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Plantation Valuation Workshop

Published At

29 June 2016

Published By

Anonymous Writer

Plantation Valuation Workshop
Thumbnail Plantation Valuation Workshop
MMPP is holding a plantation valuation workshop

The workshop is a regular agenda prepared by the Master's Program in Valuation and Property Management (MMPP) Study Program, Postgraduate School, Universitas Sumatera Utara (SPs USU) to provide valuation experience to students as a provision and their propriety as professionals in the field of valuation. This activity can help achieve the targeted graduate profile as an output of MMPP-SPs USU, one of which is to produce qualified and professional graduates as prospective property experts, property appraisers, business appraisers, and property researchers.
 

 

On this occasion, the Master's Program in Valuation and Property Management (MMPP-SPs USU) chose plantation valuation as the theme of the Workshop activity. The event lasted for two days, namely on July 21 and 22, 2017. A series of events were prepared systematically so that the process of absorbing knowledge and experience from the participants was optimal. On the first day, participants were prepared academically by receiving teaching materials while reviewing what they had learned during lectures. The material presented on the first day discussed the studies that will be applied the next day in assessing plantations. On the second day, participants conducted field practice in conducting plantation valuation in Tambunan Village, Langkat Regency, North Sumatra.
 

 

The speakers and mentors for this workshop were invited from the Indonesian Property and Appraisal Community (MAPPI), namely Ir. Taslim, MMPP., MAPPI (Cert), who is the chairman of MAPPI North Sumatra, and Ir. Hamid Yusuf, MM., MAPPI (Cert), who is the former chairman of MAPPI Pusat-Jakarta. This activity also involved MMPP alumni who have experience as student mentors in conducting plantation valuation activities.

The workshop began with remarks from the Secretary of the MMPP-SPs USU Study Program, Dr. Elisabet Siahaan, S.E., M.Ec., who explained that the main objective of this workshop was to provide knowledge and field experience for students in providing fair valuations of plantation assets, especially the value of plantations in the form of plant assets. She really hopes that in the future, MMPP graduates will be more competitive and have good assessment experience and skills. The next series of events was a speech by Prof. Dr. Robert Sibarani, M.S., Director of the Postgraduate School, Universitas Sumatera Utara. He really appreciated this activity, which provided experience and knowledge in preparing the competence of MMPP graduates. He invited students to be serious about participating in the series of activities provided so that this activity would be a moment to gain knowledge and experience directly from speakers and mentors who have experience in their fields. This activity is an effort by SP students to seek this knowledge and make the most of it. He also expressed his hope that this MMPP Study Program, which is the only study program in Indonesia, can and can make a significant contribution to North Sumatra and Indonesia and that this activity can contribute to the accreditation of study programs and universities.
 

 

The series of activities after the opening by the Secretary of MMPP and the Director of SPs USU was a briefing session. The first day's activities consisted of material briefings held at the MMPP-SPs USU Lecture Building on Friday, July 21, 2017. The main materials provided in this briefing included:
 

 

Scope of Assignment Phase
This phase provided a briefing on the obligations and considerations in conducting plantation valuations.

Implementation Phase
This phase covered implementing the valuation, including inspection techniques, applying valuation approaches, and preparing valuation worksheets.

 

Valuation Reporting
Valuation reporting is done using two forms, namely the Short Form and the Long Form or complete report.

  • Knowledge of legal aspects of land ownership or other parts of the property being assessed
  • Understanding of other legal regulations and provisions related to TRTB Pemko Medan
  • Market overview of residential and commercial properties in North Sumatra
  • Participants in the material briefing were given supporting materials that would be used in learning and would be applied the next day in direct field assessment of plantations. These supporting materials include:
    • Minutes of Inspection
    • Inspection Form
    • Reviewer Form
    • Plantation Valuation Report Format
    • Warehouse Valuation Report Format
    • Residential Property Valuation Report Format
    • MAPPI Standard - Technical Building Costs
    • MAPPI Standard - Material Index
    • MAPPI Standard - Floor Index
    • MAPPI Standard - Construction Cost Index
    • MAPPI Standard - Semi-Permanent Building Form
    • MAPPI Standard - Warehouse Form
    • MAPPI Standard - Office Form
    • MAPPI Standard - Residential Form

 

 

The second day's activities, on Saturday, July 22, 2017, involved practical plantation valuation in Tambunan Village, Langkat Regency, North Sumatra. Participants gathered at the MMPP Lecture Building in the morning and departed together on a prepared bus to the valuation site. Participants and mentors jointly conducted the valuation activities, starting from inspection, data collection, searching for comparable data, and preparing valuation reports. As an output of this workshop, participants were asked to submit reports in both short form and long form by Wednesday, August 9, 2017.

 

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