spreadsheet lrt-basecase 13102015 (-20%)
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No. Item Pembiayaan Biaya
I PEMBIAYAANBiaya awal proyek
1 Perencanaan (Pembuatan DED) (61,342,147,380.95)2 Pekerjaan Sipil (839,088,466,666.66)3 (582,426,000,000.00)
4 Rolling Stock (728,571,428,571.43)5 Pembebasan lahan seluas 30,36 Ha (303,600,000,000.00)
TOTAL (2,515,028,042,619.04)
Biaya operasional dan maintenance (24,536,858,952.38)6 Biaya operasional, umum dan administrasi (12,268,429,476.19)7 Biaya Pemeliharaan Stasiun (4,907,371,790.48)8 (7,361,057,685.71)
Biaya lainnya9
10 Pengembalian pinjaman (Pokok dan Bunga)
11 Life Cycle Cost12 Depresiasi
TOTAL PEMBIAYAAN
II PENDAPATAN1 Tarif2 Pemasangan iklan34 Ekuitas 20% 503,005,608,523.81 5 2,012,022,434,095.23
TOTAL PENDAPATAN
PENDAPATAN SEBELUM PAJAKPajakNET PROFITDividenPajak penghasilan untuk dividenTOTAL CASH FLOWTotal Debt ServiceDSCR
NPV Err:509KESIMPULAN Err:509IRR #VALUE!
Stasiun, Depot, Traffic Management, Utilitas Pengalihan, Sistem E&M, Jalur dll
Biaya Pemeliharaan Rolling Stock
Track Access Charge (TAC) ke pemerintah Jakarta dan Tangerang
Fasilitas check-in
Pinjaman dari sindikasi bank dalam negeri (BCA, BNI, BRI dan Mandiri) 80%
KESIMPULAN #VALUE!
Tahun2014 2015 2016
(61,342,147,380.95)0.00 (587,361,926,666.66) (251,726,540,000.00)0.00 (407,698,200,000.00) (174,727,800,000.00)
0.00 (510,000,000,000.00) (218,571,428,571.43)(303,600,000,000.00) 0.00 0.00
0.00 0.00 0.000.00 0.00 0.000.00 0.00 0.00
Err:509 (405,863,011,769.48)
### Err:509 ###
2,014.00 2,015.00 2,016.000.00 0.00 0.000.00 0.00 0.00
364,942,147,380.95 138,063,461,142.86 0.000.00 2,012,022,434,095.23 0.00
364,942,149,394.95 2,150,085,897,253.09 2,016.00
2,014.00 Err:509 ###
2,014.00 Err:509 ###
2,014.00 Err:509 ###Err:509 (405,863,011,769.48)
Tahun2017 2018 2019
0.00 0.00 0.000.00 0.00 0.00
0.00 0.00 0.000.00 0.00 0.00
(12,268,429,476.19) (13,803,816,402.36) (15,531,356,123.44)(4,907,371,790.48) (5,521,526,560.94) (6,212,542,449.38)(7,361,057,685.71) (8,282,289,841.41) (9,318,813,674.06)
(4,410,624,960.00) (4,410,624,960.00) (4,851,687,456.00)
(405,863,011,769.48) (811,726,023,538.95) (771,139,722,362.01)
(385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15)(819,924,449,528.01) ### ###
2,017.00 2,018.00 2,019.00674,277,227,520.00 701,248,316,620.80 645,470,864,310.27
25,776,000,000.00 25,776,000,000.00 25,776,000,000.000.00 0.00 0.000.00 0.00 0.00
700,053,229,537.00 727,024,318,638.80 671,246,866,329.27
(119,871,219,991.01) (501,833,916,511.02) (520,921,209,581.77)Err:509 Err:509 Err:509
Err:509 Err:509 Err:509Err:509 Err:509 0.00 Err:509 Err:509 0.00
Err:509 Err:509 Err:509(405,863,011,769.48) (811,726,023,538.95) (771,139,722,362.01)
Err:509 Err:509 Err:509
Tahun2020 2021 2022
0.00 0.00 0.000.00 0.00 0.00
0.00 0.00 0.000.00 0.00 0.00
(17,475,096,451.72) (19,662,094,769.44) (22,122,794,674.73)(6,990,038,580.69) (7,864,837,907.78) (8,849,117,869.89)
(10,485,057,871.03) (11,797,256,861.67) (13,273,676,804.84)
(4,851,687,456.00) (5,336,856,201.60) (5,336,856,201.60)
(730,553,421,185.06) (689,967,120,008.11) (649,380,818,831.16)
(3,495,019,290.34)(385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15)
### ### ###
2,020.00 2,021.00 2,022.00671,289,698,882.68 767,955,415,521.79 798,673,632,142.66
25,776,000,000.00 28,353,600,000.00 28,353,600,000.000.00 0.00 0.000.00 0.00 0.00
697,065,700,902.68 796,309,017,542.79 827,027,234,164.66
(461,898,573,778.32) (323,433,102,051.96) (257,049,984,063.72)Err:509 Err:509 Err:509
Err:509 Err:509 Err:509Err:509 Err:509 Err:509Err:509 Err:509 Err:509
Err:509 Err:509 Err:509(730,553,421,185.06) (689,967,120,008.11) (649,380,818,831.16)
Err:509 Err:509 Err:509
Tahun2023 2024 2025
0.00 0.00 0.000.00 0.00 0.00
0.00 0.00 0.000.00 0.00 0.00
(24,891,449,764.59) (28,006,600,454.10) (31,511,610,469.20)(9,956,579,905.84) (11,202,640,181.64) (12,604,644,187.68)
(14,934,869,858.76) (16,803,960,272.46) (18,906,966,281.52)
(5,870,541,821.76) (5,870,541,821.76) (6,457,596,003.94)
(608,794,517,654.21) (568,208,216,477.27) (527,621,915,300.32)
(5,601,320,090.82)(385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15)
### ### (982,216,686,088.82)
2,023.00 2,024.00 2,025.00830,620,577,428.37 863,845,400,525.50 988,239,138,201.18
28,353,600,000.00 28,353,600,000.00 31,188,960,000.000.00 0.00 0.000.00 0.00 0.00
858,974,179,451.37 892,199,002,549.50 1,019,428,100,226.17
(190,587,733,399.95) (128,608,230,594.70) 37,211,414,137.36 Err:509 Err:509 Err:509
Err:509 Err:509 Err:509Err:509 Err:509 Err:509Err:509 Err:509 Err:509
Err:509 Err:509 Err:509(608,794,517,654.21) (568,208,216,477.27) (527,621,915,300.32)
Err:509 Err:509 Err:509
Tahun2026 2027 2028
0.00 0.00 0.000.00 0.00 0.00
0.00 0.00 0.000.00 0.00 0.00
(35,455,270,481.33) (39,892,477,286.53) (44,884,997,983.41)(14,182,108,192.53) (15,956,990,914.61) (17,953,999,193.37)(21,273,162,288.80) (23,935,486,371.92) (26,930,998,790.05)
(6,457,596,003.94) (7,103,355,604.33) (7,103,355,604.33)
(487,035,614,123.37) (446,449,312,946.42) 0.00
(8,976,999,596.68)(385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15)
(949,517,704,936.13) (918,451,576,969.96) (490,964,305,014.00)
2,026.00 2,027.00 2,028.001,027,768,703,729.22 1,068,879,451,878.39 1,111,634,629,953.53
31,188,960,000.00 31,188,960,000.00 31,188,960,000.000.00 0.00 0.000.00 0.00 0.00
1,058,957,665,755.22 1,100,068,413,905.39 1,142,823,591,981.53
109,439,960,819.09 181,616,836,935.43 651,859,286,967.53 Err:509 Err:509 Err:509
Err:509 Err:509 Err:509Err:509 Err:509 Err:509Err:509 Err:509 Err:509
Err:509 Err:509 Err:509(487,035,614,123.37) (446,449,312,946.42) 0.00
Err:509 Err:509 Err:509
No. Item Pembiayaan Biaya
I PEMBIAYAANBiaya awal proyek
1 Perencanaan (Pembuatan DED) (61,342,147,380.95)2 Pekerjaan Sipil (839,088,466,666.66)3 (582,426,000,000.00)
4 Rolling Stock (728,571,428,571.43)5 Pembebasan lahan seluas 30,36 Ha (303,600,000,000.00)
TOTAL (2,515,028,042,619.04)
Biaya operasional dan maintenance (24,536,858,952.38)6 Biaya operasional, umum dan administrasi (12,268,429,476.19)7 Biaya Pemeliharaan Stasiun (4,907,371,790.48)8 (7,361,057,685.71)
Biaya lainnya9
10 Pengembalian pinjaman (Pokok dan Bunga)
11 Life Cycle Cost12 Depresiasi
TOTAL PEMBIAYAAN
II PENDAPATAN1 Tarif2 Pemasangan iklan34 Ekuitas 20% 503,005,608,523.81 5 2,012,022,434,095.23
TOTAL PENDAPATAN
PENDAPATAN SEBELUM PAJAKPajakNET PROFITDividenPajak penghasilan untuk dividenTOTAL CASH FLOWTotal Debt ServiceDSCR
NPV Err:509KESIMPULAN Err:509IRR #VALUE!
Stasiun, Depot, Traffic Management, Utilitas Pengalihan, Sistem E&M, Jalur dll
Biaya Pemeliharaan Rolling Stock
Track Access Charge (TAC) ke pemerintah Jakarta dan Tangerang
Fasilitas check-in
Pinjaman dari sindikasi bank dalam negeri (BCA, BNI, BRI dan Mandiri) 80%
KESIMPULAN #VALUE!
Tahun2014 2015 2016
(61,342,147,380.95)0.00 (587,361,926,666.66) (251,726,540,000.00)0.00 (407,698,200,000.00) (174,727,800,000.00)
0.00 (510,000,000,000.00) (218,571,428,571.43)(303,600,000,000.00) 0.00 0.00
0.00 0.00 0.000.00 0.00 0.000.00 0.00 0.00
Err:509 (405,863,011,769.48)
### Err:509 ###
2,014.00 2,015.00 2,016.000.00 0.00 0.000.00 0.00 0.00
364,942,147,380.95 138,063,461,142.86 0.000.00 2,012,022,434,095.23 0.00
364,942,149,394.95 2,150,085,897,253.09 2,016.00
2,014.00 Err:509 ###
2,014.00 Err:509 ###
2,014.00 Err:509 ###Err:509 (405,863,011,769.48)
Tahun2017 2018 2019
0.00 0.00 0.000.00 0.00 0.00
0.00 0.00 0.000.00 0.00 0.00
(12,268,429,476.19) (13,803,816,402.36) (15,531,356,123.44)(4,907,371,790.48) (5,521,526,560.94) (6,212,542,449.38)(7,361,057,685.71) (8,282,289,841.41) (9,318,813,674.06)
(4,410,624,960.00) (4,410,624,960.00) (4,851,687,456.00)
(405,863,011,769.48) (811,726,023,538.95) (771,139,722,362.01)
(385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15)(819,924,449,528.01) ### ###
2,017.00 2,018.00 2,019.00674,277,227,520.00 701,248,316,620.80 645,470,864,310.27
25,776,000,000.00 25,776,000,000.00 25,776,000,000.000.00 0.00 0.000.00 0.00 0.00
700,053,229,537.00 727,024,318,638.80 671,246,866,329.27
(119,871,219,991.01) (501,833,916,511.02) (520,921,209,581.77)Err:509 Err:509 Err:509
Err:509 Err:509 Err:509Err:509 Err:509 0.00 Err:509 Err:509 0.00
Err:509 Err:509 Err:509(405,863,011,769.48) (811,726,023,538.95) (771,139,722,362.01)
Err:509 Err:509 Err:509
Tahun2020 2021 2022
0.00 0.00 0.000.00 0.00 0.00
0.00 0.00 0.000.00 0.00 0.00
(17,475,096,451.72) (19,662,094,769.44) (22,122,794,674.73)(6,990,038,580.69) (7,864,837,907.78) (8,849,117,869.89)
(10,485,057,871.03) (11,797,256,861.67) (13,273,676,804.84)
(4,851,687,456.00) (5,336,856,201.60) (5,336,856,201.60)
(730,553,421,185.06) (689,967,120,008.11) (649,380,818,831.16)
(3,495,019,290.34)(385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15)
### ### ###
2,020.00 2,021.00 2,022.00671,289,698,882.68 767,955,415,521.79 798,673,632,142.66
25,776,000,000.00 28,353,600,000.00 28,353,600,000.000.00 0.00 0.000.00 0.00 0.00
697,065,700,902.68 796,309,017,542.79 827,027,234,164.66
(461,898,573,778.32) (323,433,102,051.96) (257,049,984,063.72)Err:509 Err:509 Err:509
Err:509 Err:509 Err:509Err:509 Err:509 Err:509Err:509 Err:509 Err:509
Err:509 Err:509 Err:509(730,553,421,185.06) (689,967,120,008.11) (649,380,818,831.16)
Err:509 Err:509 Err:509
Tahun2023 2024 2025
0.00 0.00 0.000.00 0.00 0.00
0.00 0.00 0.000.00 0.00 0.00
(24,891,449,764.59) (28,006,600,454.10) (31,511,610,469.20)(9,956,579,905.84) (11,202,640,181.64) (12,604,644,187.68)
(14,934,869,858.76) (16,803,960,272.46) (18,906,966,281.52)
(5,870,541,821.76) (5,870,541,821.76) (6,457,596,003.94)
(608,794,517,654.21) (568,208,216,477.27) (527,621,915,300.32)
(5,601,320,090.82)(385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15)
### ### (982,216,686,088.82)
2,023.00 2,024.00 2,025.00830,620,577,428.37 863,845,400,525.50 988,239,138,201.18
28,353,600,000.00 28,353,600,000.00 31,188,960,000.000.00 0.00 0.000.00 0.00 0.00
858,974,179,451.37 892,199,002,549.50 1,019,428,100,226.17
(190,587,733,399.95) (128,608,230,594.70) 37,211,414,137.36 Err:509 Err:509 Err:509
Err:509 Err:509 Err:509Err:509 Err:509 Err:509Err:509 Err:509 Err:509
Err:509 Err:509 Err:509(608,794,517,654.21) (568,208,216,477.27) (527,621,915,300.32)
Err:509 Err:509 Err:509
Tahun2026 2027 2028
0.00 0.00 0.000.00 0.00 0.00
0.00 0.00 0.000.00 0.00 0.00
(35,455,270,481.33) (39,892,477,286.53) (44,884,997,983.41)(14,182,108,192.53) (15,956,990,914.61) (17,953,999,193.37)(21,273,162,288.80) (23,935,486,371.92) (26,930,998,790.05)
(6,457,596,003.94) (7,103,355,604.33) (7,103,355,604.33)
(487,035,614,123.37) (446,449,312,946.42) 0.00
(8,976,999,596.68)(385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15)
(949,517,704,936.13) (918,451,576,969.96) (490,964,305,014.00)
2,026.00 2,027.00 2,028.001,027,768,703,729.22 1,068,879,451,878.39 1,111,634,629,953.53
31,188,960,000.00 31,188,960,000.00 31,188,960,000.000.00 0.00 0.000.00 0.00 0.00
1,058,957,665,755.22 1,100,068,413,905.39 1,142,823,591,981.53
109,439,960,819.09 181,616,836,935.43 651,859,286,967.53 Err:509 Err:509 Err:509
Err:509 Err:509 Err:509Err:509 Err:509 Err:509Err:509 Err:509 Err:509
Err:509 Err:509 Err:509(487,035,614,123.37) (446,449,312,946.42) 0.00
Err:509 Err:509 Err:509
a Menurut UU No.36 tahun 2008 Pasal 17 ayat 1b, Wajib pajak badan dalam negeri dan badan usaha tetap sebesar 28% dari pendapatan sebelum pajak
b
c Maka, besaran penghasilan kena pajak =d Besar pajak =
Untuk penghasilan sebelum pajak Rp 4,8 M - Rp 50 M, menggunakan rumus :(0,25 -(0,6 Miliar/Penghasilan sebelum pajak)) x Penghasilan kena pajak
Untuk penghasilan sebelum pajak > Rp 50 M, menggunakan rumus :25% x Penghasilan kena pajak
No. Tahun Pendapatan sebelum pajak Penghasilan kena pajak
3 2017 (405,863,011,769.48) (56,820,821,647.73)4 2018 (405,863,011,769.48) (56,820,821,647.73)5 2019 (79,192,754,665.11) (11,086,985,653.11)6 2020 (14,105,033,648.16) (1,974,704,710.74)7 2021 50,986,187,368.79 7,138,066,231.63 8 2022 153,031,039,137.74 21,424,345,479.28 9 2023 147,947,651,513.66 20,712,671,211.91
10 2024 (72,772,007,364.58) (10,188,081,031.04)11 2025 134,108,738,496.85 18,775,223,389.56 12 2026 114,511,282,247.36 16,031,579,514.63 13 2027 90,857,122,857.39 12,719,997,200.04 14 2028 244,178,235,288.87 34,184,952,940.44
JUMLAH
Menurut Pasal 31E ayat 1, bagi wajib pajak badan usaha yang peredaran brutonya sampai dengan Rp 50 M, dapat mendapatkan fasilitas berupa pengurangan tarif sampai dengan 50% dari yang telah ditetapkan pada pasal 17 ayat 1b
Menurut UU No.36 tahun 2008 Pasal 17 ayat 1b, Wajib pajak badan dalam negeri dan badan usaha tetap sebesar 28% dari pendapatan sebelum pajak
Maka, besaran penghasilan kena pajak = 28% x 50% x Penghasilan sebelum pajakBesar pajak =Untuk penghasilan sebelum pajak Rp 4,8 M - Rp 50 M, menggunakan rumus :(0,25 -(0,6 Miliar/Penghasilan sebelum pajak)) x Penghasilan kena pajak
Besar pajak
(14,205,205,411.93) 3.50 (14,205,205,411.93) 3.50
(2,855,746,413.28) 3.61 (577,676,177.69) 4.10
1,784,516,557.91 3.50 5,356,086,369.82 3.50 5,178,167,802.98 3.50
(2,547,020,257.76) 3.50 4,693,805,847.39 3.50 4,007,894,878.66 3.50 3,179,999,300.01 3.50 8,546,238,235.11 3.50
(1,644,144,680.72)
Menurut Pasal 31E ayat 1, bagi wajib pajak badan usaha yang peredaran brutonya sampai dengan Rp 50 M, dapat mendapatkan fasilitas berupa pengurangan tarif sampai dengan 50% dari yang telah ditetapkan pada pasal 17 ayat 1b
28% x 50% x Penghasilan sebelum pajak
Kondisi Base Case
Cost of Debt (CoD)Tingkat suku bunga 10.00%Pajak yang berlaku 7.50%CoD = Tingkat suku bunga x (1-pajak yang berlaku)
CoD = 9.25%
Cost of Equity (CoE)Berdasarkan Surat Utang Negara 2010 diasumsikan :Risk free rate 7.92%Beta 1.38%Equity risk premium 7.50%Country risk premium 0.00%Spesific risk 2.00%
CoE = 10.02%
WACCWACC debtCoD = 9.25%Weight debt = 30%WACC debt = CoD x Weight debt
WACC debt = 2.78%
WACC equityCoE = 10.02%Weight equity = 70%WACC equity = CoE x Weight equity
WACC equity = 7.01%
TOTAL WACC = WACC debt + WACC equityTOTAL WACC = 9.79%
WACC LRT
premium) + Country risk premium + Spesific risk
Pendanaan LRTKondisi Base Case
No. Item Pembiayaan Biaya2015 2016 2017 2018
I PEMBIAYAANBiaya awal proyek
1 Perencanaan (Pembuatan DED) (191,808,000,000.00) (191,808,000,000.00) 0.00 0.00 0.002 Pekerjaan Sipil (7,197,843,000,000.00) 0.00 0.00 (5,038,490,100,000.00) (2,159,352,900,000.00)3 (1,732,144,500,000.00) 0.00 0.00 (1,212,501,150,000.00) (519,643,350,000.00)
4 Rolling Stock (3,586,216,000,000.00) 0.00 0.00 (2,510,351,200,000.00) (1,075,864,800,000.00)5 Pembebasan lahan seluas 4 Ha (80,000,000,000.00) 0.00 (80,000,000,000.00) 0.00 0.00
TOTAL (12,788,011,500,000.00)
Biaya operasional dan maintenance (127,880,115,000.00)6 Biaya operasional, umum dan administrasi (63,940,057,500.00) 0.00 0.00 0.00 0.00 7 Biaya Pemeliharaan Stasiun (25,576,023,000.00) 0.00 0.00 0.00 0.00 8 (38,364,034,500.00) 0.00 0.00 0.00 0.00
Biaya lainnya9 Pengembalian pinjaman (Pokok dan Bunga) 0.00 0.00 (405,863,011,769.48) (405,863,011,769.48)
10 Life Cycle Cost 0.00 0.00 0.00 0.00 11 Depresiasi 0.00 0.00 0.00 0.00
TOTAL PEMBIAYAAN (191,808,000,000.00) (80,000,000,000.00) (9,167,205,461,769.48) (4,160,724,061,769.48)
II PENDAPATAN1 APBN (Untuk pembebasan tanah) 80,000,000,000.00 80,000,000,000.00
Kebutuhan Pendapatan 13,528,767,058,982.50 2 Ekuitas 70% 9,470,136,941,287.77
PT. Pembangunan Jaya (62%) 5,883,920,941,287.77 191,808,000,000.00 0.00 4,871,357,382,305.24 0.00Mitsubishi Electric Co (38%) 3,586,216,000,000.00 0.00 0.00 2,510,351,200,000.00 1,075,864,800,000.00
3 Pinjaman 30% 4,058,630,117,694.76 0.00 0.00 1,379,633,867,694.76 2,678,996,250,000.00
Pendapatan Rutin 4,735,068,470,643.894 Tarif 0.00 0.00 0.00 0.005 Pemasangan iklan 0.00 0.00 0.00 0.006 Sewa properti 0.00 0.00 0.00 0.007 Parkir 0.00 0.00 0.00 0.00
TOTAL PENDAPATAN 191,808,000,000.00 80,000,000,000.00 8,761,342,450,000.00 3,754,861,050,000.00
Sistem persignalan, traffic management, Sistem M&E
Biaya Pemeliharaan Rolling Stock
No. Item Pembiayaan Biaya2015 2016 2017 2018
PENDAPATAN SEBELUM PAJAK 0.00 0.00 (405,863,011,769.48) (405,863,011,769.48)Biaya konsesi dengan Pemerintah 0.00 0.00 0.00 0.00Pajak 0.00 0.00 0.00 0.00NET PROFIT 0.00 0.00 (405,863,011,769.48) (405,863,011,769.48)Dividen 0.00 0.00 0.00 0.00Pajak penghasilan untuk dividen 0.00 0.00 0.00 0.00TOTAL CASH FLOW 0.00 0.00 (405,863,011,769.48) (405,863,011,769.48)Total Debt Service 0.00 0.00 (405,863,011,769.48) (405,863,011,769.48)DSCR
NPV Rp172,078,160,780.55 KESIMPULAN Investasi layak dilakukanIRR 11.90%KESIMPULAN Investasi layak dilakukan
Pendanaan LRTKondisi Base Case
2019 2020 2021 2022 2023 2024 2025
0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00
(63,940,057,500.00) (71,942,119,095.12) (80,945,634,118.28) (91,075,933,892.74) (102,474,034,885.12) (115,298,601,692.11) (129,728,155,693.87)(25,576,023,000.00) (28,776,847,638.05) (32,378,253,647.31) (36,430,373,557.10) (40,989,613,954.05) (46,119,440,676.84) (51,891,262,277.55)(38,364,034,500.00) (43,165,271,457.07) (48,567,380,470.97) (54,645,560,335.64) (61,484,420,931.07) (69,179,161,015.26) (77,836,893,416.32)
(811,726,023,538.95) (771,139,722,362.01) (730,553,421,185.06) (689,967,120,008.11) (649,380,818,831.16) (608,794,517,654.21) (568,208,216,477.27)0.00 0.00 0.00 0.00 (20,494,806,977.02) 0.00 0.00
(385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15)### ### ### ### ### ### ###
127,880,115,000.00 143,884,238,190.25 161,891,268,236.57 182,151,867,785.48 204,948,069,770.23 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00
1,076,558,202,720.00 1,100,218,822,560.00 1,123,879,442,400.00 1,184,214,022,992.00 1,158,187,341,168.00 1,106,133,977,520.00 1,300,151,060,208.0038,540,000,000.00 39,310,800,000.00 40,081,600,000.00 40,852,400,000.00 41,623,200,000.00 42,394,000,000.00 43,164,800,000.00
1,400,000,000.00 1,470,000,000.00 1,543,500,000.00 1,620,000,000.00 1,701,000,000.00 1,780,000,000.00 1,869,000,000.001,149,020,000.00 1,149,020,000.00 1,149,020,000.00 1,425,690,000.00 1,425,690,000.00 1,425,690,000.00 1,702,360,000.00
1,245,527,337,720.00 1,286,032,880,750.25 1,328,544,830,636.57 1,410,263,980,777.48 1,407,885,300,938.23 1,151,733,667,520.00 1,346,887,220,208.00
2019 2020 2021 2022 2023 2024 2025
(79,192,754,665.11) (14,105,033,648.16) 50,986,187,368.79 153,031,039,137.74 147,947,651,513.66 (72,772,007,364.58) 134,108,738,496.85 0.00 352,625,841.20 (1,274,654,684.22) (3,825,775,978.44) (3,698,691,287.84) 1,819,300,184.11 (3,352,718,462.42)0.00 1,057,877,523.61 (3,823,964,052.66) (11,477,327,935.33) (11,096,073,863.52) 5,457,900,552.34 (10,058,155,387.26)
(79,192,754,665.11) (12,694,530,283.34) 45,887,568,631.91 137,727,935,223.96 133,152,886,362.30 (65,494,806,628.12) 120,697,864,647.16 0.00 3,173,632,570.84 (11,471,892,157.98) (34,431,983,805.99) (33,288,221,590.57) 16,373,701,657.03 (30,174,466,161.79)0.00 476,044,885.63 (1,720,783,823.70) (5,164,797,570.90) (4,993,233,238.59) 2,456,055,248.55 (4,526,169,924.27)
(79,192,754,665.11) (9,044,852,826.88) 32,694,892,650.24 98,131,153,847.07 94,871,431,533.14 (46,665,049,722.54) 85,997,228,561.10 (811,726,023,538.95) (771,139,722,362.01) (730,553,421,185.06) (689,967,120,008.11) (649,380,818,831.16) (608,794,517,654.21) (568,208,216,477.27)
0.10 0.01 0.04 0.14 0.15 0.08 0.15
Pendanaan LRTKondisi Base Case
2026 2027 2028 2029 2030 2031 2032
0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00
(145,963,560,119.09) (164,230,816,114.54) (184,784,208,741.16) (207,909,846,689.69) (233,929,644,989.74) (263,205,806,152.62) (296,145,862,126.57)(58,385,424,047.63) (65,692,326,445.82) (73,913,683,496.46) (83,163,938,675.88) (93,571,857,995.90) (105,282,322,461.05) (118,458,344,850.63)(87,578,136,071.45) (98,538,489,668.72) (110,870,525,244.70) (124,745,908,013.81) (140,357,786,993.85) (157,923,483,691.57) (177,687,517,275.94)
(527,621,915,300.32) (487,035,614,123.37) (446,449,312,946.42) 0.00 0.00 0.00 0.00 0.00 0.00 (36,956,841,748.23) 0.00 0.00 0.00 0.00
(385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15)### ### (1,238,088,526,023.13) (800,933,647,225.53) (852,973,243,825.64) (911,525,566,151.39) (977,405,678,099.30)
0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00
1,271,576,311,632.00 1,243,001,563,056.00 1,432,650,531,312.00 1,464,137,356,176.00 1,401,163,706,448.00 1,504,269,407,520.00 1,469,688,501,600.0043,935,600,000.00 44,706,400,000.00 45,477,200,000.00 46,248,000,000.00 47,018,800,000.00 47,789,600,000.00 48,560,400,000.00
1,960,000,000.00 2,058,000,000.00 2,160,000,000.00 2,268,000,000.00 2,381,400,000.00 2,500,000,000.00 2,625,000,000.001,702,360,000.00 1,702,360,000.00 1,979,030,000.00 1,979,030,000.00 1,979,030,000.00 2,255,700,000.00 2,255,700,000.00
1,319,174,271,632.00 1,291,468,323,056.00 1,482,266,761,312.00 1,514,632,386,176.00 1,452,542,936,448.00 1,556,814,707,520.00 1,523,129,601,600.00
2026 2027 2028 2029 2030 2031 2032
114,511,282,247.36 90,857,122,857.39 244,178,235,288.87 713,698,738,950.47 599,569,692,622.36 645,289,141,368.61 545,723,923,500.71 (2,862,782,056.18) (2,271,428,071.43) (6,104,455,882.22) (17,842,468,473.76) (14,989,242,315.56) (16,132,228,534.22) (13,643,098,087.52)(8,588,346,168.55) (6,814,284,214.30) (18,313,367,646.67) (53,527,405,421.29) (44,967,726,946.68) (48,396,685,602.65) (40,929,294,262.55)
103,060,154,022.62 81,771,410,571.65 219,760,411,759.98 642,328,865,055.42 539,612,723,360.12 580,760,227,231.75 491,151,531,150.64 (25,765,038,505.65) (20,442,852,642.91) (54,940,102,940.00) (160,582,216,263.86) (134,903,180,840.03) (145,190,056,807.94) (122,787,882,787.66)
(3,864,755,775.85) (3,066,427,896.44) (8,241,015,441.00) (24,087,332,439.58) (20,235,477,126.00) (21,778,508,521.19) (18,418,182,418.15)73,430,359,741.12 58,262,130,032.30 156,579,293,378.99 457,659,316,351.99 384,474,065,394.09 413,791,661,902.62 349,945,465,944.83 (527,621,915,300.32) (487,035,614,123.37) (446,449,312,946.42) 0.00 0.00 0.00 0.00
0.14 0.12 0.35 0.00 0.00 0.00 0.00
Pendanaan LRTKondisi Base Case
2033 2034 2035 2036
0.00 0.00 0.00 0.000.00 0.00 0.00 0.000.00 0.00 0.00 0.00
0.00 0.00 0.00 0.000.00 0.00 0.00 0.00
(333,208,347,249.89) (374,909,181,170.84) (421,828,850,586.32) (474,620,489,771.07)(133,283,338,899.96) (149,963,672,468.34) (168,731,540,234.53) (189,848,195,908.43)(199,925,008,349.94) (224,945,508,702.50) (253,097,310,351.79) (284,772,293,862.64)
0.00 0.00 0.00 0.00 (66,641,669,449.98) 0.00 0.00 0.00
(385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15)(1,118,172,317,795.92) (1,134,932,316,187.83) (1,228,771,655,018.79) (1,334,354,933,388.30)
0.00 0.00 0.00 0.000.00 0.00 0.00 0.000.00 0.00 0.00 0.00
1,538,850,313,440.00 1,730,774,341,296.00 1,692,735,344,784.00 1,730,774,341,296.0049,331,200,000.00 50,102,000,000.00 50,872,800,000.00 51,643,600,000.00
2,756,000,000.00 28,940,000,000.00 30,387,000,000.00 31,900,000,000.002,255,700,000.00 2,532,370,000.00 2,532,370,000.00 2,532,370,000.00
1,593,193,213,440.00 1,812,348,711,296.00 1,776,527,514,784.00 1,816,850,311,296.00
2033 2034 2035 2036
475,020,895,644.08 677,416,395,108.17 547,755,859,765.21 482,495,377,907.70 (11,875,522,391.10) (16,935,409,877.70) (13,693,896,494.13) (12,062,384,447.69)(35,626,567,173.31) (50,806,229,633.11) (41,081,689,482.39) (36,187,153,343.08)
427,518,806,079.68 609,674,755,597.35 492,980,273,788.69 434,245,840,116.93 (106,879,701,519.92) (152,418,688,899.34) (123,245,068,447.17) (108,561,460,029.23)
(16,031,955,227.99) (22,862,803,334.90) (18,486,760,267.08) (16,284,219,004.39)304,607,149,331.77 434,393,263,363.11 351,248,445,074.44 309,400,161,083.31
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Pendanaan LRTKondisi Base Case
2037 2038 2039 2040 2041 2042 2043
0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00
(534,018,972,380.45) (600,851,141,087.11) (676,047,317,450.89) (760,654,252,242.28) (855,849,696,491.55) (962,958,796,096.19) (1,083,472,538,204.24)(213,607,588,952.18) (240,340,456,434.84) (270,418,926,980.35) (304,261,700,896.91) (342,339,878,596.62) (385,183,518,438.48) (433,389,015,281.70)(320,411,383,428.27) (360,510,684,652.27) (405,628,390,470.53) (456,392,551,345.37) (513,509,817,894.93) (577,775,277,657.72) (650,083,522,922.55)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (120,170,228,217.42) 0.00 0.00 0.00 0.00 (216,694,507,640.85)
(385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15) (385,113,953,846.15)(1,453,151,898,607.05) (1,706,986,464,237.79) (1,737,208,588,747.92) (1,906,422,458,330.72) (2,096,813,346,829.25) (2,311,031,546,038.54) (2,768,753,537,895.48)
0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00
1,946,540,993,760.00 1,904,679,897,120.00 1,862,818,800,480.00 2,003,053,474,224.00 2,095,147,886,832.00 2,049,100,680,528.00 2,302,178,310,432.0052,414,400,000.00 53,185,200,000.00 53,956,000,000.00 54,726,800,000.00 55,497,600,000.00 56,268,400,000.00 57,039,200,000.0033,495,000,000.00 35,160,000,000.00 36,918,000,000.00 38,763,900,000.00 40,700,000,000.00 42,735,000,000.00 44,860,000,000.00
2,809,040,000.00 2,809,040,000.00 2,809,040,000.00 3,085,710,000.00 3,085,710,000.00 3,085,710,000.00 3,362,380,000.002,035,259,433,760.00 1,995,834,137,120.00 1,956,501,840,480.00 2,099,629,884,224.00 2,194,431,196,832.00 2,151,189,790,528.00 2,407,439,890,432.00
2037 2038 2039 2040 2041 2042 2043
582,107,535,152.95 288,847,672,882.21 219,293,251,732.08 193,207,425,893.28 97,617,850,002.75 (159,841,755,510.54) (361,313,647,463.48)(14,552,688,378.82) (7,221,191,822.06) (5,482,331,293.30) (4,830,185,647.33) (2,440,446,250.07) 3,996,043,887.76 9,032,841,186.59 (43,658,065,136.47) (21,663,575,466.17) (16,446,993,879.91) (14,490,556,942.00) (7,321,338,750.21) 11,988,131,663.29 27,098,523,559.76
523,896,781,637.65 259,962,905,593.99 197,363,926,558.87 173,886,683,303.95 87,856,065,002.47 (143,857,579,959.49) (325,182,282,717.14)(130,974,195,409.41) (64,990,726,398.50) (49,340,981,639.72) (43,471,670,825.99) (21,964,016,250.62) 35,964,394,989.87 81,295,570,679.28
(19,646,129,311.41) (9,748,608,959.77) (7,401,147,245.96) (6,520,750,623.90) (3,294,602,437.59) 5,394,659,248.48 12,194,335,601.89 373,276,456,916.83 185,223,570,235.72 140,621,797,673.20 123,894,261,854.07 62,597,446,314.26 (102,498,525,721.13) (231,692,376,435.96)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Pendanaan LRTKondisi Base Case
2044
0.000.000.00
0.000.00
(1,219,068,506,151.82)(487,627,402,460.73)(731,441,103,691.09)
0.00 0.00
(385,113,953,846.15)(2,823,250,966,149.79)
0.000.000.00
2,352,775,635,936.0057,810,000,000.0047,103,000,000.00
3,362,380,000.002,461,051,015,936.00
2044
(362,199,950,213.79)9,054,998,755.34
27,164,996,266.03 (325,979,955,192.41)
81,494,988,798.10 12,224,248,319.72
(232,260,718,074.60)0.00 0.00
Pengembalian Pinjaman LRTKondisi Base Case
Lender : Sindikasi Bank Dalam Negeri (Bank DKI, Bank BNI dan Bank Mandiri)Pinjaman : 4,058,630,117,694.76 Bunga : 10.00%Tenor : 10Grace Period : 2 TahunPokok/thn : 405,863,011,769.48
No. Tahun Hutang Pembayaran
Pokok1 2017 (4,058,630,117,694.76) 0.00 2 2018 (4,058,630,117,694.76) 0.00 3 2019 (4,058,630,117,694.76) (405,863,011,769.48)4 2020 (3,652,767,105,925.28) (405,863,011,769.48)5 2021 (3,246,904,094,155.81) (405,863,011,769.48)6 2022 (2,841,041,082,386.33) (405,863,011,769.48)7 2023 (2,435,178,070,616.85) (405,863,011,769.48)8 2024 (2,029,315,058,847.38) (405,863,011,769.48)9 2025 (1,623,452,047,077.90) (405,863,011,769.48)
10 2026 (1,217,589,035,308.43) (405,863,011,769.48)11 2027 (811,726,023,538.95) (405,863,011,769.48)12 2028 (405,863,011,769.48) (405,863,011,769.48)13 2029 0.00 14 2030 0.00 15 2031 0.00 16 2032 0.00 17 2033 0.00 18 2034 0.00 19 2035 0.00 20 2036 0.00 21 2037 0.00 22 2038 0.00 23 2039 0.00 24 2040 0.00 25 2041 0.00 26 2042 0.00 27 2043 0.00 28 2044 0.00
JUMLAH (4,058,630,117,694.76)
Pengembalian Pinjaman LRTKondisi Base Case
Sindikasi Bank Dalam Negeri (Bank DKI, Bank BNI dan Bank Mandiri)
PembayaranJumlah Pokok + Bunga
Bunga10.00% (405,863,011,769.48) (405,863,011,769.48)10.00% (405,863,011,769.48) (405,863,011,769.48)10.00% (405,863,011,769.48) (811,726,023,538.95)10.00% (365,276,710,592.53) (771,139,722,362.01)10.00% (324,690,409,415.58) (730,553,421,185.06)10.00% (284,104,108,238.63) (689,967,120,008.11)10.00% (243,517,807,061.69) (649,380,818,831.16)10.00% (202,931,505,884.74) (608,794,517,654.21)10.00% (162,345,204,707.79) (568,208,216,477.27)10.00% (121,758,903,530.84) (527,621,915,300.32)10.00% (81,172,602,353.90) (487,035,614,123.37)10.00% (40,586,301,176.95) (446,449,312,946.42)10.00% 0.00 0.00 10.00% 0.00 0.00 10.00% 0.00 0.00 10.00% 0.00 0.00 10.00% 0.00 0.00 10.00% 0.00 0.00 10.00% 0.00 0.00 10.00% 0.00 0.00 10.00% 0.00 0.00 10.00% 0.00 0.00 10.00% 0.00 0.00 10.00% 0.00 0.00 10.00% 0.00 0.00 10.00% 0.00 0.00 10.00% 0.00 0.00 10.00% 0.00 0.00
(3,043,972,588,271.07) (7,102,602,705,965.83)
Depresiasi LRTKondisi Base Case
Item yang terdepresiasi :1 Pekerjaan Sipil2
3 Rolling StockTOTAL
Salvage Value :Waktu :Depresiasi/thn :
No. Tahun Capex
1 2019 (12,516,203,500,000.00)2 2020 (12,131,089,546,153.80)3 2021 (11,745,975,592,307.70)4 2022 (11,360,861,638,461.50)5 2023 (10,975,747,684,615.40)6 2024 (10,590,633,730,769.20)7 2025 (10,205,519,776,923.10)8 2026 (9,820,405,823,076.92)9 2027 (9,435,291,869,230.77)
10 2028 (9,050,177,915,384.61)11 2029 (8,665,063,961,538.46)12 2030 (8,279,950,007,692.30)13 2031 (7,894,836,053,846.15)14 2032 (7,509,722,099,999.99)15 2033 (7,124,608,146,153.84)16 2034 (6,739,494,192,307.69)17 2035 (6,354,380,238,461.53)18 2036 (5,969,266,284,615.38)19 2037 (5,584,152,330,769.22)20 2038 (5,199,038,376,923.07)21 2039 (4,813,924,423,076.91)22 2040 (4,428,810,469,230.76)23 2041 (4,043,696,515,384.61)24 2042 (3,658,582,561,538.45)25 2043 (3,273,468,607,692.30)26 2044 (2,888,354,653,846.14)
2045 (2,503,240,699,999.99)
Stasiun, Depot, Traffic Management, Utilitas Pengalihan, Sistem E&M, Jalur dll
Depresiasi LRTKondisi Base Case
(7,197,843,000,000.00)(1,732,144,500,000.00)
(3,586,216,000,000.00)###
2,503,240,700,000.00 26 tahun
(385,113,953,846.15)
Depresiasi Akumulasi Depresiasi
(385,113,953,846.15) (385,113,953,846.15)(385,113,953,846.15) (770,227,907,692.31)(385,113,953,846.15) (1,155,341,861,538.46)(385,113,953,846.15) (1,540,455,815,384.62)(385,113,953,846.15) (1,925,569,769,230.77)(385,113,953,846.15) (2,310,683,723,076.92)(385,113,953,846.15) (2,695,797,676,923.08)(385,113,953,846.15) (3,080,911,630,769.23)(385,113,953,846.15) (3,466,025,584,615.38)(385,113,953,846.15) (3,851,139,538,461.54)(385,113,953,846.15) (4,236,253,492,307.69)(385,113,953,846.15) (4,621,367,446,153.85)(385,113,953,846.15) (5,006,481,400,000.00)(385,113,953,846.15) (5,391,595,353,846.16)(385,113,953,846.15) (5,776,709,307,692.31)(385,113,953,846.15) (6,161,823,261,538.46)(385,113,953,846.15) (6,546,937,215,384.62)(385,113,953,846.15) (6,932,051,169,230.77)(385,113,953,846.15) (7,317,165,123,076.93)(385,113,953,846.15) (7,702,279,076,923.08)(385,113,953,846.15) (8,087,393,030,769.24)(385,113,953,846.15) (8,472,506,984,615.39)(385,113,953,846.15) (8,857,620,938,461.54)(385,113,953,846.15) (9,242,734,892,307.70)(385,113,953,846.15) (9,627,848,846,153.85)(385,113,953,846.15) (10,012,962,800,000.00)SALVAGE VALUE
Kondisi Base Case
a Asumsi besaran penghasilan kena pajak (pkp) = 30% x Pendapatan sebelum pajakb Besar pajak =
Untuk penghasilan sebelum pajak Rp 4,8 M - Rp 50 M, menggunakan rumus :(25% -(0,6 Miliar/Pendapatan sebelum pajak)) x Penghasilan kena pajak
Untuk penghasilan sebelum pajak > Rp 50 M, menggunakan rumus :25% x Penghasilan kena pajak
No. Tahun Pendapatan sebelum pajak Penghasilan kena pajak
1 2019 (79,192,754,665.11) 0.00 2 2020 (14,105,033,648.16) (4,231,510,094.45)3 2021 50,986,187,368.79 15,295,856,210.64 4 2022 153,031,039,137.74 45,909,311,741.32 5 2023 147,947,651,513.66 44,384,295,454.10 6 2024 (72,772,007,364.58) (21,831,602,209.37)7 2025 134,108,738,496.85 40,232,621,549.05 8 2026 114,511,282,247.36 34,353,384,674.21 9 2027 90,857,122,857.39 27,257,136,857.22 10 2028 244,178,235,288.87 73,253,470,586.66 11 2029 713,698,738,950.47 214,109,621,685.14 12 2030 599,569,692,622.36 179,870,907,786.71 13 2031 645,289,141,368.61 193,586,742,410.58 14 2032 545,723,923,500.71 163,717,177,050.21 15 2033 475,020,895,644.08 142,506,268,693.23 16 2034 677,416,395,108.17 203,224,918,532.45 17 2035 547,755,859,765.21 164,326,757,929.56 18 2036 482,495,377,907.70 144,748,613,372.31 19 2037 582,107,535,152.95 174,632,260,545.88 20 2038 288,847,672,882.21 86,654,301,864.66 21 2039 219,293,251,732.08 65,787,975,519.62 22 2040 193,207,425,893.28 57,962,227,767.98 23 2041 97,617,850,002.75 29,285,355,000.82 24 2042 (159,841,755,510.54) (47,952,526,653.16)25 2043 (361,313,647,463.48) (108,394,094,239.05)26 2044 (362,199,950,213.79) (108,659,985,064.14)
JUMLAH
Corporate Tax LRT
Kondisi Base Case
Asumsi besaran penghasilan kena pajak (pkp) = 30% x Pendapatan sebelum pajakBesar pajak =Untuk penghasilan sebelum pajak Rp 4,8 M - Rp 50 M, menggunakan rumus :(25% -(0,6 Miliar/Pendapatan sebelum pajak)) x Penghasilan kena pajak
Besar pajak
0.00 (1,057,877,523.61)3,823,964,052.66
11,477,327,935.33 11,096,073,863.52 (5,457,900,552.34)10,058,155,387.26
8,588,346,168.55 6,814,284,214.30
18,313,367,646.67 53,527,405,421.29 44,967,726,946.68 48,396,685,602.65 40,929,294,262.55 35,626,567,173.31 50,806,229,633.11 41,081,689,482.39 36,187,153,343.08 43,658,065,136.47 21,663,575,466.17 16,446,993,879.91 14,490,556,942.00
7,321,338,750.21 (11,988,131,663.29)(27,098,523,559.76)(27,164,996,266.03)
452,507,371,743.05
Corporate Tax LRT
Kondisi Base Case
Hutang = (4,058,630,117,694.76)
No. Tahun Hutang
1 2017 (4,058,630,117,694.76) (405,863,011,769.48)2 2018 (405,863,011,769.48)3 2019 (79,192,754,665.11)4 2020 (9,044,852,826.88)5 2021 32,694,892,650.24 6 2022 98,131,153,847.07 7 2023 94,871,431,533.14 8 2024 (46,665,049,722.54)9 2025 85,997,228,561.10
10 2026 73,430,359,741.12 11 2027 58,262,130,032.30 12 2028 156,579,293,378.99 13 2029 457,659,316,351.99 14 2030 384,474,065,394.09 15 2031 413,791,661,902.62 16 2032 349,945,465,944.83 17 2033 304,607,149,331.77 18 2034 434,393,263,363.11 19 2035 351,248,445,074.44 20 2036 309,400,161,083.31 21 2037 373,276,456,916.83 22 2038 185,223,570,235.72 23 2039 140,621,797,673.20 24 2040 123,894,261,854.07 25 2041 62,597,446,314.26 26 2042 (102,498,525,721.13)27 2043 (231,692,376,435.96)28 2044 (232,260,718,074.60)
Payback Periode LRT
Total cash flow
Kondisi Base Case
Jumlah sisa hutang Keterangan
(4,464,493,129,464.24)(4,870,356,141,233.71)(4,949,548,895,898.82)(4,958,593,748,725.70)(4,925,898,856,075.46)(4,827,767,702,228.39)(4,732,896,270,695.25)(4,779,561,320,417.79)(4,693,564,091,856.69)(4,620,133,732,115.57)(4,561,871,602,083.27)(4,405,292,308,704.28)(3,947,632,992,352.29)(3,563,158,926,958.20)(3,149,367,265,055.58)(2,799,421,799,110.76)(2,494,814,649,778.99)(2,060,421,386,415.88)(1,709,172,941,341.44)(1,399,772,780,258.13)(1,026,496,323,341.30)
(841,272,753,105.58)(700,650,955,432.39)(576,756,693,578.32)(514,159,247,264.06)(616,657,772,985.20)(848,350,149,421.15)
(1,080,610,867,495.75)
Payback Periode LRT
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