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total liabilitie 18141 long term liabilities 5278

total equity 16007 shared capital 5264


total L&E 34148 total 10542
% liabilities 0.53 % liabilities 0.501
% equity 0.47 % equity 0.499
1. tax
net earning before income tax 4089
income tax expense 1260
tax 30.81 %

2. bond->rd(1-T)
rd 5.81 %
cost of debt 4.020 % +FLOTATTION RATE

3. common stock
closing price 31 des 2005 p0 52.56 ->CONVERT KE US DOLLA dividend
ROE 2005 book value 21.4 % jml stock
ROE 2004 24.6 % divident total
betha 1.27 net earning
payout ratio
ROE market 7.625 % retention rati
g
CAPM

Dividend yield 0.53 % 0.0053

rM 0.077
rF 4.20 % 0.042
RPM 0.035
rs 0.0860 8.60 %

DCF
g 0.0709459333
dividend yield 0.0053
rs 0.07662 7.662 %

bond risk
bond yield 5.81
bond premium risk 3 asumsi
rs 8.81 %

cost of equity 8.36 %

long term liabilities 6629


total equity 44933.544 6629
total 51562.544
% liabilities 0.129
% equity 0.871

WACC 7.7989 %
coupon 7.30
pv -109.76
fv 100
n 56
pmt 3.65 3.65
I semi annual 3.268%
I annual 0.0654 6.54

0.2786
854.9 mio
238.147783 mio
3426
0.0695 0.07272727
0.9305 0.92727273
0.0709

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