold. Lead is either dipped from a molten bath or is applied by melting lead bars into a mold cavity. The mold cavity is created by using a metal cover plate, called a burning dam, which is placed on the top of the battery prior to torching. This process can also be done with through the partition (TTP) using a case that has been punched and then the connections are welded.
Parts Casting - Small parts, including battery terminal posts, straps, connectors, and lead burning bars, are cast in a manner similar to grids.
Paste Mixing - During the paste-mixing process, lead oxide and water are blended in a mixer to form a thick paste. Diluted sulfuric acid is then added slowly with constant mixing and cooling until the desired paste consistency and density are attained. The sulfuric acid forms lead sulfate, which in addition to expanding the past and giving it greater porosity, supplies necessary binding cement so that the dry plate can be handled without the loss of significant amounts of material.
Pasting - During the pasting process, lead oxide paste is applied to the grid panels in a pasting machine to fill the spaces of the grid. The plates (pasted grids) are then rolled to a given thickness and flash dried to remove surface moisture. Workers remove the partially dried plates from the conveyer and place them on pallets or in racks.
Parting - Grids are commonly produced and pasted as pairs called pasted plates or panels. They must then be separated before the battery can be assembled. This plate breaking or parting may be performed manually, by saw, or by a parting machine. It can occur after flash drying, after curing but before plate burning, or, in the case of dry-charge battery manufacture, following the plate formation process (forming, washing, and drying).
Stacking - After curing, the plates are stacked either by hand or machine so that positive and negative plates alternate with an insulating separator in between. If an enveloper is used, no separator is required at stacking. Teams of workers often hand stack and group burn at the same station. In other plants, the stations are separate.
Wet (Case) Formation - The assembled battery is filled with acid and charged.

Source: http://www.osha.gov/

Other Scope of Valuation from KJPP Pangaloan

2009-12-29T03:34:00.000-08:00

Other Scope of Valuation from KJPP Pangaloan has moved to :

www.marketvaluer.com, click here

The Competitors Sabang Port

2009-12-05T18:35:00.000-08:00

SThe Competitors Sabang Port has moved to www.marketvaluer.com, click here

Istilah penilaian properti

2009-11-20T07:53:00.000-08:00

Istilah penilaian properti telah pindah ke www.marketvaluer.com, click here

Beli Perkebunan Kelapa Sawit dibutuhkan penilai publik

2009-10-19T06:03:00.000-07:00

Pada masa kini, kemungkinan kebun kelapa sawit marak diperdagangkan di Indonesia, Calon pembeli kebanyakan dari luar negeri, ya mereka lewat pembelian saham di Bursa. Misalnya di Bursa Efek Jakarta, Atau bursa lainnya.

Diperkirakan Pada akhir tahun ini, sampai dengan juni 2010, transaksi perkebunan kelapa sawit kemungkinan akan semakin marak. Di sisi penjual, memang mereka kesulitan cashflow: untuk memenuhi biaya perawatan kebun, harga pupuk yang tetap tinggi, biaya overhead yang naik kemungkinan 10-15%, sehingga para pengusaha berusaha menjual asetnya atau perusahaannya. Atau malah mereka akan beralih bisnis utamanya, karena menurut pandangan mereka, harga Tandan Buah Segar (TBS) Rp. 1.800,- s/d 2.300,- per kg seperti pertengahan tahun 2008, akan sulit dicapai pada lima sampai yang akan datang. Apakah memang demikian? Hal ini membutuhkan analisis persaingan dan kebutuhan CPO di masa yang akan datang.

Sementara itu, di sisi Investor, Mereka mengantisipasi akan kebutuhan CPO yang cukup tinggi pada lima tahun mendatang. Tandan Buah Segar (TBS) yang merupakan bahan baku CPO adalah sumber daya yang dapat diperbaharui dan sifatnya akan habis (merupakan kebutuhan, consumer goods). Bila diamati akan kenaikan harga Minyak dunia, bukan tidak mungkin permintaan CPO akan meningkat dan harganya akan lumayan membaik (ini perlu kajian dan analisis lebih lanjut)

Menurut pendapat saya: Kemungkinan Investor asing, akan melirik bisnis perkebunan kelapa sawit semakin kuat. Terutama pada tanaman kelapa sawit yang sudah menghasilkan (TM) anatara 6-10 tahun. Selain kebutuhan dalam negeri indonesia yang semakin meningkat, kebutuhan akan duniapun meningkat. Dan perusahaan yang akan membeli adalah dengan ciri, memiliki dana yang cukup tinggi saat ini, namun usaha bisnis utamanya sedikit mengalami penurunan (akibat efek bisnis globalisasi), sehingga mereka akan mengalihkan sebagian dananya untuk melakukan pembelian perkebunan kelapa sawit.

Jangan lupa agar pembeli Lahan kelapa sawit perlu menggunakan konsultan independen, misalnya penilai perkebunan/properti dan konsultan hukum dalam melakukan pemeriksaan atas aset kebun yang akan di beli. Karena permasalahan sosial terutama penguasaan lahan perlu mendapat perhatian. Jadi, beli Perkebunan Kelapa Sawit membutuhkan penilai publik, misalnya penilai properti/kebun terdaftar di Bapepam atau Depkeu

Seperti yang saya sampaikan sebelumnya, Dalam tulisan saya, ” Bisnis perkebunan kelapa sawit masih menjanjikan” dalam: http://marketvaluer.blogspot.com/2009/09/bisnis-perkebunan-kelapa-sawit-masih.html

Catatan: Pendapat dan tulisan ini, hanya berdasarkan pengamatan saya sebagai penulis di blog ini, semoga para pembaca mendapat tambahan informasi).

some notes investment prospects Indonesia

2009-10-17T17:12:00.000-07:00

Indonesia's economic prospects in the next five years is expected to recover in line with the global economic recovery in the past few days. Prospects of Indonesia's economy is also determined by the future government policies, particularly in infrastructure and a supportive investment climate. World Bank estimates that Indonesia's economic growth in 2009 will reach 4.3 percent. Year growth in 2010 is estimated to increase to 5.4 percent and by 2011 will reach 6 percent to 6.5 percent. The main drivers of growth in Indonesia in 2009 is estimated to come from domestic demand, and the global economic recovery. The next year, growth will have accelerated again supported by strong investment, and ease the credit acquisition and increased investor confidence than this year. 2011 years, estimated the world economy began to approach levels more normal growth that encourages economic growth in Indonesia to achieve an annual 6 percent to 6.5 percent.

German businessmen interested to invest in Indonesia in bio energy development efforts more emphasis on environmentally friendly industry. 90 years of German had been in a position to third with a total investment of 1.3 billion dollars. German investment prospects in Indonesia is very good because Germany has a high technology that can be used by Indonesia. Foreign Direct Investment (FDI) Index position in 2007 Indonesia ranked top 21 in Poland, Central Asia, South Korea and the Czech Republic. Foreign investment in Indonesia rose 73.19 percent from 5.97 billion U.S. dollars in 2006 to 10.34 billion U.S. dollars in 2007. While domestic investment rose 67.80 percent from 2.31 billion U.S. dollars to 3.87 billion U.S. dollars. Realized investment January-June 2008 amounted to 11.32 billion U.S. dollars, rose by 56.2 percent. He said the overall economic performance in the first half of 2008 showed growth of 6.4 percent the highest number since the crisis. Meanwhile, foreign exchange reserves today are the highest level in the history of Indonesia, which reached 60 billion U.S. dollars.

Saudi Arabian Telecom Investment in Indonesia worth one billion U.S. dollars in the field of mobile phone operators will trigger investment from countries in other Middle East to Indonesia. This investment is expected to continue to grow so trigger-state investments other Middle Eastern countries for troop coming to Indonesia. With the phone tariff of Rp 60 per minute and Rp. 600 to other operators, it can be more competitive. As for tariff brief counter messages (SMS) rates are also determined to Rp 60. With Base Transceiver (BTS) reached 3,700 units, will reach all areas in Indonesia

PT Manulife Aset Manajemen Indonesia (MAMI) targeted to obtain funds under management Rp. 100 billion this year on launching Sectoral Amanah Syariah Mutual Fund. In his press conference in Jakarta, said that until now the company has funds under management reached Rp. 17 trillion. Of that amount, Rp. 4.5 trillion of mutual funds and the rest is discreation fund (investment management financial management). This year the company expected the funds under management will grow about 20 to 25 percent, including the launch of this Islamic mutual funds. The purpose of this fund into stocks, particularly shares in accordance with Islamic principles and the company that owns both the Indonesia Stock Exchange (IDX), have a good performance prospects in Indonesia and the global economy and have long-term investment performance.

Source: http://www.kompas[dot]com

Indonesia tourism options

2009-10-10T17:17:00.000-07:00

Indonesia tourism options. Indonesia is a rich country. Not only rich in natural resources, but also rich in the variety of cultural and natural scenery. However, much natural beauty and unique traditions that have not been unpublished Indonesia widely internationally. Shareholders targets 6.5 million tourists will visit in 2009 in the framework of Visit Indonesia Year. Currently, tourists to Indonesia had 4 million more people.

Makassar Losari icon Visit the town with the first ranking of tourist visits during 2009. "Within the city of Makassar in 2009's destinations (goals) of the foreign tourists and the archipelago. With the number of visitors who stop at Makassar around 6,000 people. With that amount, he added, was ranked one of Makassar in Indonesia, with percentages around 65 percent followed by the city of Minangkabau in second place with 63 percent followed by the percentage of Kuantan with 56 persen.Kita expect the Government to Makassar city known as 'Anging Mammiri' can be a world city. According to him, Makassar is also a charming town has a tourist destination than Losari Beach pavilion. Among other Fort Fort Rotterdam in the middle of the city and a symbol of Dutch colonial heritage in the sixteenth century. Losari Beach pavilion addition we have the Fort Fort Rotterdam, the port Paotere, the tomb of Joseph and Trans Syech studio became a magnet for foreign tourists is the biggest indoor theme park in world.

The arrival of foreign tourists to Bali during the January-Augusts 2009 recorded 1,464,738 people or 12.8 percent increase compared to same period in 2008 recorded 1,296,046 people. That means the international community that comes directly from his country to the island resort is not affected terrorism in Indonesia. To all the tourists who will visit the island of Bali to always use the hotel services which have safety certificates and safety standardization or use the "travel agent" is authorized, and if you can use the hotel stay certified.

Lake Toba party will feature a variety of cultural attractions, in addition will also hold a variety of traditional sports event. In this scene will appear, among others, performances of traditional dance and costumes, special dance performances of dance Batak tor-mentor and a number of races, such as fishing and swimming competitions in Lake Toba. Vocal competition bringing a group with local songs and many other activities, including the appearance of a number of cultural attractions other regions outside of North Sumatra, which in turn was expected to attract tourists to attend. May First to Exciting Lake Toba, North Sumatra Tourism in an effort to improve the regional economy "was designed to highlight local culture and empowerment of local economic potential that will benefit the local community welfare

World Association of Valuation Organisations (WAVO)

2009-09-29T16:26:00.000-07:00

WAVO (World Association of Valuation Organisations)

World Association of Valuation Organisations (WAVO) is a body which brings together professional property valuation organisations that represent valuers and related property consultants employed in private practice, business and industry, the public sector, and education, as well as some specialized groups that interface frequently with the profession. Member country associations include SISV (Singapore), API (Australia), AIC (Canada), ANEVAR (Romania), AI (United States), CAS (China), CIREA (China), CNG (Italy), HKIS (Hong Kong), KAB (Korea), PINZ (New Zealand), RERA (Dubai), RICS (United Kingdom), IACVA (Canada), IGAV (India), KAPA (Korea) and VVA (Vietnam).

WAVO is establishing a business valuation network. Any practising valuer and appraiser as well as valuation instructor who is keen to discuss with each other on business valuation is welcome to participate.If you interest in other network, for example, specialised valuation, plant & machinery valuation, etc. please feel free to contact us. Contact: info@wavoglobal.org

Publications – Articles in WAVO

Settling rental (and other retail lease) disputes by Expert Determination - Don E Gilbert ( Australia)

Merit Practice Paper (2nd WAVO Congress & Valuation Forum, 2007, Beijing, PRC)

Impact of Macro Economic Indicators on House Prices Performance -Faziah Abd Rasid ( Malaysia)

Merit Research Paper (2nd WAVO Congress & Valuation Forum, 2007, Beijing,PRC)

Roles and Responsibilities of Valuers - Alan A Hyam Oam ( Australia)

Merit Award Practice Paper (1st WAVO Congress & Valuation Forum, 2006, Singapore)

Professional Ethics - Duncan Preston ( UK)

Merit Award Practice Paper (1st WAVO Congress & Valuation Forum, 2006, Singapore)

The Application Practice of Income Approach in Business Valuation in China - Zhao Qiang (P.R.C)

Merit Award Practice Paper (1st WAVO Congress & Valuation Forum, 2006, Singapore)

Intangible Assets Analysis and Valuation - Dr Ion Anghel ( Romania)

Merit Award Research Paper (1st WAVO Congress & Valuation Forum, 2006, Singapore)

Extraction of Land Value from the Property Price - Can We Separate the Inseparable? - Dr Tzu-Chin Lin ( Taiwan, China)

Merit Award Research Paper (1st WAVO Congress & Valuation Forum, 2006, Singapore)

The Financial Reports and the Enterprises Appraisal - Prof Horia Cristea and Prof Alexandra Buglea, Romania

Merit Award Research Paper (3rd WAVO Valuation Congress, 2008, Bucharest, Romania)

Iiquid Stocks Control Premiums Study : Evidence from China - Yan Shaobing, China

Merit Award Research Paper (3rd WAVO Valuation Congress, 2008, Bucharest, Romania)

Coherence between concepts and methodologies of valuation - the direction of improvement for valuation standards - Sorin Stan, Romania

Merit Award Practice Paper (3rd WAVO Valuation Congress, 2008, Bucharest, Romania)

A Linear Regression Model for Real Estate Appraisal - A/P Ciprian Sipos & Adrian Crivii, Romania

Merit Award Practice Paper (3rd WAVO Valuation Congress, 2008, Bucharest, Romania)

4TH WAVO VALUATION CONGRESS
Financial Market Security and the Valuation Profession
23-26 November 2009

Guilin, Guang Xi

People’s Republic of China

For:

Congress Flyer

Congress Registration Form

Hotel Reservation From

Look in wavoglobal

Source: http://wavoglobal.org/index.asp

Sample: Declaration of free conflicts of Interest in report valuation

2009-09-28T10:07:00.000-07:00

Some times we need do Declaration of free conflicts of Interest in report like this: KJPP pangaloan (Company Valuer), address at Jl. maharta, Central Jakarta, in this case represented by Mr. pangaloan, MAPPI (cert) as the Managing Director of, and therefore legitimate and authorized to act for and on behalf of and represent PT XXX, (hereinafter referred to as "Service Provider Evaluation") has been appointed by PT. XYZ (Persero) (hereinafter "Assessment Service Recipient") under the Service Contract Agreement 079/P-15/VI/2009 Tax Assessment dated June 20, 2009 (hereinafter referred to as "Assessment Services Agreement") to assist PT XXX in doing work , in connection with this assessment Serviced declare things as follows;

Valuation Service Provider, representative or human resources ( "HR") Valuation Service Provider has no conflict of interest referred to in the form below:

the relationship of economic interests directly, contact the association or other relationship (including family relationships) related to the scope of work in accordance with the Assessment Services Contract Agreement;

the relationship of economic interests that are not directly related to the implementation of the material duties under this Agreement Evaluation Services Contract;

Valuation Service Provider and Service Provider Valuation HR is not involved in activities that potentially or directly cause conflicts of interest during the period of assignment, and after two years of completion of assignment except with the permission of PT XYZ;

Assessment of the Serviced hereby agrees that in the event of a conflict of interest as mentioned above, the PT XYZ entitled to terminate this Agreement and Contract Service Provider Valuer assessment fully responsible for the legal consequences that happen as well as provide compensation if the result of a conflict of interest is detrimental PT XYZ nor any other party.

This statement is made and signed on June 25, 2009 by the legitimate representatives of the Valuation Service Provider

Latest information News Release from IVSC

2009-09-26T00:56:00.000-07:00

Latest information News Release from IVSC

INTERNATIONAL VALUATION STANDARDS COUNCIL APPOINTED TO THE CONSULTATIVE ADVISORY GROUP OF THE INTERNATIONAL AUDITING AND ASSURANCE STANDARDS BOARD

The Public Interest Oversight Board (PIOB) of the International Federation of Accountants (IFAC) has approved the appointment of the International Valuation Standards Council (IVSC) as a member organization of the Consultative Advisory Group (CAG) of a key international global standard setter – the International Auditing and Assurance Standards Board (IAASB). Next....

FOR IMMEDIATE RELEASE 2 SEPTEMBER 2009

Source: http://www.ivsc.org/news/nr/2009/nr090902.html

THE INTERNATIONAL FEDERATION OF ACCOUNTANTS AND INTERNATIONAL VALUATION STANDARDS COUNCIL TO COLLABORATE ON IMPROVING GLOBAL VALUATION CONSISTENCY

The International Federation of Accountants (IFAC) and the International Valuation Standards Council (IVSC) have signed a memorandum of understanding designed to enhance their respective impact on issues surrounding valuations—particularly those related to improving the consistency of global valuation standards affecting the preparation and audits of financial reports. Michel Prada, Chairman of the Board of Trustees for the IVSC, states, “Valuation standards, coupled with clear accounting and auditing principles, are key to the efficiency of the global market economy. This Memorandum of Understanding demonstrates the cohesive and united approach of the IVSC, IFAC and International Auditing and Assurance Standards Board (IAASB) to maintaining standards as global markets continue to develop.”

“The current economic crisis has highlighted the challenges associated with the valuation of assets and liabilities by both preparers and auditors,” says Bob Bunting, President of IFAC. “I am delighted that our two organizations will seek ways in which we can work together in serving the public interest. As a first step, I am encouraged that IVSC will appoint a representative to serve on the consultative advisory group of the IAASB, which works to strengthen public confidence in the auditing profession by establishing high-quality, global auditing, assurance, quality control and related services. I look forward to developing other areas of collaboration with IVSC in the coming months.”

FOR IMMEDIATE RELEASE 8 SEPTEMBER 2009

For press enquiries please contact:
Joanna Tudor, Spada
Joanna.Tudor@spada.co.uk
Tel: +44 (0)20 7269 1430

For further information on the IVSC please contact:
Marianne Tissier, IVSC
mtissier@ivsc.org
Tel: +44 (0)1442 879 306

Bisnis perkebunan kelapa sawit masih menjanjikan

2009-09-23T19:02:00.000-07:00

Bisnis perkebunan kelapa sawit masih pada relnya atau masih menjanjikan sungguhpun pada tahun 2008, Kinerja subsektor perkebunan masih mengalami perlambatan yang cukup tajam. Subsektor perkebunan mengalami kontraksi sebesar -0,08%. Hal ini tercermin dari menurunnya ekspor komoditas perkebunan baik CPO maupun karet. Penurunan permintaan dan harga komoditas membuat produksi subsektor ini melorot tajam. Pada tingkat perusahaan, nilai penjualan dan volume produksi CPO PT Bakrie Sumatera Plantation yang sebagian produksinya dihasilkan dari Kabupaten Pasaman Barat menunjukkan penurunan sejak awal triwulan III-2008.

Semakin tajamnya kontraksi subsektor perkebunan ini lebih disebabkan tingginya pertumbuhan pada periode yang sama tahun lalu. Perusahaan perkebunan melakukan berbagai efisiensi untuk mengatasi penurunan produksi seperti melakukan pengurangan pemupukan untuk kebun-kebun yang sudah mature, mengurangi impor pupuk yang merupakan komponen biaya tertinggi, serta menunda pelaksanaan investasi untuk sementara

Ekonomi Global

Kondisi perbaikan ekonomi Amerika Serikat juga memiliki pengaruh yang cukup signifikan dalam perbaikan perekonomian global. Bila strategi dari pemerintahan obama berjalan dengan baik dalam memulihkan perekonomian AS, bukan tidak mungkin meningkatkan permintaan energi global dan akan kembali meningkatkan harga komoditas, khususnya CPO

Penurunan BI Rate

Perbankan umum masih menerapkan suku bunga kredit yang tinggi meskipun BI-rate berada pada arah yang terus menurun. Perbankan menikmati margin keuntungan cukup tinggi dari besarnya spread antara suku bunga kredit dengan suku bunga tabungan dan deposito. Pada posisi triwulan II-2009 dibandingkan posisi akhir tahun 2008, BI-rate telah terpangkas sebesar 225 bps menjadi berada pada posisi 7,00%. Namun demikian, suku bunga kredit masih kurang responsif terhadap penurunan BI-rate dengan bergerak pada kisaran 13-17%.

Di sisi lain, suku bunga tabungan dan deposito lebih fleksibel dan responsif menyesuaikan penurunan BI-rate. Suku bunga tabungan pada triwulan II-2009 sudah berada pada kisaran 3,00-3,50%, sedangkan suku bunga deposito 1 bulan berada pada kisaran 8,50-9,00%. Dengan demikian, meskipun suku bunga acuan BI-rate berpotensi menurun seiring dengan tekanan inflasi yang semakin rendah, secara umum kondisi ini masih dapat dihadapi oleh perbankan umum. Potensi risiko yang dihadapi hanya relatif berkurangnya margin keuntungan yang diperoleh bank-bank umum.

Investasi Kebun Kelapa Sawit

Memasuki pertengahan tahun 2009, beberapa perusahaan kembali optimis terhadap perkembangan krisis perekonomian global yang diperkirakan telah mencapai dasar dan mulai menunjukkan pembalikan (recovery). Beberapa perusahaan perkebunan di Sumatera, termasuk PT Bakrie Sumatera Plantation di Sumbar, mulai merencanakan belanja investasi yang mayoritas bersumber dari kas internal. Hal ini mengindikasikan bahwa kondisi keuangan perusahaan perkebunan masih cukup baik meski harga komoditas sempat jatuh.

Harga CPO

Harga CPO internasional yang membaik memicu kenaikan harga minyak goreng di dalam negeri. Membaiknya harga ini dipicu oleh kenaikan harga minyak mentah yang saat ini menyentuh harga USD 72,45 per barel. Ditambah lagi pasokan kacang kedelai sebagai substitusi CPO dalam bahan baku biofuel diprediksi juga semakin berkurang (Bisnis Indonesia, 12 Juni 2009). Peningkatan harga CPO internasional juga memicu fluktuasi peningkatan harga minyak goreng dalam negeri. Membaiknya harga CPO ini mengakibatkan produsen kelapa sawit lebih memilih untuk mengekspor pasokan ke luar negeri. Produsen semakin gencar untuk melakukan ekspor dengan adanya kebijakan dari negara-negara importir seperti India yang menerapkan bea masuk rendah bagi CPO. Harga minyak goreng curah pada minggu ke-tiga bulan Juni 2009 menunjukkan harga pada kisaran Rp 8.800 -Rp. 9.000 per liter.

Di pasar internasional, harga CPO dan karet masih fluktuatif terkait dengan harga minyak internasional yang tidak stabil dan menunjukkan adanya gejala penurunan. Sejumlah perusahaan perkebunan memutuskan untuk melakukan efisiensi terkait dengan harga CPO yang melorot dibandingkan tahun lalu. Perusahaan perkebunan diperkirakan akan menahan ekspansi produksi, dan lebih terfokus pada pemeliharaan perkebunan yang sudah ada.

The positive side property investment in Indonesia

2009-09-07T03:47:00.000-07:00

The positive side property investment in Indonesia

Security of capital

Property as an investment in the view is one option or the investment portfolio. With regard to this, as the implications of capital accumulation and the accumulation of income save provide views to the owners of capital to secure capital. As one investment option, the property also becomes a means to secure capital.

Personal control

Based on the basic legality of the ownership of the property which is very tight and strong, of course, as the implications of such ownership than investors as the owners have a very strong control of the relevant property management.

Pride of ownership

Property investors have a motive other than pure investment; they also feel the pride of ownership property. For an easy description of a rapidly growing company and has a prestige in the market will want to complement the prestige of having a magnificent office building and in accordance with the nuance and vision of the company. For example, almost all major state enterprises, companies and multinational conglomerates have their own building as the central office.

Personal use and occupancy

Associated with the company's business growth, the company's prestige in the eyes of the market will also increase. In addition, growth will also enhance the accumulation of capital growth or capital owned by the company. Typically, a supporter of such prestige and is also supported by the ability capital, the company will control their own property to be used, such as central offices, the internal accommodation facilities, room to entertain important company, or other internal use.

High operating yield

Property itself has a performance that allows for a level of high investment returns from income operations. This can be seen from the property returns a relatively higher compared to other investor’s portfolio.

Leverage

Investment property is people with limited budgets are able to control or manage a large property investment. This may occur because of the loan which adds the ability for investment capital. To illustrate the property investment climate in Indonesia is the debt to equity ratio can reach 70%: 30%.

Tax shelter factor

Principles of stage management process

2009-09-04T05:28:00.000-07:00

Basically the principles of stage management process is the right people, right position, right time. Before looking for people to be placed in a certain position then the first set of organizational structure will be used. Each position in the organization then has to be explained the scope of duties, responsibilities, and expertise and skills presupposed known as the position description (job description) and the requirements of the position (job requirement). Based on these two things just made the staffing process.

Settings (directing) is an attempt to mobilize the resources owned by the organization in order to move in a single unit in accordance with the plans that have been made. In this process stage contained the efforts of how to motivate people to be able to work well, how the leadership process that enables the achievement of objectives and can provide an atmosphere of good working relationships, and how to coordinate people and activities within an organization.

Basically, the working people have the motivation is different. If this motivation can be identified and then stimulated with the right to expect that person will have good performance. The process of good leadership must consider the motivation aspect.

Supervising is defined as direct interaction between individuals in an organization to achieve performance and organization goals.

With regard to the stages of this process have recognized the existence of a certain condition in the organization of the phenomenon of formal and informal groups within an organization. Formal groups are groups that can be seen on the official organizational structure established by management to perform a particular task or activity. May arise, however a different informal groups with a formal group. This group could form a strong structure with their own leaders and perhaps their own rules too.

This informal group to support the organization but also can hamper the organization. Control this stage should be able to overcome possible resistance of this informal group. How to maintain the relationship between individuals and also between the formal-informal group to do well. Control is the process of determining what has been achieved, the performance evaluation process, and if necessary repairs carried out in accordance with a predetermined plan. This activity is closely associated with planning activities for the control of activities is planned to be seen whether that can be achieved or not.

Planning is the process

2009-06-30T18:17:00.000-07:00

Planning is the process of election information and making assumptions about the situation in the future to formulate activities that need to be done in the framework of achieving the goals set previously.

There are various forms of the plan which is basically divided into: Policy (policy), is a plan that explains the overall limitations of the general and comprehensive specialty in which the implementation activities. Procedures, is the plan that describe the actions that must be made to perform an activity. Method, is the plan that describe the actions that must be made to perform an activity. Standard, which is a description of the achievement of the expected activities planned. Budget, the plan on the receipt and expenditure of money in an activity. Program, is a comprehensive plan concerning the use of resources, including the integrated implementation of the schedule activities.

In addition, planning can also be viewed from the point of the coverage period of time or (horizon) plan. There are plans to reach the length of time or more, known more as long plan (strategic), eg 5-year plan for the future. On the other hand there are plans shorter time range, eg one-year plan for even one month to come, which is referred to as the operational plans (tactical).

The steps that need to be done in preparing the plan in general is as follows:
Defining the problem clearly planned and well in accordance with its intended purpose. Collecting information related to activities that may occur in order to achieve that goal. Conducting analysis of information can be gathered up and classification interests. Define the boundaries of planning. Define alternatives plan.
Choosing a plan that will be used from the alternatives available. Setting up the steps of a more detailed scheduling and implementation. Conducting re-examination (review) against the proposed plan before the plan implemented.

investment business win-win solution

2009-05-21T16:05:00.001-07:00

Indonesia adult this is a country that is being sought in the foreign investors as the third investment after China and India as a natural resource that is big enough.
With the potential for a great place for investment in Indonesia, there is an opportunity that must first get profit compared to employers and other countries.

But investment in Indonesia, Malaysia no longer run the old system such as the purchase of land, but more to the business of 'win-win solution' (each other) as to the business of processing, which require technology and property.

He disputed the cooperation that Indonesia, Malaysia and North Sumatra in particular, always the more profitable Malaysia. The investment property Penang Island, Malaysia, North Sumatra to reach 200 million Ringgit Malaysia, the number is much larger rather than a businessman North Sumatera since 2007-2009 that is still equal to 30 million Malaysian Ringgit.

The State Minister for Religious Affairs Domestic Trade and Customer Affairs Pulau Penang, Malaysia, Abduk Hajj Malik Kassim affirm, in the midst of global crisis, the government and inter-country, especially Indonesia and Malaysia, should further increase cooperation.

Cooperation that has been built for this should be improved, such as “halal” trade products that are new trends in various countries, including property.

Investment in the development sector Train

2009-05-09T06:41:00.000-07:00

Investment in the development sector Train

Department of Transportation budget will contribute to the improvement of facilities, infrastructure and optimize the function train station in West Java in 2009 was Rp. 200 billion. Interest for people to ride the train increased, it is not separated from the role of preparedness and Reliability to its facilities and infrastructure. The opportunity is not to be separated, the addition and maintenance of infrastructure facilities have become a part in it should be.

Ministry of Transportation said, his side will also bring back the station-station along the path South and North Channel with the halt to haul passenger train. Special routes for Bandung - Tasikmalaya - Banjar, the Government plans to open routes Train Rail Diesel Elektrik (KRDE) that stop at every station in the south of the path.

With a halt KA, the interaction with the community station will be more intensive. Finally, the station-station to be more alive. The Governor of that pack KRDE path that will be launched in 2009 is not only in the area but serve Bandung Bandung - Banjar.

Development of rail routes Station-Station Tanjung Priok Kota Jakarta cost of Rp. 20 billion. During this build facilities to train spend Rp 20 billion. Funds that use 2009.Dana fund budget is allocated for developing rail Tanjung Priok Ancol-Kampung Bandan-Jakarta Kota. The plan, the train will be developed into the concept of heritage tourism routes. In addition to a number of improvements and the creation of the train, the government also will do in the area and population relocation. Jakarta Government District/ Pemda will perform data collection in the vicinity of the railway line. In addition, the government will also conduct development, approaches to economic, physical, and social. The Government has not set the time to do the relocation. Relocate not know because they were all styled. We are also collecting data Head Family

The crisis is far from over

2009-04-24T16:15:00.000-07:00

The leaders of the International Monetary Fund and World Bank promised new resources to fight global worst economic decline since the Great Depression in 1930's. They also warn that the crisis is far from over.

Dominique Strauss-Kahn, IMF Director of Management, said the leaders in the U.S. and Europe need to fulfill the promise they made in the G-20 meeting in London to improve the banking system. To do this is to remove assets from the balance sheet banking problems. With the right policies, the world economy seems to be improved in the first semester 2010. "We will still face economic pressure," said Strauss-Kahn.

He added, may be needed more stimulus to be held in each country in 2010. The Board of IMF agreed to increase the loan limit for the 78 poorest countries to avoid more pressure because they bad global economy.

Meanwhile, World Bank President Robert Zoellick said the funds will provide as much as 45 billion U.S. dollars in the next three years to support development projects and road infrastructure in the poorest countries.

Discussion that began with a meeting of ministers from developing countries G-7 members, namely the U.S., Japan, Germany, France, UK, Italy, and Canada. Then followed a meeting with the group developed countries and developing countries G-20, such as China, Russia, India, and Brazil.

Improve bank

U.S. Finance Minister Timothy Geithner will emphasize that improving the U.S. banking system is a priority. An important component of the effort is the "stress test" which is currently done by the middle of the 19 bank regulators.

The test will measure how the bank is safe in the midst of the recession and is intended to determine which institutions require more capital again. Additional capital, if needed, can come from the private sector or government. Ministry of Finance is expected to issue results of "stress test" is the local time on Friday. World Bank, said funds 45 billion U.S. dollars that is designed to support job creation and help the recovery crisis. U.S. and Europe, Zoellick said, should already take into account long prerogative back and let developing countries have more voice in the management of the World Bank. Amount of 45 billion U.S. dollar means that 15 billion U.S. dollars more than the amount that the World Bank spent three years before the crisis occurred

Tourist come to indonesia

2009-04-03T21:32:00.000-07:00

A total of 134,909 South Korean tourists visited the resort island of Bali in 2008, up by 0.21 percent compared to the 134,622 tourists in the previous year. Although the rise is not as large as with Australian or Japanese tourists, South Korean tourists still remain the third largest group coming to Bali.

The number of South Korean tourists to Bali in 2008 made up 6.77 percent of the 1.99 million tourists that visited the island last year. Many of the South Korean tourists visit Bali as a result of the cooperation between the Bali administration and South Korea in the fields of culture, tourism and agriculture.

The struggling tourism industry in Bali has not discouraged the island's newest high school graduates from enrolling in vocational schools of tourism. The Kertayasa vocational school of tourism in Singakerta, Ubud, Gianyar regency, has received applications from 230 new graduates. The applicants come not only from Gianyar, but also from Badung, Bangli, Klungkung and Karangasem. The school's head, A.A. Gede Sugiantara, said the number of applicants had increased from last year. He plans to add one more class to the current four. Each class will have 48 students. An increase like this happened two years ago.

The ongoing global financial crisis may see some 20 percent of 4.41 million people working in the Indonesian tourism industry lose their jobs.

"We haven't calculated the exact figure, but no more than 20 percent of the total tourism workers will be affected," Harry Waluyo, director of the Culture and Tourism Ministry's Data and Network Center, said on the sidelines of the International Conference on Tourism Statistics, which opened Monday. He added workers directly employed in tourism establishments would face a bigger possibility of losing their jobs than those in tourism-related industries. Tourism-related industries will be able to find alternative markets for their products, while tourism establishments, such as hotels, restaurants and tour operators, will certainly be hard-pressed once visitor numbers drop significantly. Source: http://www.thejakartapost.com

Bondholders in rift showdown

2009-03-29T04:16:00.000-07:00

The real Title is : Shrimp producer CP Prima, bondholders in rift showdown.

Publicly listed shrimp producer PT Central Proteinprima (CP Prima) is currently entangled in a dispute with its overseas bondholders, represented here by top capital market analyst Lin Che Wei.

Through his newly set up consultancy Independent Research & Advisory Indonesia (IRAI), Lin urged the CP Prima management on Friday to top up the company's declining collateral and freeze the upcoming rights issue plan.

He said CP Prima was required to inject cash to keep its collateral pledged for the bonds within the favorable value. Bondholders have been pledged 70 percent of the company's shares, whose value plunged to Rp 50 (less than 5 US cents) on Friday's trading from the original price of Rp 600 cited in the bondholder contract.

CP Prima, through Singapore-based shareholder Red Dragon Pte. Ltd, issued bonds worth US$200 million in June 2007 with a coupon rate of 2 percent and a maturity period of 2010.

However, due to the stock market rout in October, which trimmed the share values of most local companies, CP Prima was required to pay cash to bondholders to keep the value of its pledged shares intact.

CP Prima, has been declared in default by bondholders since October," Lin said at a press conference, adding CP Prima's debt-to-equity ratio had reached an alarming level.

He refused to name the bondholders, saying only they were all foreign-based investors. But a document distributed by CP Prima shows the bondholders include well-known financial companies Morgan Stanley, Marathon Global Equity Master Fund and Highbridge Asia Opportunities Master Fund.

He also said the bondholders were against the company's plan to sell additional shares during the upcoming rights issue, as such a move would dilute the share collateral.

He claimed the failed rights issue in December was carried out based on "bad intentions", because the management had not sought prior approval from bondholders.

The Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) annulled CP Prima's shareholder meeting that approved the December rights issue plan because the meeting failed to meet the required 50 percent of shareholders.

The rights issue in December was estimated to be worth Rp 1.75 trillion ($152.25 million), with CP Prima issuing 17.5 billion new shares.

CP Prima plans to hold another shareholder meeting soon to approve another rights issue plan.
In response to Lin's allegation, CP Prima corporate communications director Rizal Shahab, who attended Lin's press conference, said Lin's attempt to prevent the upcoming rights issue was part of the bondholder scheme to take over the company in a hostile manner.

"I know who is behind you *Lin*. They're all hedge funds," a furious Rizal told Lin before storming out of the conference venue.

Rizal explained the rights issue was done merely to help improve the company's debt-to-equity ratio.

He also accused Lin of using his political clout to influence Bapepam to kill the December rights issue. But Lin denied the allegations.

"How could I influence Bapepam? It'd be like a lieutenant influencing his general - it's impossible." Lin refused to confirm whether the bondholders were keen to settle the dispute in court.

Source: Ika Krismantari , The Jakarta Post , Jakarta | Sat, 03/28/2009 1:42 PM | Business

Analysis on the Financial Reports and Other Financial Information

2009-03-11T15:40:00.000-07:00

Analysis on the Financial Reports and Other Financial Information (business valuation report part II)

Business valuer must disclose relevant information about the description after the adjustments on, among other things: historical financial statements (annual, interim, the ratio-the ratio of primary, and statistics for the appropriate period); prospective financial information (budgets, estimates, or projections); Comparison of the summary financial report for the relevant period; Comparisons common size financial statements for the corresponding period; Comparison of financial information industry common size for the relevant period; tax information for the corresponding period of years; compensation information for the owner including a bonus or benefit of, and personal expenses; Information on key employee insurance (if any), and management discussion and analysis on: Profit and loss on the contract; Contingencies or assets and liabilities outside the balance sheet; information about the company's sales during the period of the previous comparison of performance at this time with the historical performance and the performance comparison with industry trends and norms.

Valuation Approach and Method Used to be that. Business Valuer must state that Valuation have to consider Usaha approaches assessment as referred to in this regulation and identify the method of assessment in each of these assessments. Valuation Method and Approach Used. Business valuer must disclose and explain the reasons to use Business estimator approaches and assessment methods in the implementation of specific assessment of the assignment; Business and Valuation must disclose matters related to their methods and approaches used.

Adjustments in the Valuation. Business Valuation must: disclose the respective adjustments are considered and used, as DLOC, DLOM; decipher the consideration and use of adjustment factors considered in selecting the number or percentage that is used, and decompose the value before the adjustment is used.

Non-operating assets, non-operating liabilities, and the excess or lack of operating assets (excess or deficient). Business Valuation must identify every non-operating assets, liabilities and non-operating surplus or shortfall (results) of the assets and operations related to the impact assessment.

Reconciliation Cost Estimation and Value Conclusion. Business Valuation must provide reconciliation of various estimates of the value obtained from the approach and methods used and the considerations that underlie the conclusion reconciliation of values. Business Valuation must also disclose the statement that: Valuation the assignment has been made, including items on the assessment and evaluation; Analyst-analysis was done solely for the purpose as disclosed in the Reports Business Valuation, and estimate the resulting value can not be used for other purposes; assignment assessments have been conducted in accordance with the standards and assessment in the country applicable internationally; The estimated value of the assignment resulted in the assessment has been presented as a conclusion of value, work scope and the data available for analysis have been described, including any restrictions; Description conclusion about the value, both in form single value or range (range); Conclusion value tied to the assumptions and conditions, and constraint-statement statement Valuer Business; Valuation Reports Business was signed on behalf of the Business valuer; Date Valuation Reports Business has been disclosed; Business and Valuation do not have the obligation To deduce the value of the report or in the case of information obtained or the Business after the date of Business Valuation Reports.

Statement (Representation) Business Valuation. Valuation Reports Business statements must include Valuation Business summary that discloses the factors that made the guidelines in the assignment, such as: The analysis, opinions, and conclusions included in the value of the Valuation Reports Business tied with the assumptions and conditions are disclosed divider; The economic data industry and included in the Business Valuation Reports obtained from various sources, written or electronic believed Business Valuation can be. Valuation assignment that has been implemented in accordance with the standards in the country assessment, assessment standards that apply internationally (in the attached mandatory reporting) and the regulations in the field of Capital Market applicable; Basic compensation valuer Business and Business If Valuation base on one or more of the work of Labour Other experts in the assessment of the assignment, the Valuer must disclose in Business Reports Business Valuation level including responsibility. Qualified valuer Business, Business Valuer must include information about the qualifications and skills Valuation Business. Attachments, reports Business Valuation must load each attachment that is required to support the analysis and assessment results.

The next…..Serving Reports Books fairness (fairness opinion); business valuation report part III

I Think the-Articles related to property assessment/valuation and management report or control valuation can be viewed at:
Performance Evaluation in Valuation Property
Plan visits to direct visit
Key point to get property value
Market Data, appropriate to get market value now?
Management risk on valuation assessment
Quality control and the assignment in valuation
Serving Reports fairness opinion
Limiting conditions and the statement Valuer assessment reports

Serving Business Valuation Report: part I

2009-03-11T06:25:00.000-07:00

The report consists of the Business Valuation Report (long form report) and the Valuation Activity Report (short form report). Terms of the form, content and reports of the Business Valuation less as follows: Letters Introduction, Contents, and Introduction .

This section must describe and disclose the less as follows: The identity of another client's name, business, address, telephone number, facsimile, email, and use of assessment Destination Reports Business Valuation; User Valuation Reports Business and that does not restrict the users; Identity Description and assessment of the business object; explanation of the level of ownership and control on the nature of the object of assessment (controlling); Explanation of ability level business object to the assessment can be redeemed with money (marketability); Date Valuation; Date Valuation Reports Business; premise Value used; Standard value used; assumption that the substance does not reduce the value and condition-a condition that does not limit the responsibility of the evaluator Business results; Limiting the scope of work and data used for analysis in accordance with the fact that there is; Description of the Expert and the work of others when Expert Business assessors base assessment on the work of Experts, if any; Disclosure about important events after the date of assessment; Description of the provisions of the legislation related to the assessment of the assignment, and additional information that the valuer is required so that Business users the report can understand that the assessment work has been done outside of the things mentioned above.

Information Source: Business valuer must disclose and identify sources of relevant information used in the assessment of the assignment, include among others: implementation of the inspection results, inspection results over the documents related to law, registration, contract or other tangible evidence on the assessment of assets not tangible; Information about the name, position, and positions the parties have been interviewed and their relationship with the object assessment; financial information, tax information, industry data, market data, economic data, other empirical information, and documents and information sources provided by or related entities.
Adjustments to financial data. Considerations that underlie each adjustment or normalization control (control adjustment) to the financial information.

Information about the object and non-financial information is relevant. Assessors Business description must disclose information about non-financial related, among others, include: The nature, background and company history, production facilities, if any, organization structure, management, including directors and commissioners and key employees; types of equity and the rights attached ; product and or services produced; economic background, geographic market, industry market; Suppliers and key customers; Competition; Risk business; strategy and plan the future of the company (business plan) made by the Management and Regulation related legislation.

The next ……Analysis on the Financial Reports and Other Financial Information

Client Acceptance and Rejection in valuation assets

2009-02-24T14:13:00.000-08:00

PURPOSE: Set the conditions on the Introduction and Rejection Clients.

SCOPE: This provision applies to Headquarters, the Office and branch Offices Company / UJP Xxx.

DEFINITION:
Client is a company, institution or individual as a task that requires assessment services.
Introduction to Client Company is the information, institutions or individuals that are required internal Company / UJP Xxx taskmaster as candidate assessment services
Client Rejection is a process where the work provided by the client does not comply with the criteria of internal Company / UJP Xxx.
The Client is Controlled paper checks on internal Company / UJP Xxx process for evaluating the feasibility of Client.
The proposal is a technical document the process of the proposed technical work. The proposal consists of minimum technical meaning and purpose of the assignment, the scope of the assessment, methodology, plan events; format reports, data and information needed; implementation period; executive team, the technical implementation of the survey; cover.

CONDITIONS: UJP Xxx will only be working with the client that has a good reputation and does not blame the law based on legislation in both Indonesia and International.

Client Identification
1. UJP must make the process of identification of the client before making commitments assignment.

2. The process of identification can be done in a way:
i. Visits directly or indirectly
ii. Information from the authorities
iii. Clipping mail news
iv. Other sources of information.

3. The process of client data can be made to the prospective client, or that of others who were quite competent as financial advisor, legal advisors who can provide the client information.

4. Evaluation process of prospective clients is done in writing using the Sheet Controlled Client approval of the Head UJP Xxx.

Client Reception
5. Client acceptance criteria that can work with UJP is:
i. UJP / Valuer have competence, qualifications and knowledge sufficient to perform the assessment work of our task.
ii. UJP / Valuer are able to maintain independence, objectivity, and without ketidakberpihakan accommodate the private interests of both the Valuer and UJP.
iii. UJP / Valuer did not receive an assignment of assessment reports include opinions and conclusions that have been defined first.
iv. Exchange services (fee) associated with the assessment does not depend on the assessment report based on the contents of considerations that are not independent and objective and does not recompense the assessment in accordance with the margin of income UJP.
v. Clients have a good reputation
vi. And other criteria defined in the Internal Memo separate.
Rejection Clients
6. Client rejection criteria that can work with is UJP;
i. UJP / Valuer do not have the competency, qualifications and knowledge sufficient to perform the assessment work of our task.
ii. UJP / scorer is not able to maintain independence, objectivity, and not aligned accommodate the private interests of both the Valuer or UJP.
iii. UJP / Valuer to receive an assignment of assessment reports include opinions and conclusions that have been defined first.
iv. Exchange services (fee) associated with the assessment depends on the assessment report based on the contents of considerations that are not independent and does not even reward objective assessment services in accordance with the margin of income UJP.
v. Clients do not have a good reputation
vi. And other criteria defined in the Internal Memo separate.

Identify the assignment
7. UJP will only work for:
i. Property assessments such as:
a. Real PropertyValuation
b. Personal PropertyValuation
c.Valuation Development / Development Projects
d.Valuation Development Project
e.Valuation Plantation/Agri Assets
f.Valuation Fisheries Assets
g. Assessment of forest assets
8. Evaluation process of the type of work done on the assessment sheet Controlled Client, which is a working paper preliminary examination of the prospective client.

9. Evaluation process is done in writing by the designated officer and get approval by the certified valuer UJP.

10. Evaluation process is done with re-mapping (benchmark) of the type of work the assessment is given, using the historical data on UJP.

11. Re-mapping include:
i. Providing expert
ii. Proposed technical proposal preparation work
iii. Proposed budget work
iv. The process of reporting

12. Identification of all the assignment poured in the technical proposal, cost proposal and contract / commitments
13. Evaluation results stored in the file / files from the Client on UJP

Data Base Client
14. UJP storage of information from prospective clients and the type of assignment in accordance with the criteria specified documentation, among others:
i. Request a letter from the client assessment work
ii. Form field Client Acceptance and Rejection
iii. Mail a quote from UJP and reply of Clients
iv. Proposal technical work
v. Proposal cost jobs
vi. Letter of employment contract between the Client UJP
vii. Information correspondence from clients and other UJP
15. Officers appointed to a special review of Client Data Base owned.

AUTHORITY:
Authority associated with the Introduction and Rejection Clients are:
Approval and Acceptance Rejection Client: The Marketing (Marketing), Certified Valuer and / or Chief UJP
Client management Data Base : The Great Data

for Quality control and the assignment in valuation can read in http://dofirstinvestment.blogspot.com/2009/04/quality-control-and-assignment-in.html

Valuation intangible assets

2009-02-09T07:30:00.000-08:00

Business Valuation can only do the above is not tangible assets that meet the following characteristics: It can be identified and described specifically; Assets can not produce some tangible economic benefits that can be measured in economic value added or reduced cost; Having the ability to improve the function of other assets associated with tangible assets, or not able to give added value to the assets as a whole, to become the subject of the rights of ownership or control that can be transferred legally; can be recognized and protected by the law exists; There is real evidence of the existence of tangible assets such as no license; Created in the a certain time or resulting from a particular incident, and economic well-aged that can be terminated at a certain time.

Valuation intangible assets can done with the base on the approaches as follows: Cost Approach, Market Approach (comparable market approach or transaction), and / or income approach.

The cost approach can be applied to assess the tangible assets are not in a condition that not more than one year and / or have the same functionality, can be exchanged or substitution with no tangible assets other.

Terms of use Cost Approach: This approach can be done with a method that is based on: Cost to re-creating the (cost of recreation), the method is re-created the method to measure the economic benefits that will be (future benefits) of the ownership of tangible assets do not sum up the costs issued a compulsory, to replace the ability to give the benefit of these assets do not exist in the future. Cost reimbursement (cost of replacement). create or provide a return less amortization (cost of reproduction or replacement less depreciation appraisal).

Business evaluator must identify the costs that have been issued to create and develop the most tangible assets are not less include: cost of materials, labor costs, indirect costs (overhead); normal profit developers, and investment incentives in the form of assets are not tangible assets.

Costs have been identified based on the time spent, converted to the value or cost at this time (current cost) by using the consumer price index (trended historical cost), or take into account the opportunity cost (Opportunity Cost) of the costs that have been issued in a comparable investment .

Estimate the remaining period of benefit or the benefit age (remaining useful life) of tangible assets is not assessed to determine the value of obsolescence or depreciation of assets are not tangible.

Appraisal depreciation is obsolescence of the asset value does not exist that can be caused by the development of technology, patent age, the reduced ability to tangible assets do not generate more profits. Appraisal depreciation is not equal to the accounting depreciation.

Fair value of tangible assets are not generated from the cost approach is the number of charges issued mandatory at this time (current cost), less the estimated depreciation.

Terms of use of the market approach:
Assessment methods based on tangible assets do not approach the market is a process where the estimated fair value of tangible assets are not generated in a way not to analyze the shape of similar assets that have been sold and then compare this transaction with the assets that are not tangible.

Business Valuation need to do the analysis comparable between tangible assets is not assessed with no tangible assets that made the guidelines. Elements that made the comparison between the most or less are: Type and / or form of ownership of assets are not tangible; form of spending (financing) or the payment of the transaction occurred; The use of (the benefits) of the assets are not tangible; economic characteristics of assets not the shape and characteristics of use and obsolescence of assets do not exist. Business uses the evaluator can direct market data method (direct market data) or the assessment ratio or multiplier factor price (price multiple). If the assessment ratio used as the numerator is the selling price of the assets are not tangible guidelines and denominator is the choice of income variable in the in the Profit-Loss statement from the company where the assets are not tangible guidelines are used. Reconciliation and conclusions need to be value evaluator Business when used as multiple different multiplier factors.

Terms of use of the income approach:
Income approach is the application of discount or capitalization methods (economic benefits of the conversion method): the value of tangible assets is not the number of present value (present value) of benefits (income) generated by the economic assets that are not tangible; economic benefits produced no tangible assets in the discounted on the front of the discount rate or capitalization capitalized on the relevant level. This method can be used for tangible assets not related to marketing, customers, contracts, Goodwill is not tangible assets or the economic benefits can be quantification easily.

Economic benefits that can be used form of profit or cash flow. Components economic benefits generated by the tangible assets is not as good as the use and ownership (royalty fee), and can be grouped into: acquisition or improvement of income related to assets are not tangible (increment profit or cash flow); cost reduction due to the use of assets not the shape of the (cost decrement); and / or lower costs due to the investment assets are not tangible.

Income approach can be applied to assessment of tangible assets is not as elements of the company that runs (intangible collective assets, going concern value, big pot of Goodwill), assessment of tangible assets are not individually as part of the company that runs (individual intangible assets as a part of going concern) and for the assessment of assets do not exist as individual economic units (stand alone intangible assets).

Guidelines business valuer with income approach

2009-01-27T04:11:00.000-08:00

The income approach estimates value the ability to anticipate and calculated inclusion in the company or companies in the return to the owner will receive in the future and sum become indication or the value of the company's inclusion. Capital cost is a function of spending decisions concerning the cost of debt, equity and cost leverage. Methods of assessment based on the income approach can only be applied in two (2) ways: discounted cash flow method, and capitalization of income method.

Income or economic benefits anticipated will be generated by the assessment of future object, which is used in the income approach, must be based business plan through the valuation prepared by management of the votes.

In case the business plan can not be obtained from the Business Management, The Valuer then can arrange a business plan approved by the management and assessors responsible for the mandatory Business plan that state.

Business evaluator must first obtain adequate confidence that the assumptions used in the preparation of business plan based valuation is relevant, and can be grounded.
Economic benefits or income that must be used as the numerator in applying methods of assessment that is based on the income approach is a form of Net Cash Flow (akb) to companies (or net free cash flow for the firm) or akb to equity (net or free cash flow for the equity).

Capitals cost that is used by both methods, as determined in accordance with this obligation as follows: The cost of debt both short and long-term data is determined by using the interest rate from formal financial institutions. In case the company has a stock preferred the cost of equity shares for the preferred dividend paid by the company when the market reflects the level of dividend. If the dividend is paid in different markets with the market value of the company sought to open commensurate pay dividends. The cost for the equity shares shall be counted through the model: capital asset pricing model (CAPM); and Discounted Cash Flow (DCF) model.
Business evaluator must disclose the results of each method as mentioned in the letter's number 20 in the Rating Business Reports.
In case the cost of equity shares to be counted through the CAPM model, must consider the following: Level risk-free rate using a risk-free interest rate of the medium-term investment instruments issued by the government and the Beta is derived from the data published the average industrial sector with the same assessment of the object or the average number of companies in keeping with the benchmark.
In the case of using the discount method, the procedure must be done, among other things: study or adjustments on the assumptions used in preparing the projected financial report; study accurate or adjustments to the calculation of the projected financial statements, and study or adjustments to the accounting policies used in preparing the projections financial reports.
Method discount rate used for: Companies that operate and generate positive operating cash flow; manufacturing companies, trading companies and distributors of goods and services.
Akb projection can be set in two (2) the projection period, namely: the period of time has been set or specific (fixed or specific time period); period of time can still refer to: the age of the main technical factors of production and business planning period of time that has not been considered stable. Determining the period of time eternal (perpetuity period) started one year after the fixed period until the next.
In the case of applying the method to use discount model equity (equity model), must consider the following: cash flow that is required discounted cash flow available to equity holders owner; discount rate and compulsory return level or charge for equity.
In the case of applying the method using a discount capital model (Invested capital model), must consider the following: cash flow discounted the mandatory cash flow is available to all of the capital; discount rate must reflect the weighted average cost of capital that is used to generate the cash flow and value of equity can be estimated by reducing the value of the company or the value of capital that is planted with a market value of natural capital senior (preferred shares in the company's shares have preferred and long term interest bearing debt).
Business marker when using the income approach must disclose in reports Rating Business, among others: the reason or basis why do midyear projections that have been adjusted, when it was selected as the primary assessment, the procedure was done with respect to the application of the methods of assessment based approach income; things about the assignment and the basic framework of the assessment (valuation of the premises); assessment process is clearly and systematically; analysis and understanding Business Valuer information on historical and prospective assessment of objects and things that affect the value of the business object assessment and assumptions the support, conditions that limit the conclusions and opinions and Business Valuer.

Discount rate
Diskonto level is used to convert income economy that will be received in the future that reflect the current value of money and time of uncertainty over the economic realization income. Set in the discount rate used, Business Valuer must consider: the cost of equity, with the notice that: the level of lopsided results expected investors as compensation related to the placement of funds in an investment risk, and inflation estimates. lopsided result of the investment comparable (comparable investments); cost of debt is classified as part of the capital structure, and the risk of specific company and industry conditions.

In estimating the discount rate will be used, the procedure must be done as follows: identify the source of financing is used, set the elements of debt that can be classified as an element of capital structure that meets the conditions are: debt to shareholders that are not flowering is to be paid in that time has been set, and the short-bearing debt into the capital in a permanent job.

Calculate the percentage capital structure or the level of leverage the company, with the stipulation: in case the object is an assessment of minority ownership, the Business Valuer can use the capital structure based on the book value, in terms of assessment of the object is a majority ownership, the compulsory use Business Valuer capital structure based on the company's market value comparable companies in the industry and the same sub-sector, and in estimating the value of investments can use the planned capital structure (the target capital structure) and the capital structure of the plan for targeted mandatory disclosed.

To determine the cost of debt, both short-term (debt capital) or long-term (debt investment), are obliged to use data from the market interest rate of the average bank financing to carry out the business world.
Compulsory make adjustments when there is a debt financing with interest rates that vary with the market interest rate to reflect a comparable risk to the companies or items that are assessed.

Cost of equity shares is preferred dividend paid preferred. Cost of equity shares, is calculated by the method: 1. The capital asset pricing model (CAPM), or (2) DCF model.

In the case of using the CAPM method, must consider these factors as follows: the highest risk-free (risk free rate), which is based on the risk-free interest rate of investment instruments that have a maturity period of less than the 10 (ten) years, issued government; beta, which reflects the systematic risk, which is based on data published by the beta of the average industrial sector with the same assessment of the object or an average of some benchmark companies; equity risk premium, which is based on the published data, and risk attached to the specific object assessment.
Business evaluator can also use the cost of equity derived from the formula of DCF benchmark companies that have market value of equity.

To determine weighted average cost of capital will be used as the discount rate, calculate the required Business Valuer proportionally based on the weight of each type of capital structure that is used and the cost of each type of capital structure.
Rating reports Business obliged to reveal the reason, the assumptions and calculations used discount rate.

Projected revenue for the economic rate by using the income approach
Projection assessment process is the revenue stream for estimation economic assessment of the object by using a discount rate in accordance with the income level economic assessment of the object.

projection must be used in the income approach. In making projections, Business Valuer must: analyze financial statements under the item assessment 3 (three) years and the company's benchmark in the same industry, and make adjustments on the financial assessment of the object.

Adjustments referred to number 22 in the letter c 2 grains) is used as a working paper Business Valuer. Financial information disclosed results of the adjustment required in the reports Business Valuer.

To achieve the adjustment must be done as follows: Analyzing and re-presents the financial data of the object and consistent assessment of the functional currency of a kind; adjust the value that is reported to be a reasonable value; adjust the income and expenses to reflect a reasonable level results sustainable; Separating and adjust all the assets, liabilities, income and non-operating expenses, and in the majority of the assessment must be adjustments to income, the costs that are not common.
Adjustment on the Financial projections include Balance; Reports Profit Loss and Cash Flow Reports.

After the adjustment, he should return projections are presented on economic income, include: Dividend prediction based on dividend pay out ratio; Cash flow and EBITDA.

Discount rate used in the Business Valuer Projection compulsory income adjusted to the size of the object economic assessment.
Growth assessment in accordance with the object level of income generated by the economic capital that is considered mandatory projected.
Projection period is less than 5 (five) years, or tailored to the age of the main production facility.

Projected capital structure must be done consistently.
Discount rate and the appropriate level of capitalization required is defined.
Using your assumptions that the standards or deviate from the premise assessment contract (letter of agreement) assessment of the assignment.
Forbidden to build estimated only with the historical trend.
Reports in the Business Rating mandatory disclosed: the projected revenue stream definition economically, and the discount rate in accordance with the definition must be used in the analysis.

Projected revenue stream consistent with the economic interests of compulsory business object assessment.
Business must assessors are responsible for the projection that has been adjust .

Guidelines market approach in the assessment business

2009-01-07T06:35:00.000-08:00

o In Valuation approach that uses market (Market Approach), the assessment method that can be used is the Open Method of the Company's benchmark (guideline publicly traded company method), Method Previous Transaction (Prior transactions Method), and the benchmark method and guideline merged Acquired company and method.
o Companies that can be used as a benchmark is the Company's benchmark companies that already have market prices or prices that has occurred in a period of not more than 6 (six) days before the date of assessment.
o Business Valuer must have confidence that enough to prove and explain the data that the market prices used in the market resulting from a transaction that is arms-length transaction and not done by the parties do not intend sales and does not intend to purchase (no willing no willing seller and buyer).
o No willing seller and no willing buyer may have, among others: sales made between companies in a group, sales in the transaction under common control, or sales that occurred in liquidation.
o In the method the Company as Recorded in the Stock Exchange's benchmark, Valuer Business must consider:
o The Method in the Exchange Company as a benchmark indication of the value of minorities.
o The company's benchmark that can be used is the mandatory open or public company listed on the exchanges and stock be transaction actively for 90 (ninety) working days before the date of the last assessment.
o The company recorded in the compulsory benchmark local exchanges.
o In case the company does not have a benchmark stock recorded in the local exchange company that used stock recorded in the regional exchanges.

o In case the company does not have a benchmark stock recorded in local and regional exchanges to use the company recorded a stock in global exchanges.
o In case the company does not have a benchmark stock recorded in the local exchange, regional and global approach to the market can only be used if the transaction is used as a reasonable benchmark (arms-length transaction).
o In determining the company's benchmark, Valuer Business must be able to provide explanations and evidence enough that: industry, business activities, products and the risk is similar; characteristics of growth (growth in sales and earnings) and capital (capital structure) is comparable; financial performance Historically during the three (3) the comparable last year. Company size (total assets) are comparable, and The market (market share) is comparable.
o Business Valuer less compulsory to use the five (5) Public Company Emitten or as a benchmark company with the benchmark when the company meets all the criteria as described above.
o Valuer Business must use at least 8 (eight) the company is open / public as a comparison with the company when the company meet the benchmark three (3) of the five criteria, as mentioned previously.
o Valuer Business must make adjustments to the financial statements of the company's benchmark, among others: the post-post adjustment to non-recurring, and extraordinary window dressing and its impact on taxation, accounting policy adjustments to the company's benchmark companies are assessed, among others, include the following: make the depreciation method, age of economic assets; or make the difference in accounting policy for stock, such as from LIFO to FIFO, or vice versa; or Make adjustments on the expenditure items and non-opeValuation transactions that are not affiliated with the fair (unusual transaction with related parties).
o In a comparison using the method and company mergers Acquisition must consider: Method Corporate mergers and Acquisition as a benchmark indication of the value of the majority. Acquisition or merger transactions undertaken by the Company Open and closed similar transactions can be used as a benchmark, with the condition: In the case of benchmark data is used by Open Company (listed company): Company recorded in the compulsory benchmark stock or the same recorded in the exchanges with the regional company assessed; Having the same business; Market Capitalization (Market capitalization) and / or capital structure (capital structure), which is equivalent to the company who votes, and from a transaction that is arms-length transaction and not between the affiliated parties (non - transaction related parties) or in a control (under common control transaction).
o In the case of benchmark data is used by the Company Closed: Value that is derived from the transaction of arms-length transaction and not between the affiliated parties (non-related parties transaction) or in a control (under common control transaction). In case the object is the assessment of the company closed, marketability discount (discount on lack of marketability) used for the majority of between 20% (twenty percent) up to 40% (forty percent). In case the object is the assessment of the company closed, marketability discount (discount on lack of marketability) for the minority that is used between 30% (thirty percent) to dengan50% (fifty percent).
o In the case Valuer apply a discount or premium for controlling in the calculation, attention must Valuer Business: Up to the extent to which minority shareholders of the company is disadvantaged compared to the minority public shareholders; things that can be done by the shareholders control of the company to make shares control the assets more attractive.
o In case the object is the assessment of the company closed, discount or premium is used for controlling between 25% (twenty five percent) up to 50% (fifty percent). Obliged to use at least five (5) benchmark company mergers or acquisitions. In terms of the company's benchmark that is used only at least three (3) the company, then this method may not be used as the main method of assessment or material gain weight in the conclusion of value.
o Conditions must be in the ratio, the ratio used in the benchmarking to convert the financial variables that are relevant to the assessment of the object is considered: the assessment ratio used mandatory assessment applied to the objects are consistently applied in a manner comparable to a variable or object from the relevant assessments. The reasons for the selection and implementation of the assessment ratio used compulsory explained.
o In the case of using the ratio of Business Valuer-equity ratio (Multiple Equity) he should observe the following requirements: Price to earnings ratio (ratio P / E) price to earnings ratio (stock price = price x number of shares outstanding, earnings = net income) , Multiple this can be applied if the value is the cost of depreciation is not a significant factor in the cost. Price to net cash flow (P / NCF) stock price divided by the net cash flow. Price to book value (P / BV) = book value of net equity value, must be used if the book value of assets the company has considered the benchmark market value.
o In the case used the ratio of market value of the invested capital (market value of Invested capital = MVIC), then to get the indication from the company's equity value of the votes, the market value of invested capital is reduced must first capital with other major or a more senior such as debt or stock preferred. MVIC is the market value of equity and debt.
o Ratio-related investment ratio commonly used include:
MVIC to gross cash flow before taxes (MVIC / GCF) stock price divided by gross cash flow before taxes = EBDT; must apply if the value of depreciation is the value that companies have a significant and depreciation policies. MVIC / Sales, must apply if the company is assessed and used as a guide or benchmark has the characteristics of the same market value of Invested capital to Earning before interest, taxes, depreciation and amortization (MVIC / EBITDA); market value of Invested capital divided with profit before interest, tax, depreciation and amortization; market value of Invested capital to and Earning before interest, taxes (MVIC / EBIT); market value of Invested capital divided by profit before interest and tax, or market value of Invested capital to Book Value Invested Capital (MVIC / BVIC); market value of Invested capital book value divided capital.

o Ratio assessment of the company's benchmark can only be applied to a variable or data object from the date the assessment is not the same as or more than 4 (four) months from the date of the transaction with the assessment date.
o Period measurement of financial variables required between the object with the company's benchmark assessment. Variable income for many options that can be used, namely; 12 (twelve) months, years, on average, or average from 3 - 5 (with three to fifteen) years or projections of future years.
o financial report that is used to conduct the assessment is a mandatory financial reports audited last no more than 6 (six) months from the date of assessment.
o financial report the company's benchmark is a mandatory financial reports audited.
o Elections digit multiplier must be supported with adequate data on the comparative analysis based on fundamental financial companies that assessed the company's benchmark.
o Minority and Premium Discount Control that can be used in the assessment is 20% (twenty percent) of up to 35% (thirty five percent).
o The difference between the value of the company that obtained by using the approach to the market compared with the other approach is not greater than 20% (twenty percent) or the calculation of return must be done to each approach.

I Think the-Articles related to property assessment/valuation and management report or control valuation can be viewed at:
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Limiting conditions and the statement Valuer assessment reports

Excess Income Capitalization Method

2009-01-03T22:53:00.001-08:00

This method is based on the concept of income that a company's productivity is the result of the assets owned by both tangible and not tangible. Any excess returns earned returns above normal (normal return) on the tangible assets, is regarded as the return of tangible assets are not collectively.

The report profit and loss that is used is: a report of operating profit and loss last year; reports profit and loss 12 (twelve) months; average of at least five (5) last year, or next year projection is believed to represent the ability real companies that can be maintained in future. and then made adjustments reports profit and loss in accordance with the principles and procedures of adjustments, to obtain the return of normal operations of the company votes.

Rating return tangible assets and obligations must be done in accordance with the regulations on the method PAB.

The calculation: net tangible asset value (NTAV); normal rate of return in percentage for NABB; return reasonable amount (in rupiah) to NABB; or done on the basis of financial reports that have been evaluated or re-adjusted.

return reasonable level of NABB obliged to comply with the risk inherent with NABB and return level reflects the average cost between equity and debt costs in accordance with the capacity NABB in obtaining a loan (borrowing capacity).

Income normal economic or profit to be reduced by up return reasonable NABB reflect economic income can be maintained in the future. Difference between income and economic normal return top NABB is return on tangible assets.

Conversion of surplus value to be no tangible assets as a whole (going concern value), is done by using the level of capitalization in accordance with the risks inherent up with tangible assets not consider: the nature of business; management; market position the company, the company's reputation; consistency of economic income produced, and consistent customer base the company.

Cost of equity earned by adding value is not tangible assets (going concern value) is to reflect the value of NABB equity (common stocks) as a whole.

The NABB for return level and the level of capitalization to tangible assets is not disclosed in the mandatory reports Rating Business.

In the case of the assignment require Valuer Business Rating refers to the results of property assessment by the Property Valuer short resume (highlight) of tangible assets assessment done by the Property Valuer assigned mandatory disclosed.

Guidelines for the valuation of the approach of business assets

2008-12-22T05:41:00.000-08:00

Business evaluator using the approach in the valuation of the assets must have expertise in the field of property and business or in the case did not have the required expertise property valuation base of the Property Evaluation.
Assets approach can be used to obtain the indication of the value of a company's value, the value of Invested Capital, or the value of capital structure, and the net value of the company or the (equity).
In the case of an valuation carried out on the partial interest, the rights of ownership over these assets can be required to conduct sales or able to cause sales. Because only a majority ownership rights that have such (super-voting right), then the method based on the assets used to assess the ownership of which has control (majority interest).
If the estimation of the value concerning the ownership of the minority discount because of the lack of control factors (Discount of Lack of Control) (DLOC) shall apply.
If the valuations concerning the company or entity that is not easily sold sale, the indication of the value of the mandatory liquidity discount applied (Discount of Lack of Marketability) (DLOM).
In the report Assessment of Business with the approach of assets, the Business Evaluation obliged to reveal the value estimate, based on the ownership of the majority and minority in this assignment for the majority.
There are 2 (two) method approach in assets that is the method: Net Assets Adjustment (PAB) or the Net Asset valuation method (NAVM), Adjusted Net Asset Method (ANAM), Adjusted Book Value Method (ABVM) and the Assets Accumulation Method (AAM); and Excess Earning Method (EEM).
Indication of the value of the equity is the value of the remaining net assets (net asset value), obtained from the difference between the value of assets, including tangible assets and no liabilities value, based on the adjusted value (appraised value).
In the method PAB, no tangible assets identified and assessed individually on the method while KKP considered collectively (big pot theory of Goodwill) and referred to as going their concern value.
KKP concept of the method is that the income generated by a company or agency business is the contribution of productive assets owned companies both tangible and not tangible. Any excess return or earning above the normal return to tangible assets, or is the result of the contribution of tangible assets is not considered collectively and as a return to collective assets are not substantial. Rating collectively no tangible assets acquired by converting (capitalization) the excess of income or return it, with the level of capitalization that are relevant and that is not calculated for tangible assets.
KKP compulsory used methods to assess the equity business entities that are operating (operating company) with the level of revenue and profit growth is relatively stable.

PAB compulsory used methods to assess:
o equity in a body business where the value of the company depends on the (determined by) the value of fixed assets (a heavy fixed assets based on the company), such as real estate company;
o equity from the parent company (holding company);
o companies that do not have a history of steady income, the income fluctuates or question their ability to continue operations, which are going their concern, as the company's new stand (start-up company) and companies that are in difficulty (Stel companies);
o doubt the company that their life as a new company or companies that stand is in financial difficulties;
o companies that have the votes and control or significant tangible assets;
o added value provided employment to goods and services produced small companies; and
o no tangible assets owned companies are generally not very large.

Net Assets Adjustment Method (PAB)

o In the PAB method, the adjustments of assets required smooth conducted in accordance with the nature of the assets smoothly, including: cash and cash equivalents in accordance with the assessed value in the balance sheet (face value); receivables and the equivalent calculated in the valuation of receivables is equivalent to and believed can be billed; inclusion securities traded or adjusted based on market value reason and supplies, re-assessed on the basis of market value (net of costs associated with stock) or FIFO.
o Rating tangible fixed assets carried out in accordance with the required method applicable in the valuation of the property in accordance with the premise that the value set.
o no tangible assets Rating: Evaluation of Business is not obliged to identify the tangible assets of the company's votes and determine that no tangible assets which are eligible for the valuation done. valuation of tangible assets is not done: with a method that consider the economic benefits generated by the assets are not tangible; or on the basis of market prices of assets do not exist; or on the basis of the cost required to be re-created (the cost of recreation) is currently considering the remaining age benefit (remaining useful life).
o Evaluation of Business mandatory rate each component is not tangible assets, which have the following attributes: can be identified and described specifically; can provide economic benefits for the owner that can be measured; have the potential to generate other related assets and to create or add value to assets another was a subject of ownership rights (right of private ownership) is transferred legally answerable (legally transferable); can be recognized and protected by the law exists with the evidence of the existence of assets not exist, and have a period of economic benefits.
• Evaluation of Business obliged to reveal the identification of tangible assets is not assessed and the valuation method is selected in the rate of these assets.
• Debt obligations or assessed on the basis of book value, unless there are other factors that affect.
• Letter debt market that is assessed on the basis of market value.

I Think the-Articles related to property assessment/valuation and management report or control valuation can be viewed at:
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Serving Reports fairness opinion
Limiting conditions and the statement Valuer assessment reports

Terms in the valuation property

2008-12-19T07:17:00.000-08:00

Terms in the valuation property in the blog and here , one a gain here

For the purpose of consistency, clarity and better communication, Property Valuation obliged to use the definitions and terms related with assessment.
In the case of the Property Valuation and definition of terms that are not defined in these regulations, the compulsory use the term refers to the principles and the assessment of the property and apply common definitions and other terms are required to disclose clearly in the letter and Property Assessment Report.
Definitions and terms referred to, among others:
• Density figures Plant (Harvest Density figures) figures show the comparison between the number of trees harvested with the total number of trees from a certain area.
• emplacement area is the area over which there are buildings and grounds or.
• The area planted acreage is already processed (land clearing) and planted with commodities, which have produced or not produced.
• Other area is the area other than the railway yard and garden area, the area has not been processed form, swamps, sandstone, ravine or other land that can not be used for plantation.
• Asset plants are plants that are cultivated commercially in a certain area and managed based on the applicable technical cultivation in a public place.
• Asset plant is a non-facilities and infrastructure and other facilities that are not part of a unity irrespective of plantation property. Facilities and infrastructure covering the earth or land, buildings and facilities complement. Supporting facilities include machinery, equipment and support activities of the plant. Other facilities including furniture and office equipment as well as housing and vehicles.
• The assumption is that something will happen considered, including facts, conditions or circumstances that may affect the assessment object, or the approach to the assessment, based on the agreement, by a need to be verified Valuation of Business as part of the assessment process.
• Assumption is a special assumption that: require an assessment on the facts in different materials with the facts in the assessment period; estimated can not be met by prospective buyers because of market conditions that exist.
• New replacement cost is estimated costs to create a new property, which is equivalent to the property assessed, based on the market price on the local assessment.
• New Reproductive Cost is estimated costs to reproduce a new property the same or identical with the property assessed, based on the market price on the local assessment.
• Backup is the deposition of mining minerals which have been known to the size, shape, of the quality and quantity and in economic, technical, legal, environmental and social mining can be done at the time of calculation.
• Reserve the remaining (reserve remaining) is a mineral reserves on the mining ended.
• Basic Rating is an explanation or definitions, the type of values that are being examined, based on certain criteria.
• recycling plant is the time period required for a plant since the start of the planting until the age of Cutting.
• Forest is a natural field, trees natural alliance as a whole is a natural biological life and its natural environment.
• Forest is a forest plant that was built in order to increase the potential for forest production and quality by implementing intensive silviculture.
• Inspection of the visits and research with the goal to get information on the object assessment before issuing the opinion of the professional assessment of the value of the object.
• Property Assessment Report is written report made by the Property Valuation to provide information about the process and results of the assessment.
• assessment method is a way or a series of specific ways to make an assessment.
• Market value in these regulations is the approximate amount of money on the date of assessment, which can be obtained from the transaction to buy or sell an item exchange the results of the assessment, between buyers and sellers interested in buying that intend to sell, in a transaction free of ties, the bid is done feasible , Where both parties know each object uses of the assessment, the act prudently and without compulsion. Included in the definition of Market Value is the fair value is a number that is used to measure assets that can be exchanged through a transaction that fair, arm's length transaction, involving the parties and intend to have adequate knowledge. Value in use is for value of certain properties that are part of the agency business without considering the highest and best use of the property or the amount of money that can be obtained on the sale. Liquidation value is the estimated amount of money that will be calculated can be obtained from a property sale and purchase transactions / facilities to stop, in a limited time when the seller forced to sell and buyers are not forced to buy, with the assumption that all property / facilities will be sold for the whole be back in accordance with their use.
• assessment approach is a way to estimate the value of using one or more methods of assessment.
• The cost approach is the approach for the assessment of the value of the item to get indications based on the assessment of the cost of reproduction new or replacement, which was issued on the date of assessment after the depreciation based on the physical condition of the existing inspection in the field (observed Condition) and the reduction in value because of functional obsolescence ( functional obsolescence) and economic obsolescence (economic obsolescence), and add the value of the land.
• Market Data comparison approach is the approach to the assessment item assessment of the use of data on sales of comparable properties and similar items with a value of the assessment is based on a comparison process.
• Revenue approach is the approach assessment items that assessment is based on net income annually, which can be generated by the assessment object, then dikapitalisasikan with a certain level of capitalization to get market value assessment of the object.
• Valuation of Valuation, which is: has issued an assessment report or have received the assignment to conduct the assessment, but not yet completed an assessment report and resign, or have been told that the assignment has been terminated.
• Valuation Valuation is a replacement that will accept the assignment to conduct an assessment on the same object, with the votes by the Valuation predecessor.
• Period of the plant has not been (TBM) is the difference between the age of the plant to the age of the plant or economically productive.
• Depreciation is the loss of the value of the object assessment for various reasons or because of the difference between the cost of reproduction new or replacement, with the market value. Depreciation is also often refers to the loss of benefits utilities. depreciation can be a diminution or physical damage, functional obsolescence, or economic obsolescence.
• Personal property includes property, machinery and equipment used for more than one period, among others: the production or provide goods or services; rented to other parties; or administrative goals.
• Property plantation is the earth in the cultivated land in a certain area, with one or more of a commodity crops that are cultivated, facilities and infrastructure and other supporting facilities.
• Special Property (Specialized Property) or Property With Special Purpose (Special Purpose Property) or the Property Designed Special (Special Design Property) is a property that has the characteristics of a specific building, the benefits that have limited the use or user-specific, and not sold in the open market or do not have the data market, except as part of an overall business sales.
• Real property ownership is above the legal interest inherent in real estate or the legal control of the legal relationship of the real estate land, which includes all land rights (legal relationship with certain areas of land), all the interest (interest), and the benefits (the benefit) related with the ownership of real estate.
• Riap plant growth is the average time of unity plant
• Standard Investment Plant (Sit) is the cost of investment every year from the opening stage of land (land clearing), seedlings, planting (can occur in the same year or not), maintenance of the plant to produce, which is calculated with the concept of value that will come (future value) with the discount rate (discount rate) certain.
• Study the feasibility of mine (Mine feasibility study) is about the aspects of technical and economic prospects of a mining project and is the basis for investment decisions.
• Subsequent events are events that can affect the value of the likely occur after the date of assessment to date of the assessment report, including conditions that are not indicative known or can be known on the date of assessment.
• Annual Crops (Perennial Planting). Crop growth cycle that has more than one year or one cycle of cultivation.
• Other Experts are people who have the skills and qualifications in a certain field outside the scope of activities and assessments are not working in the Office of Valuation of Public Services. Other Experts referred to in this regulation is the experts who have expertise and special permission from the authorities, such as geological expert.
• Technical extraction technique is to get to the final value by reducing the value obtained with the method of approach, the cost of the value obtained with the method of income approach.
• Discount rate is a rate to convert the results of nominal value in the future to value now.
• The level of capitalization is the number of dealer (usually in the form of percentile), which is used to convert income into value.
• vacancy rate is a factor that is used to reduce the potential gross income that reflects the effective gross income.
• Age is the period Crop plants can be cultivated from the start until the end of the productive period.
• Age productive plants or economic age is the age of plant crops, which is calculated from the plant produces up to the end of the productive plants. Age economically productive age or plants can be called the period of the plants

Valuation practice the hotel property

2008-12-18T07:02:00.000-08:00

Evaluator in assessing the hotel required to obtain an adequate understanding of prohibited and considered an important stage with one that ignores the other phases, over the stages as follows:
 Conducting inspection in accordance with the provisions of the public and include: land, including the shape and size; the price of land in a location that is comparable to the location of the object assessment and allotment of land utilization and the assessment of the object.
 Analyzing the data, among others: the development of tourist areas around; the number of hotels in the vicinity; hotel that competitors; tariff hotel rooms in the vicinity; and the level of the dwelling in the area around the hotel.
 Analyze advantages and disadvantages of the object assessment compared with the hotel competitors, among other locations, themes and architectural hotel.
 Conducting inspection of the assessment object, among other physical condition, and treatment facilities.
 Obtain information from the hotel management about conditions that affect the income of the hotel, which became the object assessment.
In making the assessment, Evaluation obliged to apply the following approaches: Approach Market Data; Income Approach and Evaluation In this approach can not use the comparison of data and market approach or income, the cost approach can be used to fulfill the conditions

In the case of the income approach is used, the method used that compulsory is discounted cash flow method and the resulting value reflects the value of the hotel as one unit.
 In case the income approach is used, then the following mandatory done: Obtain and analyze the report profit and loss, at least five (5) last year, with the exception of the hotel that operates for less than five (5) years; income that is used is directly related income activities with the hotel; make adjustments in the accounts that are not normal in the profit and loss reports. Making a pro profit and loss adjustments based on the results of the report profit and loss; make a profit and loss projection of at least five (5) years, on the basis of pro profit and loss and profit and loss projection, which is produced is used as the primary method of discounted cash flow .
 What made compulsory in the use of the method cash flow in the hotel property evaluate, among other things: Make the most revenue projection is less five (5) years, consisting of, among others:
o room Earnings; Income Food and Beverages; Income and other related activities directly with the hotel.
o Create a projection of operational costs (Operating Cost) at least five (5) years old and consists of variable costs, fixed costs and the costs of backup
o reduce the income projection with the operational cost projections for the net operating income before interest and taxes;
o determine the level of capitalization and
o do Capitalization net operating income (net operating income) for estimated value of the hotel.

The valuation of personal property, Practical Guidance

2008-12-17T06:00:00.000-08:00

Personal Property is property that is not permanently embedded into the real estate, and can be moved, among other machinery and equipment, including all the rights, interests, and related benefits.

Machinery and Equipment category, among others:
 Factory, which joined the properties inherent or integral with the other properties, such as special buildings, machinery and equipment;
 machinery, machinery individual or group of machines. The engine is a device used to a certain process in relation to an operating company and
 equipment, other properties that are used to help operating companies.

Machinery and Equipment characteristics, including:
 It can be removed or relocated;
 Depreciation on Machinery and Equipment greater than the depreciation on real property;
 assessed as part of a unit or units operating as a unit for the individual are exchanged, in-situ or ex-situ and
 used in a sustainable production, and more than one (1) the production period.
Things that are done before the valuation of machinery and equipment, among other obliged Evaluation;
 Knowing the purpose and objective valuation to determine the basis of the valuation and approach that will be used, this is associated with the valuation of machinery and equipment as one unit production costs such as foundation, installation, operation preparation, including other costs related;
 Obtain a general description of the production process or the provision of goods or services from the Machinery and Equipment;
 To identify machinery and equipment which includes the name of the machine or equipment, brand, type or model, capacity, and years and years of making use of, and other specifications;
 Obtain information on the program of maintenance and condition of the machine and things that are needed;
 Obtain information about the production capacity of the machine tools and conditions, economic or industry conditions;
 Conducting estimation of the depreciation of machinery and equipment include the depreciation of physical, technical or functional obsolescence and economic obsolescence;
 Assumptions about the status and conditions of the different properties or to a different destination, among others: Machinery and equipment assessed as one unit, in-situ or in place and part of the business; Machinery and Equipment votes in-situ or in place with the assumption that business stopped, or machinery and equipment assessed as a separate component to be moved from the original location.
 Obtain information about: the limited resources available, or raw materials; the age of the building or the use of land and buildings that are limited from a factory, and government restrictions or environmental impact that could have influence the value of machinery and equipment.
 classifying part of the machinery and equipment used for production as part of a unit or units operating business activities, as a special property or the property is not special. Property is a special property that has a unique, special nature and design, configuration and rarely sold in the market. For part of the machinery and equipment that are commonly used in industry or who have a function, I can not be classified as a special property;
 obtain information about the status of ownership in the agreement made, in terms of machine components and equipment included in a financing agreement;
 removing property from the valuation, in the case of a machine parts and equipment tied in the operating lease or a property owned by third parties; and
 In the case of machinery and equipment moved, calculated the cost of compulsory discharge. For special interests, assessors calculate the cost of removal, the possibility of re-installation costs elsewhere, the cost of insurance and the parties which will bear these costs.

The approach used in the valuation of the valuation machinery and equipment are:
 Market Data comparison approach, produces a value estimate, through the comparison process transactions Machinery and Equipment of comparable, from the previously set price or bidding or selling price or the actual transaction.
 Revenue approach, consider the income and costs associated with the Machinery and Equipment and to estimated assessed value through the process of capitalization.
 cost approach; to estimated cost of machinery and other equipment that is a replica or substitution of machinery and equipment and have assessed the usefulness and quality comparable. For machinery and equipment used, compulsory depreciation calculated estimation. to estimated construction costs and depreciation based on the results of the analysis of construction costs and depreciation. Reproduction or replacement cost, new cost estimates for the reproduction or replacement item from a new valuation, based on market prices on the local valuation. Market value estimate, machinery and equipment depreciation to estimated determined by physical, functional obsolescence and economic obsolescence.
 machinery and equipment included in the special types of properties valued on the basis of the value of Depreciation Cost Coverage , while machinery and equipment included in the special type of property is not assessed on the basis of market value.
 In the case of machinery and equipment, which consists of a group evaluated that can be assessed based on market value and other groups classified as special properties of the first group must be assessed based on market value and the second group, based on the value Depreciation Cost Coverage. Addition overall value is not a market value but the value Depreciation CostCoverage.

Guidelines practical for the valuation Land

2008-12-16T15:01:00.000-08:00

In the valuation of the property, the market value of the land is the market value of the land both in the type of land not yet developed, land ready to be built, land with buildings over the building to be developed into a more productive, and the land has been developed in accordance with the applicable allotment.
Things that need to be considered in the valuation of land include:
 the ability of economic land in relation to productivity and economic strategy; and
 position or location of the land.
Approaches and methods that can be used in assessing the land is:
 data market comparison approach; market value of land obtained directly compare the data with the sale or purchase of data, in the approach to market data and data comparison, both buying and selling data, obtained from the compulsory association assessors;
 Revenue approach with the residual method Technology; market value of land obtained by reducing the value of the overall valuation that the object can be through the income approach, with the value of buildings, infrastructure and facilities, and items other than the valuation of land located on the top of the valuation object, with the income approach method residual Technology;
 Approach residual income with the Technology method is used only in the case: find the market value of the land allocated for commercial buildings, such as office buildings, hotels, shopping centres and apartments; and Used in the case, the association can be scorer did not provide data or buying and selling transactions of the valuation of the location of the object.
 Method value ratio of the total property value of the land, and the market value of land acquired by a certain ratio (between the value of the property with a value of the land) with a value of the property, in the method of total property value ratio of the value of land and the ratio between the value of the property with a value of the land required obtained from the assessors' association.

 method of land. Following compulsory met, among others: the market value of land obtained by reducing the selling price of land ripe with development costs and costs associated with kaveling/zoned or development of land, development land in methodology; can be used only when the object is located on the valuation of the region developing; Objects have an valuation of site plan approved by the local government; Objects and the valuation is not as a reforestation area, in the form of valuation items blank or raw land.

Practical guidance, assessment of real property

2008-12-16T06:36:00.000-08:00

Characteristics that affect property values, among others:
 Rights valuation of real property objects; location; Area, Lay-out, the quality of construction; Rent, financing or financial condition; and Characteristics of the law.
In the valuation of real property, Evaluation can use the data market comparison approach, cost approach and income approach and methods related to the approach.
Assessors are obliged to identify the nature of the property involved in any valuation of real property, include among others:
 location, physical description data and the data judicial, economic aspects or economic parameters and financial parameters for income producing properties;
 interests of the legal valuation of real objects;
 Personal property, business equipment (trade fixtures), or the part that does not exist is not real property;
 The existence of the restriction, obstruction or obstacles, rental agreements (covenants) are known, or the imposition of a special tax on property matters or other special; and
 What is the object valuation is right or partial ownership of the land parcels larger.
Special considerations that affect the valuation of the real property is obliged to disclose, among others:
 The need to analyze the possibility of consolidating ownership (or assemblage Marriage value) or the separation of ownership rights (component value);
 The influence of the possibility of regulatory changes in land and infrastructure development, such as expanding the system of public utilities or access corridor; and
 Market conditions are not stabilized, which was characterized by weak demand, excess supply and lack of sales transactions, difficult market value estimate, based on historical data and the latest data.
Market Data comparison approach in the valuation of Real Property
 market data comparison approach to set boundaries on the market value of real property to examine the data base with a market price that is usually paid by the buyer to similar properties. Assessors need to have confidence that the buying and selling transactions occur between parties who have a common motivation. The sale price reflects the motivation of the perpetrators is not common market compulsory excluded;
 Objects valuation than the price (transaction and bidding), there are similar properties on the market. The selling price of the units analyzed by applying the comparison and appropriate adjustments made for differences based on the factors relevant adjustments;
 Evaluation required notice of the ownership rights that were considered to ensure that the right of ownership of the object is the same with the valuation of the property comparison. In the case of differences, Evaluation obliged to make adjustments to the data from an object valuation and
 Evaluation obliged to know the limitations of the data market comparison approach which is when the change occurs quickly in the market or the market is not stable (volatile), or if applied in the valuation of specific properties.
Revenue in the approach to the use of the Real Property Valuation
 Income capitalization approach set the market value of real property based on the capacity to generate income or the expectations of the benefits in the future.
 income capitalization consider the income and expenditure data for a comparison of income (operational) net valuation of the object. Capitalization done better with the implementation of the single capitalization rate (capitalization rate or overalls all risk yield) on a yearly income, and with the implementation of yield or discount rate on a series of income during the projection period.
 method that can be used in the approach of income capitalization method is direct (direct capitalization) and the method of discounted cash flow.
 Given that investors normally focused on considering the level of investment, or the input assumptions that underlie the estimated value generated from the income capitalization approach can be compared with the performance of alternative investment property and other financial investment.
 Revenue especially with the approach of using the method of Direct Capitalization (land residual Technology) to assess the empty land can be used only if the conditions are met, among others: Value of building or buildings have been known or can be estimated accurately; net operating income related to property has been known or can be estimated accurately, and level of capitalization building or buildings available in the market.
The cost approach in the use of the Real Property Valuation
 cost approach with the cost calculation method to set the value of real property with estimation cost of land acquisition and development of new replacement cost above with a utility or adapt properties comparable with the use of the same, without considering, among other costs due to delays in the development time and cost of overtime.
 In case the property is the property referred to the older, the cost calculation method calculates obligatory depreciation estimate, including physical depreciation and functional obsolescence. Construction cost and depreciation is determined to make a mandatory referral to the analysis of costs and accumulated depreciation are based on market data.
 In terms of cost calculation methods applied in the estimation of market value, all the required elements, the method of data taken from the market.
 In this approach by applying the cost of Depreciation Replacement Cost method (DRC), which combine the elements that are based on market data with the elements is not the data market, can not be considered as market value.
 Given the estimation of the value generated from the fee calculation methods present value of the rights of property ownership in a "freehold", when referred to the property rented to other parties, or is the object of partial ownership rights, Evaluation obliged to make adjustments to reflect the type of ownership rights of the votes.
Assessors do compulsory inspection in implementing the valuation of real property inspection provisions of the guidelines have been submitted

I Think the-Articles related to property assessment/valuation and management report or control valuation can be viewed at:
Performance Evaluation in Valuation Property
Plan visits to direct visit
Key point to get property value
Market Data, appropriate to get market value now?
Management risk on valuation assessment
Quality control and the assignment in valuation
Serving Reports fairness opinion
Limiting conditions and the statement Valuer assessment reports

Guidelines Cost approach in valuation property

2008-12-15T06:18:00.000-08:00

1. Cost Approach (Cost Approach) can only be applied as the only approach in the assessment, in terms of fulfilling the provisions as follows: • assessment of the object can not be assessed with the approach Market Data (Market Data Approach) and the approach of Revenue (Income Approach); • object property assessment is special (special-purpose properties); • assessment of the object are the property of the new completed or not more than one (1) year from the date Rating; • object assessment form that planned construction, renovation or addition; • assessment of the item never traded in the market; and • Property assessment that requires details of each type of item assessment.

2. Valuer are obliged to give explanations about the reasons for the use of cost approach

3. Calculating the cost to determine the value of property in the cost approach can be done through two techniques, namely: • Reproduction costs, taking into account the cost of the price now, which is required to make a duplicate or a replica of the object by using an evaluation of materials, construction standards, design, layout (lay out), and the quality of the same object with the assessment and • Replacement cost, by considering the cost in the price now, which is required to make the replacement of the object by using an evaluation of materials, construction standards, design, layout (lay out), and quality that have been adjusted to the conditions during the assessment process.

4. The use of techniques to determine the cost calculation of the value of property in the cost approach, mandatory use consistently during the assessment.

5. The cost approach is prohibited to be used to make an evaluation on, among others: Owner Rights BOT; Unit property with the status of the strata title; assessment of land; Rating vehicle; Rating and lease hold property.

6. Things must be done in assessing the cost approach, including: Calculating reproduction or replacement cost of the New (or Reproduction Cost Replacement Cost) per property special assessment of real property, personal property and / or built or installed above ground The votes; Building-building built over the land assessed; complement other facilities built over the land assessed, and machinery and equipment that was installed above ground are considered. Reproduction or reduce the cost of replacement with the amount of depreciation that is to generate value objects indication other than the assessment of land and add value to land value indication in the assessment of objects other than to get an indication of land value based on the cost approach.

7. The calculation of cost or replacement of New Reproductive New to the building by using one of the following methods: Quantity Survey Method; quantitative survey method is a replica of the bidding contractor development. Estimation of this cost calculation unit and total costs, estimation of the benefits to owners or developers of the cost directly and indirectly.
• Quality and quantity produced by this method should be the same from all the building materials used in construction and all categories of workers.
• Estimated total cost of building materials and labor. Total cost is the cost per unit plus the cost of unexpected, additional costs and benefits.
• explain in detail about the building materials, labor, additional costs and benefits.
a) Unit In Place Method;
Methods Unit mounted a unit-cost units for various components connected to the main building based on the standard cost for the building structure components.
b) Comparative Method-Unit; and
Comparison method applied to calculate the cost estimates in the currency units per unit of volume or wide. This method is the method used to calculate the estimation of the value of the object assessment, based on the cost of comparable properties. make adjustments, in terms of property and an assessment of different object location. Calculating the cost of the dimensions of the building soiled units per m2. To estimation by comparing the total cost of the item assessment of the property comparison. Comparing the cost trends between the date of the contract (construction) and the effective date. In this trend price contract, the total cost of building that can be reduced (extraction) from the sale of comparable properties or new buildings throughout the meet as follows: Improving the moment has been prepared to meet if the property; Property has been stable; balance between demand and supply; Value of property can be known. the selling price of each property values reduced the value of comparison indicates that the remaining cost increase of the value of the object to know the assessment. Made adjustments in the event that there is a difference between the object and property assessment comparison. Valuer are obliged to calculate the cost of comparable units from the increase of unit costs, or adjust to variations in size, shape, resolution and other characteristics. The unit cost must disclose any changes related costs between the date of the recording unit cost comparison and the date of assessment.
c) Cost Indexing Method
Cost Index method applied by multiplying the cost of known or ought to know the number with an index that is based on the increase in the price index for building materials and the wages of workers, which is based on the difference in time between the date of assessment and the date when the calculation of the cost done.

8. Depreciated Replacement Cost Method
a) Applied rate to the assessment object, in the case of other methods in the cost approach can not be used.
b) the assumption that the method used in the DRC is that the potential benefits or services that are adequate potential of specific properties if compared with the total assets and calculated in terms of public and social facilities, it must reflect the prospects and feasibility of utilization of these properties in sustainability
c) In case the replacement cost method used depreciation , Evaluation obliged to do so, at least: calculate the value of the land by using the data market comparison approach with the land as empty land; calculate the value of the building by using the approach cost calculations and add value with the value of building land to get the value of the property.

Calculate the estimation of the value of the building costs of replacing the new (replacement cost new) with the method: Quantity Surveying methods; Unit in place method; Square meter method; and Method Cost Index (Cost Indexing Method). Calculate depreciation, the property assessment, the method can be used to calculate depreciation include: market extraction method, the market extraction method can be used only if; selling price of property derived from an association The Valuers available; comparison properties used must have the same characteristics of the object assessment in terms of physical and function; and the calculation of the value of land and replacement value return (replacement cost) property comparison can be done accurately.
d) The steps to calculate depreciation costs by using the methods of extracting the market include: Getting the selling price of property from an association The Valuers ; make adjustments to the selling price of the property comparison; find the value of the property that comparison can be depreciated (depreciated cost of alerts) with a way to reduce the selling price of property comparison with the value of land property comparison; calculate the value of re-replacement (replacement cost) property comparison; calculate depreciation cost way to reduce the value of the replacement property back comparison with the value of the property that comparison can be depreciated and the cost of depreciation convert into a percentage by dividing the cost of depreciation of the value replacement of the back (replacement cost) property comparison.
e) Methods of economic age; Age actual property is calculated on the number of years since the property was established finished. Age is the effective properties indicated that the number of years with the condition and uses of the property. The period of economic (economic life) is the period since the property was established to increase (alerts) property no longer be able to add the value of the property. The period of benefits (useful life) is the period since the property was established component to the property no longer can provide the benefits. The remaining period of economic properties is estimated to reduce the age of effective properties of the total economic properties. Method economic age can only be used if the data about the economic age and the age of an effective property can be determined accurately and property comparison used must have the same characteristics of the object with the assessment in terms of physical and function.
f) The steps to calculate depreciation costs by using the methods of economic age include: Determining the age of economical and effective properties of an age; and Distributing the Age effectively with the economic age of the property comparison.
g) Method breakdown, the breakdown in the method, depreciation costs are grouped into three main parts, namely: physical setback (Physical Deterioration); factor cause physical depreciation, namely: Due to the age and condition visible. Calculate the depreciation of physical effects of age with the same effective age divided by economic age and condition of visible effects, according to the damage or repair has been done. Functional Obsolescence. Functional obsolescence due to the depreciation caused by reasons that arise from within the building but beyond the physical setback, among others: Planning, which is not good; size room that is not in accordance with the planned; use of materials that are not appropriate, and that means not be operation there, such as building high-rise no extinguisher; storied building without the emergency stairs, and use not in accordance with the original function. functional obsolescence due to the depreciation can be calculated from the cost required, so that the building work in accordance with the already planned. Economic obsolescence (Economic Obsolescence), Depreciation due to dryness caused by economic reasons arising from the outside, among other laws that apply; change its (Zoning); social and economic changes of the local community; condition that is not secure; and Conditions economy. depreciation due to economic obsolescence can be measured by, among others: the type of property that can are able to use comparative prices and sales at the time before the occurrence of economic obsolescence and at the time after the occurrence of economic obsolescence; in the case of commercial properties can be seen from the causes and magnitude of the decline income item assessment, and the property industry can be seen from the causes of the decrease in the production of objects assessment. Building market value equal to the cost of replacing the new reduced depreciation.

9. In the case of using the Evaluation Principles Analysis of the Highest and Best Use of (the highest and best use analysis) met the required conditions as follows: Highest and Best Use of the property to become the object of compulsory assessment occurred in the time not too long since the date of assessment and not speculative. Do not violate existing regulations, among its other areas (Zoning), the rules of building (The Building Permit), environmental regulations, and the period of holding the rights; Allows physically, by considering factors such as size, shape, wide, height and the contours of land; making in the financial (financial), among others, with the ability to consider the item assessment for a profit; and Generate maximum profits. to reveal the explanation and reasons for the Analysis of the Highest and Best Use of (the highest and best use analysis) in the assessment report.

For Guidelines Income Capitalization Approach

in valuation property, read here............

Guidelines Sales Comparison Approach

2008-12-13T16:25:00.000-08:00

Guidelines Sales Comparison Approach or Comparative Method, the following mandatory provisions are met:
1) Property comparison used as a comparison at least a total of three (3) property.
2) The estimated value of the item assessment of the object through comparison with the assessment of comparable properties and other similar offers have been sold or selling or buying that has occurred.
3) the market data comparison approach can be applied if the data is that there is sufficient value to the object in the assessment of the market.
4) consider the following: the level of demand and supply; price should be paid for the property substituted with a similar tool; balance between demand and supply, and the significant influence of the environment to estimate the value of the property.
5) The data are obtained, among other obliged the form of sales data, supply conditions, restrictions, restrictions, the list of properties that compare with competitors and object evaluation.
6) comparison data used comes from the mandatory environment or the area around the market with the same object and the assessment came from transactions that are arm's length.
7) Any significant differences between objects and properties of an assessment that may affect the value, the element used as a comparison.
8) What made compulsory in the use of an approach to market data, among others: to do research to get sales information, a list of properties and offers similar and comparable properties; verifying the accuracy of the data; choose an appropriate unit (for example, the price per meter ) And develop a comparative analysis for each unit; and do a comparison with the properties comparison with the elements of comparison and make adjustments to the sales price of the property comparison.
9) elements of comparison should be considered mandatory, at least include the following: The rights contained in the ownership of the property; Evaluation obliged to identify the rights that are on the property for each transaction comparison selected for analysis and further adjustments made for each differences in the rights contained in the property comparison. Conditions sales; Evaluation obliged to make adjustments on the price of property transactions related to the sale conditions, such as motivated seller and the buyer in a transaction, the arm's length, transactions with related parties, or the control of the government (eminent domain).
a) market conditions;
Assessors are obliged to adjust the price of a property transaction with the market conditions changed from time to time.
b) The location and
Assessors are obliged to make adjustments on the price of property transactions related to the location of the property.
c) Physical Characteristics
Assessors are obliged to make adjustments on the comparison, in case there is a difference between the physical characteristics of the property with an assessment of the object. Differences include, among others, the size, age, condition, quality of construction, architectural models, building materials, functional utility, site size, charm and convenience.
10) In making adjustments to the price of the transaction, Evaluation can use any form of unit or percentage of the money.
a) the percentage of Adjustment
Adjustment of the percentage used to reflect changes in market conditions and the location of the difference in the form of percentage. Compulsory consistent scorer in the set relations between objects with the assessment of the property comparison. Adjustments can be done by calculating the difference in excess or shortage in the form of percentage, among others: if the object assessment and comparison with the property, it is not necessary adjustments if the object of scoring more prominent x% (x percent) of the property comparison, the advantages of x% (x percent) is added to the assessment of the value of the object, and if the object worse assessment of x% (x percent) of the property comparison, the lack of x% from the reduced value of the object assessment.
b) Adjustment unit of currency
Adjustment unit of money used to reflect changes in market conditions and the location of the difference in money. Compulsory consistent scorer in the set relations between objects with the assessment of the property comparison. Adjustments can be done by calculating the difference in excess or shortage of money in the form of units, among others: if the object assessment and comparison with the property, it is not necessary adjustments if the object of scoring more superior than the property x rupiah comparison, the advantages of x rupiah is added to the assessment of the value of the object, and if the object of assessment worse x rupiah from property comparison, the lack of x rupiah from the reduced value of the object assessment.
11) Chain Adjustment (Sequence of adjustment)
Assessors are obliged to make a series of adjustments to the way and calculate the total adjustments on the elements of the adjustments together or can be done alone by way of adjustments made (percentage of the units or money), and a combination of both these ways.
12) Market data grid
Assessors are obliged to use market data grid to the consistency of the adjustments are made. Grid is to make the reconciliation of several indications that the value generated in the data market comparison approach, which form the range of values (range).
13) make a reconciliation of various indications that the value generated from the analysis in comparison to the value of single or indication in the range of values (range) for a certain market conditions.
14) What made compulsory in the Market Data approach is as follows:
a) Collection of data: the accuracy of the assessment approach using data from the market is highly dependent on the amount and quality of data and data used in the assessment required to assess the association comes from a community or professional valuer.
b) Verification and Data Analysis
Any data that is used as a comparison of data must be verified and analyzed, such as the validity of data can be accountable; physical examination (inspection) to identify the similarities and differences with the object assessment; data should be eligible or assumption in the market value (market value), namely: Seller and buyer are not in the condition forced; seller and the buyer does not have a special relationship; seller and buyer have enough knowledge about the properties will be transaction ; seller and buyer have enough time, and there are things that are special in the transaction.
c) Adjustments made against factors: Location, among others, by observing the environment, access, and facilities; Scheme (Zoning) to consider, among other government regulation; nature of the physical nature-Land, among others, by considering the physical, area, shape, and elevation ; And other buildings between the facilities and observe the condition of the building.
d) the value of reconciliation and Conclusion. In the case of the data obtained is not in the same time, the Evaluation obliged to make adjustments. Based on the value indication that the data obtained from an adjustment, then reconciliation is done to get the value conclusions.
15) Technical Requirement that takes in the adjustment, among others:
a) add less Engineering (Overall Adjustment / Pluses Minuses);
Adjustments made directly compare with the overall advantages and disadvantages of the object with the assessment of the data comparison.
b) Cost Adjustment;
Adjustments made by taking into account the costs needed to make the equation comparison with the data if there are differences that can be changed, such as height, surface soil, topography, soil structure can be done with Adjustments consider the cost cut and fill.
In using techniques Adjustment Cost, Evaluation required that the cost of land Improvement does not always equal to the value of the results of Improvement.
c) a pair Engineering (Paired Comparison)
Adjustments are made based on the difference from one pair of data comparison-installed crown.
d) Engineering Statistics (regression)
The use of statistical techniques in the amount of data required an adequate (in accordance with the applicable standard statistics). In using this technique required to disclose all the data used in the assessment report.

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Guidelines approach and method used in valuation

2008-12-13T15:33:00.001-08:00

Guidelines approach and method used in valuation

Valuer are obliged to use at least two assessment approaches, as follows: Market Data Approach (market data approach, Sales Comparison Approach or Comparative Method); Income Approach); and Cost Approach.

Valuer can only use one approach, in case there are conditions as follows: The nature and type of object that a special assessment because they do not have a market value approach, the data so that the market can not be applied; Objects assessment does not have market value because of the nature and type of object in the assessment industry The specific approach so that the data the market can not be applied; assessment of land where there are only market data so that only the market data approach can be applied; and conditions or company that has been declared the company is bankrupt “pailit” or will be liquidated.

For the assessment of land empty, valuer can only use the data market.
Valuer are obliged to choose and apply the approach, methods and assessment procedures are in accordance with the purpose of the assessment, the definition of the value of searching and characteristics assessment.
Valuer are obliged to reveal the reasons and explanations for each approach and methods used. You can see …….. next. (ujp.pangaloan@gmail.com)

Inspection guidelines in the assessment of valuation property

2008-12-13T06:45:00.000-08:00

Valuer compulsory inspecting properties for the object assessment in accordance with the purpose of the assessment. In the case of Valuations/appraisals has been conducting inspections of the property before the same round is not more than thirty (30) days after the date of inspection, the Valuations/appraisals can consider the results of the inspection conducted in the previous assessment.
Objects include the inspection of other land, buildings, assets, operations and non-operational, machinery and equipment, and infrastructure.
Valuer are obliged to request an assessment of the data object grantor assignment to obtain data related to the assessment object, among others, related to: Legal assessment of the object; permits, and the physical condition of the object assessment.

Valuer are obliged to do verification of the data object assessment obtained from funders, the assignment to be used in the assessment.

In addition to conducting inspections of the objects, including an assessment of age and economic age, type, size, use, construction and condition, Valuations/appraisals obliged to conduct inspections, among others:
• the general characteristics of the region, city, local environmental facilities, environmental, social, economic, environmental and other values and the laws that apply;
• elevation and topography;
• the type or quality of the relevant property;
• the potential use of the land, although land is not set;
• increase (Improvement) is; and
• potential changes as a result of an increase (Improvement).

Valuer are obliged to make the identification and assessment of the condition of the item to give an opinion on the condition proportionally.

In the case of Valuations/appraisals can not do item assessment of the condition of identification, such as a cable under the sea or other objects that do not allow Identify conditions of the object, then the mandatory Valuations/appraisals: using data that reflects the assessment of the condition of objects that can be accountable; believes that the source data can be trusted; and to reveal the explanation and the reason can not be conducting inspections in the assessment report.

Valuer are obliged to understand, identify and disclose the status and legal position of the object assessment, among others, form:
1) the status of ownership or control of: the name of the company on behalf of shareholders; Built Operate and Transfer (BOT); Leasing (leasing); or the rights and control of the other.
2) the legal position of the object to the assessment. Terms of rent and detailed data on rental and rent-level and type of dwelling other; financial terms of the agreement, which will be diverted to land or buildings, including those still in the stage of development or development; the impact of city planning, environment, roads and other considerations about the plan ; Impact on the government's plan for the areas affected by development restrictions, and there is or not, or breach of the provisions of the legislation.

To ensure ownership of the object assessment, Valuations/appraisals required to obtain a list of assets and or other proof of ownership of the grantor assignment;

Valuer are obliged to confirm to the assignment of the status and legal position of the object assessment

Valuer are obliged to reveal the doubt on the legal status and position of objects that can affect the assessment value, in the assessment report.

Valuer are obliged to include the name and date of inspection Energy Professionals involved in the inspection report on the assessment.

In the case of inspection in forest plants and how to use the sample, then the Valuations/appraisals obliged to reveal the clearly how and the determination of the sample with reason, in the assessment report.

General Guidelines for Assessment and Report Your Property

2008-12-11T14:54:00.000-08:00

Standard or mandatory guidelines that are followed by Property Valuer in assessing the report and present an assessment of the property in the fulfillment of the laws that apply in the Republic of Indonesia.
In the event of a default or guidelines that are not regulated, they are obliged to follow Indonesia Valuation Standards (SPI) and standard assessment or other applicable internationally, and must quote the standards referred to in the report or the assessment is attached.
The guidelines aim to make this assessment report can be generated that meet high professional standards, have integrity , clear, reliable, independent and suitable destination assignment.
These guidelines set things must be considered by the Property Valuation in accepting the assignment, select and define the approach and method of assessment, the assumptions and material consideration in the assessment and preparation of the report, and other matters must be disclosed in the report.
Report assessment valid for a period of six (6) months since Date Rating (cut-off date).
Date is the date where Valuation make conclusions on the estimation of value.
Date Assessment Report is the date where the report was issued and signed by the Valuer.
In the event of a revision of the assessment report, the Valuer compulsory again publishes an assessment report with the date and number of different reasons and with the explanation back to the assessment report. Facts and material changes that mandatory assessments disclosed in the report that it has been revised.
In the cases of replacement of the Valuer accept the assignment to conduct an assessment on the same object, then the conditions required to adopt the following:

Valuer replacements need to first make communication, either written or oral, with the Valuer predecessor before accepting the assignment.
Valuer obliged to request the replacement of a written agreement from the prospective assignment to request information from the Valuer of before accepting the assignment.
Valuer obliged to request the replacement of the facts or findings that the confidence
Valuer replacement will help in deciding the acceptance or rejection to the Valuer of the assignment.
Valuer mandatory replacement plan and implement an assessment again in accordance with the assessment procedures. Grader replacement is not responsible for the Valuer of the work or issued a report that reflects the division of responsibility.

Before accepting the assignment, Valuer, among other obliged to consider:
1) Competency Valuer: Assessors must have adequate expertise in the theory and application, to: a) identify, collect and analyze data; b) choose and apply the approach and method of assessing the appropriate and c) use the professional to develop estimates of value.

2) Information about the client and the grantor or assignment;
3) objective assessment of the assignment;
4) Object assessment;
5) Standard assessment;
6) Date assessment;
7) Assumptions and conditions that limit the assignment in the assessment;
8) Conditions of laws applicable professional standards or other objects associated with the assessment or valuer assignment;
9) Terms of the proposed by the Client;
10) The steps that must be fulfilled in the assignment and assessment of barriers that may occur outside the control of Valuer, or clients, if any;
11) The use of assessment reports;
12) The nature of the services and risk assessment and expectations of clients and funders, or assignment;
13) agreement with the client and the grantor or assignment, compulsory Valuer: a) the nature of the analysis, facts and assessment of the assignment plan and conduct discussions with the grantor to do the assignment needs assessments and to obtain agreement on the assignment. b) build understanding with the client in the form of a written contract between another assignment, and make documentation about the agreement. c) make changes to the agreement have been made, in the case during the assignment there is a condition that requires undertake these changes to the agreement.
14) The scope for the assignment of, among others: a) Identification of the object assessment;
b) Inspection objects assessment; c) the availability and type of data is examined, and d) and the type of analysis that was conducted to obtain opinions and the results of the assessment.

In conducting an assessment of the assignment, compulsory Valuer: 1) to comply with the code of ethics and professional competence; 2) using at least two approaches to the assessment results accurately and objectively; 3) selecting and applying the approach, methods and assessment procedures are in accordance with the purpose of the assessment, the definition of the value of searching and characteristics assessment; 4) do not take sides in the assessment, objectives, and without accommodating the interests of certain parties or private; 5) consider the terms and disclosures set; and 6) create and maintain the necessary documentation.

In conducting an assignment, is prohibited Valuer: 1) assess where the opinion or conclusion in the report scoring has been determined beforehand; 2) make an assessment on the assessment of the same object, and to date assessment of the same; 3) to report the results of the assessment or misleading and allow other parties to report the results of the assessment of misleading and 4) receive payment for services, commission and a valuable form of the other, other than that agreed upon in the assignment.

In the conclusion of a value, compulsory Valuer: 1) believes that the value of the results obtained with the use of multiple approaches and methods of assessment have adequate quality.2) a reconciliation of the results obtained by: a) gross weighted method; or b) choose one of the value of the approach and method of assessment that most believed by the Valuer and better reflect the situation rightly or actual. 3) disclose the reasons and steps to make reconciliation in value in the assessment report. 4) Make a conclusion assignment assessment results, taking into account: a) the methods and approach the relevant procedures; b) the relevant information and available; and c) the appropriate level of discount (if used discounted cash flow method).

In the case occurred Subsequent Events, compulsory Valuer:
1) considering the (incident) occurred on the date of assessment and Subsequent Events.
2) Valuer obliged to reveal and explain the nature and impact of subsequent events in the additional disclosures as part of that is not separated from the assessment reports.
3) Disclosure must clearly indicate that it is not intended to affect the determination of value on the date of assessment.
4) The assessment will not update to reflect the condition of the incident.
5) Valuer obliged to calculate the impact of subsequent events into the value of the pro concerned.

Assessors are obliged to use market values in each scoring goals.

Assessors determine the compulsory category of object property assessment, among others:
1) property operations are the property needed in the operations of the company;
2) non-operational property is owned property to support the operations of the company; and
3) property owned company to develop in the future, investment or surplus assets of the company's operational activities.
h. Comparison of data used for each approach in order mandatory assessment comes from or validated by the Association of Professional Valuer, among others:
1) The data market in land;
2) Standard cost of building and
3) Property market.

Assumptions and limiting conditions
1) assessment report required to load and clear descriptions about the exact scope of assignment, and the meaning and purpose of their use, explains each assumptions, hypothetical scenario, or the requirements restricting directly affect the assessment.
2) Valuer prohibited from using the assumption that the value and reduce substance use conditions restricting the responsibility to reduce the Valuer of the results of an assessment that can lead to the use of the assessment report to be limited.
3) All of the assumptions and conditions restricting the use of compulsory produce indication values disclosed in the assessment report.
j. Privacy Information
1) Valuer obliged to protect and maintain confidentiality in the use of information about clients and funders, or the assignment of a confidential assessment and delivery of results before being published by the client and the grantor or assignment.
2) Valuer required to understand and comply with laws and regulations relating to the confidentiality of documents and information.
k. In the case of using the results of work by the Expert assessment of the assignment, the compulsory Valuer:
1) limits the responsibility to reveal the Valuer of the results of the work of the Experts;
2) contains the results of the work or opinion or statement of Experts referred to in the report of the assessment; and
3) attach report the results of the work of Experts referred to in the assessment report.

Valuation = appraisal ? more Info: let see here

Rental Rights

2008-10-20T07:21:00.000-07:00

Contractual rent (Passing rent or rent contract). Rent that based on the existing lease agreement; although the contractual lease may be the same as the Rental Market, in practice, can vary substantially, especially for the long lease with a fixed price of rent.
Rent Participation (Participation turnover rent or rent). A form of a lease agreement where the rent received in the form of rent associated with the income received by the tenant. One example is the participation of rent Expenditure rent.

Sell and Rent Back (Sale and Leaseback): Sales of real estate that followed simultaneously with the rental of property by the same seller. Buyers become the rent, or the owner (landlord), while the seller becomes the tenant. Because there are situations and relationships between the parties that may be unique, transactions and rental return may or may not involve the requirements of a public market.

Relations With Accounting Standards: Rights rent based on the general principles of the same property, but to acknowledge the differences caused by the rental agreement that limits the interest of property, which could cause interest that can not be marketed or limited. Rental rights, in particular, often involve agreements that limit or burdensome provisions. Property of the above, there are operational lease, for the purpose of accounting is usually classified as investment property, and therefore considered the primary market value. Rights rent parent also usually votes with a market value basis. In some cases, the tenant may have rights based on the agreement (Statutory right) to purchase the interests of rights owners to rent, usually proprietary, or may have absolute rights or rights to renew rent parole in a period of time. Assessors should be clearly revealed the existence of rights based on the agreement and acceptance in the report whether the assessment should be considered in this assessment. Importance to distinguish between the physical aspects of the law and the interests of (tenure) is critical in the assessment. For example, the rent that tenants may not have the right to sell or transfer the interest of rent, so the cause can not be traded during the rental period. Therefore, the value for tenants only based on the rights to use and occupy. Rental value can be expressed in monetary terms but is not a value market because they can not be sold in the market. Anyway, the interests of the owner (leased fee value) that have market value, based on the value of the rental income during the period plus the rental value of residue remaining at the end of the lease. Each of interest law (tenure) in the property should be considered as a separate entity and not be treated as if combined with other interests. Any calculation of the value of consolidating the rights (merged interest value) or the value of compounding (Marriage value) should be stated in the additional suggestions only and may be implemented as an assessment based on certain assumptions and are properly stated in the assessment report. Rental agreement that can limit the negative effect on the market value of the interests of rent. Assessors should be clearly revealed in the report about the existence of rating the condition. The most frequently occur and the negative effect is the restriction on the rights to rent or restriction to rent again.

Inter-rental company If the property bound by the lease or rental agreement between the two companies in the same group, is acceptable to consider the existence of the agreement, provided that the agreement is free of ties (arm's-length) in accordance with the general commercial practice. When the assessment was conducted for the purpose of financial reporting, is acceptable to reflect the lease between the companies, with the condition that the assessment is done against the interests of one of the parties in the rental agreement. However, if the assessment is done for interest groups associated with the recording in the account consolidation, the existence of rent between the company does not consider (IAS 40, eggs B21).
Physical changes to the tenant
At the rate of interest that the property bound by the lease, it is important for the Evaluation identify whether changes or adaptations have been made to the property by the tenant. If so, Evaluation should consider the following:

a) Does the tenant have been eligible to rent or restriction associated with the changes?
b) What is the impact of regulations on the rights of the parties in relation to the changes?
c) What changes are mandatory or voluntary?
d) Is there an obligation for owners to provide compensation to the tenants of the cost or value of the work, or for tenants to return to the original condition at the end of the lease?

Physical changes to the tenants divided into 2 categories:

a) Changes in the mandatory (obligatory alterations): This usually happens when the properties are in the basic conditions or replica with the specification is not ready uses tenants before conducting further work building or charging (fixture-out). Rental agreement condition that usually apply do is implemented by the tenant in a period of time.
b) Changes in the voluntary (Voluntary alterations); usually happens when the properties are in ready condition used, but the tenants choose to implement renovate or repair work in accordance with the specific needs of tenants. Although tenants may consider this as a change, the market in general, this may look different.
The changes are generally requirement will have beneficial impact on the Rental Market. Changes that could result in a voluntary benefit, neutral or detrimental to the Rental Market, depending on the nature and magnitude of the changes that are special. The impact of Rent reflected in the market value of the interests of the owner or tenant depends on the answers to questions on grain

Market Value of Negative :Negative market value may occur when the rights of smaller rental obligations must be fulfilled.

Common :Due to the complexity of the assessment of relative tenure, it is important for the client or the client's legal counsel to provide good Evaluation copy of the entire rental agreement or, for properties with the number of tenants that many, the sample from the rental agreement that is typical with a summary of the agreement to rent the other.

THE CONCEPT HIGHEST AND BEST USE

2008-10-01T07:37:00.000-07:00

THE CONCEPT HIGHEST AND BEST USE IN ASSET VALUATION

Highest and Best Use of (the moment has been prepared) is defined as the use of the most optimal and may be from a property, which is physically possible, have been considered adequate, legally permissible, financially feasible, and generate the highest value of the property.

In application to give the possibility to assess the damage to estimate the impact and building setback, the feasibility of rehabilitation and renovation, and various other situation assessment.

The land is a permanent asset, but the development is over the limited age. With The unique and can not moving every field of real estate enjoys a unique location. Permanently from the earth to provide the understanding that their existence is beyond the age of the building and all the things that are above. With other conditions in certain properties as the combination of land and buildings, which usually Evaluation to Estimation Market Value by considering the Highest and Best Use of appropriate development that (the moment has been prepared as Improved).

Unique natures of the land determine the optimum usefulness. If the land were considered separately from the building that stood above, the economic principle requires that the building of the assessed contributions to the total value of the property on the principle that unity is one that can not be separated between one and other

Market value of the land based on the concept of "Highest and Best Use", which reflects the usefulness and permanent nature of the land in the context of the market, where the value of the difference between the value of land with a total market value according to the development of the existing (Market Value as Improved)

Use of that is not permitted by law or is not physically possible can not be considered as the moment has been prepared. The use of permitted by law and any possible physical explanation of the need for the Evaluation of adequate consideration of why the use of these fairly possible. The Appraisal/valuer will consider the use of the most feasible and generate the highest value of the property .

In the market conditions that are extreme and the ferment that is very serious imbalance between supply and demand, the Highest and Best Use may be delayed for use in the future. In other situations, where some of the potential use of the Highest and Best can be identified, assessors must consider the use of alternative and the level of income and the anticipated costs in the future. When land use and regulatory changes are in the stage, the Highest and Best Use of the current can be temporary

THE VALUER READY TO COMPETE

2008-09-29T03:13:00.000-07:00

THE VALUER READY TO COMPETE

Developing countries are much the investors, especially the service sector and finance. In general, investors need to trust, professionalism, and competence of certain countries with the same investors. Similarly with the valuer in Indonesia, investors from overseas need a standard that is recognized the world can be applied by the valuer in Indonesia.

How with the valuer Indonesia?, They have been ready to compete with the valuer era of globalization?. Mid-September 2008, Mappi (Indonesia society appraisal) to "exposure draft of SPI 2007" the second part .

Discussed that matter: business valuation, intaglibe assets, valuation of agro, mass appraisal, public sector asset valuation, valuation mining industries, etc

Utility CONCEPT

2008-09-29T00:50:00.000-07:00

Utility
The main criteria for the assessment of real property and personal property are usefulness. The procedures applied in the assessment process have the same goals and calculated to define the level of functionality from the properties assessed. This process requires the interpretation of the concept of usefulness.

Utility is a term that is relative or comparative and is not an absolute condition. For example, the use of agricultural land is usually measured by production capacity.
Value is a function of quantity and quality of production that will be generated from agricultural land or of the quantity and quality of the building is very important for the operational activities of agriculture.
When the land has development potential, productivity will be measured by how productive land can be developed into housing, commercial property, industrial or mixed use. Thus, the value of land is determined by evaluating the usefulness of the legal aspect, namely the laws that apply, physical condition, function, economic conditions, and environmental factors that determine productivity

Fundamentally, property assessment determined by how the property is used and / or how the property is usually sold in the market. For some properties, optimum functionality achieved if the property is operated by retired. Other properties have a greater usefulness if operated as part of a set of properties, for example, a property that is owned and managed by agencies such as the network business center, restaurant or hotel Italy. Therefore, it must be distinguished between the uses of property are seen as a solitary, and when part of a group. Assessors will see the property as the perspective of the market. In general, mengestimasikan Evaluation and report the value of the properties individually. If the value of the property seen as part of the group, or portfolio, different from the value of the benefits, then this value must be considered

Property is usually self individually assessed and individually, too. If the assets that increase (or decrease) in value because of functional or combined with other assets economy, where the difference between the value of these can be reviewed in the process of evaluation and assessment stated in the report, both requested by the client or based on the observation Evaluation own. Estimated value definition can be expressed as Market Value equipped with supporting explanatory statement.
An individual properties may have additional value or value in the Special value as separate entities due to the relationship of physical or functional properties with next-owned by the other party or because of the attraction to buyers with special interests. The amount of additional value, or Special Value generally reported sep

Utility is measured from the perspective of long-term, usually beyond the normal age of a property or group of properties. However, sometimes a property to Redundant, or moved from production activities, modified for the use of alternative or function, or may not solely used for a while. In the other hand, the external market conditions, economic or political, can cause a decrease in production for a period that can not be determined. Rating the situation so requires special expertise and training, and reporting should be conducted in accordance with the Standard Assessment. Assessors should ensure full disclosure and explanation about the definition of value, the data used in the assessment, and the assumption of special or limitation (if any) that limit the assessment

source: Indonesia Standard Valuation (SPI)

UNDERSTANDING OF THE PROPERTIES ...2

2008-09-29T00:22:00.000-07:00

UNDERSTANDING OF THE PROPERTIES FROM INDONESIA STANDARD VALUATION (SPI)

THE SECOND STAGE
In Valuation land with the assumption that the land is empty, or land with buildings, facilities following equipment are there in the top (environmental infrastructure, social facilities, and public utilities) is the concept of economic development. Therefore, both land and empty land that has been built in so-called real estate. Economic value will be created based on the usefulness real estate, or based on the capacity to satisfy the needs and aspirations of the people. Matters related unique is, in general, durability, location, supply is relatively limited, and the usefulness of the specific areas of land concerned. In the context of economic value is measured in monetary terms, and is determined by the willingness and ability of individuals and organizations to translate the usefulness real estate in monetary terms.

Valuer meant that they understand and apply the disciplines of economics, especially related to the preparation and reporting of the assessment. As a professional, assessors must meet the requirements of education, training, competence and professional skills continuously. They must also show a high moral stance with respect to Code of Ethics Valuer Indonesia (KEPI), conduct practice with the professional assessment refers to Indonesia Standard Valuation (SPI).

Price change from time to time due to the impact of special and general economic, social, and cultural. General aspects can lead to changes in the price level and the ability of purchasing power in general. Meanwhile, changes in specific aspects, such as technology development, may change the demand and supply, and lead to significant price changes.

Many general principles that apply in the assessment of the property, especially the use of the principles of supply and demand, competition, substitution, anticipated or expectations, and other changes. These principles influence directly or indirectly to the level of functionality, productivity and property. Therefore, it can be said that the uses of the property reflects the combined effect of all of the strength of the market value of establishing a property

UNDERSTANDING OF THE PROPERTIES...1

2008-09-29T00:20:00.000-07:00

UNDERSTANDING OF THE PROPERTIES FROM INDONESIA STANDARD VALUATION (SPI)

THE FIRST STAGE

Property law is a concept that includes the interests, rights and benefits associated with the ownership. Property consists of ownership rights, which give the owner the right to a certain interest (specific interest) or the amount of interest on what they had. Therefore, we are obliged to consider the draft law of property, which includes everything that is the concept of ownership or the rights and interests of value, shaped objects or not (corporeal or non-corporeal), substantial or not substantial, can be seen or not, that has value exchange rate or the property can be formed.

The type of property itself consists of real property, personal property, corporate bodies, business (business) and the Ownership Rights Financial / financial interest

In the real concept of property, to distinguish between the real estate which is a physical entity such as land and development at the top, with ownership of the concept of law, ownership of a real estate called real property. Understanding of the real property is a right for individuals or agencies have, in the sense that control land with a land rights, for example, property rights or rights to the building following inherent in the development.

Ownership of other interests, other than a real estate (realty) as the personal property with physical objects called personalty. The use of the word property without the additional qualification or explanation can refer to real property, personal property or other types of property such as companies / agencies and business, or a combination of the Ownership Rights Financial / financial interest

Land is a fundamental for life and human existence, to become the centre of attention for experts in law, geography experts, social experts and economists and other experts including the valuer.