Daftar Perusahaan Sampel Manufaktur. No. Kode Nama Perusahaan

Lampiran i Daftar Perusahaan Sampel Manufaktur Sampel

No.

Kode

Nama Perusahaan

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26

ADES AQUA CEKA DAVO DLTA FAST INDF MYOR MLBI PTSP PSDN SKBM SKLT STTP SIPD AISA TBLA ULTJ BATI RMBA GGRM HMSP ARGO ERTX CNTX PAFI

PT Ades Waters Indonesia Tbk PT Aqua Golden Mississipi Tbk PT Cahaya Kalbar Tbk PT DavomasAbadi Tbk PT Delta Djakarta Tbk PT Fast Food Indonesia Tbk PT Indofood Sukses Makmur Tbk PT Mayora Indah Tbk PT Multi Bintang Indonesia Tbk PT Pioneerindo Gourment International Tbk PT Prasidha Aneka Niaga Tbk PT Sekar Bumi Tbk PT Sekar Laut Tbk PT Siantar Top Tbk PT Sierad Produce Tbk PT Tiga Pilar Sejahtera FoodTbk PT Tunas Baru Lampung Tbk PT Ultra Jaya Milk Tbk PT BAT Indonesia Tbk PT Bentoel International Investama Tbk PT Gudang Garam Tbk PT HM Sampoerna Tbk PT Argo Pantes Tbk PT Eratex Djaja Tbk PT Century Textile Industry (Centex) Tbk PT Panasia Filament Inti Tbk

27 28 29 30 31 32 33 34 35 36 37 38

RDTX SSTM TEJA TFCO UNTX SMRT HDTX MYTX DOIT ESTI FMII MYRX

PT Roda Vivatex Tbk PT Sunson textile Manufacture Tbk PT Textile Manufacturing Company Jaya Tbk PT TIFICO Tbk PT Unitex Tbk PT SMART Tbk PT Panasia Indosyntec Tbk PT APAC Citra Centertex Tbk PT Delta Dunia Petroindo Tbk PT Ever Shine Textile Tbk PT Fortune Mate Indonesia Tbk PT Hanson International Tbk

1

2 3

4 5 6

9

7

Universitas Sumatera Utara

39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81

SRSN INDR KARW PBRX BIMA RICY BATA SIMM BRPT BSUC SULI TIRT FASW INKP TKIM SPMA SAIP INRU AKRA BUDI CLPI ETWA LTLS POLY SOBI TPIA UNIC DPNS EKAD INCI KKGI AKKU AKTI AMFG APLI BRNA DYNA IGAR LMPI LAPD SIMA FPNI TRST

Lampiran i (lanjutan) PT Indo Acidatama Tbk PT Indorama Syntetics Tbk 10 PT Karwell Indonesia Tbk PT Pan Brothers Tex Tbk 8 PT Primarindo Asia Infrastructure Tbk 11 PT Ricky Putra Globalindo Tbk PT Sepatu Bata Tbk 12 PT Surya Intrindo Makmur Tbk PT Barito Pacific Timber Tbk 13 PT Daya Sakti Ungul Corporation Tbk 14 PT Sumalindo Lestari Jaya Tbk PT Tirta Mahakam Resources Tbk PT Fajar Surya Wisesa Tbk PT Indah Kiat Pulp & Paper Tbk 15 PT Pabrik Kertas Tjiwi Kimia Tbk PT Suparma Tbk PT Surabaya Agung Industry Pulp Tbk PT Toba Pulp Lestari PT AKR Corporindo Tbk PT Budi Acid Jaya Tbk 16 PT Colorpak Indonesia Tbk 17 PT Eterindo Wahanatama Tbk PT Lautan Luas Tbk PT Polysindo Eka Perkasa Tbk PT Sorini Agro Asia Tbk PT Tri Polyta Indonesia Tbk PT Unggul Indah Cahaya Tbk PT Duta Pertiwi Nusantara Tbk PT Ekadharma International Tbk 25 PT Intanwijaya Internasional Tbk 24 PT Resource Alam Indonesia Tbk PT Aneka Kemasindo Utama Tbk 18 PT Argha Karya Prima Industry Tbk PT Asahimas Flat Glass Tbk PT Asiaplast Industries Tbk 19 PT Berlina Tbk PT Dynaplast Tbk PT Kageo Igar Jaya Tbk PT Langgeng Makmur Plastik Industry Tbk PT Leyland International Tbk PT Siwani Makmur Tbk PT Titan Kimia Nusantara Tbk PT Trias Sentosa Tbk


82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100

TALFA YPAS SNCB INTP SMGR ALMI BTON CTBN INAI ITMA JKSW JPRS LMSH LION PICO TBMS TIRA KICI KDSI

101 102 103 104 105 106 107 108 109 110

ARNA IKAI KIAS MLIA TOTO KBLI JECC KBLM IKBI SCCO

111 112 113 114 115 116 117 118 119 120 121

VOKS ASGR MTDL MLPL MYOH PTSN SQMI ASII AUTO GJTL GDYR

Lampiran i (lanjutan) PT Tunas Alfin Tbk PT Yanaprima Hastapersada Tbk PT Holcim Indonesia Tbk 21 PT Indocement Tunggal Perkasa Tbk PT Semen Gresik (Persero) Tbk 20 PT Alumindo Light Metal Industry Tbk 22 PT Beton jaya Manunggal Tbk PT Citra Tubindo Tbk 23 PT Indal Aluminium Industry Tbk PT Itamaraya Gold Industry Tbk PT Jakarta Kyoei Steel Works tbk PT Jaya Pari Steel Tbk PT Lion Mesh Prima Tbk PT Lion Metal Works Tbk PT Pelangi Indah Canindo Tbk PT Tembaga Mulia Semanan Tbk PT Tira Austenite Tbk PT Kedaung Indah Can Tbk 26 PT Kedawung Setia Industrial Tbk PT Arwana Citra Mulia Tbk PT Intikeramik Alamasri Industry Tbk PT Keramika Indonesia Assosiasi Tbk PT Mulia Industrindo Tbk PT Surya Toto Indonesia Tbk PT GT Kabel Indonesia tbk PT Jembo Cable Company Tbk PT Kabelindo Murni Tbk PT Sumi Indo Kabel Tbk PT Supreme Cable Manufacturing & Commerce Tbk PT Voksel Electric Tbk PT Astra Graphia Tbk PT Metrodata Electronics Tbk PT Multipolar Corporation Tbk PT Myoh Technologi Tbk PT Sat Nusapersada PT Allbond Makmur Usaha Tbk PT Astra International Tbk PT Astra Otoparts Tbk PT Gajah Tunggal Tbk PT Goodyear Indonesia Tbk

27 28

29

30 31 33 32 41

34 35


Lampiran i (lanjutan) 122 HEXA PT Hexindo Adiperkasa Tbk 123 BRAM PT Indo Kordsa Tbk 124 IMAS PT Indomobil Sukses Internasional Tbk 125 INDS PT Indospring Tbk 126 INTA PT Intraco Penta Tbk 127 LPIN PT Multi Prima Sejahtera Tbk 128 MASA PT Multistrada Arah Sarana Tbk 129 NIPS PT Nipress Tbk 130 INTD PT Inter Delta Tbk 131 MDRN PT Modern International Tbk 132 KONI PT Perdana Bangun Pusaka Tbk 133 SQBI PT Bristol-Myers Sauibb Indonesia Tbk 134 DVLA PT Darya-Varia Laboratoria Tbk 135 INAF PT Indofarma (Persero) Tbk 136 KLBF PT Kalbe Farma Tbk 137 KAEF PT Kimia Farma (Persero) Tbk 138 MERK PT Merck Tbk 139 PYFA PT Pyridam Farma Tbk 140 SCPI PT Schering Plough Indonesia Tbk 141 TSPC PT Tempo Scan Pacific Tbk 142 TCID PT Mandom Indonesia Tbk 143 MRAT PT Mustika Ratu Tbk 144 PROD PT Sara Lee Body Care Indonesia Tbk 145 UNVR PT Unilever Indonesia Tbk 146 SMSM PT Selamat Sempurna Tbk 147 TURI PT Tunas Ridean Tbk 148 UNTR PT United Tractors Tbk 149 SUBA PT Suba Indah Tbk 150 SDYI PT Surya Dumai Industri Tbk 151 FPNI PT Fatrapolindo Nusa Industri Sumber : Indonesian Capital Market Directory dan www.idx.co.id

36

37 38

39 40


Lampiran ii

Perhitungan ROA tahun 2006-2008 NO

NAMA PERUSAHAAN

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35

Aqua Golden Mississipi Tbk Indofood Sukses Makmur Tbk Mayora Indah Tbk Bentoel International Investama Tbk Gudang Garam Tbk HM Sampoerna Tbk Hanson International Tbk Pan Brothers Tbk Panasia Filament Inti Tbk Indorama Synthetics Tbk Karwell Indonesia Tbk Sepatu Bata Tbk Barito Pasific Tbk Daya Sakti Unggul Corporation Tbk Indah Kiat Pulp and Paper Tbk Budi Acid Jaya Tbk Colorpak Indonesia Tbk Aneka Kemasindo Utama Tbk Asiaplast Industries Tbk Semen Gresik (Persero) Tbk Holcim Indonesia Tbk Alumindo Light Metal Industry Tbk Citra Tubindo Tbk Intan Wijaya Internasional Tbk Ekadarma Internasional Tbk Kedaung Indah Can Tbk Arwana Citramulia Tbk Keramika Indonesia Assosiasi Tbk Sumi Indo Kabel Tbk Voksel Electric Tbk Astra Graphia Tbk Multipolar Tbk Metrodata Electronik Tbk Astra Otoparts Tbk Goodyear Indonesia Tbk

RETURN ON ASSET (ROA) 2006 2007 2008 0.061 0.074 0.082 0.041 0.033 0.026 0.060 0.075 0.067 0.062 0.065 0.054 0.046 0.060 0.078 0.279 0.231 0.241 -0.138 -0.261 -0.112 0.018 0.030 0.004 -0.064 -0.093 0.251 0.003 0.004 0.012 -0.232 0.020 0.396 0.074 0.104 0.392 0.004 0.003 -0.197 0.075 -0.229 -0.329 -0.035 0.017 0.013 0.022 0.031 0.020 0.058 0.058 0.078 0.002 0.001 0.085 0.0002 -0.016 -0.011 0.173 0.208 0.238 0.025 0.024 0.037 0.067 0.023 0.003 0.134 0.137 0.100 -0.027 0.022 0.024 0.077 0.050 0.033 -0.106 0.196 0.035 0.059 0.069 0.074 0.184 -0.106 0.026 0.075 0.131 0.153 0.075 0.067 0.004 0.095 0.115 0.074 0.006 0.006 -0.017 0.025 0.023 0.006 0.093 0.132 0.142 0.056 0.073 0.001


Lampiran ii (lanjutan) 36 Indospring Tbk 0.004 0.016 37 Kalbe Farma Tbk 0.146 0.137 38 Kimia Farma (Persero) Tbk 0.035 0.038 39 Mustika Ratu Tbk 0.031 0.035 40 Unilever Indonesia Tbk 0.372 0.036 41 Sat Nusapersada Tbk 0.033 0.028 Sumber : Indonesian Capital Market Directory dan www.idx.co.id

0.035 0.124 0.038 0.063 0.370 -0.005


Lampiran iii

Ringkasan perhitungan Economic Value Added (EVA) 1. Net Operating After Tax (NOPAT)

NO 1 2 3 4

5 6 7 8 9 10 11 12 13 14 15 16 17 18 19

NAMA PERUSAHAAN Aqua Golden Mississipi Tbk Indofood Sukses Makmur Tbk Mayora Indah Tbk Bentoel International Investama Tbk Gudang Garam Tbk HM Sampoerna Tbk Hanson International Tbk Pan Brothers Tbk Panasia Filament Inti Tbk Indorama Synthetics Tbk Primarindo Asia Tbk Sepatu Bata Tbk Barito Pasific Tbk Daya Sakti Unggul Corporation Tbk Indah Kiat Pulp and Paper Tbk Budi Acid Jaya Tbk Colorpak Indonesia Tbk Aneka Kemasindo Utama Tbk Asiaplast Industries Tbk

Perhitungan NOPAT tahun 2006-2008 (dalam Rp) NOPAT 2006 2007 55.139.747.263 56.317.508.789

2008 129.822.968.143

2.443.790.000.000

3.573.282.000.000

5.143.029.000.000

127.069.926.971 167.542.830.702

175.503.117.368 381.486.439.761

272.939.423.253 415.179.239.881

2.784.267.000.000 5.173.495.000.000

3.287.569.000.000 3.865.047.000.000

3.941.487.000.000 4.325.064.000.000

-76.129.066.792

-68.470.691.895

-2.580.617.542

29.143.546.519 -81.825.749.705

54.360.456.196 -83.772.005.622

59.375.954.737 -83.925.454.763

5.743.709

11.852.029

817.814

6.670.536.858

6.371.338.159

702.699.530

24.053.289.000 -183.560.329.652 -9.421.575.021

42.332.892.000 -38.366.000.000 -18.631.346.060

-15.088.376.000 -2.486.177.000 -45.540.461.183

266.252.738

244.295.706

153.519.123

97.785.000.000 18.574.141.250

172.552.000.000 22.782.656.215

146.541.000.000 42.828.544.057

165.513.585

1.407.196.210

-11.890.717.094

4.405.874.173

8.596.746.433

26.085.683.597


Lampiran iii (lanjutan) 20

Semen Gresik 1.233.036.216 1.630.173.223 (Persero) Tbk 21 Holcim Indonesia 71.301.000.000 537.555.000.000 Tbk 22 Alumindo Light 138.087.485.808 84.850.809.242 Metal Industry Tbk 23 Citra Tubindo Tbk 19.104.751 17.726.829 24 Intan Wijaya 3.307.669.632 196.407.816 Internasional Tbk 25 Ekadarma 1.828.802.004 7.605.391.058 Internasional Tbk 26 Kedaung Indah Can -18.182.377.113 -31.046.263.308 Tbk 27 Arwana Citramulia 48.481.049.394 76.845.593.222 Tbk 28 Keramika Indonesia 1.411.921.088 29976.507.154 Assosiasi Tbk 29 Sumi Indo Kabel 63.486.868.000 82.039.226.597 Tbk 30 Voksel Electric Tbk 57.299.274.871 118.550.911.989 31 Astra Graphia Tbk 26.111.603.805 118.254.921.064 32 Multipolar Tbk 479.274.000.000 2.726.518.000.000 33 Metrodata 40.593.513.02 80.584.051.257 Electronik Tbk 34 Astra Otoparts Tbk 258.061.000.000 475.631.000.000 35 Goodyear Indonesia 46.727.136.000 77.370.455.000 Tbk 36 Indospring Tbk -6.359.545.018 70.677.161.135 37 Kalbe Farma Tbk 1.396.995.383.891 1.476.374.539.700 38 Kimia Farma 46.290.404.314 47.219.225.790 (Persero) Tbk 39 Mustika Ratu Tbk 13.578.704.515 22.259.299.739 40 Unilever Indonesia 3.179.124.000.000 3.636.654.000.000 Tbk 41 Sat Nusapersada 26.628.621.441 42.604.080.969 Tbk Sumber : Indonesian Capital Market Directory dan www.idx.co.id

2.341.617.252 1.007.451.000.000 115.889.614.113 19.863.202 3.307.669.632 12.414.798.825 10.035.384.349 90.724.805.722 35.245.591.125 104.433.967.143 145.861.568.979 127.343.158,.531 3.173.455.000.000 204.472.147.335 613.756.000.000 49.197.546.000 191.054.368.418 1.495.229.621.118 66.324.487.354 34.849.661.063 4.467.741.000.000 8.511.223.397


Lampiran iv 2. Invested Capital Perhitungan Invested Capital tahun 2006-2008 (dalam Rp) NO 1 2 3 4

5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

NAMA PERUSAHAAN Aqua Golden Mississipi Tbk Indofood Sukses Makmur Tbk Mayora Indah Tbk Bentoel International Investama Tbk Gudang Garam Tbk HM Sampoerna Tbk Hanson International Tbk Pan Brothers Tbk Panasia Filament Inti Tbk Indorama Synthetics Tbk Primarindo Asia Tbk Sepatu Bata Tbk Barito Pasific Tbk Daya Sakti Unggul Corporation Tbk Indah Kiat Pulp and Paper Tbk Budi Acid Jaya Tbk Colorpak Indonesia Tbk Aneka Kemasindo Utama Tbk Asiaplast Industries Tbk Semen Gresik (Persero) Tbk

INVESTED CAPITAL 2006 2007 721.848.894.518 811.887.701.167 9.950.587.000.000 16.818.218.000.000 1.349.704.222.709 1.294.486.523.559

2008 919.005.554.679 23.332.103.000.000

1.337.402.257.636

2.153.198.142.066

3.016.423.366.127

3,223,613,257,498

13.848.029.000.000 15.004.634.000.000

16.402.427.000.000

2.001.711.000.000

9.467.857.000.000

8.491.612.000.000

244.418.451.614

102.734.226.235

(160.123.025.769)

150.608.908.858 466.245.903.875

247.943.844.929 423.827.711.476

252.260.715.837 358.426.934.853

391.003.097

416.578.218

403.056.222

4.140.649.516

13.533.996.686

(1.011.622.682)

207.609.618.000 1.239.943.890.401 85.034.531.514

222.413.003.000 14.532.933 39.843.560.247

291.471.812.000 14.918.723 (65.743.479.950)

4.848.365.161

5.020.817.089

5.016.323.982

705.024.000.000 68.499.921.212

1.073.194.000.000 77.768.209.292

1.018.033.000.000 95.862.948.361

36.260.762.697

(12.231.320.211)

27.066.830.254

180.623.471.313

180.762.727.442

156.996.429.774

6.036.336.492

7.069.353.156

8.510.864.235


Lampiran iv (lanjutan) 21

Holcim Indonesia Tbk

6.210.028.000.000

22

Alumindo Light Metal Industry Tbk Citra Tubindo Tbk Intan Wijaya Internasional Tbk Ekadarma Internasional Tbk Kedaung Indah Can Tbk Arwana Citramulia Tbk Keramika Indonesia Assosiasi Tbk

479.026.498.113

474.862.117.464

486.255.461.612

90.478.146 153.239.408.178

101.056.621 157.171.233.846

104.958.726 161.256.655.415

60.277.333.081

63.760.171.889

93.733.279.882

94.449.766.156

73.166.279.469

77.658.796.039

319.549.462.131

442.249.018.367

472.813.734363

(1.503.307.93.992) (1.574.691.905.528)

579.85.597.789

Sumi Indo Kabel Tbk 379.856.134.714 447.970.242.957 Voksel Electric Tbk 273.609.156.215 325.764.217.644 Astra Graphia Tbk 432.225.426.988 325.562.211.617 Multipolar Tbk 4.981.676.000.000 7.404.749.000.000 Metrodata Electronik 325.795.015.193 375.135.348.691 Tbk 34 Astra Otoparts Tbk 2.292.646 2.695.401 35 Goodyear Indonesia 310.971.813 336.589.826 Tbk 36 Indospring Tbk 248.680.026.865 266.784.510.108 37 Kalbe Farma Tbk 3.965.859.593.488 4.383.583.392.926 38 Kimia Farma 908.553.642.826 953.175.126.735 (Persero) Tbk 39 Mustika Ratu Tbk 268.540.212.234 285.291.657.803 40 Unilever Indonesia 2.568.549.000.000 2.905.278.000.000 Tbk 41 Sat Nusapersada Tbk 232.590.535.564 588.962.240.178 Sumber : Indonesian Capital Market Directory dan www.idx.co.id

514.425.332.388 333.372.757.272 369.692.674.644 6.188.363.000.000 548.586.223.348

23 24 25 26 27 28 29 30 31 32 33

6.109.867.000.000

6.531.524.000.000

3.108.131 722.899.914 282.863.243.181 4.453.460.880.943 995.814.851.450 311.282.360.234 3.413.625.000.000 563.944.695.906


Lampiran v 3. Capital Charges Perhitungan Capital Charges tahun 2006-2008 (dalam Rp) NO 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

NAMA PERUSAHAAN Aqua Golden Mississipi Tbk Indofood Sukses Makmur Tbk Mayora Indah Tbk Bentoel International Investama Tbk Gudang Garam Tbk HM Sampoerna Tbk Hanson International Tbk Pan Brothers Tbk Panasia Filament Inti Tbk Indorama Synthetics Tbk Karwell Indonesia Tbk Sepatu Bata Tbk Barito Pasific Tbk Daya Sakti Unggul Corporation Tbk Indah Kiat Pulp and Paper Tbk Budi Acid Jaya Tbk Colorpak Indonesia Tbk Aneka Kemasindo Utama Tbk Asiaplast Industries Tbk Semen Gresik (Persero) Tbk Holcim Indonesia Tbk Alumindo Light Metal Industry Tbk Citra Tubindo Tbk Intan Wijaya Internasional Tbk

CAPITAL CHARGES 2006 2007 44.028.287.262 59.723.259.479

2008 75.063.611.306

(94.586.000.000)

152.575.000.000

(93.772.000.000)

105.707.540.539 55.975.684.153

121.403.696.255 113.630.683.854

198.578.692.436 42.484.054.820

116.319.000.000 943.354.000.000 (47.342.185.434)

626.560.000.000 2.214.274.000.000 (34.363.050.179)

794.388.000.000 2.063.419.000.000 18.318.504.219

1.386.165.516 (33.342.071.795)

(1.708.099.032) (50.695.600.985)

2.538.144.466 83.808.477

11.906.015

14.524.291

49.648.696

(2.966.223) 12.744.754.000 5.127.403.853 244.833.505

836.360 22.688.623.000 38.269 (11.375.487)

(566.337) 113.663.411.000 (2.941.357) 27.099.263

36.325.128

61.203.524

(16.806.468)

15.649 2.531.651.019

33.357 2.482.005.613

19.765 4.602.109.126

232.571.090

5.988.161

766.256.240

44.577.611

(2.807.178.928)

(1.965.430.755)

997.445.751

1.467.184.868

2.010.716.746

18.001.000.000 15.875.547.145

34.682.000.000 (4.279.945703)

427,620.000.000 (19.714.391.379)

109.050 (4.198.904.866)

130.065 3.055.089.863

(509.032) 3.200.098.862


Lampiran v (lanjutan) 25

Ekadarma 4.654.359.608 3.116.851.184 Internasional Tbk 26 Kedaung Indah Can (12.531.215.630) 14.350.503.256 Tbk 27 Arwana Citramulia 18.848.972.520 18.749.383.624 Tbk 28 Keramika Indonesia (184.830604.202) 556.060.304 Assosiasi Tbk 29 Sumi Indo Kabel 28.836.398.931 59.747.749.961 Tbk 30 Voksel Electric Tbk 18.959.076.865 18.193.237.669 31 Astra Graphia Tbk 25.679.350.630 27.311.254.786 32 Multipolar Tbk 30.078.000.000 (225.170.000.000) 33 Metrodata 10.705.933.330 10.367.930.604 Electronik Tbk 34 Astra Otoparts Tbk (35.793.000.000) 325.793.000.000 35 Goodyear Indonesia 17.019.053 24.397.416 Tbk 36 Indospring Tbk 1.465.203.693 (7.475.239.220) 37 Kalbe Farma Tbk 499.484.619.497 539.574.166.316 38 Kimia Farma 26.537.667.693 631.542.829 (Persero) Tbk 39 Mustika Ratu Tbk 7.599.351.369 9.303.638.399 40 Unilever Indonesia 955.902.000.000 1.070.209.000.000 Tbk 41 Sat Nusapersada 1.977.978.625 3.188.220.327 Tbk Sumber : Indonesian Capital Market Directory dan www.idx.co.id

1.487.247.625 2.753.758.664 23.041.094.593 7.365.113.208 1.060.422.919924 (5.755.680.774) 17.527.889.323 (278.783.000.000) 20.099.157.545 420.106.000.000 (2.379.685) 3.120540.239 499.078.723.145 31.457351.208 18.349.772.091 1.263.292.000.000 (2.829.222.371)


Lampiran vi 4. WACC Perhitungan WACC tahun 2006-2008 (dalam %) NO NAMA PERUSAHAAN 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

Aqua Golden Mississipi Tbk Indofood Sukses Makmur Tbk Mayora Indah Tbk Bentoel International Investama Tbk Gudang Garam Tbk HM Sampoerna Tbk Hanson International Tbk Pan Brothers Tbk Panasia Filament Inti Tbk Indorama Synthetics Tbk Primarindo Asia Infrastruktur Tbk Sepatu Bata Tbk Barito Pasific Tbk Daya Sakti Unggul Corporation Tbk Indah Kiat Pulp and Paper Tbk Budi Acid Jaya Tbk

2006 6.10 (0.95) 7.83 4.32 0.84 47.13 (19.37) 0.92 (7.15) 3.04 (0.07) 6.14 0.41 0.29 0.75 2.22

17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35

Colorpak Indonesia Tbk Aneka Kemasindo Utama Tbk Asiaplast Industries Tbk Semen Gresik (Persero) Tbk Holcim Indonesia Tbk Alumindo Light Metal Industry Tbk Citra Tubindo Tbk Intan Wijaya Internasional Tbk Ekadarma Internasional Tbk Kedaung Indah Can Tbk Arwana Citramulia Tbk Keramika Indonesia Assosiasi Tbk Sumi Indo Kabel Tbk Voksel Electric Tbk Astra Graphia Tbk Multipolar Tbk Metrodata Electronik Tbk Astra Otoparts Tbk Goodyear Indonesia Tbk

3.70 0.64 0.02 16.52 0.29 3.31 0.12 (2.74) 7.72 (13.27) 5.90 12.29 7.59 6.93 5.94 0.60 3.29 (1.56) 5.47

WACC (%) 2007 7.36 0.91 9.08 3.77 4.18 23.39 (33.45) (0.69) (11.96) 3.49 0.01 10.20 0.26 (0.03) 1.22 3.11 3.19 (0.05) (1.55) 20.75 0.57 (0.90) 0.13 1.94 4.89 19.61 4.24 (0.04) 13.34 5.58 8.39 (3.04) 2.76 12.09 7.25

2008 8.17 (0.40) 9.22 1.32 4.84 24.30 (11.44) 1.01 0.02 12.32 0.06 39.00 (19.72) (0.04) (0.34) 1.94 4.80 2.83 (1.25) 23.63 6.55 (4.05) (0.48) 2.42 1.59 3.55 4.87 1.27 20.61 (1.73) 4.74 (4.50) 3.66 13.52 (0.33)


Lampiran vi (lanjutan) 36 37 38 39

Indospring Tbk Kalbe Farma Tbk Kimia Farma (Persero) Tbk Mustika Ratu Tbk

0.59 12.59 2.92 2.83

(2.80) 12.31 0.07 3.26

40 Unilever Indonesia Tbk 37.22 36.84 41 Sat Nusapersada Tbk 0.85 0.54 Sumber : Indonesian Capital Market Directory dan www.idx.co.id

1.10 11.21 3.16 5.89 37.01 (0.50)


Lampiran vii

NO 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23

Perhitungan EVA tahun 2006-2008 (dalam Rp) NAMA EVA PERUSAHAAN 2006 2007 2008 Aqua Golden 11.111.460.001 (3.405.750.690) 54.759.356.837 Mississipi Tbk Indofood Sukses 2.538.376.000.000 3.420.707.000.000 5.236.80.000.000 Makmur Tbk Mayora Indah Tbk 21.362.386.432 54.099.421.113 74.360.730.817 Bentoel International 111.567.146.549 267.855.755.907 372.695.185.061 Investama Tbk Gudang Garam Tbk 2.667.948.000.000 2.661.009.000.000 3.147.099.000.000 HM Sampoerna Tbk 4.230.141.000.000 1.650.773.000.000 2.261.645.000.000 Hanson International -28.786.881.358 (34.107.641.716) (20.899.121.761) Tbk Pan Brothers Tbk 27.757.378.003 56.068.555.228 56.837.810.271 Panasia Filament Inti -48.483.677.910 (33.076.404.637) (84.009.263.240) Tbk Indorama Synthetics -6.162.306 (2.672.262) (48.830.882) Tbk Primarindo 6.673.503.081 6.370.501.799 703.265.867 Infrastruktur Tbk Sepatu Bata Tbk 11.308.535.000 19.644.269.000 (128.751.787.000) Barito Pasific Tbk -188.687.733.505 (76.635.000.000) 455.180.000.000 Daya Sakti Unggul -9.666.408.526 (18.619.970.573) (45.567.560.446) Corporation Tbk Indah Kiat Pulp and 229.927.610 183.092.182 170.325.591 Paper Tbk Budi Acid Jaya Tbk 82.136.000.000 139.195.000.000 126.776.000.000 Colorpak Indonesia 16.042.490.231 20.300.650.602 38.226.434.931 Tbk Aneka Kemasindo -67.057.505 1.401.208.049 (12.656.973.334) Utama Tbk Asiaplast Industries 4.361.296.562 11.403.925.361 28.051.114.352 Tbk Semen Gresik 235.590.465 162.988.355 330.900.506 (Persero) Tbk Holcim Indonesia 53.300.000.000 502.873.000.000 579.831.000.000 Tbk Alumindo Light 122.211.938.663 89.130.754.945 135.604.005.492 Metal Industry Tbk Citra Tubindo Tbk 18.995.701 17.596.764 20.372.234


Lampiran vii (lanjutan) 27 28 29

Arwana Citramulia Tbk Keramika Indonesia Assosiasi Tbk Sumi Indo Kabel Tbk

29.632.076.874

58.096.209.598

67.683.711.129

186.242.525.290

29.420.446.850

27.880.477.917

34.650.469.069

22.291.476.636

(955988.952.781)

30 31 32 33

Voksel Electric Tbk 38.340.198.006 100.357.674.320 151.617.249.753 Astra Graphia Tbk 432.253.175 90.943.666.278 109.815.269.208 Multipolar Tbk 449.196.000.000 2.951.688.000.000 3.452.238.000.000 Metrodata Electronik 29.887.579.712 70.216.120.653 184.372.989.790 Tbk 34 Astra Otoparts Tbk 293.854 149.838 193.650 35 Goodyear Indonesia 29.708.083 52.973.039 51.577.231 Tbk 36 Indospring Tbk -7.824.748.711 78.152.400.355 187.933.828.179 37 Kalbe Farma Tbk 897.510.764.394 936.800.373.384 996.150.897.973 38 Kimia Farma 19.752.736.621 46.587.682.961 34.867.136.146 (Persero) Tbk 39 Mustika Ratu Tbk 5.979.353.146 12.955.661.340 16.499.888.972 40 Unilever Indonesia 2.223.222.000.000 2.566.445.000.000 3.204.449.000.000 Tbk 41 Sat Nusapersada Tbk 24.650.642.816 39.415.860.642 11.340.445.768 Sumber : Indonesian Capital Market Directory dan www.idx.co.id


Lampiran viii

Output SPSS

Tahun 2006 Correlations Return On Asset Return On Asset

Pearson Correlation

Economic Value Added 1

.055 .732

Sig. (2-tailed)

Economic Value Added

N Pearson Correlation

41

41

.055

1

.732 Sig. (2-tailed) 41

41

N **. Correlation is significant at the 0.01 level (2-tailed).

Tahun 2007 Correlations

Return On Asset



Return On Asset

Pearson Correlation

1

-.036 .823

Sig. (2-tailed)



41

41

-.036

1

.823 Sig. (2-tailed) 41

41

N

Lampiran viii (lanjutan)

Tahun 2008 Correlations Return On Asset Return On Asset

Pearson Correlation

Economic Value Added 1

.413** .587

Sig. (2-tailed)



41

41

.413**

1

.587 Sig. (2-tailed) 4

4

N **. Correlation is significant at the 0.01 level (2-tailed).


Daftar Perusahaan Sampel Manufaktur. No. Kode Nama Perusahaan

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