Judul: Analisis finansial hutan tanaman Sengon (Paraserianthes falcataria (L) Nielsen) dan industri veneer: studi kasus PT Nityasa Idola, Kalimantan Barat
Abstrak: Forest plays significant role in human life. One of them will be that it serves as wood producer. As population is getting greater, the need for wood and its processed product also increases. Unfortunately, the fact that the area of Indonesian nature forest is declining has resulted in failure to satisfy the need for industrial wood. Thus, serving as solution to satisfy the need of industrial wood, industrial plantation is finally developed. In the time being, industrial plantation plays important role in the frame of satisfying the need of national industrial wood. From the perspective of wood volume recently produced, industrial plant forest has slowly replaced the role of nature forest in satisfying the need of wood. Industrial plantation is considered the integral part of business activity with relatively durable investment period thus increasing investment risk. Therefore, prior to the implementation of industrial plantation development, it is highly important to generate well-organized planning. One of the industrial plantation planning activities will be financial analysis. This research aims to analyze financial feasibility of industrial plantation and veneer industry in PT Nityasa Idola. The expectation will be that this research could provide information concerning financial feasibility for sengon industrial plantation and veneer industry in PT. Nityasa Idola. The method of data processing applied in this research is financial analysis with three criteria assessed; those are Net Present Value (NPV), Benefit Cost Ratio (BCR) and Internal Rate of Returns (IRR), and the feasibility analysis period is calculated within 24 years. The investment of sengon industrial forest utilization by PT Nityasa Idola is not feasible to conduct at interest rate of 12%. The NPV reaches (IDR 192,769,710,566), BCR is 0.22, and IRR is -3.15%. The investment of sengon forest utilization by PT Nityasa Idola is feasible to conduct at interest rate of 12%. The NPV reaches IDR 17,995,905,895, BCR is 1.88, and IRR is 27.43%. This obviously shows that the investment of sengon forest utilization by PT Nityasa Idola is feasible to conduct at interest rate of 27,43%. The investment of combined utilization between sengon industrial plantation and veneer industry by PT Nityasa Idola is not feasible to conduct at interest rate of 12%. The NPV reaches (IDR 173.221.397.004), BCR is 0.56, and IRR is 0.87%. It means the investment of combined utilization between sengon forest and veneer industry by PT Nityasa Idola is feasible to conduct at interest rate of no more than 0.87%. Industrial plantation (HTI) and Veneer industrial utilizations remain in operation since both could only yield intermediate product in one corporate group; thus, it is feasible to estimate that the benefit can be obtained in final product.
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Judul: Comparative Feasibility Study of Rubber Agroforestry Business in Pelaihari Unit, Tanah Laut Regency, South Kalimantan
Abstrak: Pembangunan agroforestri sudah cukup lama dilaksanakan di Indonesia. Namun, sampai saat ini masih banyak tantangan pengelolaannya, salah satunya informasi skema agroforestri terbaik pada hutan tanaman industri yang masih terbatas. Pemanfaatan hutan karet di Unit Pelaihari Kabupaten Tanah Laut, Kalimantan Selatan milik PT. Inhutani III dikelola oleh dua perusahaan dengan skema agroforestri. Untuk itu, penelitian ini bertujuan menganalisis kelayakan finansial skema agroforestri yang telah dipraktikkan tersebut. Berdasarkan perhitungan analisis finansial, pengelolaan agroforestri karet, baik dengan tanaman sela singkong ataupun jagung adalah layak diusahakan. Namun, pada perbandingan per hektar usaha agroforestri karet, tanaman singkong memberikan nilai NPV, IRR, dan jangka waktu pengembalian (payback period) yang lebih baik dibanding tanaman jagung. Untuk itu, skema agroforestri karet layak diusahakan untuk pengembangan usaha, terutama dengan tanaman sela singkong. Manfaat yang didapat dari tumpangsari tidak hanya sebagai tanaman menghasilkan disaat tanaman utama belum menghasilkan, tetapi dapat meningkatkan pendapatan maksimum., Agroforestry development has been implemented in Indonesia for quite a long time. However, there are still many management challenges, one is the lack of information on the best agroforestry schemes in industrial plantation forests. PT. Inhutani III, in the Pelaihari Unit of Tanah Laut Regency, South Kalimantan, cooperates with two companies to utilize rubber forests under agroforestry schemes. In response, this study aimed to analyze the financial feasibility of the agroforestry scheme that has been practiced. Based on financial analysis, the management of rubber agroforestry with cassava or corn intercropping was feasible. However, in the ratio per hectare of rubber agroforestry business, cassava crops provided better NPV, IRR, and payback period values than corn crops. For this reason, the rubber agroforestry scheme is worth striving for business development, especially with cassava intercropping. The benefits derived from intercropping are not only as a yielding crop when the main crop is not yet harvested but can increase maximum income.
Keyword: agroforestry, financial analysis, plantation forest

Judul: Metrik Einstein (Anti-) Self-Dual Berdimensi Empat dengan Metode Cartan
Abstrak: Gravitational field equation can be formulated in differential forms (differential geometry), which describes gravity as a manifestation of the curvature of space-time. Curvature of space-time is characterized by a metric that satisfies the gravitational field equation. With differential forms it can be formulated the (anti-) self-dual Einstein equation, which is a modification of the Cartan structure in (anti-) self-dual basis. Calculation of (anti-) self-dual metric with (anti-) self-dual Einstein equation is simpler than the calculation using Christoffel symbols.
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