Plantation Companies Research Articles

The Examination of Trade Off Theory and Pecking Order Theory to Capital Structure on Plantation Companies Listed in Indonesia Stock Exchange

Plantation is a promising sector, but just like other firms, this sector will also face the financing problem. Capital structure determines the cost of capital and the risk assumed by the firm. Trade-off and Pecking order theory are the most common theory used to determine the capital structure. The objective of this research is to examine plantation companies tend to use trade-off theory or pecking order theory in determining the capital structure decision. This research used multiple linear regression analysis methods with capital structure as the dependent variable, and the asset structure, firm size, company growth, institutional ownership, effective tax rate, and non-debt tax shield as the independent variables.This is a quantitative research that uses secondary data from financial statements of plantation companies listed in the Indonesia Stock Exchange for 2014 to 2019. The sample was determined by using the purposive sampling technique and 5 out of 21 companies fulfill the sampling requirements. This study conducted observations for 6 years with a total of 30 research samples. The results of this research are both trade-off and pecking order theory are used and still relevant in the capital structure determination. Trade-off theory exerts more influence on capital structure decisions than pecking order theory. This is confirmed by the partial T-test where firm size, institutional ownership, effective tax rate, and non-debt tax shields suggest the use of trade-off theory, only asset structure indicates the tendency of pecking order theory.

Implementation of Human Resources Management in Tea Plantations in Indonesia: A Case Study – Pt. Perkebunan Tambi

Tea is one of the leading plantation commodities in Indonesia. Most of the tea commodities produced today are exported to the international market. The success of tea plantations in facing the dynamics and challenges of course cannot be separated from the implementation of good human resource management where human resource management is aimed at improving the quality of the company’s workforce. This paper aims to determine the application of human resource management in a tea plantation company in Indonesia (case study: PT. Perkebunan Tambi). The qualitative research method used in this study used an interactive model and took sources from key informants. The results of this study indicated that PT. Perkebunan Tambi implements human resource management starting from planning, recruitment, selection, socialization or orientation, training and development, performance appraisal to promotion, transfer, and termination of employment to increase productivity and quality of its employees.

EVALUASI MUTU PANEN KELAPA SAWIT DI PT. SENTOSA KALIMANTAN JAYA

The objective of the research is to evaluate the quality of harvesting oil palm fresh fruit bunches (FFB) correlated to the harvest system implemented by two afdelings in the oil palm plantation company, PT. Sentosa Kalimantan Jaya. The research employs descriptive design, with qualitative approach, purposive sampling and snowball sampling using questionnaires, and documentation. The research reveals that the characteristics of harvesters from two afdelings are dominated from the productive age and educated at elementary school. The harvesters in afdeling 2 have more experience than afdeling 4. Afdeling 2 provides better quality of FFB than afdeling 4, it comprises ripe fruit was 86.91%, abnormal was 1.07% and long stalk was 0%. Meanwhile, afdeling 4 comprises raw fruit was 1.32%, ripe fruit was 79.97%, and over ripe fruit was 12.88%. Both afdelings have permanent design of harvest system comprise the percentage of loose fruit, sengkleh stems, under pruning and over pruning which are beneath the standard. The under pruning interferes the process of cutting fruit, meanwhile the over pruning would potentially be able to reduce average bunches weight and produce male flowers dominantly. As a result, it can be deduced that the main factor affects the quality of permanent design of harvest system, and the quality of oil palm fresh fruit bunches is the harvesters’ experience of work. Afdeling 2 has 6 harvesters working for >5 years or 46.2%. The overall findings reveal that the longer harvester's working period, the labor productivity of harvesting oil palm will increase.

Analysis of Financial Ratio to Predict Financial Distress in the Sub Sector of Plantation Company on Indonesia Stock Exchange Period 2010-2018

The decline of crude palm oil commodity prices and world demand in 2014 to 2016 lead to decline the capability of plantation companies performance. This is apparent from the declining sales capacity, increase of operating expenses, and inventory expenses and the impact is declining financial performance such as net profit. If this is allowed continuously then the consequences are the plantation sub sector companies possibly can get into the financial distress condition. This research aims to predict the level of financial distress condition and to know the relationship significance using Return On Asset (ROA), Return On Equity (ROE), Current ratio (CR), Debt to Asset Ratio (DAR), Current Liabilities to Assets Ratio (CLAR) and Debt to Equity Ratio (DER). The research population was plantation sub sector companies listed in Indonesia Stock Exchange. Researcher using purposive sampling in order to obtain a sample of 10 companies. This research uses secondary data from annual financial report of plantation sub sector companies in Indonesia Stock Exchange. Data were tested using logistic regression to explain the influence between these variables. The results of this research indicate that the Return On Equity (ROE), Current ratio (CR), Debt to Asset Ratio (DAR), and Debt to Equity Ratio (DER) did not significantly influence financial distress while Return On Asset (ROA), Current Liabilities to Assets Ratio (CLAR) significantly influence financial distress. Keywords: Return On Asset (ROA), Return On Equity (ROE), Current ratio (CR), Debt to Asset Ratio (DAR), Current Liabilities to Assets Ratio (CLAR) dan Debt to Equity Ratio (DER) and financial distress.

Fulfilling Eucalyptus raw materials for pulp and paper production plants

Eucalyptus is one of the major species used for pulp and paper industry. As industries develop, the need for Eucalyptus supply increases. However, there are challenges plantation companies must specifically determining eucalyptus market price potential risks in eucalyptus plantation and how eucalyptus plantation impacts the surrounding environment.. Stakeholders on eucalyptus supply chain have risks which have to be mitigated. The eucalyptus seedling and developer and the supplier hold crucial role in providing good quality eucalyptus raw material for pulp and paper production plants. This research is conducted to explore on ways to mitigate each stakeholders risk, challenges plantation companies face in fulfilling eucalyptus raw material for pulp and paper production plants. There are four stakeholders in eucalyptus supply chain: eucalyptus seedling developer and seller, supplier, distribution centre and pulp and paper production plants. Some of the major risk stakeholders are facing in eucalyptus supply chain are: early cut of eucalyptus trees, farmers’ lack of understanding on growing eucalyptus properly, small stem size, fluctuating eucalyptus wood price and low stock quantity. Some of the minor risk stakeholders are facing: earthquake, over fertilization, overwatering, cold climate, and plant setting. There are four methods used to determine eucalyptus pricing: cost-based pricing, customer-based pricing, competition-based pricing, and statutory pricing. Eucalyptus consume high amount of water which can cause dry areas around eucalyptus plantation area and low groundwater reservoir.

The Effect of Tax Planning, Profitability and Tax Avoidance on Firm Value in Plantation Companies Listed on the Indonesia Stock Exchange for the 2017-2019 Period

This study aims to analyze the effect of tax planning, profitability and tax avoidance on firm value in plantation companies listed on the Indonesia Stock Exchange for the 2017-2019 period. The sampling method used is purposive sampling method. The number of companies that were sampled in this study were 13 plantation companies listed on the IDX in the 2017-2019 period. The data used is secondary data. The data analysis method used in this research is Multiple Linear Regression. The results of this study indicate that Tax Planning Affects Firm Value, Profitability Affects Firm Value, Tax Avoidance Affects Firm Value, Tax Planning Affects Leverage, Profitability Affects Leverage, Tax Avoidance Affects Leverage

Benih Mardeka in the Political Movement in East Sumatra, 1916–1923

This study aims to explain the movements, relationships and roles of Benih Mardeka newspaper in the political movement in East Sumatra from the period 1916 to 1923. Political movements took place as a result of rapid developments in the early 20th century in East Sumatra into a prosperous plantation area. The movements were carried by organisations delivered through propaganda tools or media, namely newspapers. One of the newspapers that loudly voiced national movement and nationalism in East Sumatra was Benih Mardeka newspaper, which began to appear in 1916. This study uses historical methods that include heuristic, source criticism, interpretation and historiography. The results showed that many articles in Benih Mardeka frequently criticised the issues of colonialism and capitalism. Meanwhile, the poor life of plantation workers became propaganda material for Benih Mardeka in criticising colonial and self-government as well as capitalists, namely plantation companies. Benih Mardeka was also a mouthpiece or tool for Sarekat Islam in conveying the idea of nation and nationalism. Hence, it can be concluded that Benih Mardeka consistently gave the voice of national movement and nationalism in the political movement and the press in East Sumatra.

Laborer Identification and Monitoring System: Dactyloscopy on the Plantations of East Sumatra, 1926-1980

This study aims to explore and discuss laborer identification and monitoring systems on East Sumatran plantations during 1926-1980. It is focused on the implementation of dactyloscopy, archives that have never been researched it all, which had replaced the anthropometric identification system as the reference to determine the criminal justice system. The data used is the dactyloscopy archive in the office of the Sumatra Plantation Company Cooperation Agency and the Indonesian Plantation Museum in Medan City. Data were analyzed using a historiographic approach. The study found that dactyloscopy was part of the modernization of the administrative and bureaucratic systems in plantations. The novelty of the study that the implementation of dactyloscopy in plantation communities is in line with the high crime of labor against employers. Therefore, there is a major distinction in the implementation of dactyloscopy before and after the independence which has been influenced by the logic of colonialism and independence. During the colonialism period, dactyloscopy was used to identify and monitor taming laborersin plantations, while post-independence and nationalization it was used as a modern labor control system.

Faktor-Faktor yang Mempengaruhi Minat Generasi Muda Bekerja Pada Perusahaan Perkebunan

Abstract This study aims to explain the factors” that influence the interest of the younger generation to work in plantation companies. The population of this study is the entire young generation ranging from the age of 16-35 years. The sample in this study amounted to 172 respondents consisting of the younger generation with an age range of 16-35 years. The research shows that partially the independent variable, namely attitude (X1) has a positive and significant effect on the Variable Intention (Y) of the younger generation to work in plantation companies which is seen from the t- count value of 2.220 and a significant value of 0.028. Then continued with the subjective norm variable (X2) which has a positive and significant effect on the intention variable (Y) of the younger generation to work in plantation companies, which is seen from the t-count value of 2.068 and a significant value of 0.040. Behavioral control variable (X3) has a positive and significant effect on the intention variable (Y) of the younger generation to work in plantation companies, which can be seen from the "t-count value" of 6.103 and a significant value of 0.000. The feasibility analysis of the model shows the value of adjusted R2 is 0.563 which is means that the independent variable is Attitude (X1) Subjective norm (X2) and behavioral control (X3) in this study is able to explain that the influence partially or simultaneously on the dependent variable, namely Intention (Y) The younger generation working in plantation companies is 56.3% and the rest 43.7% is influenced by factors outside these variables that are not examined. Keywords: Attitude, Subjective Norm, Behavioral Control, Intention.

The Impact of Career Development on Employee’s Commitment At Oil Palm Plantation Company In Indonesia

This study aims to determine whether career development has an effect on employee commitment. This research is important for the sustainability of a company. This study adopted a quantitative analysis using simple regression analysis. The population of this study was 43 employees that are working at one of Oil Palm Plantation Company in Riau, Indonesia. Sampling frame was the list of employees working in all levels of management. Quota sampling was applied in carrying out to conduct the study. Collecting data in this study using questionnaires conducted by distributing questionnaires to the respondents. The data analysis tool (Statistical Package for Social Sciences (SPSS Version. 21.0) was used to analyze quantitative data and results. Finding indicated that there was the influence of career development on employee commitment. It also indicated that career development contributed to the increase in employee commitment. The better the career development program in one organization occur , the better the commitment of employee for that organization.

Pengaruh Tunneling Incentive, Mekanisme Bonus, dan Leverage Terhadap Keputusan Perusahaan Melakukan Transfer Pricing: pada Perusahaan Manufaktur, Perkebunan, dan Pertambangan

The purpose of this study was to examine the effect of tunneling incentives, bonus mechanisms and leverage on transfer pricing decisions. This research includes causative research. The population used in this study are manufacturing, mining and plantation companies listed on the Indonesia Stock Exchange for the 2015-2019 period. The sampling technique used in this research is purposive sampling technique. There are 54 manufacturing, mining and plantation companies that are used as research samples. The type of data used is secondary data obtained from the official website of the Indonesia Stock Exchange and the official website of each company. The analytical method used is a quantitative method. The results show that the bonus and leverage mechanisms do not have a positive effect on transfer pricing, but the tunneling incentive variable has a positive effect on transfer pricing.

The political economy of soil erosion in Cirasea sub basin, upstream Citarum basin

The current problems of the Upstream Citarum basin, particularly in the Cirasea Sub-Basin, are near related to economic factors and the low political position of the community. One of the reasons is the biophysical aspect, which influenced the erfpacht rights for Dutch and British plantation companies in the Agrarische Wet policy at the end of the 17th century. When Indonesia became independent, the Government had worked on environmental rehabilitation as well as dealing with land conflicts, but rehabilitation activities often failed to meet the primary needs of the community. Therefore, rehabilitation efforts in various programs often fail. The objective of this this study is to figure out the preferences of interests and motives from the government and other access authorities which ultimately affect the lives of other communities through the formulation of an environmental rehabilitation program. The approach is Bernstein Political Economy Analysis. The results show that political economy is be able to reveals the problem of erosion, which is always imposed on groups with a low political position compared to other groups who are more vital in reaching access. Even though the community has limitations in implementing environmentally-friendly agricultural practices. Moreover, the political economy can reveal the government’s interests behind the land rehabilitation program which often sided with big investors and even tended to repeat the pattern of conflicts in the colonial era. Therefore, erosion can be an important element in describing the conditions of poverty that occur in rural areas.

HARMONISASI PENGATURAN HUKUM SERTA IMPLIKASI TANGGUNG JAWAB SOSIAL PERUSAHAAN DAN LINGKUNGAN PADA BUMN PTPN III PERSERO BERDASARKAN UU NO. 40 TAHUN 2007 DAN PERATURAN MENTERI BUMN NOMOR PER-09/MBU/07/2015

Partnership and environmental development program constitutes the Corporate Social Responsibility (CSR) implemented by the BUMN plantation companies in Indonesia. The research used juridical empirical and descriptive analytic methods. It employed library research method and qualitative data analysis method. The result of the research shows that the will of legacy in the legal provisions about CSR in its objective is synchronized with or similar to the Decree of the State Minister of BUMN No KEP-09/MBU/07/2015 at BUMN because both of them are used to the greatest benefit of the people who lived in the vicinity of the company. The result of the research shows that the will of legacy in the legal provisions about CSR in its objective is synchronized with or similar to the Decree of the State Minister of BUMN No KEP-09/MBU/07/2015 at BUMN because both of them are used to the greatest benefit of the people who lived in the vicinity of the company.

The design of integrated fire spot monitoring system for industrial plantation forest using enterprise architecture approach

Fire control in industrial plantation areas is often delayed due to late information on the location of fire spots. A quick response is the best chance to contain and eliminate a fire spot. Several methods are used to explore existing problems. First, the interview method is used to obtain information from direct sources involved in the fire spot handling process. Then with the SWOT analysis method, the strengths, weaknesses, opportunities and threats of the current fire spot management system are obtained. Value Chain Analysis is used to see the main activities and supporting activities in designing the fire spots detection system. Finally, the application of the Zachman Framework method can demonstrate the system design from various points of view. From the analysis carried out, it can be seen that each of the fire spot detection methods has its advantages and disadvantages. This study aims to analyze the implementation of a fire spot monitoring and handling system and produces a new Integrated Fire Spot Monitoring System design using the Zachman Framework in industrial plantation companies. A new model is thus created that integrates all existing detection methods. The new model utilizes supporting technology such as messenger technology, satellite, drone, CCTV, and applications on servers that intelligently complement the required data, including spatial information for the closest path to the fire spot. Enterprise Architecture’s implementation uses the Zachman Framework, which supported by SWOT Analysis and Value Chain Analysis, ensuring that all needs can be explored and producing a system design that has comprehensively considered all needs.

MODEL GERAKAN REKLAIMING TANAH DALAM PERSPEKTIF MASYARAKAT ADAT KASUS DI WILAYAH KABUPATEN KOTAWARINGIN TIMUR

Tenure conflicts between indigenous communities and plantation companies are based on differences in the legality of claims. The community as a subsystem of traditional farmers underlies the claim of management rights based on traditional knowledge. On the other hand, plantation companies based the legality of claims based on agrarian law that is normative positivistic with a capitalistic economic orientation. In Henri Lefebvre's perspective, in fact there is no completely "ideal" space because space itself is spatially in modern capitalist society as an arena of battle that will never be completely contested. All interested parties will continue to try to find ways to dominate the use or utilization of a space and reproduce all knowledge to maintain their hegemony over the use of that space. In that context, social movements can be understood as community efforts in producing social space.

Labour Efficiency In The Malaysian Oil Palm Plantations

Low levels of efficiency and productivity of the Malaysian oil palm plantations are associated with a persistent labour shortage. Hiring foreign labour is often seen as a feasible solution to support their intensifying oil palm production. However, their skills and experiences in the sector are crucial in sustaining the plantation efficiency and productivity. The study aims to analyse the level of labour efficiency and identify factors influencing labour efficiency in the Malaysian oil palm plantations. The cluster sampling was used to employ about 40 plantations from five plantation companies. Data were collected from the estate managers and analyzed using Data Envelopment Analysis (DEA). The findings revealed that the means of total technical efficiency (TECRS) and pure technical efficiency (TEVRS) were 0.7608 and 0.8573, respectively. A slack variable analysis reveals that the plantations had excessive labours from India (69%), Nepal (22.24%) and Bangladesh (14.39%). The study concluded that labour efficiency could be improved through hiring skilled labour and enhance on-field job training. Recruitment of labour by sourcing country could also help in selecting the best labour to recruit.

PENGARUH PEMBERIAN LIMBAH CAIR PABRIK KELAPA SAWIT TERHADAP BEBERAPA SIFAT KIMIA TANAH DAN PERTUMBUHAN BIBIT KELAPA SAWIT PADA PEMBIBITAN UTAMA

This research was carried out with the aim of examining the effect of providing palm oil mill effluent (LCPKS) on several soil chemical properties (pH, C-organic, and CEC) and the growth of oil palm seedlings in the main nursery. The research was conducted for 5 months, starting from March 6, 2020 to August 15, 2020 in the main nursery area for oil palm plantation companies, Belanti Jaya Village, Mersam District, Batanghari Regency, Jambi Province. The research was conducted using a Complete Acaka Design (CRD) based on the age and height of the oil palm seedlings that were uniform. The treatments used were based on the POME dosage, namely 0 L, 4 L, 5 L, 6.6 L, 10 L, and 20 L POME given every week for 20 months. Each treatment was repeated 4 times so that 24 experimental units were obtained and each unit consisted of 4 oil palm seeds so that the total number of seeds used in the study was 96 oil palm seeds. In the maintenance of seedlings, inorganic fertilizers were also given using compound fertilizers, namely NPKMg 15: 15: 16: 4, NPKMg 12: 12: 17: 2, and kiserit. The results showed that POME could increase pH from acidic to slightly acidic to neutral, C-organic from very low to moderate to very high conditions, but it could not increase soil CEC. The highest increase in pH and C-organic occurred in the 20 liter POME treatment. The provision of POME was able to increase height increase, increase in stem diameter, increase in the number of leaves, shoot dry weight, dry weight of the roots of the roots, and be able to provide an index of seed strength so that the seeds were able to be transferred to the field with seedlings of 9 months. The highest increase in oil palm seedling growth occurred in the 4 liter POME treatment.

Sustainabilty status and index of Aceh palm oil in central production of West Region Nagan Raya District

Nagan Raya District as the center of oil palm production in the Western Region of Aceh with an area of 100,547 Ha of oil palm plantations has the power to support Aceh’s economy. Sustainability analysis of Multi Dimensional Scaling using the Rap-Insus Palm Oil technique shows that oil palm plantations in Nagan Raya Regency have a fairly sustainable status. Supporting the sustainability of the economic and environmental dimensions has a fairly sustainable status, but the social and security dimensions are less sustainable. The highest sensitive leverage attributes from the economic dimension was the income of oil palm growers, the social dimension wase coaching in the communities around the plantation companies, the environmental dimension was forest fires, and the security dimension was facilitation of former GAM combatants to become oil palm growers. However, the lowest sensitive leverage attribute of the economic dimension was other economic growth due to oil palm, the social dimension was the K3 program in plantation companies, the environmental dimension was land suitability for oil palm plants, and the security dimension was oil palm in suppressing cannabis cultivation.

Contribution of Oil Palm Plantation to Household in Kolaka District of Southeast Sulawesi

The study aimed to find out the contribution of oil palm plantation to the household income of villagers in Kolaka District. The study was conducted in three villages in an oil palm plantation zone in Tanggetada sub-district, Kolaka District, Southeast Sulawesi. We selected 73 respondents from the three villages, representing partner farmers, casual workers in the plantation, and partner-farmers who were casual workers. A questionnaire-based interview method and Focus Group Discussion (FGD) were used to collect data and information. Research results showed that 68.5% of respondents perceived the plantation to have contributed positively to the household income. The average annual income they received from the plantation was Rp18,915,818 or 57.5% of the total household income. While the present income level was rated slightly better than before, respondents rated the stability of income and the suitability with skills as “same as before,” and rated leisure time and work satisfaction as “worse than before.” The local government and the plantation company should maximize the plantation’s livelihood benefits to enhance social sustainability of oil palm production.

Water-system changes in swampy rice agro-ecosystems area and their economic impacts on farmers in South Sumatra, Indonesia

Conversion of land encompasses not only changes inthe use of land for cultivation of food to non-food product but also includes the conversion of land in use to unused land. Changes in the management of water in the area of agro-ecosystem in Ogan Komering Ilir (OKI) District has resulted in a change of use of paddy swampy land. Research was aimed :1) to analyze the differences in the income of farmers of rice due to the changes management water in the area of agro-ecosystems; and 2) to analyze the level of welfare of the rice farmers after adapting to the current environmental conditions. Research was carried out in the Belanti Village, Sirah Pulau Padang District, Ogan Komering Ilir District, South Sumatra Province, Indonesia. Location was selected purposively as the village was exposed to routine annual flood since 2008. The farmers has experinced crop and harvest failure, despite the fact that it has served as rice granary since 1992. As survey method with structured questionaires was applied in this research. Sampling was conducted purposively against 42 rice farmers who experienced crop failure. The primary and secondary data were collected and then subjected to land rent value analysis and t-test analysis. Results showed that: 1) changes in water management have reduced household income of farmers by 50.06%; and 2) the level of welfare of rice farmers is still low even though they have made adaptation efforts. To improve the quality of living for farmers affected by flooding, there is a need for integrated cooperation between the government of the country, palm plantation companies, and farmers.