Global strategic alliance in Indonesian property industry : a case of joint venture and investment strategy at PT. Z
Jonathan H. Gunawan;
Albert Widjaja, supervisor
([Publisher not identified]
, 1997)
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ABSTRAK Strategic Alliance is becoming more important ¡n the globalization era,moreover in the rapid changing technology and greater complexity of process andservices in the business world. Two or more companies with their different corecompetencies could establish a strategic alliance in order to achieve a synergy and toposition themselves as a Competitive company in the market. A comprehensiveunderstanding of Strategic Alliance is presented ¡n Chapter 2. Indonesia as one of the emerging countries ¡n Asia has attracted manyinvestors from different countries. This includes an attractive investment in theproperty industry which experienced booming in 1990 and 1994. The propertymarket in Indonesia particularly in Jakarta has experienced a tremendous growthsince the last five years. This is due to the rapid increase of foreign direct investment(FDI) inflow to Indonesia. A Joint Venture as a form of Strategic Alliance is partnership between twoparties or more. They may establish either fifty-fifty or unequal equity partnership.This study is to elaborate a 50-50 or an equally equity Joint Venture process betweenPT. Z and a foreign investor in property development which is often viewed as aproblem in voting. The purpose of this study is to elaborate a 50-50 Joint Ventureprocese between PT. Z, a local property developer and a foreign investor. As aguidelines a sequence process of joint venture is provided. PT. Z is a medium sized property developer which prefers focusing on a nichemarket. PT. Z has operated a good quality and international standard rentalapartment in South Jakarta. It is performing very well In terms of income andoccupancy level. PT. Z has also acquired a parcel of land in the Jakarta?s CBD areaand keeps it for future development. The shareholders of PT. Z have realized thatthey have a limited capital resources to build the office building. Raising a new loanwill not be possible as the company has already a very high leverage. Havingconsidered all factors by using SWOT analysis, PT. Z will use high value of theapartment to seek foreign partner who can bring new equity to the company. PT. Zoffers 50% equity partnership to the incoming foreign partner. The HIC-SEA (Holding Investment Corporation for South East Asia) is asubsidiary of a large prominent European-based multinational company. The HIC-.SEA isinterested in investing in the property market in the region and will manage propertyportfolio in South East Asia countries including in Indonesia. The HIC-SEA is registered inBermuda and has chosen Singapore as a regional base operation. A WIN-WiN negotiation could be implemented in achieving a joint ventureagreement because both parties will work together for a long term period. Building afoundation for negotiation should be based on similarity of offer/requirements, thenmoving up to negotiate differences in order to achieve WiN-WiN situation.There are several key issues in structuring a 50-50 JoInt Venture such as controland managent, buy-sell provisions In relating to a deadlock resolution in the JointVenture Company. The Joint Venture Company should limit the number of Board ofCommissioners and Board of Directors members in order to speed-up the decisionmaking process. Business plan for the Joint Venture Company should be preparedcarefully to avoid misunderstanding between the two parties. A summary of the joint venture process is as follows: 1. Set-up the objective of doing joint venture 2. Do valuation of the subject properties 3. Arrange all legal documents such as land thle, building permit, artides of association. 4. Do feasibility study for a proposed project and/or prepare property report including investment proposal (e.g. how many percent the shares participation is offered) 5. Set-up criteria for the foreign partner(s) 6. Prepare the agenda for a WiN-WIN negotiation 7. Go through the due diligent process 8. Legally binding agreement |
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No. Panggil : | T-Pdf |
Entri utama-Nama orang : | |
Entri tambahan-Nama orang : | |
Entri tambahan-Nama badan : | |
Subjek : | |
Penerbitan : | [Place of publication not identified]: [Publisher not identified], 1997 |
Program Studi : |
Bahasa : | eng |
Sumber Pengatalogan : | LibUI eng rda |
Tipe Konten : | text |
Tipe Media : | computer |
Tipe Carrier : | online resource |
Deskripsi Fisik : | xi, 109 pages : illustration ; 28 cm + appendix |
Naskah Ringkas : | |
Lembaga Pemilik : | Universitas Indonesia |
Lokasi : | Perpustakaan UI, Lantai 3 |
No. Panggil | No. Barkod | Ketersediaan |
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T-Pdf | 15-17-239041627 | TERSEDIA |
Ulasan: |
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