Leasing Presentation

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PT. Surya NordFinans

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Leasing Presentation

  1. 1. Operating Leasing Fleet Leasing
  2. 2. Content • Leasing • Operating • Financial • Fleet leasing • Add-In products • Comparative Advantages • Administration • Financial • Comparison • PT. Surya NordFinans • Financial Standing • Clients • Sample Documentation 19/11/2009 2
  3. 3. Leasing • Operating Leasing in Indonesia is handled as a rental. • Depreciation made in the books of the Lessor. • No transfer of title. • Operating expenses as; • Insurance, • Road-tax, • Maintenance and repairs, • Replacement vehicle are included in the Lease Fee. 19/11/2009 3
  4. 4. Leasing • Financial Leasing, in Indonesia, is the equivalent of Hire Purchase in other countries. • Title is transferred to the user on delivery. • Operating expenses are for the user. • Depreciation of the asset is made by the Lessee. • Collection issues are prevalent. 19/11/2009 4
  5. 5. Fleet Leasing • A Group of Vehicles – a Fleet – is provided to the Lessee. • The composition of Brands and Models is determined by the Lessee. • The Fleet is serviced and maintained by the Lessor. • No other charges than Petrol and direct driving charges (driver) are paid by the Lessee. • The Lessee undertakes not handle the vehicle with ‘normal care’ • The Lessee is buying ‘Transportation’, not a vehicle. 19/11/2009 5
  6. 6. Add-In Products • Insurance – Paid and administered by the Lessor. • Road Tax – Paid and administered by the Lessor. • Normal Service and Maintenance - Paid and administered by the Lessor. • Tyres – Included in Lease Fee. • Replacement Vehicle - Paid and administered by the Lessor. 19/11/2009 6
  7. 7. Comparative Advantages • Administration • Financial • Comparison 19/11/2009 7
  8. 8. Administration • Simple Administration • One invoice per month • Service and maintenance handled by the Lessor • Insurance and Road Tax handled by Lessor • No staff time for ‘vehicle issues’. • Outside parties / tax inspectors do not discuss depreciation issues or other matter pertaining to assets as it is Operating Expenses for the company. • Expertise with respect to vehicle values (at sale and purchase) provided by the Lessor. • Timely transportation ensured for the user. 19/11/2009 8
  9. 9. Financial • Fixed price for the duration of the Lease simplifies budgets and planning. • Normal repairs and maintenance included in the price. • No significant cash outlay up-front. • Tax issues resolved from the beginning. • Utilisation of ‘untaxed money’ for payment of Lease Fee. 19/11/2009 9
  10. 10. Comparison • A purchase of a vehicle drains cash flow from the corporation. • A Toyota Kijang Innova costs IDR 182.4 million to buy. • With the assumption of: • Lease Interest rate of 18.5%, • Three year utilisation, • One lease payment as deposit to Lessor, • User’s Pay back time requirement three and a half (3.5) years; • Net saving, on a Net Present Value calculation, is IDR 81.5 million over the period. 19/11/2009 10
  11. 11. Company PT. Company Company PT. Company Product T oyota Kijang Innva 2.0 G Man NPV Purchase IDR 142,855,266 Saving Product T oyota Kijang Innva 2.0 G Man NPV Lease IDR 61,300,454 IDR 81,554,812 57.09% Lease Fee (excluding VAT) IDR 5,700,000 Lease Interest 18.50% Lease Fee (excluding VAT) IDR 5,700,000 Tenor 3.0 Years Lease Interest 18.50% 1 Monthly Lease Payment 36 Payments Tenor 3.0 Years Deposit 1 Payments IDR 6,271,000 incl VAT 10 % 1 Monthly Lease Payment 36 Payments Residual Value 109,440,000.00 Deposit 1 Payments Including IDR 6,271,000 incl VAT 10 % Insurance x Residual Value 109,440,000.00 Maintenance x IDR 4,377,600 per year Tyres x Road Tax x Including Replacement Vehicle x Insurance x Maintenance x Tyres x Road Tax x Replacement Vehicle x 19/11/2009 11
  12. 12. PT. Surya NordFinans • PT. Surya NordFinans was acquired by the Surya Group in 2001. • NordFinans is concentrating its financing activities on Operating Leasing of; • Vehicles (Fleet Leasing) • IT Equipment and Software • Client base is primarily international corporations 19/11/2009 12
  13. 13. Clients • PT. SKF Indonesia • PT. Chubb Indonesia • PT. ABB Transmission and Distribution • PT. Luxindo Raya • PT. Roche Indonesia • PT. Eka Dharma (Volvo) • PT. Maersk Indonesia • Crown Relocation • Elof Hansson Indonesia 19/11/2009 13
  14. 14. Sample Documentation •Lease Agreement •Schedules •Insurance •Asset Specification •Lease Schedule •Delivery Confirmation •Invoice sample 19/11/2009 14
  15. 15. Lease Agreement - 1 19/11/2009 15
  16. 16. Lease Agreement - 2 19/11/2009 16
  17. 17. Lease Agreement - 3 19/11/2009 17
  18. 18. Insurance - 1 19/11/2009 18
  19. 19. Insurance - 2 19/11/2009 19
  20. 20. Insurance - 3 19/11/2009 20
  21. 21. Schedule 2 – Asset Description 19/11/2009 21
  22. 22. Schedule 3 – Payment Schedule 19/11/2009 22
  23. 23. Schedule 4 – Confirmation by Lessee 19/11/2009 23
  24. 24. Sample Invoice 19/11/2009 24

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