LEASING Group 1

Ade liana FajrinAde Rizal Winanda

Dwi PardiantoDhea Kumalasari Alloq

Dewa Ayu Kartika VenskaFitria Intan

Lina AndriyantiNanda Primidya Kusuma

Nanik SunarniNoor Firliana Rosyadi

Nur MuflikhaOkyana Nur Safitri

Zakky Zamrudi

Questions

Explain any kind of leasing !• Direct Leasing

When lessee company looking for lessor company to lease some asset

• Sales Type Leasingwhen lessor company lease their asset to the other company.

From Lessor side, what kind of factor that affect rent rate ?• Depreciation

• Tax decrease

From Lesses side, what kind of factor

that affect rent rate ?

• Depreciation

• Interest Rate

Explain a few kind of reason to do leasing !• Lack Resources• Asymmetric tax rate• Imperfect Stock Market• Bankruptcy Expense• Decrease Uncertainty Risk• Transaction Cost

Explain about Pegadaian (pawning Institution) !• The way to payment using non fix assetes

as pledge.

Explain Islamic Bank with their own principles !• Accept deposit money from customer and try to invest those fund in form of rent

or other infestation. But return for customer not in interest, but profit sharing.• Al-Mudharabah• Al-Musyarakah• Al-Waidah• Al-Murabahah• Al Bai Bithaman Ajil• Al Bai Al-Dyn• Al-Sharf• Al-Ta’Jiri• Al Ijarah• Al Wakalah• Al Kafalah• Al-Hiwalah• Al Qord Ul Hasan

PROBLEMS

PROBLEMS1. Pt. Advisi plan to offer a leasing. The

product value is Rp 18.600.000 with 8 years economic value.

a) If the profit is as many as 12% (after tax), how much the rent amount to be offered?

b) If that product has Rp 4.000.000 of residual value at 8th years, how much is the rent amount to be offered?

PROBLEMS• Answer: A

18.600.000 = X + X (PVIFA 12%, 8)

18.600.000 = X + 4,968X

18.600.000 = X (1+4968)

X = 18.600.0005,968

X = 3.116.621

Year depreciation Present value 12%1 2.325.000 0,8932 2.325.000 0,7973 2.325.000 0,7124 2.325.000 0,6365 2.325.000 0,5676 2.325.000 0,5077 2.325.000 0,4528 2.325.000 0,404

4,968

PROBLEMS• Answer : B• Residual value : 4.000.00018.600.000 – 4.000.000 = 14.600.000• Depreciation14.600.000 : 8 = 1.825.000 /year• PV of residual value0,404 x 4000.000 = 1.616.000• Asset value – PV of residual value18.600.000 – 1.616.000 = 16.984.000

16.984.000/ 4,968 = 3.418.679,55

PROBLEMS2. PT Adika considering to rent a machinery. Here is the information:- Machinery cost is 540.000, Economic life 4

years with 0 residual value- Rent cost is Rp 160.000, 34% tax rate- The profit projection is 8%

PROBLEMS• Answer: - leasing cash flow schedule

0 1 2 3 4Rent Cost 160.000 160.000 160.000 160.000 Tax saving (34%) 54.400 54.400 54.400 54.400 Nett rent cost 160.000 105.600 105.600 105.600 (54.400) PV of Rent cost, CDF = 8% 160.000 97.778 90.535 83.829 (39.958)

• Total PV of nett leasing is Rp 392.156,94• 540.000 + (540.000 x 34%) = 723.600

Thank You