| Summary: | The research entitled An Analysis on the Fair Market Value of Equity in PT.
Senang Kharismatex (Ttp) in the attempt of acquisition by PT. Kapas Agung Abadi
(Ttp) in 2009 aims to analyze the fair market value of equity in PT. Senang
Kharismatex (Ttp). The methods used were discounted of economic income method
and adjusted book value ones. Based on the application of discounted of economic
income method, it was found that the equity 100% market value of PT. Senang
Kharismatex (Ttp) per December 31, 2009 was 31,443,177,321.- IDR. This market
value had not reflected yet the definition of fair market value according to the
standard value of business valuation because discount remained to be applied to the
lack of marketability and or lack of liquidity on the indication of the value, in the
sense that as closed company stock, the share could not be traded easily. Applying
the lack of marketability of 30 percent, the market value of equity 100% of PT.
Senang Kharismatex (Ttp) was obtained of 22,010,224,125.- IDR. Meanwhile based
on the application of Adjusted Book Value Method, the market value of equity was
about 33,126,104,357.- IDR. Applying the lack of marketability of 30 percent, the
market value of equity 100% of PT. Senang Kharismatex (Ttp) was 23,188,273,050,-
IDR. To obtain indication of final value, the reconciliation or indication was done to
the values resulted from discounted of economic income method and adjusted book
value method. Having conducted value reconciliation, the fair market value for
acquiring 100% shares of PT. Senang Kharismatex (Ttp) was 22,599,248,587.- IDR.
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