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Financial Modelling Book

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LPDP

Sharing my story to LPDP awardee #awardeestory
PwC community day
Community day is a one-day social activity held by the intern in Panti Sosial Bina Rungu Wicara “Melati”. I worked together with other interns and the stakeholders to create the concept of the event.
This event was published in the Indonesian Ministry of Social Affairs website. See the article below.
KUNJUNGAN BAKTI SOSIAL PRICEWATERHOUSECOOPERS – JAKARTA
Sabtu yang cerah mengiringi keceriaan penerima manfaat Panti Sosial Bina Rungu Wicara “Melati” – Bambu Apus. Bermain penuh kebahagiaan itulah yang terlihat dan terpancar dari wajah-wajah mereka, dengan semangat mereka mengikuti semua kegiatan hari ini yang sengaja dibuat oleh anggota PricewaterhouseCoopers. Diterima langsung oleh Kepala PSBRW “Melati”, Ibu Dra. Ign. Sri Wuwuh P, M.Si, rombongan karyawan sebanyak 50 orang dari Kantor Akuntan Publik “Tanudiredja, Wibisana & Rekan” – Jakarta, melaksanakan kegiatan kunjungan bakti sosial di Panti Sosial Bina Rungu Wicara “Melati”.
Melalui Ketua Rombongan, Benny Januar Tannawi, menyampaikan dalam sambutannya “..bahwa kegiatan ini sebagai bentuk dari rasa kepedulian terhadap sesama dan merupakan bentuk syukur bagi kami dalam menjalani hidup sebagai manusia dan selain berbagai, diharapkan dari kegiatan ini adanya pengalaman baru buat para penyandang disabilitas rungu wicara khususnya di Panti Melati..”, tegasnya.Agenda kegiatan ini meliputi permainan kelompok & sharing, outbound kecil dan diakhiri makan bersama serta pemberian bingkisan bantuan yang diperuntukan untuk kebutuhan penerima manfaat PSBRW “Melati” dan sejumlah peralatan kebutuhan asrama berupa kipas angin dan setrika yang diserahkan secara langsung oleh koordinator pelaksana kegiatan ini, Lolly Ariesta kepada Kepala PSBRW “Melati”.
“……………Terima kasih kakak-kakak, hari ini kami senang bisa bermain bersama..”. ….mungkin itulah kata hati anak-anak PSBRW Melati terhadap tamu rombongan ketika kegiatan ini berakhir. Terima kasih pun kami sampaikan dari segenap keluarga besar Panti Sosial Bina Rungu Wicara Melati, semoga amal ibadahnya dibalas oleh Tuhan Yang Maha Esa. Amiin.”
Link to the article :
http://melati.kemsos.go.id/modules.php?name=News&file=article&sid=71
UK
Edinburgh

Arthur’s seat – Edinburgh – Scotland – FEUI friends
Oxford and Cambridge
Swansea – Visited Durham’s best friend before went back for good
Seven Sisters – near Brighton
Football Stadium – Stamford Bridge, Old Trafford, Anfield
FEUI and High School Best Friends – before went to UK – Soekarno Hatta Airport
Durham University Private Equity and Venture Capital Club (DUPEVC)

Led Durham University Private Equity and Venture Capital Club to compete against MBA
Ambisiusnya Target Waktu Konsolidasi Operator Telekomunikasi
Oleh Benny Januar Tannawi, Vice President Mata Garuda Institute
This article was published in :
http://selular.id/insight/2017/02/ambisiusnya-target-waktu-konsolidasi-operator-telekomunikasi/
Pemerintah melalui Kementrian Informasi dan Komunikasi (Kominfo) menginstruksikan agar operator Broadband Wireless Access (BWA) melakukan konsolidasi yang selesai pada kuartal 1 tahun 2017. BWA adalah layanan akses data nirkabel dengan kecepatan tinggi. Frekuensi yang di gunakan untuk pita BWA adalah pita frekuensi 2300 Mhz. Terdapat lima pemain BWA di Indonesia, mereka adalah PT Telekomunikasi Indonesia, PT Indosat Mega Media, PT First Media, PT Internux dan PT Jasnita Telekomindo. Kelima operator ini memegang lisensi frekuensi pada zona yang berbeda-beda. PT Indosat Mega Media memegang satu zona yaitu Jawa Barat; PT First Media menguasai dua zona yaitu Jabodetabek (termasuk Banten) dan juga Sumatera Utara; PT Telekomunikasi Indonesia memegang lisensi untuk Zona Maluku; PT Jasnita Telekomindo memegang lisensi untuk zona Sulawesi Utara dan PT Berca Hardayaperkasa memegang sisa zona yang ada di Indonesia kecuali Jawa Tengah dan Jawa Barat.
Dengan tujuan untuk mengefisiensikan industri telekomunikasi, Kominfo mengharapkan kelima operator tersebut berkonsolidasi sehingga akan hanya ada satu perusahaan yang memegang lisensi atas semua zona di Indonesia yaitu sebesar 30 Mhz pada pita frekuensi 2300 Mhz. Target waktu konsolidasi yang ditetapkan Kominfo adalah selesai pada kuartal 1 tahun 2017. Namun, hingga pertengahan kuartal 1 2017, tidak terdapat informasi atas kemajuan proses konsolidasi ini. Dengan kata lain, target waktu konsolidasi lima operator BWA yang diharapkan selesai pada kuartal I 2017 kemungkinan kecil akan tercapai. Kompleksitas konsolidasi perusahaan, banyaknya pihak yang terkait, dan juga sistem kesepakatan B2B (business to business) akan menjadi faktor-faktor krusial dalam tercapainya target waktu konsolidasi yang sangat singkat ini. Dengan mempertimbangkan tiga faktor tersebut, sisa waktu sekitar satu bulan adalah terlalu singkat.
Kompleksitas konsolidasi
Tingkat kompleksitas konsolidasi dengan lima operator termasuk tinggi. Terdapat tiga kompleksitas atas konsolidasi yang akan di hadapi oleh lima operator BWA. Pertama, banyaknya jumlah operator yang terlibat dalam proses konsolidasi ini. Setiap operator memiliki proses waktu pengambilan keputusan internal yang berbeda-beda. Dengan banyaknya jumlah operator yang terlibat, akan terdapat tantangan untuk mengharmonisasi waktu pengambilan keputusan karena setiap operator menjalani proses internal yang masing-masing. Dengan kata lain, semakin bertambah pula tingkat kesulitan untuk mengharmonisasi waktu pengambilan keputusan setiap operator. Kedua, negosiasi B2B setiap operator dapat berjalan secara lambat. Dengan menggunakan proses B2B, setiap operator diharapkan untuk bernegosiasi dengan operator lainnya. Dengan adanya lima operator, berarti satu operator harus bernegosiasi dengan empat operator lain secara terpisah. Selain itu, dalam hal negosiasi, setiap operator akan memberikan proposal yang menguntungkan dirinya sendiri. Proses ini dapat terjadi berulang kali karena satu operator akan berbicara dengan empat operator lain, dan setiap proses dengan operator lain tidak akan selesai dalam satu kali pertemuan. Ketiga, rumitnya proses kesepakatan konsolidasi bila menjadi satu perusahaan baru. Segala proses yang berkaitan dengan konsolidasi menjadi satu perusahaan seperti tata kelola perusahaan, procurement, penentuan wilayah frekuensi, pembagian hasil, dan lainnya harus di lakukan di awal untuk mencegah terjadinya masalah di kemudian hari. Bila hal ini dilakukan, proses ini akan kembali memakan waktu yang dapat mencapai hitungan bulan.
Kemungkinan skenario
Ada dua kemungkinan skenario yang dapat terjadi pada konsolidasi ini. Kemungkinan pertama adalah melebur dengan menjadi satu perusahaan baru. Alasan atas kemungkinan skenario ini adalah dapat terciptanya keadilan atas pembagian biaya dan pendapatan setiap operator karena setiap operator tersebut menjadi pemegang saham sesuai dengan persentase masing-masing yang akan disepakati nanti. Skenario kedua adalah melebur kepada satu operator BWA yang besar. Terdapat dua alasan mengapa skenario kedua dapat terjadi yaitu adanya operator BWA yang bisnis BWA-nya belum berjalan atau belum mendapatkan keuntungan dan adanya operator BWA besar seperti Telkom atau operator BWA yang di sokong oleh operator seluler besar (IM2, yang merupakan anak perusahaan dari Indosat Ooredoo). Dengan mempertimbangkan kompleksitas yang tinggi dan juga kemampuan perusahaan, kemungkinan besar skenario kedua yang akan terjadi, yaitu para operator BWA kecil yang akan melebur kepada Telkom atau Indosat Ooredoo (IM2).
Target waktu yang kurang realistis
Target waktu yang ditetapkan pemerintah kurang realistis. Terdapat beberapa alasan akan hal ini. Pertama, konsultan independen membutuhkan waktu untuk membuat penilaian setiap operator. Para operator yang bisnisnya belum berjalan harus membuat rencana bisnis yang akan di gunakan sebagai masukan untuk konsultan melakukan valuasi. Tantangan muncul karena membuat rencana bisnis agar selesai dalam hitungan hari membutuhkan usaha yang tidak sedikit. Selain itu, konsultan juga harus berkomunikasi dengan setiap operator secara simultan untuk mengejar target waktu yang ditetapkan pemerintah. Kedua, kompleksitas proses konsolidasi. Banyaknya operator yang terlibat, proses kesepakatan yang menggunakan B2B dan juga banyaknya hal yang harus di selesaikan di awal untuk menghindari konflik di masa depan merupakan tantangan untuk mencapai target waktu pemerintah. Ketiga, membutuhkan persetujuan dari para pemegang saham dan melaksanakan Rapat Umum Pemegang Saham (RUPS) atau RUPS Luar Biasa bagi perusahaan publik kembali membutuhkan waktu bulanan, bila tidak mingguan.
Kecilnya kemungkinan konsolidasi selesai pada kuartal satu tahun 2017
Target waktu yang ditetapkan pemerintah yaitu kuartal I 2017 adalah tidak realistis. Kompleksitas konsolidasi seperti banyaknya operator yang terlibat, proses negosiasi berdasarkan B2B, dan juga banyaknya hal yang harus di selesaikan di awal adalah faktor utama yang dapat menjadi penyebab terlambatnya target kuarta I 2017. Selain itu, konsolidasi terburu-buru dapat menimbulkan konflik di kemudian hari apabila banyak hal-hal yang seharusnya di selesaikan di awal tidak terselesaikan. Dibutuhkan periode waktu yang realistis dan juga dukungan dari pemerintah sebagai penengah agar proses konsolidasi ini dapat berjalan lancar. Apabila periode waktu realistis dan pemerintah menjadi pihak penengah dalam proses konsolidasi ini, target periode waktu yang realistis tersebut dapat tercapai dan semua pihak akan merasa win-win.
A ‘Pokemon-Go’ alike opportunity for Telecom Industry
A beginning
An epidemic called Pokemon-go is happening around the world, including Indonesia. Pokemon was happening around late 1990s. Movies, video games, and card games emerged around the world. After several years, it was dim around 2003. Pokemon-Go is an augmented reality game published by Niantic Labs. Augmented reality is a technology combining real world and computer images. The users can experience catching the pokemon as if they catch in the real world.
Many have said the future of technology is mobile, especially smart phones. With smart phones, people can do a lot of things such as ordering taxi (Uber), showing route to our destination (google maps), etc. Our daily life much depends on with mobile thus it cannot be separated with data usage. Based on CLSA research, mobile data traffic increased around 250% in the past 2 years from less than 1000 TB/day in Q1 2014 to more than 2500 TB/day in Q4 2015. With many start-up companies emerge from the past 2 years, data consumption is just a beginning, leading to an opportunity for telecom companies.
Opportunity for Telecom companies
First, marketing opportunity. A big issue for telecom companies is to grab market share. As Pokemon-Go is happening right now, telecom companies can use this opportunity as a marketing strategy to increase or retain their market share. Pokemon-Go is just a beginning for augmented-reality-based games. Partnership with ‘Pokemon-Go’ alike game provider may be one of the strategies for telecom companies in grabbing market share of the competitors.
Second, data usage. From the CLSA research report, data usage significantly increased during the past 2 years and industry ARPU increased from around 19% per month from 2014 to 2015. As ‘Pokemon-Go’ alike games will emerge in the future, it will require a big data consumption leading to increase the average revenue per user (ARPU) of the telecom companies.
Disadvantages
For sure, there is no such an easy way to grab the opportunity. High churn rate for Indonesian telecom companies is one of unsolved issue for years. Indonesians throw away their old sim card and buy the new sim card offering the cheaper package. Telecom companies offer a cheaper package to grab the market share, however, the customers buy a new sim card with a cheaper package.
Conclusion
Apart from some disadvantages, opportunities are widely open and likely continue to arise. More aggressive provider in taking the future opportunity of ‘Pokemon-Go’ alike games may result in leading the market. What a ‘Pokemon-Go’ alike games that will boom is a separate issue that needs to be addressed further.
Benny Januar Tannawi
Vice President, Mata Garuda Institute
18 July 2016
End of A Journey?
26 July 2015. This was the first time I put my step in Newcastle, UK. Confused by the term ‘coach’ for the first time, I was the only Indonesian among the Chinese. Sat with a Vietnamese, who later become one of my study friends, we were talking about why we chose our degree. Yes, we were notice that this was just beginning of our life changing journey later.
I took four subjects in the first term. One of the subjects was Security Analysis. I was quite lucky I got a group consists of different nationalities: German, Belgian, Morocco, Austrian, and British, who later become my best friend. J
Tried to make some friends were never easy as it seems. I was struggling for some topics, I need a study partner who has a strong willingness to have a discussion. This was the reason I asked the British guy to solve some problems for some certain topics.
I was very struggling. I had to go to library in the morning, went home at midnight just to study those all subjects. If I didn’t understand, I opened a Google and searched for the topics that I didn’t understand. Repeated this process until I understood. If the assignment was a project or essay, I proofread many times, and tried to criticise by myself. Then, I hire a proofread service to proofread my essay again and to criticise my essay. Then I will proofread again for the last time. If you think why I overly did the proofread, that was because I didn’t like someone seeing my essay have many typos in it. Did the proofread service significantly increase the score of my essay? It didn’t. But I did believe it increased the chance to get a higher score. J
In November 2014, I passed the interview as a President of Private Equity and Venture Capital Club in Durham University. Did I apply to be a President? No. But I did have a strong motivation to join the club. That was the time when I did not carefully read the announcement as they were looking for President and Vice President but I sent my application to be a Senior Analyst. Thus, was I the only one applying for this club so in the end I was selected as a President? Perhaps yes. However, I didn’t care about that.
Still in November 2014, I was chosen to represent Durham for a study abroad program – to France. Luckily, the chosen one will automatically get a scholarship from Erasmus+. Then, I went to France from 10 June to 7 September. I met an old lady who later known as the mother of the partner of the world-famous management consultancy firm in Indonesia. Yes it was such a coincidence (read ‘Grenoble: An Unexpected Journey’).
After experiencing an exchange (I once failed to go exchange to USA), I got a chance to taste an internship in BNI London. Apart from that, I involved in a badminton community and join a competition. Luckily, London dominated all the finals and semi-finals and I reached final though I wasn’t the first winner. J
Finished internship and the badminton tournament, travelling was my next target. I failed trying to travel around Europe due to my duration of stay in my Schengen visa. Therefore, travelling around UK was an alternative choice for me. Oxford, Cambridge, Seven Sisters, Belfast and Liverpool were my destination. Other big cities – such as Machester, Edinburgh, etc – have been visited before.
5 November 2015, email came inside from the master office. It was an announcement of my dissertation result. Luckily, I have been awarded masters with Distinction. Was I happy? Of course. But the next target is to bring my parents to attend my graduation in January. For some reasons, this conggregation is very important for me – if you ask me, I prefer to postpone my job application or whatever it is than if I cannot attend my graduation.
Time goes by, two months – after I submitted my dissertation – are too short. I feel that this is the time for me to end my journey in UK after I had a great time. Another unexpected journey awaits me. Thus, Is this really the end? It depends on your point of view. I believe not. J
Benny Januar Tannawi – Durham, Grenoble and London
15 November 2015 – 16 November 2015
Inside the Etihad Airways, in the middle of a journey between London – Abu Dhabi (Seat 71H) and Abu Dhabi – Jakarta (Seat 24 D).
How will you measure your life

A very recommended book to be read!
https://hbr.org/2010/07/how-will-you-measure-your-life
Here is the executive summary taken from the Harvard Business Review site.
“Harvard Business School’s Christensen teaches aspiring MBAs how to apply management and innovation theories to build stronger companies. But he also believes that these models can help people lead better lives. In this article, he explains how, exploring questions everyone needs to ask: How can I be happy in my career? How can I be sure that my relationship with my family is an enduring source of happiness? And how can I live my life with integrity?
The answer to the first question comes from Frederick Herzberg’s assertion that the most powerful motivator isn’t money; it’s the opportunity to learn, grow in responsibilities, contribute, and be recognized. That’s why management, if practiced well, can be the noblest of occupations; no others offer as many ways to help people find those opportunities. It isn’t about buying, selling, and investing in companies, as many think.
The principles of resource allocation can help people attain happiness at home. If not managed masterfully, what emerges from a firm’s resource allocation process can be very different from the strategy management intended to follow. That’s true in life too: If you’re not guided by a clear sense of purpose, you’re likely to fritter away your time and energy on obtaining the most tangible, short-term signs of achievement, not what’s really important to you.
And just as a focus on marginal costs can cause bad corporate decisions, it can lead people astray. The marginal cost of doing something wrong “just this once” always seems alluringly low. You don’t see the end result to which that path leads. The key is to define what you stand for and draw the line in a safe place”.
Simple Sentence, Huge Impact

The picture above describe three different words which are: Faith, Trust, and Hope.
I saw this picture when I opened the recent status update in my cellphone. When seeing this picture, I asked myself whether I have those three important words in my life or not. Then I realised that I do not have any faith, trust, or hope.
Day by day, it getting worst since I want to pursue my master degree outside Indonesia. My chance to pursue the master degree shrinks. It affects my faith, trust, and hope to God, parents, friends, and others. I did not believe in anyone else than myself.
One day, my mother came to my room and she told me that she has bought some new suitcase. I asked her : “Mom, Why do you buy this suitcase? for what?”. Then, she answered : “I buy it for you. This year, you will study abroad right? At that time, you don’t need to buy it again”. I surprised with her answered because she believed that my dream will be realised soon. She always believe in me that I could reach my dream.
From her words, I realised that she have a faith in God, a trust in me, and hope in God and me.
How can I know that?
1. By the time, she bought me some suitcase although I have not been accepted in university, I realised that she put her faith in God. She believes God will answer my prayer to make it happened.
2. By the time, she said that I will study abroad this year, I realised that she put trust in me. She trust her son more than she trust others.
3. By the time she walked into my room and said about those words, she has a hope in God that something that could be happened.
“I buy it for you. This year, you will study abroad right? At that time, you don’t need to buy it again”.
Simple sentences that motivates me more than anything else to realise my big dream.
1 February 2014,
Benny Januar Tannawi
