Struktur Entitas (SPV Level) Special Purpose Vehicle (SPV)

PT JAGADDHITA LOKATARA TRIYASA

| Pemegang Saham | Porsi |

| Lead Investor | 40 – 51% |

| BUMN / BUMD / Government Entity | 20 – 30% |

| Developer / Sponsor Lokal | 15 – 25% |

| Financial Investor / Fund | 10 – 20% |

➡️ Kontrol mayoritas di tangan investor strategis
➡️ Pemerintah tetap memiliki golden share / veto terbatas

150+

15

Terpercaya

Profesional

Skema KPBU

(Public–Private Partnership)

Peran Pemerintah

• Penetapan RDTR & PSN

• Fasilitasi perizinan & OSS

• Penyediaan / dukungan:

  • Akses jalan utama

  • Utilitas dasar (air, listrik, drainase)

• Dukungan fiskal & non-fiskal (jika tersedia)

Peran Badan Usaha (SPV)

• Pembebasan & konsolidasi lahan

• Pengembangan kawasan industri

• Pengelolaan & pemasaran kavling

• Operasional kawasan

📌 KPBU tanpa AP (Non-Availability Payment)
➡️ Revenue berbasis land sales + recurring income

Struktur Pendanaan (Capital Stack)

| Komponen | Porsi |

| Equity | 30 – 40% |

| Debt (Bank / DFIs / Infra Fund) | 60 – 70% |

Penggunaan Dana (Use of Funds)

1. Akuisisi lahan bertahap

2. Infrastruktur kawasan (jalan, utilitas)

3. Development Tahap 1–3

4. Working capital operasional

➡️ CAPEX terbesar hanya di tahap awal, sisanya mengikuti penjualan

Revenue Streams (Diversified & Bankable)

Primary Revenue

• Penjualan lahan industri (land sales)

Secondary / Recurring Revenue

• Sewa gudang & logistik

• Service charge kawasan

• Utilitas (air industri, listrik internal)

• Built-to-suit facility

• Long-term lease (untuk anchor tenant)

📌 Ini meningkatkan:

• Stabilitas cashflow

• Valuasi SPV

• Bankability untuk debt

Return Structure untuk Investor

Indicative Return

• Target IRR (Project Level): 15 – 20%

• Equity IRR (levered): 18 – 23%

• Payback Equity: 6 – 8 tahun

Distribution Waterfall (Sederhana)

1. Operating cashflow

2. Debt service

3. Preferred return (jika ada)

4. Equity distribution pro-rata

5. Upside sharing (jika IRR > hurdle)

Risk Allocation (Investor Favorite Section)

| Risiko | Ditanggung |

|Regulasi & perizinan | Pemerintah |

|Pembebasan lahan | SPV |

|Cost overrun | SPV (cap) |

|Market demand | Bersama |

|Force majeure | Bersama |

➡️ Risiko ditempatkan pada pihak yang paling mampu mengelolanya

Exit Options (Clear & Attractive)

✔ Partial exit setelah Tahap 1–2
✔ Strategic buyout (anchor tenant / fund)
✔ REIT / infrastructure trust (jangka panjang)
✔ IPO SPV (opsional)

Sumber Pendanaan

• Equity: investor JV

• Debt:

  • Bank nasional

  • Bank internasional

  • Development Finance Institutions (ADB, AIIB, IFC)

  • Green / infrastructure financing (jika applicable)

Contact Us

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