[ADMF]PT. Adira Dinamika Multi Finance Tbk

Alamat
Head Office : Graha Adira, 10-12th Floor Jl.Menteng Raya No.21 Jakarta 10340
Phone : (021) 391 8686, 392 4824, 392 4825, 3921000
Fax : (021) 392 4827
E-mail :

Summary
PT Adira Dinamika Multi Finance (the company) was established at Nov 13, 1990. The Company's articles of association has been amended from time to time, the latest amendment regarding the decrease in nominal value of the Company's shares, the increase in the authorized shares of the Company and the change in the Company's status from private company to public company. On May 2003, the company offered Adira Dinamika Multi Finance Bonds I Year 2003 through the Surabaya Stock Exchange with total nominal value of Rp 500.000.000,- which bear fixed interest rate per year of 14,125% and maturing on May 2008. The Company started its commercial operations in 1990 and have 47 branch offices located in, among others, Jakarta, Bogor, Tangerang, Bekasi, Bandung, Cirebon, Semarang, Solo, Yogyakarta, Surabaya, Sidoarjo, Malang, Denpasar, Medan an Makasar.








Harga wajar menggunakan DCF model
growth rate 20%, perpetual 10% setelah 2013
discount rate 14%




Harga wajar Rp. 25.475.00

Margin of Safety 50%

Harga beli = Rp. 25.475.00 x 50% = Rp. 12.737.00

Sekilas tentang ADMF
Selama 5 tahun berturut turut mengalami pertumbuhan yang kontinyu pada revenue dan net income, ROA dan ROE diatas 20% menunjukan kinerja yang outperform.

Untuk cash flow mengalami pertumbuhan sejak tahun 2003, hanya pada tahun 2007 mengalami pertumbuhan yang negatif.

Untuk DER juga cukup tinggi sebesar 0.8