Market Value and Others Definition

Highest and Best Use, the ‘highest and best use’ is defined in the International Valuation Standards as “the most probable use of a property which is physically possible, appropriately justified, legally permissible, financially feasible and which results in the highest value of the property being valued”.

Market Value is defined as “the estimated amount for which an asset should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion”.

Method of Valuation Generally, there are three methods of valuation which are widely used in valuing properties. These methods are Sales Comparison, Cost and Income Capitalization Approaches, Income Approach and land Development Method. The approaches employed depend on type of property, the purpose or use of the valuation, and the quality and quantity of the data available for analysis.

Sales Comparison Approach, this approach can be utilized to estimate the value of the Subject Property by comparing it to similar properties recently sold on the open market.

Cost Approach, this approach can be utilized to estimate the value of the Subject Property by computing the current cost of replacing the premises and subtracting any depreciation resulting from one or more of the following factors: physical deterioration, functional obsolescence and external (or economic) obsolescence. The value of land, as though it were vacant and available, is then added to the depreciated value of the premises in order to produce a total value estimate.

Income Capitalization Approach, the income capitalization approach is based on the principle that the value of the Subject Property is indicated by the net return to the Subject Property, or what is also known as the present worth of future benefits. The future benefits of income-producing properties,

Value in Use, The value of a property owned by the use of certain specific to a particular user and therefore not related to market value. Value in the use of this value is given by the property to certain business entities where the property is part of the agency business without considering the highest and best use of the property or the amount of money that can be obtained on the sale.

Market Value for the existing Use, Market value of assets based on a continuation of the existing, with the assumption that these assets can be sold on the open market for use of that time, but in accordance with the definition of market value regardless of whether the use of the existing describes the highest and best use of these assets.

Liquidation value for the use of Return (Place in Liquidation Value in Use):
Estimated amount of money that will be calculated can be obtained from a property sale and purchase transactions / facilities to stop, in a limited time when sellers are forced to sell and vice versa for the buyer is not forced to buy, with the assumption that all property / facilities will be sold intact to be returned in accordance with their use.

Values Development Restore (Reinstatement Value). The cost needed to replace, repair or rebuild property to the condition that substantially the same, but not better or more extensive from the new conditions.

Value Insurance (Insurable Value). Value of property, as stipulated by the conditions stated in the contract or the insurance policy and in the definition of clear and detailed.

New replacement cost is estimated costs to create a new property, which is equivalent to the property assessed, based on the market price on the local assessment.

New Reproductive Cost is estimated costs to reproduce a new property the same or identical with the property assessed, based on the market price on the local assessment.

The cost approach is the approach for the assessment of the value of the item to get indications based on the assessment of the costs of reproduction new or replacement, which was issued on the date of assessment after the depreciation based on the physical condition of the existing inspection in the field (observed Condition) and the reduction in value because of functional obsolescence (functional obsolescence) and economic obsolescence (economic obsolescence).

Market Data comparison approach is the approach to the assessment item assessment of the use of data on sales of comparable properties and similar items with a value of the assessment is based on a comparison process.

Income approach is the approach assessment items that assessment is based on net income annually, which can be generated by the assessment object, then be capitalized with a certain level of capitalization to get market value assessment of the object.

Depreciation is the loss of the value of the object assessment for various reasons or because of the difference between the cost of reproduction new or replacement, with the market value.

Depreciation is also often refers to the loss of benefits utilities. Depreciation can be a diminution or physical damage, functional obsolescence, or economic obsolescence.

Financial Crisis, Global Uncertainty and Borderless Competition

The proposed theme for the 25th Pan Pacific Congress 2010 is ‘Financial Crisis, Global Uncertainty and Borderless Competition – The Professions’ Challenges in The Next Decade.

PPC is always seen as a significant forum that brings together appraisers, valuers, property counselors and all related professionals as well as stakeholders in the Pacific Basin to share and discuss the current and contemporary issues in the world of valuation and property development. As we are all aware of, we are currently living in the world challenged by global financial crisis, rapidly changing global uncertainty and borderless competition. A wide array of topics of interest in its latest development will be discussed in the 3 days of the congress.

for further information
Indonesian Society of Appraisers (MAPPI)
Wisma Penilai
Jl. Kalibata Raya Kav 11 – 12 E
Jakarta, Indonesia
p.    62 21 794 9079
f.    62 21 794 9081
www.ppc2010bali.com

Opening Ceremony

By the Vice President of the Republic of Indonesia, Prof. Dr. Boediono, M.Ec.*

Opening Speech

By the Minister of Finance of the Republic of Indonesia, Dr. Sri Mulyani Indrawati*

Keynote Speech

“The Professions’ Challenges in the Next Decade”

By Chairman of IVSC Board of Trustee, Michel Prada*

Plenary Session

Examining the Current State of the Global Property Market

Property Valuation in Uncertain Economic Condition

Valuation Needs, Trends and Issues in the aftermath of the Crisis

Concurrent Session

Hot Topics

Valuation for IFRS Compliance – Purchase Price Allocation

Valuation for Financing Purpose

Intangible Asset Valuation

Detrimental Asset Valuation

Land Compensation Valuation

Green Building Valuation & Consulting

Best Practice

Discounted Cash Flow Model

Public Sector Asset & Infrastructure Valuation

Valuation of Agriculture & Forestry Assets

Mining Asset / Extractive Industries Valuation

Fairness Opinion

Golf Program will depart on 5.00 a.m. in the morning from the Bali International Convention Center (BICC) The Westin Resort – Nusa Dua, Bali. It will take around 45 minutes to Nirwana Bali Golf Club. Once the participants arrive, a breakfast will be served for all participants and the Tee Off will take time at 6.30 a.m.

The tournament shall be finished around 11.30 and you will have a chance to refresh yourself before having lunch at the restaurant together with the announcement of the winner tournament.

At 2.00 p.m., the participants are expected to go back from Nirwana Bali Golf Club to their (official) hotels.

Nirwana Bali Golf Club

Nirwana Bali Golf Club is an 18-hole golf course with dramatic ocean views and lush Balinese landscapes. Designed by Greg Norman, the golf course offers a spectacular challenge and a unique world-class experience for golfers of all skill levels.
With three holes running along the cliffs of the Indian ocean and terraced rice paddies providing unique hazards the course will test the accuracy and consistency of a PGA Professional and still be enjoyable for the average golfer. The 7th hole is especially challenging, requiring the golfer to hit a middle iron from the cliff side tee across a piece of the ocean to a scenic and well-guarded green. Hole 13 will require all a golfer’s skill and concentration as it plays along Indian Ocean cliff tops. Hole 14 is a dramatic par 3, with the ocean thundering below.

Pengrajin Karet dan Lateks

Bahan olah karet berupa lateks dapat diolah menjadi berbagai jenis produk barang jadi lateks (latex goods) dan karet padat (RSS, SIR) dijadikan bahan baku untuk menghasilkan berbagai jenis barang karet. Barang jadi dari karet terdiri atas ribuan jenis dan dapat diklasifikasikan atas dasar penggunaan akhir (end use) atau menurut saluran pemasaran (market channel). Pengelompokan yang umum dilakukan adalah menurut penggunaan akhir yakni: ban dan produk terkait serta ban dalam, barang jadi karet untuk industri, kemiliteran, alas kaki dan komponennya, barang jadi karet untuk penggunaan umum dan kesehatan dan farmasi.

Ragam produk karet yang dihasilkan dan diekspor oleh Indonesia masih terbatas, pada umumnya masih didominasi oleh produk primer (raw material) dan produk setengah jadi. Jika dibandingkan dengan negara-negara produsen utama karet alam lainnya, seperti Thailand dan Malaysia, ragam produk karet Indonesia tersebut lebih sedikit. Sebagian besar produk karet Indonesia diolah menjadi karet remah (crumb rubber) dengan kodifikasi “Standard Indonesian Rubber” (SIR), sedangkan lainnya diolah dalam bentuk RSS dan lateks pekat.

Pada saat ini (data tahun 2003) jumlah sarana pengolahan karet berbasis lateks mencapai 23 unit dengan kapasitas sebesar 144.520 ton/tahun, dan pengolahan crumb rubber swasta di luar PTPN sebanyak 75 unit dengan kapasitas 1.957.400 ton/tahun. Kapasitas pabrik pengolahan crumb rubber pada saat ini sudah mencukupi untuk mengolah bahan baku yang tersedia, namun pada lima tahun mendatang diperlukan investasi baik untuk merehabilitasi pabrik yang ada maupun untuk membangun pabrik pengolahan baru untuk menampung pertumbuhan pasokan bahan baku.

Prospek bisnis pengolahan crumb rubber ke depan diperkirakan tetap menarik, karena marjin keuntungan yang diperoleh pabrik relatif pasti. Marjin pemasaran, antara tahun 2000-2002, berkisar antara 3,7%-32,5% dari harga FOB, tergantung pada tingkat harga yang berlaku. Tingkat harga FOB itu sendiri sangat dipengaruhi oleh harga dunia yang mencerminkan permintaan dan penawaran karet alam, dan harga beli pabrik dipengaruhi kontrak pabrik dengan pembeli/buyer (biasanya pabrik pabrik akan semakin besar jika harga meningkat.

Pemanfaatan karet alam di luar industri ban kendaraan masih relatif kecil, yakni kurang dari 30 persen. Selain itu industri karet di luar ban umumnya dalam skala kecil atau menengah. Sementara itu industri berbasis lateks pada saat ini nampaknya belum berkembang karena banyak menghadapi kendala. Kendala utama adalah rendahnya daya saing produk-produk industri lateks Indonesia bila dibandingkan dengan produsen lain terutama Malaysia. Industri kecil menengah barang jadi karet secara umum masih memerlukan pembinaan di dalam pengembangan usahanya. Industri barang jadi karet dibangun atas sekumpulan usaha/perusahaan yang bergerak dalam penyediaan bahan baku utama karet alam/sintetik, bahan bantu dan pembuat cetakan (molding) serta ditunjang beberapa institusi pendukung yang bergerak dalam bidang jasa penelitian dan pengembangan, regulasi, perdagangan, angkutan, keuangan dan jasa lainnya.

Dalam operasionalnya, pengrajin industri kecil barang jadi karet menjalin hubungan secara interpersonal dengan usaha lainnya baik dalam pengadaan bahan baku maupun dalam sistem pemasarannya. Dalam pengadaan bahan baku, pengrajin industri kecil barang jadi karet terutama menjalin hubungan secara informal dengan pabrik kompon sebagai bahan baku utama. Hal ini dilakukan karena industri kecil belum memiliki kemampuan membuat kompon. Demikian juga dalam pemasaran produk, pengrajin industri kecil barang jadi karet biasanya menjadi vendor dari suatu perusahaan besar seperti pabrik otomotif atau pabrik elektronik, menjual ke toko secara langsung atau menggunakan pedagang perantara. Seringkali industri kecil ini beroperasi dengan mengandalkan pesanan (captive market) Industri kecil barang jadi karet pada umumnya dikelola dalam bentuk industri rumah tangga secara informal. Pengrajin barang jadi karet, dalam operasional usahanya berjalan secara soliter, dalam arti hampir tidak terjadi interaksi antar pengrajin. Pengrajin pada umumnya tidak berminat dan menganggap tidak ada manfaatnya tergabung dalam asosiasi atau koperasi. Dengan bentuk usaha rumah tangga para pengrajin pada umumnya belum memiliki akses terhadap sumber modal secara formal. Selain itu karena segmen produk yang mereka hasilkan relatif terbatas, pada umumnya para pengrajin tidak menganggap perlu pengembangan usaha ke arah yang lebih besar. Hal yang dianggap lebih penting oleh mereka adalah kontinuitas produksi walaupun volumenya relatif kecil. Jenis produk yang dihasilkan oleh industri kecil barang jadi karet terutama diarahkan pada barang-barang karet untuk otomotif berupa karet untuk spare part dan barang-barang karet untuk teknik dan industri. Jenis-jenis barang ini relatif mudah dalam proses pemasarannya dan tidak terlalu memerlukan spesifikasi yang rumit. Selain itu jenis karet tersebut pada umumnya hanya diproduksi oleh industri kecil sehingga tidak mendapat saingan dari produsen perusahaan besar. Walaupun demikian akhir-akhir ini terdapat produkproduk impor dari China dan Korea yang dikhawatirkan menjadi saingan berat bagi barang-barang karet produksi pengrajin barang jadi karet domestik. Pengrajin barang jadi karet menggunakan teknologi yang sangat sederhana, yakni tertumpu pada proses pencetakan dan vulkanisasi (pemasakan) pada kompon yang dibeli dari perusahaan pembuat kompon. Dengan demikian seluruh pengrajin barang jadi karet sama sekali tida berhubungan dengan teknologi kompon (compounding).  Vulkanisasi menggunakan panas yang bersumber dari kompor tradisional. Suhu untuk pemasakan dan lama waktu pemasakan benar-benar didasarkan atas pengalaman yang dilakukan secara berulang-ulang sehingga didapatkan parameter suhu dan waktu pemasakan yang dianggapnya paling tepat. Hal ini diamati dari mutu produk barang jadi karet yang dihasilkan yang diamati secara visual. Produk barang jadi karet yang dihasilkan oleh para pengrajin dapat sampai di tangan konsumen melalui tiga saluran utama yakni melalui mitra, melalui broker atau sering juga disebut sebagai pengorder atau melalui kedua saluran tersebut di atas. Mitra pengrajin dalam sistem pemasaran produk barang jadi karet pada umumnya adalah perusahaan pengadaan suku cadang untuk industri elektronik dan otomotif dari merek-merek terkenal. Kerjasama dengan mitra dilakukan secara informal atas dasar saling percaya tanpa adanya suatu ikatan kontrak formal. Harga barang karet untuk suatu komponen tertentu dijual ke konsumen akhir oleh mitra, setelah dikemas merek terkenal, dengan harga berlipat dari harga jual di tingkat pengrajin.

Choose credit repair services with rmcn Rankings.

Recently many people who had difficulty in financial trouble, resulting in lots of other effects caused by the presence of this problem. Thus, in life, they are always uneasy. Financial problems, debt problems, credit problems is increasingly damaged, this is certainly very disturbing. The solution is to do credit repair. And this can only be done by parties who have an expert who can fix it.

Actually, lots of services that provide credit repair, but not all of them have a good reputation. So that one is sometimes difficult to choose which service is best to repair their credit. Actually not difficult to choose which is best, because now there are sites that provide information on the best credit repair services, and it is only in the rmcn rankings.

In rmcn ranking there are many services that provide credit repair services, and this of course will greatly assist potential customers in determining which one will they choose and they are believed to resolve credit problems they experience.

Innovation to success

Innovation to success:  Money touches every part of our lives. How to put money in proper perspective? The effect on everything. The way we store, use all of them reflect who we are. Our character. Indeed money does not give happiness. Many people think that money will solve many problems. Actually also less precise. Money gives a lot of choices and opportunities, if we know how to manage it. Personal experience in generating money makes us appreciate it. The more we learn about money, we’ll make more, and better able to arrange financing. Managing money is not just a matter of budget, although that’s important. Money is good servant, we are the master. At the time owed the money turned into a cruel master, we are slaves. Learning about money is very important.

Money is an idea and create value. Money as a reward for services we do. The more valuable the greater the appreciation of our service. Focus on value creation opportunities of success. What are our financial goals? For retirement, buying a home, and business capital. Create a detailed action plan and follow it seriously.

Innovation should be a core competency if you want to win the competition. Everyone has different capabilities, but the important competency to be possessed is innovation. Several important points in the competition are price, volume, quality and speed, all require innovation. Innovation means creating new values and new satisfaction on the customer. Are products and services we provide value to the customer? Does the customer want a new innovation? Is the customer willing to pay for it? Innovation starts from the idea that sometimes small, immature and premature. Ideas that may be driven customer dissatisfaction. We must develop the ability to innovate continuously. Often the emergence of innovation from performing a service by trying hard as possible and consistently. That’s what separates a winner from its competitors. Great innovators who have a fanatical desire to always be in front and able to apply his intellectual energy to make the leap. Sure needed that transcends forward movement of thought exist.

Replacing dash kits for cars that fit your liking.

Having a car is appealing indeed be a dream of all people, including me. Although money is not enough to realize this dream car, but I always try to install the latest accessories for the car may look modern and nice to look at. Accessories such as dash kits, wheels and other accessories often I change within a certain period.

This indeed I often do, and I am very pleased with this. Some of my friends often flatter and want to make changes to their cars like me. If it does not always make changes to your car accessories, car will look shabby and unattractive for use or for visits. So, always make modifications to your car.

Buying a car spoiler at the online store.

Some time ago, I did some modifications on my car. After a while browsing and looking at online stores that sell car accessories, I finally found an online store that sells a complete about the equipment and car accessories. And I think the price offered is relatively cheap compared to other stores, both stores offline and online stores. One of the goods sold is a car spoiler. If I compare with another store, maybe a few percent more expensive than the price I found at this online store. Of course this is very exciting for me, and every few months I could always change my car accessories to make it look ever new and not outdated.

Increasing the business benefits to the business of stock

In the business world, a lot of things you can do to make a profit. And this triggers creativity business itself. If you only do business and is performed by most people, the competition will be very strict. But if you can create a new business venture, the market prospect will be enjoyed by itself, without a lot of other business competitors. This is a very brilliant idea. Still very few business people who do so.

Over the last few years, I conducted a very profitable business investment. One of them in stock trading. By trading stocks, which I can gain very much. Since this business is very simple to do if we really already know the keys to do option trading. If not, just the same as other businesses will experience huge losses. Therefore, if you want to play the trading business, we need to learn a little about the tricks to play the stock is good and right. Read more

Kantor Jasa Penilai Public

KJPP PANGALOAN Property Appraisal -Consultant

Registered license in Finance Minister of Indonesia No. 3.09.0019

Valuer in Indonesia Capital Market listed, Mining & property expertise like Office, Apartment, Shopping/Mall, Hotel, etc. Phone: +628170700086, kjpppangaloan@yahoo.com or marketing@marketvaluer.com. SERVICES: ASSET VALUTION, ASSET REVALUTION, INVESTMENT APPRAISAL, HIGHEST & BEST USE ANALYSIS, MARKETABILITY STUDY & ANALYSIS,FINANCIAL & INVESTMENT ANALYSIS.

« Previous Page