The industrial area in the eastern corridor of Jakarta

The industrial area in the eastern corridor of Jakarta, Bekasi, and Karawang, dominate the market throughout 2014. This is possible because the infrastructure is ready, rather than in the western corridor as Serang and Cilegon, Banten. Moreover, road infrastructure development plan Cikampek-palimanan that could hoist the higher demand. “The implication, the new supply of industrial land ready-wake of a new industrial area in Karachi which entered the market in the first quarter of 2015 will increase to 10,700 hectares. Despite soaring demand, but the average size of the demand will be smaller than last year, which is only about 3, 2 acres per transaction. While demand in the last quarter of 2014 nearly covering 75 Ha.

In general, demand throughout 2014 is better than the demand in 2013, an increase of 28 percent. The level of demand in 2014 was recorded as the first positive growth since three years ago. The majority of the land demand still comes from the automotive industry, especially those from Japan. “Large automotive plant, for example from Japan, already here. There is no estimate of the average selling price of industrial land, will have increased to around Rp 2.3 million per square meter. This figure grew by 15 percent per quarter, or about 20 percent per year. Strengthening demand is expected to continue into next year. However, the average size per transaction will remain low, due to the absence of major demand driver who will enter the market in 2015

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Cigarette Industry in Indonesia in General

Cigarette Market Share: Smokers in Indonesia was ranked third largest in the world. More than 60 million people in Indonesia smoke. Cigarette consumption in 2008 reached 240 billion cigarettes, or 658 million cigarettes per day. This means money worth Rp.330 billion “burned” in a day smoker. Indonesia’s cigarette market share dominated by three large companies. Gudang Garam 2001 ranked first (32%), followed by Djarum (25%) and HM Sampoerna (19%) in the third (AC Nielsen, 2003). After Sampoerna bought by Philip Morris in 2005, the first quarter of 2007 the market share of Sampoerna-Philip Morris has been ranked first beat Gudang Garam and Djarum. Data beginning in 2009 the market share controlled by three giant cigarettes: the Sampoerna-Philip Morris (29%), Gudang Garam (21.1%) and Djarum (19.4%). In the same year the BAT bought Bentoel.

Cigarette Industry Oligopoly: Cigarettes are a commodity market cigarette oligopoly where most (75%) were controlled by a few large industries. As a result, the major industries have the discretion to determine the price of raw materials of cigarettes (tobacco leaf). Small cigarette industry is also in a weak position. As a result, unable to compete with the big tobacco industry that have large capital. High professionalism and the ability to advertise the massive, it caused a lot of small tobacco industry go bankrupt.

Agriculture and Farmers Tobacco: Large proportion of tobacco farmland land area of annual crops for 40 years (1961-2001) is a constant 1.2%. Agricultural area in absolute tobacco user for the year 2002-2005 from 261 thousand hectares (2002) to be 198 thousand hectares (2005) or down almost a quarter. Although tobacco cultivation acreage decreased, cigarette production increased rapidly market the same period. 1961 production of 35 billion cigarettes to 135 billion sticks tahun2005 trunk. While cigarette production increased nearly 7-fold, decreased tobacco crop land area. This indicates fulfillment supply met from imported tobacco leaves. Tobacco farmers in Indonesia are 684 thousand people (MOA, 2006) or 1.6% of total agricultural workers (42 million). This number decreased from the previous 4 years, ie 913 thousand in 2001 Agricultural tobacco is not a full time job where tobacco farmers is not a full time job where tobacco farmers do not rely on tobacco entire livelihood.

Cigarette Industry Workers and Wages: Total cigarette industry workers in 2004 was 259 thousand people or 1.2% of total industrial workers. This number decreased from 1995 amounted to 346 thousand people. Total cigarette industry workers declines with age mechanization. During 2006, the average monthly salary of the tobacco industry is Rp 670 thousand. This wage is lower than the average wage Rp851 thousand food industry workers and workers of all industries (USD 962 thousand). During 2000 and early 2006, the average ratio of the monthly salary of the tobacco industry is only 83% compared to food industry workers’ wages and 62% when compared to the wages of all workers industries (BPS, Wage Statistics, 2005).

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Jakarta office market 2014

Jakarta CBD market
Demand for office space in the Jakarta CBD market remained at a fairly high level of performance in line with the national economy will grow by 5.5% to 6.0% in 2014. CBD office cumulative demand is expected to grow 5.5% to the level of occupancy in the healthy category is equal to 85% to 90%.

Meanwhile, the price of the average gross rental CBD, specialized in office buildings Grade B and C, are expected to increase this year. The owner at the suggestion of the manager of the building more confidence to raise prices in line rental occupancy rates is relatively high.

The selling price of strata-title office estimated increase for 2014, but at a lower level than that in the past three years. The buyers, especially buyers with large spacious, more cautious. This is mainly due, nationally and globally interconnected economy situation will happen in 2014 is relatively stagnant. Demand for rental and transaction activity in existing office buildings continued to show positive growth in the first quarter of 2014, the expansion and relocation of existing tenants, and the existence of intense competition associated with the large supply of strata-title office will be included in the next 2 years.

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Coal prices declined until December 2013 than Increasing

This October, coal reference price (HBA) is government established by the USD 76.61 per ton. Prices dropped because it is still an oversupply. The fall in coal prices due to the global economic situation. When compared with the price in the same period last year, coal prices fell about 10.9%.

Our prediction, Coal prices declined until December 2013 than Increasing. In 2014 is expected to rise again, along with the economic recovery in the country of India and china.

China’s domestic coal prices will decline and the domestic supply of coal lands will increase, because the railway infrastructure for the distribution of Chinese coal will be realized mostly in mid-2013.

Japan’s coal imports are also expected to decline due to re-operation of the majority of nuclear power plants. Unlike the case with India and South Korea’s coal imports are expected to rise, because many Indian coal power plant will be operational in South Korea this year and that growth in electricity consumption is projected to increase.

Prospects for improvement of the ASEAN market is also expected to occur, as quite good economic growth in some countries of Indochina, thus increasing the need for coal as an energy source

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KJPP ASP Rekan concern on limiting report

Valuation reports submitted to “CLIENT KJPP ASP REKAN Valuation or Appraisal PROPERTY” and User Reports shall be in detailed written form and will be in English. All statements and reports shall be published made in triplicate 3 (three).

Without limiting the generality of the following:

The property / asset to be assessed for the purposes of this letter of offer are considered to be under the responsibility of “CLIENT KJPP ASP REKAN Valuation or Appraisal PROPERTY”.

KJPP ASP REKAN do not allow the use of the whole, in part or as a referral from the Assessment of the Report in the documents, circulars, statements, references or published in any form without written permission from KJPP ASP REKAN , which shall not be unreasonably withheld.

KJPP ASP REKAN has no financial interest in the assets being assessed and the results of the assessment.

KJPP ASP REKAN does not give opinions on the legality of a independent transaction or have an interest in the related assets.

KJPP ASP REKAN , will not check completeness / conditions to be met like whether a mortgage is binding security, and therefore if it is intended as a policy lending by the bank, then the bank (or similar institution)is obliged to check and make sure the relevant conditions are met, including the legality therein. Unless explicitly stated in the report, it cannot be assumed that we have an obligation and have checked the legality and / or liabilities for assets perceived, or that we have researched / surveyed the property and / or debt as well as the validity of the documents of assets assessed, assuming the rights to the property are clear, and is under ownership.

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stumpage value

Valuation of forest properties is possible using either comparison or income approaches. Both these methods can also be combined as a hybrid, which uses price information of the market and cash flow based on growth and yield models of forests. This enables you to solve the discounting rates by equaling net present values to the market prices. Such market oriented discounting rates, as investors’ subjective or hyperbolic time preferences, can be used as a basis in the valuation of all forest growing areas. When using the income approach the main results show that the discounting rate depends on the expectation time. The longer the expectation time, the lower the discounting rate, is applied in the income approach.

Income Approach, this approach is based on the concept of the relationship between the value of the income from the property income producing property. Property value is calculated based on the projected amount of revenue expected to be generated reasonable by the property is in a one rotation (existing) that remains. The rationale of the approach is that the market value for the existing use of the income of a property depends on the potential of the property to generate income. The methodology used in the income approach, discounted cash flow (DCF).

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