Kiss Project - Solar Panel (Monthly Rest) 180814

CAPITAL EXPENDITURE - COMMISIONING OF 1 MWp GRID CONNECTED PV SYSTEM
To Design, supply , deliver , install, testing and commisioning of 1MWp grid

connected PV system and all ancillary works on the land lot ,Kuala Pilah
District, Negeri Sembilan
1 Solar PV Module HANWHA 250Wp

2 Solar PV string inverter-17kW
3 PV Monitoring System
4 Mechanical works
5 Electrical works for DC parts
6 System Design and Consultancy works
7 System testing and commisioning report
8 2 years operation and maintenance programme
9 Logistic all the components to the site
Extended Warranty for inverter
TOTAL BIPV SYSTEM PRICE WITH TAX AND DUTY
Brand/Model
Quantity/Lot
Unit Rate (RM)
Total Price (RM)
HSL-60
STP 17000TL-10
SMA
Local
Local
-
4000
50
1 Lot
1 Lot
1 Lot
1 Lot
1 Lot
1 Lot
Lump Sum
20 years
820
21,650
8,850
1,878,500
1,106,000
70,000
50,000
Inclusive
Inclusive
3,280,000
1,082,500
8,850
1,878,500
1,106,000
70,000
50,000
-
( 1 UNITS )
274,250
7,750,100.00
Koperasi KISS Berhad

Monthly Operation Cost - Solar 1MWp
Item
Based Rate
Unit Req.
Monthly
Year 1
Year 2
Year 3
Year 4
Year 5
18,000
6,000
5,400
36,000
12,000
10,800
37,440
12,480
11,232
38,938
12,979
11,681
40,495
13,498
12,149
29,400
58,800
61,152
63,598
66,142
6,000
6,000
6,000
6,000
6,000
1,200
1,200
1,200
3,600
2,400
1,200
1,200
1,200
3,600
2,400
1,200
1,200
1,200
3,600
2,400
1,248
1,248
1,248
3,744
2,496
1,298
1,298
1,298
3,894
2,596
1,350
1,350
1,350
4,050
2,700
9,600
9,600
9,600
9,984
10,383
10,799
45,000
74,400
77,136
79,981
82,941
Total
Salary
Chargeman
Account Officer
General Worker
3,000
1,800
1,300
1
1
1
3,000
1,800
1,300
Office Rental (monthly)
500
Telephone Bill
Electricity
Water
Travelling - Petrol, parking and toll
Other Expenses
100
100
100
300
200
Total Facility cost

Total Monthly Operation Cost
7,400
955,612
19,502
19,502
#REF!
19,502
58,507
39,005
Operational Cost
Year 6
Year 7
Year 8
Year 9
Year 10
Year 11
Year 12
Year 13
Year 14
Year 15
Year 16
Year 17
Year 18
Year 19
42,115
14,038
12,634
43,800
14,600
13,140
45,551
15,184
13,665
47,374
15,791
14,212
49,268
16,423
14,781
51,239
17,080
15,372
53,289
17,763
15,987
55,420
18,473
16,626
57,637
19,212
17,291
59,943
19,981
17,983
62,340
20,780
18,702
64,834
21,611
19,450
67,427
22,476
20,228
70,124
23,375
21,037
68,788
71,539
74,401
77,377
80,472
83,691
87,038
90,520
94,141
97,906
101,823
105,895
110,131
114,537
6,000
6,000
6,000
6,000
6,000
6,000
6,000
6,000
6,000
6,000
6,000
6,000
6,000
6,000
1,404
1,404
1,404
4,211
2,808
1,460
1,460
1,460
4,380
2,920
1,518
1,518
1,518
4,555
3,037
1,579
1,579
1,579
4,737
3,158
1,642
1,642
1,642
4,927
3,285
1,708
1,708
1,708
5,124
3,416
1,776
1,776
1,776
5,329
3,553
1,847
1,847
1,847
5,542
3,695
1,921
1,921
1,921
5,764
3,842
1,998
1,998
1,998
5,994
3,996
2,078
2,078
2,078
6,234
4,156
2,161
2,161
2,161
6,483
4,322
2,248
2,248
2,248
6,743
4,495
2,337
2,337
2,337
7,012
4,675
11,231
11,680
12,147
12,633
13,138
13,664
14,210
14,779
15,370
15,985
16,624
17,289
17,981
18,700
86,018
89,219
92,548
96,010
99,610
103,355
107,249
111,299
115,511
119,891
124,447
129,185
134,112
139,236
675,387
13,783
13,783
#REF!
13,783
41,350
27,567
Year 20
Year 21
72,929
24,310
21,879
75,847
25,282
22,754
119,118
123,883
6,000
6,000
2,431
2,431
2,431
7,293
4,862
2,528
2,528
2,528
7,585
5,056
19,448
20,226
144,566
150,108
Ko
Cash Flow For T
2014
Yea
2016
PRE-OPERATING COST
Inflow
Average Sales Output - 1MWp
Refund from Tender Bond
Refund from Performance Bond
Proposed Loan from SKM
Year 0
Year 1
0
90,000
1,342,548
200,000
7,800,000
7,890,000
(A)
1,542,548
OutFlow
7,525,000
20,000
100,000
200,000
130,000
49,900
0
1,400,000
58,800
9,600
6,000
72000
75,250
EPC cost
PSS cost to TNB
Tender bond
Performance bond
Misc Cost (fencing & land preparation)
Initial OPEX
Vehicles
Land cost (lease rental paid upfront)
Manpower cost
facility cost
office rental
KISS Management Fee
O&M
insurance (0.05% of project cost)
Loan Repayment to SKM - Interest Portion
0
0
0
0
0
0
0
61,152
9,984
6,240
74880
75,250
231,975
162,950
0.00
9,646,550
622,431
0.00
RM thousand
0.00
RM thousand
18%
-1,756,550
-1757
-1,756,550
-1757
920,117
920
-836,433
-836
Loan Repayment to SKM - Principal Portion
Total Expenses
Balance c/f (A)- (B)
Accumulative Cashflow
IRR
(B)
Underlying Assumptions :
1500
1 Loan will be secured at 100% project cost
2 Loan repayable for 15 years
3 Loan interest will be calculated at 6% from financing cost
4 Grace period:
5 Land Lease cost will be paid in lump sum at initial year
6 Contracted period with TNB will be 21 years
1000
500
0
1
-500
-1000
-1500
-2000

Cash Flow For The Yer Ended 2016 - 2036 for 1MWp
Year With Financing
2017
2018
2019
2020
2021
2022
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
1,329,123
1,315,697
1,302,272
1,288,846
1,275,421
1,261,995
1,329,123
1,315,697
1,302,272
1,288,846
1,275,421
1,261,995
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
63,598
10,383
6,490
77875
75,250
37625
448,950
0
0
0
0
66,142
10,799
6,749
80990
75,250
37625
427,924
0
0
0
0
68,788
11,231
7,019
84230
75,250
37625
405,601
0
0
0
0
71,539
11,680
7,300
87599
75,250
37625
381,901
0
0
0
0
74,401
12,147
7,592
91103
75,250
37625
356,740
0
0
0
0
77,377
12,633
7,896
94747
75,250
37625
330,026
340,900
361,926
384,249
407,949
433,110
459,824
1,061,071
1,067,405
1,073,992
1,080,843
1,087,968
1,095,377
268,052
268
-568,381
-568
248,292
248
-320,089
-320
228,280
228
-91,810
-92
208,003
208
116,193
116
18%
187,453
187
303,647
304
166,618
167
470,264
470
10
11
Annual Cashflow
12
13
14
15
16
17
18
19
20
21
22
2023
Year 8
2024
Year 9
2025
Year 10
2026
Year 11
2027
Year 12
2028
Year 13
1,248,570
1,221,719
1,208,293
1,194,868
1,181,442
1,181,442
1,248,570
1,221,719
1,208,293
1,194,868
1,181,442
1,181,442
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
80,472
13,138
8,211
98537
75,250
37625
301,665
0
0
0
0
83,691
13,664
8,540
102478
75,250
37625
271,555
0
0
0
0
87,038
14,210
8,881
106578
75,250
37625
239,588
0
0
0
0
90,520
14,779
9,237
110841
75,250
37625
205,649
0
0
0
0
94,141
15,370
9,606
115274
75,250
37625
169,617
0
0
0
0
97,906
15,985
9,990
119885
75,250
37625
131,362
488,185
518,295
550,262
584,201
620,233
658,488
1,103,083
1,111,098
1,119,433
1,128,101
1,137,116
1,146,492
145,487
145
615,751
616
110,621
111
726,372
726
88,860
89
815,232
815
66,767
67
881,999
882
44,326
44
926,325
926
34,950
35
961,275
961
18%
6000
5000
4000
3000
2000
1000
0
1
-1000
-2000
-3000
10
11
12
13
14
2029
Year14
2030
Year 15
2031
Year 16
2032
Year 17
2033
2034
2035
2036
Year 18
Year 19
Year 20
Year 21
1,168,017
1,154,591
1,141,166
1,127,740
1,114,315 1,100,889 1,087,464 1,075,038
1,168,017
1,154,591
1,141,166
1,127,740
1,114,315 1,100,889 1,087,464 1,075,038
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
101,823
16,624
10,390
124681
75,250
37625
90,748
0
0
0
0
105,895
17,289
10,806
129668
75,250
37625
47,629
0
0
0
0
110,131
17,981
11,238
134855
75,250
37625
6,820
0
0
0
0
114,537
18,700
11,687
140249
75,250
37625
0
0
0
0
0
119,118
19,448
12,155
145859
75,250
37625
0
0
0
0
0
123,883
20,226
12,641
151693
75,250
37625
0
0
0
0
0
128,838
21,035
13,147
157761
75,250
37625
0
0
0
0
0
133,992
21,876
13,673
164071
75,250
37625
0
10
11
12
699,102
742,221
388,105
1,156,242
1,166,383
782,004
398,048
409,455
421,318
433,655
446,487
11,775
12
973,050
973
-11,792
-12
961,258
961
359,162
359
1,320,419
1320
729,692
730
2,050,112
2050
13
14
15
16
Cumulative Cashflow
17
18
19
20
21
22
704,860
679,571
653,809
628,551
705
680
654
629
2,754,972 3,434,543 4,088,352 4,716,903
2755
3435
4088
4717
2014
Inflow
Proposed Loan from SKM
0
(A)
OutFlow
EPC cost
PSS cost to TNB
Tender bond
Performance bond
Initial CAPEX
Vehicles
Manpower cost
facility cost
office rental
KISS Management Fee
O&M

Total Expenses
Accumulative Cashflow
IRR
(B)
0.00
0.00
RM thousand
0.00
RM thousand
6%
1 Loan will be secured at 100% project cost

2 Loan repayable for 15 years
3 Loan interest will be calculated at 6% from financing cost
4 Grace period:

Cash Flow For The Yer Ended 2016 - 2036 for 1MWp
Year With Financing
2016
PRE-OPERATING COST
2017
2018
Year 0
Year 1
Year 2
Year 3
0
90,000
8,525,110
8,615,110
1,342,548
1,329,123
1,315,697
1,342,548
1,329,123
1,315,697
8,525,110
20,000
100,000
200,000
130,000
49,900
110,000
1,400,000
58,800
9,600
6,000
72000
85,251
0
0
0
0
0
0
0
0
0
0
0
0
0
61,152
9,984
6,000
74880
85,251
0
0
0
0
63,598
10,383
6,000
77875
85,251
37625
475,911
568,341
0
0
0
66,142
10,799
6,000
80990
85,251
37625
441,811
568,341
0
0
294,891
331,532
10,766,661
863,690
1,324,985
1,296,959
-2,151,551
-2152
-2,151,551
-2152
478,858
479
-1,672,693
-1673
4,138
4
-1,668,555
-1669
18,738
19
-1,649,817
-1650
1500
1000
500
0
1
-500
-1000
-1500
-2000
10 11 12 13 14 15 16 17 18 19 20 21 22
erhad
016 - 2036 for 1MWp
g
2019
2020
2021
2022
Year 4
Year 5
Year 6
Year 7
1,302,272
1,288,846
1,275,421
1,261,995
1,302,272
1,288,846
1,275,421
1,261,995
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
137,500
0
71,539
11,680
6,000
87599
85,251
37625
373,610
568,341
0
0
0
0
0
74,401
12,147
6,000
91103
85,251
37625
339,510
568,341
0
77,377
12,633
6,000
94747
85,251
37625
305,409
568,341
0
68,788
11,231
6,000
84230
85,251
37625
407,710
568,341
1,269,175
1,379,145
1,214,377
1,187,383
33,097
33
-1,616,720
-1617
-90,299
-90
-1,707,019
-1707
61,044
61
-1,645,975
-1646
74,612
75
-1,571,363
-1571
17 18 19 20 21 22
2023
Year 8
2024
Year 9
2025
Year 10
2026
Year 11
1,248,570
1,221,719
1,208,293
1,194,868
1,248,570
1,221,719
1,208,293
1,194,868
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
80,472
13,138
6,000
98537
85,251
37625
271,309
568,341
0
83,691
13,664
6,000
102478
85,251
37625
237,208
568,341
0
0
171,875
0
87,038
14,210
6,000
106578
85,251
37625
203,108
568,341
0
90,520
14,779
6,000
110841
85,251
37625
169,007
568,341
1,160,673
1,134,258
1,280,026
1,082,364
87,897
88
-1,483,465
-1483
87,461
87
-1,396,004
-1396
-71,733
-72
-1,467,737
-1468
112,504
113
-1,355,233
-1355
2027
Year 12
2028
Year 13
2029
Year14
2030
Year 15
1,181,442
1,181,442
1,168,017
1,154,591
1,181,442
1,181,442
1,168,017
1,154,591
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
94,141
15,370
6,000
115274
85,251
37625
134,907
568,341
0
97,906
15,985
6,000
119885
85,251
37625
100,807
568,341
0
101,823
16,624
6,000
124681
85,251
37625
66,706
568,341
0
105,895
17,289
6,000
129668
85,251
37625
32,606
568,341
1,056,909
1,031,800
1,007,050
982,675
124,533
125
-1,230,699
-1231
149,642
150
-1,081,057
-1081
160,967
161
-920,090
-920
171,916
172
-748,174
-748
6000
5000
4000
3000
2000
1000
0
-1000
-2000
-3000
10 11 12 13 14 15 16 17 18 19 20 21 22
2031
Year 16
2032
Year 17
2033
2034
2035
2036
Year 18
Year 19
Year 20
Year 21
1,141,166
1,127,740
1,114,315 1,100,889 1,087,464 1,075,038
1,141,166
1,127,740
1,114,315 1,100,889 1,087,464 1,075,038
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
110,131
17,981
6,000
134855
85,251
37625
3,511
236,809
0
114,537
18,700
6,000
140249
85,251
37625
0
0
0
119,118
19,448
6,000
145859
85,251
37625
0
0
0
123,883
20,226
6,000
151693
85,251
37625
0
0
0
128,838
21,035
6,000
157761
85,251
37625
0
0
0
133,992
21,876
6,000
164071
85,251
37625
0
0
413,301
424,678
436,510
448,815
632,163
402,361
509,003
509
-239,170
-239
725,379
725
486,208
486
701,014
676,211
650,954
626,223
701
676
651
626
1,187,222 1,863,434 2,514,388 3,140,611
1187
1863
2514
3141
17 18 19 20 21 22
SPV Co. (XYZ Sdn Bhd)

Profit and Loss For 2015-2036
Notes
Year 1
Year 2
Year 3
Year 4
1,342,548
1,329,123
1,315,697
1,315,697
4,656
4,656
5,122
5,122
5,634
5,634
6,197
6,197
1,337,892
1,324,001
1,310,063
1,309,500
9,984
6,240
74,880
1,200
Err:509
75,000
Err:509
43,196
10,383
6,490
77,875
1,200
37,625
75,000
Err:509
43,196
10,799
6,749
80,990
1,248
39,130
75,000
Err:509
43,196
11,231
7,019
84,230
1,298
40,695
75,000
Err:509
43,196
Total Expenses
Err:509
Err:509
Err:509
Err:509
Profit before tax
Err:509
Err:509
Err:509
Err:509
Err:509
Err:509
Err:509
Err:509
Err:509
Err:509
Err:509
Err:509
Average Sales Output - 1000MWc
Less : Chemical
Utilities
Cost of Good Sold
Gross Profit
Less: Expenses
Salary
Travelling - Petrol, parking and toll
Rental
Telephone Bill
Other Expenses
Interest on loan Repayment to SKM
KISS Management Fees
Depreciation
Attributable Profit (80%)

Reserve (20%) for future development
Note 1
Err:509
Err:509
Err:509
Err:509
Err:509
Err:509
Err:509
Err:509
Err:509
Err:509
Err:509
Err:509
Err:509
Err:509
Err:509
Err:509
Profit Sharing :
Koperasi Keluarga Ismail Salmah Selangor Berhad
Other parties
Note 1 :
a Depreciation is calculated at 10% over 10 years
(4319647 x 0.10 /10 )
c Profit and Loss Calculation is before Insurance
60%
40%
SPV Co. (XYZ Sdn Bhd)

Profit and Loss For 2015-2036
Year 5
1,315,697
6,817
6,817
1,308,880
11,680
7,300
87,599
1,350
42,323
75,000
Err:509
43,196
Err:509
Err:509
Err:509
Err:509
Err:509
Err:509
Err:509
Err:509
91,810; 5%
116,193; 6%
320,089; 17%
836,433; 43%
568,381; 29%
Net Cash Flow of the project from year 2015-2036
ATTRIBUTABLE PROFIT TO RELEVANT

PARTIES
ATTRIBUTABLE PROFIT TO RELEVANT

PARTIES
-2036
NT
PROFIT BEFORE TAX FROM 2015-2019
12
10
8
6
4
2
0
1
Profit Sharing :
KISS
Other Parties
NT
Profit Sharing :
KISS
Other Parties
Assumption
Unit
IRR (post finance post tax)
Capacity
Project Cost
PSS cost to TNB
Tender Bond
Vehicles
Initial CAPEX
Land
RM
RM
RM
RM
Construction commencement
Operation commencement
OPEX
manpower
facility cost
office rental
KISS Management Fee
services
O&M
Total OPEX
Year
Year
escalation p.a.
Project life
%
year
Financing
Loan
Interest on borrowing
Loan repayment commencement
Loan repayment tenure
RM/yearly
RM/yearly
RM/yearly
RM/yearly
RM
RM
RM/yearly
RM
RM
%
years
years with interest
total interest and p
Total loan tenure
Monthly payment of loan

Loan from KISS
Corporate tax rate remain at 24% for the whole period
First 10 years tax holiday starting from 10 January 2016
Financing: grace period for the first 6 months, no interest and no repayment of principle
Base Case
Case 1
Case 2
Case 3
18%
6%
1
7,525,000
20,000
100,000
110,000
49,900
1,400,000
7,755,001
1
8,525,110
20,000
100,000
110,000
49,900
1,400,000
1
7,750,100
20,000
100,000
110,000
49,900
1,400,000
58,800
9,600
6,000
72000
58,800
9,600
6,000
72000
58,800
9,600
6,000
72000
75,250
221,650
37625
85,251
231,651
42626
77,501
223,901
38751
4
21
4
21
4
21
7,800,000
4
year 1
8,525,110
10,000,000
4
6
year 1
year 1
0
0
0
15
15
15
15
15
15
120000
d no repayment of principle
120000
120000
Interest
Total loan
Case 1 & 2
6%
7,800,000
Pre-Ops
Loan drawdown
Total repayment
Interest
Shareholders loan
Interest calculation
Balance drawdown
January (principle)
January (Interest)
Balance drawdown
February (principle)
February (Interest)
Balance drawdown
March (principle)
March (Interest)
Balance drawdown
April (principle)
April (Interest)
Balance drawdown
May (principle)
May (Interest)
Balance drawdown
June (principle)
June (Interest)
Balance drawdown
July (principle)
July (Interest)
Balance drawdown
August (principle)
August (Interest)
Balance drawdown
September (principle)
September (interest)
Balance drawdown
October (principle)
October (interest)
Balance drawdown
November (principle)
November (interest)
Balance drawdown
December (principle)
December (interest)
0
0
0
0
31
28
31
30
31
30
31
31
30
31
30
31
Monthly
###
Year
y1
2014
2015
2016
0
1
2
0
0
7,800,000
0
0
(303,333)
0
0
(269,809)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
###
0
0
###
0
0
###
0
0
###
0
0
###
0
0
###
0
0
###
0
0
###
0
0
###
0
0
###
0
0
7,800,000
0
0
7,800,000
0
0
7,800,000
0
0
7,800,000
0
0
7,800,000
0
0
7,800,000
(43,333)
(38,466)
7,756,667
(43,333)
(39,527)
7,713,333
(43,333)
(39,306)
7,670,000
(43,333)
(37,825)
7,626,667
(43,333)
(38,865)
7,583,333
(43,333)
(37,397)
7,540,000
(43,333)
(38,423)
Balance drawdown
Interest
Total loan
Case 3
6%
10,000,000
Pre-Ops
Loan drawdown
Total repayment
Interest
Shareholders loan
Balance drawdown
January (principle)
January (Interest)
Balance drawdown
February (Interest)
Balance drawdown
March (principle)
March (Interest)
Balance drawdown
April (principle)
April (Interest)
Balance drawdown
May (principle)
May (Interest)
Balance drawdown
June (principle)
June (Interest)
Balance drawdown
July (principle)
July (Interest)
Balance drawdown
August (principle)
August (Interest)
Balance drawdown
Balance drawdown
October (principle)
0
0
0
0
###
55556
Year
0
1
###
###
0 (666,667)
(600,000) (581,580)
0 (120,000)
7,496,667
666667
###
0
(50,959)
###
0
(46,027)
###
0
(50,959)
###
0
(49,315)
###
0
(50,959)
###
0
(49,315)
###
0
(50,959)
###
0
(50,959)
###
0
(49,315)
###
0
###
(55,556)
(50,959)
###
(55,556)
(45,772)
###
(55,556)
(50,393)
###
(55,556)
(48,493)
###
(55,556)
(49,826)
###
(55,556)
(47,945)
###
(55,556)
(49,260)
###
(55,556)
(48,977)
###
(55,556)
(47,123)
###
(55,556)
2
9,333,333
(666,667)
(541,580)
0
9,333,333
(55,556)
(47,562)
9,277,778
(55,556)
(42,703)
9,222,222
(55,556)
(46,995)
9,166,667
(55,556)
(45,205)
9,111,111
(55,556)
(46,429)
9,055,556
(55,556)
(44,658)
9,000,000
(55,556)
(45,863)
8,944,444
(55,556)
(45,580)
8,888,889
(55,556)
(43,836)
8,833,333
(55,556)
October (interest)
Balance drawdown
November (interest)
Balance drawdown
December (interest)
Balance drawdown
(50,959)
###
0
(49,315)
###
0
(50,959)
###
(48,411)
###
(55,556)
(46,575)
###
(55,556)
(47,845)
###
(45,014)
8,777,778
(55,556)
(43,288)
8,722,222
(55,556)
(44,447)
8,666,667
y2
y3
y4
y5
y6
y7
y8
2017
2018
2019
2020
2021
2022
2023
3
4
5
6
7
8
9
###
###
###
###
###
###
###
(520,000) (520,000) (520,000) (520,000) (520,000) (520,000) (520,000)
(435,432) (404,232) (373,032) (341,832) (310,632) (279,432) (248,232)
0
0
0
0
0
0
0
###
(43,333)
(38,202)
###
(43,333)
(34,306)
###
(43,333)
(37,761)
###
(43,333)
(36,329)
###
(43,333)
(37,319)
###
(43,333)
(35,901)
###
(43,333)
(36,877)
###
(43,333)
(36,656)
###
(43,333)
(35,260)
###
(43,333)
(36,215)
###
(43,333)
(34,833)
###
(43,333)
(35,773)
###
(43,333)
(35,552)
###
(43,333)
(31,912)
###
(43,333)
(35,111)
###
(43,333)
(33,764)
###
(43,333)
(34,669)
###
(43,333)
(33,337)
###
(43,333)
(34,227)
###
(43,333)
(34,007)
###
(43,333)
(32,696)
###
(43,333)
(33,565)
###
(43,333)
(32,268)
###
(43,333)
(33,123)
###
(43,333)
(32,902)
###
(43,333)
(29,519)
###
(43,333)
(32,461)
###
(43,333)
(31,200)
###
(43,333)
(32,019)
###
(43,333)
(30,773)
###
(43,333)
(31,578)
###
(43,333)
(31,357)
###
(43,333)
(30,132)
###
(43,333)
(30,915)
###
(43,333)
(29,704)
###
(43,333)
(30,473)
###
(43,333)
(30,253)
###
(43,333)
(27,125)
###
(43,333)
(29,811)
###
(43,333)
(28,636)
###
(43,333)
(29,369)
###
(43,333)
(28,208)
###
(43,333)
(28,928)
###
(43,333)
(28,707)
###
(43,333)
(27,567)
###
(43,333)
(28,265)
###
(43,333)
(27,140)
###
(43,333)
(27,824)
###
(43,333)
(27,603)
###
(43,333)
(24,732)
###
(43,333)
(27,161)
###
(43,333)
(26,071)
###
(43,333)
(26,719)
###
(43,333)
(25,644)
###
(43,333)
(26,278)
###
(43,333)
(26,057)
###
(43,333)
(25,003)
###
(43,333)
(25,615)
###
(43,333)
(24,575)
###
(43,333)
(25,174)
###
(43,333)
(24,953)
###
(43,333)
(22,339)
###
(43,333)
(24,511)
###
(43,333)
(23,507)
###
(43,333)
(24,070)
###
(43,333)
(23,079)
###
(43,333)
(23,628)
###
(43,333)
(23,407)
###
(43,333)
(22,438)
###
(43,333)
(22,965)
###
(43,333)
(22,011)
###
(43,333)
(22,524)
###
(43,333)
(22,303)
###
(43,333)
(19,945)
###
(43,333)
(21,861)
###
(43,333)
(20,942)
###
(43,333)
(21,420)
###
(43,333)
(20,515)
###
(43,333)
(20,978)
###
(43,333)
(20,757)
###
(43,333)
(19,874)
###
(43,333)
(20,316)
###
(43,333)
(19,447)
###
(43,333)
(19,874)
###
###
###
###
###
###
###
3
4
5
6
7
8
9
###
###
###
###
###
###
###
(666,667) (666,667) (666,667) (666,667) (666,667) (666,667) (666,667)
(501,580) (461,580) (421,580) (381,580) (341,580) (301,580) (261,580)
0
0
0
0
0
0
0
###
(55,556)
(44,164)
###
(55,556)
(39,635)
###
(55,556)
(43,598)
###
(55,556)
(41,918)
###
(55,556)
(43,032)
###
(55,556)
(41,370)
###
(55,556)
(42,466)
###
(55,556)
(42,183)
###
(55,556)
(40,548)
###
(55,556)
###
(55,556)
(40,767)
###
(55,556)
(36,566)
###
(55,556)
(40,201)
###
(55,556)
(38,630)
###
(55,556)
(39,635)
###
(55,556)
(38,082)
###
(55,556)
(39,068)
###
(55,556)
(38,785)
###
(55,556)
(37,260)
###
(55,556)
###
(55,556)
(37,370)
###
(55,556)
(33,498)
###
(55,556)
(36,804)
###
(55,556)
(35,342)
###
(55,556)
(36,237)
###
(55,556)
(34,795)
###
(55,556)
(35,671)
###
(55,556)
(35,388)
###
(55,556)
(33,973)
###
(55,556)
###
(55,556)
(33,973)
###
(55,556)
(30,429)
###
(55,556)
(33,406)
###
(55,556)
(32,055)
###
(55,556)
(32,840)
###
(55,556)
(31,507)
###
(55,556)
(32,274)
###
(55,556)
(31,991)
###
(55,556)
(30,685)
###
(55,556)
###
(55,556)
(30,575)
###
(55,556)
(27,361)
###
(55,556)
(30,009)
###
(55,556)
(28,767)
###
(55,556)
(29,443)
###
(55,556)
(28,219)
###
(55,556)
(28,877)
###
(55,556)
(28,594)
###
(55,556)
(27,397)
###
(55,556)
###
(55,556)
(27,178)
###
(55,556)
(24,292)
###
(55,556)
(26,612)
###
(55,556)
(25,479)
###
(55,556)
(26,046)
###
(55,556)
(24,932)
###
(55,556)
(25,479)
###
(55,556)
(25,196)
###
(55,556)
(24,110)
###
(55,556)
###
(55,556)
(23,781)
###
(55,556)
(21,224)
###
(55,556)
(23,215)
###
(55,556)
(22,192)
###
(55,556)
(22,648)
###
(55,556)
(21,644)
###
(55,556)
(22,082)
###
(55,556)
(21,799)
###
(55,556)
(20,822)
###
(55,556)
(41,616)
###
(55,556)
(40,000)
###
(55,556)
(41,050)
###
(38,219)
###
(55,556)
(36,712)
###
(55,556)
(37,653)
###
(34,822)
###
(55,556)
(33,425)
###
(55,556)
(34,256)
###
(31,425)
###
(55,556)
(30,137)
###
(55,556)
(30,858)
###
(28,027)
###
(55,556)
(26,849)
###
(55,556)
(27,461)
###
(24,630)
###
(55,556)
(23,562)
###
(55,556)
(24,064)
###
(21,233)
###
(55,556)
(20,274)
###
(55,556)
(20,667)
###
y9
y10
y11
y12
y13
y14
y15
2024
2025
2026
2027
2028
2029
2030
10
11
12
13
14
15
16
###
###
###
###
###
### 736,667
(520,000) (520,000) (520,000) (520,000) (520,000)
###
###
(217,032) (185,832) (154,632) (123,432) (92,232) (61,032) (29,832)
0
0
0
0
0
0
0
###
(43,333)
(19,653)
###
(43,333)
(17,552)
###
(43,333)
(19,212)
###
(43,333)
(18,378)
###
(43,333)
(18,770)
###
(43,333)
(17,951)
###
(43,333)
(18,328)
###
(43,333)
(18,107)
###
(43,333)
(17,310)
###
(43,333)
(17,666)
###
(43,333)
(16,882)
###
(43,333)
(17,224)
###
(43,333)
(17,003)
###
(43,333)
(15,158)
###
(43,333)
(16,562)
###
(43,333)
(15,814)
###
(43,333)
(16,120)
###
(43,333)
(15,386)
###
(43,333)
(15,678)
###
(43,333)
(15,458)
###
(43,333)
(14,745)
###
(43,333)
(15,016)
###
(43,333)
(14,318)
###
(43,333)
(14,574)
###
(43,333)
(14,353)
###
(43,333)
(12,765)
###
(43,333)
(13,912)
###
(43,333)
(13,249)
###
(43,333)
(13,470)
###
(43,333)
(12,822)
###
(43,333)
(13,028)
###
(43,333)
(12,808)
###
(43,333)
(12,181)
###
(43,333)
(12,366)
###
(43,333)
(11,753)
###
(43,333)
(11,924)
###
(43,333)
(11,704)
###
(43,333)
(10,372)
###
(43,333)
(11,262)
###
(43,333)
(10,685)
###
(43,333)
(10,820)
###
(43,333)
(10,258)
###
(43,333)
(10,379)
###
(43,333)
(10,158)
###
(43,333)
(9,616)
###
(43,333)
(9,716)
###
(43,333)
(9,189)
###
(43,333)
(9,275)
###
(43,333)
(9,054)
###
(43,333)
(7,978)
###
(43,333)
(8,612)
###
(43,333)
(8,121)
###
(43,333)
(8,170)
###
(43,333)
(7,693)
###
(43,333)
(7,729)
###
(43,333)
(7,508)
###
(43,333)
(7,052)
###
(43,333)
(7,066)
###
(43,333)
(6,625)
###
(43,333)
(6,625)
###
(43,333)
(6,404)
###
(43,333)
(5,585)
###
(43,333)
(5,962)
###
(43,333)
(5,556)
###
(43,333)
(5,521)
###
(43,333)
(5,129)
996,667
(43,333)
(5,079)
953,333
(43,333)
(4,858)
910,000
(43,333)
(4,488)
866,667
(43,333)
(4,416)
823,333
(43,333)
(4,060)
780,000
(43,333)
(3,975)
736,667
(43,333)
(3,754)
693,333
(43,333)
(3,191)
650,000
(43,333)
(3,312)
606,667
(43,333)
(2,992)
563,333
(43,333)
(2,871)
520,000
(43,333)
(2,564)
476,667
(43,333)
(2,429)
433,333
(43,333)
(2,208)
390,000
(43,333)
(1,923)
346,667
(43,333)
(1,767)
303,333
(43,333)
(1,496)
260,000
(43,333)
(1,325)
###
###
###
###
### 736,667 216,667
10
11
12
13
14
15
###
###
###
###
### 666,667
(666,667) (666,667) (666,667) (666,667) (666,667)
###
(221,580) (181,580) (141,580) (101,580) (61,580) (21,580)
0
0
0
0
0
0
###
(55,556)
(20,384)
###
(55,556)
(18,155)
###
(55,556)
(19,817)
###
(55,556)
(18,904)
###
(55,556)
(19,251)
###
(55,556)
(18,356)
###
(55,556)
(18,685)
###
(55,556)
(18,402)
###
(55,556)
(17,534)
###
(55,556)
###
(55,556)
(16,986)
###
(55,556)
(15,087)
###
(55,556)
(16,420)
###
(55,556)
(15,616)
###
(55,556)
(15,854)
###
(55,556)
(15,068)
###
(55,556)
(15,288)
###
(55,556)
(15,005)
###
(55,556)
(14,247)
###
(55,556)
###
(55,556)
(13,589)
###
(55,556)
(12,018)
###
(55,556)
(13,023)
###
(55,556)
(12,329)
###
(55,556)
(12,457)
###
(55,556)
(11,781)
###
(55,556)
(11,890)
###
(55,556)
(11,607)
###
(55,556)
(10,959)
###
(55,556)
###
(55,556)
(10,192)
###
(55,556)
(8,950)
###
(55,556)
(9,626)
###
(55,556)
(9,041)
###
(55,556)
(9,059)
###
(55,556)
(8,493)
###
(55,556)
(8,493)
###
(55,556)
(8,210)
###
(55,556)
(7,671)
###
(55,556)
###
(55,556)
(6,795)
###
(55,556)
(5,881)
###
(55,556)
(6,228)
###
(55,556)
(5,753)
###
(55,556)
(5,662)
###
(55,556)
(5,205)
###
(55,556)
(5,096)
944,444
(55,556)
(4,813)
888,889
(55,556)
(4,384)
833,333
(55,556)
666,667
(55,556)
(3,397)
611,111
(55,556)
(2,813)
555,556
(55,556)
(2,831)
500,000
(55,556)
(2,466)
444,444
(55,556)
(2,265)
388,889
(55,556)
(1,918)
333,333
(55,556)
(1,699)
277,778
(55,556)
(1,416)
222,222
(55,556)
(1,096)
166,667
(55,556)
16
0
0
0
0
(17,836)
###
(55,556)
(16,986)
###
(55,556)
(17,269)
###
(14,438)
###
(55,556)
(13,699)
###
(55,556)
(13,872)
###
(11,041)
###
(55,556)
(10,411)
###
(55,556)
(10,475)
###
(7,644)
###
(55,556)
(7,123)
###
(55,556)
(7,078)
###
(4,247)
(849)
777,778 111,111
(55,556) (55,556)
(3,836)
(548)
722,222
55,556
(55,556) (55,556)
(3,680)
(283)
666,667
(0)
y16
2031
17
216,667
###
(3,213)
0
216,667
(43,333)
(1,104)
173,333
(43,333)
(798)
130,000
(43,333)
(662)
86,667
(43,333)
(427)
43,333
(43,333)
(221)
0
0
(0)
2032
18
0
0
0
0
2033
19
0
0
0
0
2034
20
0
0
0
0
2035
21
0
0
0
0
17
0
0
0
0
18
0
0
0
0
19
0
0
0
0
20
0
0
0
0
21
0
0
0
0
Interest
Total loan
Case 2
6%
8,525,110
Pre-Ops
Loan drawdown
Total repayment
Interest
Shareholders loan
Balance drawdown
January (principle)
January (Interest)
Balance drawdown
February (Interest)
Balance drawdown
March (principle)
March (Interest)
Balance drawdown
April (principle)
April (Interest)
Balance drawdown
May (principle)
May (Interest)
Balance drawdown
June (principle)
June (Interest)
Balance drawdown
July (principle)
July (Interest)
Balance drawdown
August (principle)
August (Interest)
Balance drawdown
Balance drawdown
October (principle)
October (interest)
Balance drawdown
November (interest)
0
0
0
0
31
28
31
30
31
30
31
31
30
31
30
Monthly
###
Year
y1
y2
2014
2015
2016
2017
0
1
2
3
0
0
8,525,110
###
0
0
(331,532) (568,341)
0
0
(294,891) (475,911)
0 120,000
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
###
0
0
###
0
0
###
0
0
###
0
0
###
0
0
###
0
0
###
0
0
###
0
0
###
0
0
8,525,110
0
0
8,525,110
0
0
8,525,110
0
0
8,525,110
0
0
8,525,110
0
0
8,525,110
(47,362)
(42,042)
8,477,748
(47,362)
(43,202)
8,430,387
(47,362)
(42,960)
8,383,025
(47,362)
(41,341)
8,335,663
(47,362)
(42,478)
8,288,301
(47,362)
(40,874)
###
(47,362)
(41,754)
###
(47,362)
(37,495)
###
(47,362)
(41,271)
###
(47,362)
(39,706)
###
(47,362)
(40,788)
###
(47,362)
(39,239)
###
(47,362)
(40,305)
###
(47,362)
(40,064)
###
(47,362)
(38,538)
###
(47,362)
(39,581)
###
(47,362)
(38,071)
Balance drawdown
December (interest)
Balance drawdown
Interest
Total loan
Case 3
31
6%
10,000,000
Pre-Ops
Loan drawdown
Total repayment
Interest
Shareholders loan
Balance drawdown
January (principle)
January (Interest)
Balance drawdown
February (Interest)
Balance drawdown
March (principle)
March (Interest)
Balance drawdown
April (principle)
April (Interest)
Balance drawdown
May (principle)
May (Interest)
Balance drawdown
June (principle)
June (Interest)
Balance drawdown
July (principle)
July (Interest)
Balance drawdown
August (principle)
0
0
0
0
0
0
0
0
###
0
0
###
55556
Year
0
1
###
###
0 (666,667)
(600,000) (581,580)
0 (120,000)
8,240,940
(47,362)
(41,995)
8,193,578
###
(47,362)
(39,099)
###
666667
###
0
(50,959)
###
0
(46,027)
###
0
(50,959)
###
0
(49,315)
###
0
(50,959)
###
0
(49,315)
###
0
(50,959)
###
0
###
(55,556)
(50,959)
###
(55,556)
(45,772)
###
(55,556)
(50,393)
###
(55,556)
(48,493)
###
(55,556)
(49,826)
###
(55,556)
(47,945)
###
(55,556)
(49,260)
###
(55,556)
2
3
9,333,333
###
(666,667) (666,667)
(541,580) (501,580)
0
0
9,333,333
(55,556)
(47,562)
9,277,778
(55,556)
(42,703)
9,222,222
(55,556)
(46,995)
9,166,667
(55,556)
(45,205)
9,111,111
(55,556)
(46,429)
9,055,556
(55,556)
(44,658)
9,000,000
(55,556)
(45,863)
8,944,444
(55,556)
###
(55,556)
(44,164)
###
(55,556)
(39,635)
###
(55,556)
(43,598)
###
(55,556)
(41,918)
###
(55,556)
(43,032)
###
(55,556)
(41,370)
###
(55,556)
(42,466)
###
(55,556)
August (Interest)
Balance drawdown
Balance drawdown
October (principle)
October (interest)
Balance drawdown
November (interest)
Balance drawdown
December (interest)
Balance drawdown
(50,959)
###
0
(49,315)
###
0
(50,959)
###
0
(49,315)
###
0
(50,959)
###
(48,977)
###
(55,556)
(47,123)
###
(55,556)
(48,411)
###
(55,556)
(46,575)
###
(55,556)
(47,845)
###
(45,580)
8,888,889
(55,556)
(43,836)
8,833,333
(55,556)
(45,014)
8,777,778
(55,556)
(43,288)
8,722,222
(55,556)
(44,447)
8,666,667
(42,183)
###
(55,556)
(40,548)
###
(55,556)
(41,616)
###
(55,556)
(40,000)
###
(55,556)
(41,050)
###
y3
y4
y5
y6
y7
y8
y9
2018
2019
2020
2021
2022
2023
2024
4
5
6
7
8
9
10
###
###
###
###
###
###
###
(568,341) (568,341) (568,341) (568,341) (568,341) (568,341) (568,341)
(441,811) (407,710) (373,610) (339,510) (305,409) (271,309) (237,208)
0
0
0
0
0
0
0
###
(47,362)
(38,857)
###
(47,362)
(34,879)
###
(47,362)
(38,375)
###
(47,362)
(36,903)
###
(47,362)
(37,892)
###
(47,362)
(36,436)
###
(47,362)
(37,409)
###
(47,362)
(37,168)
###
(47,362)
(35,735)
###
(47,362)
(36,685)
###
(47,362)
(35,268)
###
(47,362)
(35,961)
###
(47,362)
(32,263)
###
(47,362)
(35,478)
###
(47,362)
(34,100)
###
(47,362)
(34,996)
###
(47,362)
(33,633)
###
(47,362)
(34,513)
###
(47,362)
(34,272)
###
(47,362)
(32,933)
###
(47,362)
(33,789)
###
(47,362)
(32,465)
###
(47,362)
(33,065)
###
(47,362)
(29,647)
###
(47,362)
(32,582)
###
(47,362)
(31,298)
###
(47,362)
(32,100)
###
(47,362)
(30,831)
###
(47,362)
(31,617)
###
(47,362)
(31,376)
###
(47,362)
(30,130)
###
(47,362)
(30,893)
###
(47,362)
(29,663)
###
(47,362)
(30,169)
###
(47,362)
(27,031)
###
(47,362)
(29,686)
###
(47,362)
(28,495)
###
(47,362)
(29,203)
###
(47,362)
(28,028)
###
(47,362)
(28,721)
###
(47,362)
(28,479)
###
(47,362)
(27,327)
###
(47,362)
(27,997)
###
(47,362)
(26,860)
###
(47,362)
(27,273)
###
(47,362)
(24,415)
###
(47,362)
(26,790)
###
(47,362)
(25,692)
###
(47,362)
(26,307)
###
(47,362)
(25,225)
###
(47,362)
(25,824)
###
(47,362)
(25,583)
###
(47,362)
(24,524)
###
(47,362)
(25,100)
###
(47,362)
(24,057)
###
(47,362)
(24,376)
###
(47,362)
(21,799)
###
(47,362)
(23,894)
###
(47,362)
(22,889)
###
(47,362)
(23,411)
###
(47,362)
(22,422)
###
(47,362)
(22,928)
###
(47,362)
(22,687)
###
(47,362)
(21,722)
###
(47,362)
(22,204)
###
(47,362)
(21,254)
###
(47,362)
(21,480)
###
(47,362)
(19,183)
###
(47,362)
(20,997)
###
(47,362)
(20,087)
###
(47,362)
(20,515)
###
(47,362)
(19,619)
###
(47,362)
(20,032)
###
(47,362)
(19,791)
###
(47,362)
(18,919)
###
(47,362)
(19,308)
###
(47,362)
(18,452)
###
(47,362)
(36,203)
###
###
(47,362)
(33,306)
###
###
(47,362)
(30,410)
###
###
(47,362)
(27,514)
###
###
(47,362)
(24,618)
###
###
(47,362)
(21,722)
###
###
(47,362)
(18,825)
###
4
5
6
7
8
9
10
###
###
###
###
###
###
###
(666,667) (666,667) (666,667) (666,667) (666,667) (666,667) (666,667)
(461,580) (421,580) (381,580) (341,580) (301,580) (261,580) (221,580)
0
0
0
0
0
0
0
###
(55,556)
(40,767)
###
(55,556)
(36,566)
###
(55,556)
(40,201)
###
(55,556)
(38,630)
###
(55,556)
(39,635)
###
(55,556)
(38,082)
###
(55,556)
(39,068)
###
(55,556)
###
(55,556)
(37,370)
###
(55,556)
(33,498)
###
(55,556)
(36,804)
###
(55,556)
(35,342)
###
(55,556)
(36,237)
###
(55,556)
(34,795)
###
(55,556)
(35,671)
###
(55,556)
###
(55,556)
(33,973)
###
(55,556)
(30,429)
###
(55,556)
(33,406)
###
(55,556)
(32,055)
###
(55,556)
(32,840)
###
(55,556)
(31,507)
###
(55,556)
(32,274)
###
(55,556)
###
(55,556)
(30,575)
###
(55,556)
(27,361)
###
(55,556)
(30,009)
###
(55,556)
(28,767)
###
(55,556)
(29,443)
###
(55,556)
(28,219)
###
(55,556)
(28,877)
###
(55,556)
###
(55,556)
(27,178)
###
(55,556)
(24,292)
###
(55,556)
(26,612)
###
(55,556)
(25,479)
###
(55,556)
(26,046)
###
(55,556)
(24,932)
###
(55,556)
(25,479)
###
(55,556)
###
(55,556)
(23,781)
###
(55,556)
(21,224)
###
(55,556)
(23,215)
###
(55,556)
(22,192)
###
(55,556)
(22,648)
###
(55,556)
(21,644)
###
(55,556)
(22,082)
###
(55,556)
###
(55,556)
(20,384)
###
(55,556)
(18,155)
###
(55,556)
(19,817)
###
(55,556)
(18,904)
###
(55,556)
(19,251)
###
(55,556)
(18,356)
###
(55,556)
(18,685)
###
(55,556)
(38,785)
###
(55,556)
(37,260)
###
(55,556)
(38,219)
###
(55,556)
(36,712)
###
(55,556)
(37,653)
###
(35,388)
###
(55,556)
(33,973)
###
(55,556)
(34,822)
###
(55,556)
(33,425)
###
(55,556)
(34,256)
###
(31,991)
###
(55,556)
(30,685)
###
(55,556)
(31,425)
###
(55,556)
(30,137)
###
(55,556)
(30,858)
###
(28,594)
###
(55,556)
(27,397)
###
(55,556)
(28,027)
###
(55,556)
(26,849)
###
(55,556)
(27,461)
###
(25,196)
###
(55,556)
(24,110)
###
(55,556)
(24,630)
###
(55,556)
(23,562)
###
(55,556)
(24,064)
###
(21,799)
###
(55,556)
(20,822)
###
(55,556)
(21,233)
###
(55,556)
(20,274)
###
(55,556)
(20,667)
###
(18,402)
###
(55,556)
(17,534)
###
(55,556)
(17,836)
###
(55,556)
(16,986)
###
(55,556)
(17,269)
###
y10
y11
y12
y13
y14
y15
y16
2025
2026
2027
2028
2029
2030
2031
11
12
13
14
15
16
17
###
###
###
###
### 805,149 236,809
(568,341) (568,341) (568,341) (568,341)
###
###
###
(203,108) (169,007) (134,907) (100,807) (66,706) (32,606) (3,511)
0
0
0
0
0
0
0
###
(47,362)
(18,584)
###
(47,362)
(16,568)
###
(47,362)
(18,101)
###
(47,362)
(17,284)
###
(47,362)
(17,619)
###
(47,362)
(16,817)
###
(47,362)
(17,136)
###
(47,362)
(16,895)
###
(47,362)
(16,116)
###
(47,362)
(16,412)
###
(47,362)
(15,649)
###
(47,362)
(15,688)
###
(47,362)
(13,952)
###
(47,362)
(15,205)
###
(47,362)
(14,481)
###
(47,362)
(14,722)
###
(47,362)
(14,014)
###
(47,362)
(14,240)
###
(47,362)
(13,998)
###
(47,362)
(13,313)
###
(47,362)
(13,516)
###
(47,362)
(12,846)
###
(47,362)
(12,792)
###
(47,362)
(11,336)
###
(47,362)
(12,309)
###
(47,362)
(11,678)
###
(47,362)
(11,826)
###
(47,362)
(11,211)
###
(47,362)
(11,343)
###
(47,362)
(11,102)
###
(47,362)
(10,510)
###
(47,362)
(10,619)
###
(47,362)
(10,043)
###
(47,362)
(9,895)
###
(47,362)
(8,720)
###
(47,362)
(9,413)
###
(47,362)
(8,875)
###
(47,362)
(8,930)
###
(47,362)
(8,408)
###
(47,362)
(8,447)
###
(47,362)
(8,206)
###
(47,362)
(7,708)
###
(47,362)
(7,723)
###
(47,362)
(7,241)
###
(47,362)
(6,999)
###
(47,362)
(6,104)
###
(47,362)
(6,516)
###
(47,362)
(6,073)
###
(47,362)
(6,034)
###
(47,362)
(5,606)
###
(47,362)
(5,551)
###
(47,362)
(5,310)
994,596
(47,362)
(4,905)
947,234
(47,362)
(4,827)
899,873
(47,362)
(4,438)
805,149
(47,362)
(4,103)
757,788
(47,362)
(3,488)
710,426
(47,362)
(3,620)
663,064
(47,362)
(3,270)
615,702
(47,362)
(3,138)
568,341
(47,362)
(2,803)
520,979
(47,362)
(2,655)
473,617
(47,362)
(2,414)
426,256
(47,362)
(2,102)
378,894
(47,362)
(1,931)
331,532
(47,362)
(1,635)
236,809
(47,362)
(1,207)
189,447
(47,362)
(872)
142,085
(47,362)
(724)
94,723
(47,362)
(467)
47,362
(47,362)
(241)
0
0
(0)
2032
18
0
0
0
0
###
(47,362)
(15,929)
###
###
(47,362)
(13,033)
###
###
(47,362)
(10,137)
###
### 852,511 284,170

(47,362) (47,362) (47,362)
(7,241) (4,344) (1,448)
### 805,149 236,809
11
12
13
14
15
###
###
###
### 666,667
(666,667) (666,667) (666,667) (666,667)
###
(181,580) (141,580) (101,580) (61,580) (21,580)
0
0
0
0
0
###
(55,556)
(16,986)
###
(55,556)
(15,087)
###
(55,556)
(16,420)
###
(55,556)
(15,616)
###
(55,556)
(15,854)
###
(55,556)
(15,068)
###
(55,556)
(15,288)
###
(55,556)
###
(55,556)
(13,589)
###
(55,556)
(12,018)
###
(55,556)
(13,023)
###
(55,556)
(12,329)
###
(55,556)
(12,457)
###
(55,556)
(11,781)
###
(55,556)
(11,890)
###
(55,556)
###
###
(55,556) (55,556)
(10,192)
(6,795)
###
###
(55,556) (55,556)
(8,950)
(5,881)
###
###
(55,556) (55,556)
(9,626)
(6,228)
###
###
(55,556) (55,556)
(9,041)
(5,753)
###
###
(55,556) (55,556)
(9,059)
(5,662)
###
###
(55,556) (55,556)
(8,493)
(5,205)
###
###
(55,556) (55,556)
(8,493)
(5,096)
### 944,444
(55,556) (55,556)
666,667
(55,556)
(3,397)
611,111
(55,556)
(2,813)
555,556
(55,556)
(2,831)
500,000
(55,556)
(2,466)
444,444
(55,556)
(2,265)
388,889
(55,556)
(1,918)
333,333
(55,556)
(1,699)
277,778
(55,556)
16
0
0
0
0
17
0
0
0
0
18
0
0
0
0
(15,005)
###
(55,556)
(14,247)
###
(55,556)
(14,438)
###
(55,556)
(13,699)
###
(55,556)
(13,872)
###
(11,607)
###
(55,556)
(10,959)
###
(55,556)
(11,041)
###
(55,556)
(10,411)
###
(55,556)
(10,475)
###
(8,210)
###
(55,556)
(7,671)
###
(55,556)
(7,644)
###
(55,556)
(7,123)
###
(55,556)
(7,078)
###
(4,813)
888,889
(55,556)
(4,384)
833,333
(55,556)
(4,247)
777,778
(55,556)
(3,836)
722,222
(55,556)
(3,680)
666,667
(1,416)
222,222
(55,556)
(1,096)
166,667
(55,556)
(849)
111,111
(55,556)
(548)
55,556
(55,556)
(283)
(0)
2033
19
0
0
0
0
2034
20
0
0
0
0
2035
21
0
0
0
0
19
0
0
0
0
20
0
0
0
0
21
0
0
0
0
Interest
Total loan
Case 1 & 2
6%
9,666,550
Pre-Ops
Loan drawdown
Total repayment
Interest
Shareholders loan
Balance drawdown
January (principle)
January (Interest)
Balance drawdown
February (Interest)
Balance drawdown
March (principle)
March (Interest)
Balance drawdown
April (principle)
April (Interest)
Balance drawdown
May (principle)
May (Interest)
Balance drawdown
June (principle)
June (Interest)
Balance drawdown
July (principle)
July (Interest)
Balance drawdown
August (principle)
August (Interest)
Balance drawdown
Balance drawdown
October (principle)
October (interest)
Balance drawdown
November (interest)
0
0
0
0
31
28
31
30
31
30
31
31
30
31
30
Monthly
###
Year
y1
y2
2014
2015
2016
2017
0
1
2
3
0
0
9,666,550
###
0
0
(375,921) (644,437)
0
0
(334,374) (539,632)
0 120,000
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
###
0
0
###
0
0
###
0
0
###
0
0
###
0
0
###
0
0
###
0
0
###
0
0
###
0
0
9,666,550
0
0
9,666,550
0
0
9,666,550
0
0
9,666,550
0
0
9,666,550
0
0
9,666,550
(53,703)
(47,671)
9,612,847
(53,703)
(48,986)
9,559,144
(53,703)
(48,712)
9,505,441
(53,703)
(46,876)
9,451,738
(53,703)
(48,165)
9,398,035
(53,703)
(46,346)
###
(53,703)
(47,344)
###
(53,703)
(42,515)
###
(53,703)
(46,797)
###
(53,703)
(45,022)
###
(53,703)
(46,249)
###
(53,703)
(44,493)
###
(53,703)
(45,702)
###
(53,703)
(45,428)
###
(53,703)
(43,698)
###
(53,703)
(44,881)
###
(53,703)
(43,168)
Balance drawdown
December (interest)
Balance drawdown
31
0
0
0
0
###
0
0
###
9,344,332
(53,703)
(47,618)
9,290,629
###
(53,703)
(44,334)
###
y3
y4
y5
y6
y7
y8
y9
2018
2019
2020
2021
2022
2023
2024
4
5
6
7
8
9
10
###
###
###
###
###
###
###
(644,437) (644,437) (644,437) (644,437) (644,437) (644,437) (644,437)
(500,966) (462,299) (423,633) (384,967) (346,301) (307,635) (268,968)
0
0
0
0
0
0
0
###
(53,703)
(44,060)
###
(53,703)
(39,549)
###
(53,703)
(43,513)
###
(53,703)
(41,844)
###
(53,703)
(42,965)
###
(53,703)
(41,315)
###
(53,703)
(42,418)
###
(53,703)
(42,144)
###
(53,703)
(40,520)
###
(53,703)
(41,597)
###
(53,703)
(39,990)
###
(53,703)
(40,776)
###
(53,703)
(36,583)
###
(53,703)
(40,229)
###
(53,703)
(38,666)
###
(53,703)
(39,681)
###
(53,703)
(38,137)
###
(53,703)
(39,134)
###
(53,703)
(38,860)
###
(53,703)
(37,342)
###
(53,703)
(38,313)
###
(53,703)
(36,812)
###
(53,703)
(37,492)
###
(53,703)
(33,617)
###
(53,703)
(36,945)
###
(53,703)
(35,488)
###
(53,703)
(36,397)
###
(53,703)
(34,958)
###
(53,703)
(35,850)
###
(53,703)
(35,576)
###
(53,703)
(34,164)
###
(53,703)
(35,029)
###
(53,703)
(33,634)
###
(53,703)
(34,208)
###
(53,703)
(30,650)
###
(53,703)
(33,661)
###
(53,703)
(32,310)
###
(53,703)
(33,113)
###
(53,703)
(31,780)
###
(53,703)
(32,566)
###
(53,703)
(32,292)
###
(53,703)
(30,986)
###
(53,703)
(31,745)
###
(53,703)
(30,456)
###
(53,703)
(30,924)
###
(53,703)
(27,684)
###
(53,703)
(30,377)
###
(53,703)
(29,132)
###
(53,703)
(29,829)
###
(53,703)
(28,602)
###
(53,703)
(29,282)
###
(53,703)
(29,008)
###
(53,703)
(27,808)
###
(53,703)
(28,461)
###
(53,703)
(27,278)
###
(53,703)
(27,640)
###
(53,703)
(24,718)
###
(53,703)
(27,093)
###
(53,703)
(25,954)
###
(53,703)
(26,545)
###
(53,703)
(25,424)
###
(53,703)
(25,998)
###
(53,703)
(25,724)
###
(53,703)
(24,630)
###
(53,703)
(25,177)
###
(53,703)
(24,100)
###
(53,703)
(24,356)
###
(53,703)
(21,752)
###
(53,703)
(23,809)
###
(53,703)
(22,776)
###
(53,703)
(23,262)
###
(53,703)
(22,246)
###
(53,703)
(22,714)
###
(53,703)
(22,441)
###
(53,703)
(21,452)
###
(53,703)
(21,893)
###
(53,703)
(20,922)
###
(53,703)
(41,050)
###
###
(53,703)
(37,766)
###
###
(53,703)
(34,482)
###
###
(53,703)
(31,198)
###
###
(53,703)
(27,914)
###
###
(53,703)
(24,630)
###
###
(53,703)
(21,346)
###
y10
y11
y12
y13
y14
y15
y16
2025
2026
2027
2028
2029
2030
2031
11
12
13
14
15
16
17
###
###
###
###
### 912,952 268,515
(644,437) (644,437) (644,437) (644,437)
###
###
###
(230,302) (191,636) (152,970) (114,304) (75,637) (36,971) (3,981)
0
0
0
0
0
0
0
###
(53,703)
(21,072)
###
(53,703)
(18,786)
###
(53,703)
(20,525)
###
(53,703)
(19,598)
###
(53,703)
(19,978)
###
(53,703)
(19,068)
###
(53,703)
(19,430)
###
(53,703)
(19,157)
###
(53,703)
(18,274)
###
(53,703)
(18,609)
###
(53,703)
(17,744)
###
(53,703)
(17,788)
###
(53,703)
(15,820)
###
(53,703)
(17,241)
###
(53,703)
(16,420)
###
(53,703)
(16,694)
###
(53,703)
(15,890)
###
(53,703)
(16,146)
###
(53,703)
(15,873)
###
(53,703)
(15,096)
###
(53,703)
(15,325)
###
(53,703)
(14,566)
###
(53,703)
(14,504)
###
(53,703)
(12,853)
###
(53,703)
(13,957)
###
(53,703)
(13,242)
###
(53,703)
(13,410)
###
(53,703)
(12,712)
###
(53,703)
(12,862)
###
(53,703)
(12,589)
###
(53,703)
(11,918)
###
(53,703)
(12,041)
###
(53,703)
(11,388)
###
(53,703)
(11,220)
###
(53,703)
(9,887)
###
(53,703)
(10,673)
###
(53,703)
(10,064)
###
(53,703)
(10,126)
###
(53,703)
(9,534)
###
(53,703)
(9,578)
###
(53,703)
(9,305)
###
(53,703)
(8,740)
###
(53,703)
(8,757)
###
(53,703)
(8,210)
###
(53,703)
(7,936)
###
(53,703)
(6,921)
###
(53,703)
(7,389)
###
(53,703)
(6,886)
###
(53,703)
(6,842)
###
(53,703)
(6,356)
###
(53,703)
(6,294)
###
(53,703)
(6,021)
###
(53,703)
(5,562)
###
(53,703)
(5,473)
###
(53,703)
(5,032)
912,952
(53,703)
(4,652)
859,249
(53,703)
(3,955)
805,546
(53,703)
(4,105)
751,843
(53,703)
(3,708)
698,140
(53,703)
(3,558)
644,437
(53,703)
(3,178)
590,734
(53,703)
(3,010)
537,031
(53,703)
(2,737)
483,327
(53,703)
(2,384)
429,624
(53,703)
(2,189)
375,921
(53,703)
(1,854)
268,515
(53,703)
(1,368)
214,812
(53,703)
(989)
161,109
(53,703)
(821)
107,406
(53,703)
(530)
53,703
(53,703)
(274)
(0)
0
0
2032
18
0
0
0
0
###
(53,703)
(18,062)
###
###
(53,703)
(14,778)
###
###
(53,703)
(11,494)
###
### 966,655 322,218

(53,703) (53,703) (53,703)
(8,210) (4,926) (1,642)
### 912,952 268,515
2033
19
0
0
0
0
2034
20
0
0
0
0
2035
21
0
0
0
0
Revenue
OPEX
KISS Management F
CAPEX
2014
0
0
2015
1
0
-45,000
-864000 -864000
-7625473
2016
2017
2018
2
3
4
1258644 1258644 1258644
-74,400 -77,136 -79,981
-864000 -864000 -864000
0
0
0
2019
2020
2021
2022
2023
2024
2025
2026
5
6
7
8
9
10
11
12
1258644 1258644 1258644 1258644 1258644 1258644 1258644 1258644
-82,941 -86,018 -89,219 -92,548 -96,010 -99,610 -103,355 -107,249
-864000 -864000 -864000 -864000 -864000 -864000 -864000 -864000
0
0
0
0
0
0
0
0
2027
2028
2029
2030
2031
2032
2033
2034
13
14
15
16
17
18
19
20
1258644 1258644 1258644 1258644 1258644 1258644 1258644 1258644
-111,299 -115,511 -119,891 -124,447 -129,185 -134,112 -139,236 -144,566
-864000 -864000 -864000 -864000 -864000 -864000 -864000 -864000
0
0
0
0
0
0
0
0
2035
21
1258644
-150,108
-864000
0
Case 1
Year
Revenue
OPEX
Insurance
CAPEX
Operating cashflow
Net cashflow
Loan (drawdown)
Shareholders loan (drawdown)
Interest payment
Loan principle
Shareholders loan (payment)
Net Cashflow with financing
IRR (pre finance )
IRR (post finance)
NPV
Err:509
Err:509
0
0.00
(146,400)
(37625)
Err:509
Err:509
Err:509
###
0.00
0.00
Err:509
2015
2016
2017
1
2
3
0 1,258,644 1,258,644
(146,400) (152,256) (230,516)
(37,776)
(37,927)
(38,078)
0
0
0
(184,176) 1,068,461
990,050
(184176) 1068461
990050
0
0
0
(184176)
(269,809)
(303,333)
0
495319
(435,432)
(520,000)
0
34617
2018
4
1,258,644
(239,737)
(38,231)
0
980,677
980677
(404,232)
(520,000)
0
56444
2019
2020
5
6
1,258,644 1,258,644
(249,326) (259,299)
(38,384)
(38,537)
0
0
970,934
960,808
970934
960808
(373,032)
(520,000)
0
77902
(341,832)
(520,000)
0
98975
2021
7
1,258,644
(269,671)
(38,691)
0
950,282
950282
(310,632)
(520,000)
0
119649
2022
2023
8
9
1,258,644 1,258,644
(280,458) (291,676)
(38,846)
(39,001)
0
0
939,340
927,966
939340
927966
(279,432)
(520,000)
0
139908
(248,232)
(520,000)
0
159734
2024
2025
2026
2027
2028
2029
2030
10
11
12
13
14
15
16
1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644
(303,343) (315,477) (328,096) (341,220) (354,869) (369,064) (383,826)
(39,157)
(39,314)
(39,471)
(39,629)
(39,788)
(39,947)
(40,107)
0
0
0
0
0
0
0
916,143
903,853
891,077
877,795
863,988
849,634
834,711
916143
903853
891077
877795
863988
849634
834711
(217,032)
(520,000)
0
179111
(185,832)
(520,000)
0
198021
(154,632)
(520,000)
0
216444
(123,432)
(520,000)
0
234363
(92,232)
(520,000)
0
251755
(61,032)
(520,000)
0
268601
(29,832)
(520,000)
0
284879
2031
2032
2033
2034
2035
17
18
19
20
21
1,258,644 1,258,644 1,258,644 1,258,644 1,258,644
(399,179) (415,146) (431,752) (449,022) (466,983)
(40,267)
(40,428)
(40,590)
(40,752)
(40,915)
0
0
0
0
0
819,198
803,070
786,302
768,870
750,746
819198
803070
786302
768870
750746
(3,213)
(216,667)
0
599319
0
0
0
803070
0
0
0
786302
0
0
0
768870
0
0
0
750746
Case 2
Year
0
1
2
3
0.00
0 1,258,644 1,258,644
(231651) (231,651) (240,917) (250,554)
Err:509
0
0
0
Revenue
OPEX
CAPEX
Operating cashflow
Tax
Net cashflow
25%
Err:509 (231,651) 1,017,727 1,008,090

Err:509
0 (254,432) (252,023)
Err:509 (231651)
763295
756068
Loan (drawdown)
###
120000.00
Interest payment
0.00
Loan principle
Tax
25%
0
Err:509
IRR (pre finance post tax)
NPV
Err:509
Err:509
0
0
0
0
(231651)
(269,809)
(303,333)
0
67452
257605
(435,432)
(520,000)
0
108858
(90507)
4
1,258,644
(260,576)
0
5
6
1,258,644 1,258,644
(270,999) (281,839)
0
0
7
1,258,644
(293,113)
0
8
9
1,258,644 1,258,644
(304,837) (317,031)
0
0
998,068
(249,517)
748551
987,645
(246,911)
740734
976,805
(244,201)
732604
965,531
(241,383)
724149
953,807
(238,452)
715355
941,613
(235,403)
706210
(404,232)
(520,000)
0
101058
(74623)
(373,032)
(520,000)
0
93258
(59041)
(341,832)
(520,000)
0
85458
(43770)
(310,632)
(520,000)
0
77658
(28826)
(279,432)
(520,000)
0
69858
(14219)
(248,232)
(520,000)
0
62058
36
10
11
12
13
14
15
16
1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644
(329,712) (342,900) (356,616) (370,881) (385,716) (401,145) (417,191)
0
0
0
0
0
0
0
928,932
(232,233)
696699
915,744
(228,936)
686808
902,028
(225,507)
676521
887,763
(221,941)
665822
872,928
(218,232)
654696
857,499
(214,375)
643124
841,453
(210,363)
631090
(217,032)
(520,000)
0
54258
13925
(185,832)
(520,000)
0
46458
27434
(154,632)
(520,000)
0
38658
40547
(123,432)
(520,000)
0
30858
53248
(92,232)
(520,000)
0
23058
65522
(61,032)
(520,000)
0
15258
77350
(29,832)
(520,000)
0
7458
88716
17
18
19
20
21
1,258,644 1,258,644 1,258,644 1,258,644 1,258,644
(433,878) (451,233) (469,283) (488,054) (507,576)
0
0
0
0
0
824,766
(206,191)
618574
807,411
(201,853)
605558
789,361
(197,340)
592021
770,590
(192,648)
577943
751,068
(187,767)
563301
(3,213)
(216,667)
0
803
399498
0
0
0
0
605558
0
0
0
0
592021
0
0
0
0
577943
0
0
0
0
563301
Case 3
Year
0
1
2
0.00
0 1,258,644
(223901) (223,901) (232,857)
Err:509
0
0
Revenue
OPEX
CAPEX
Operating cashflow
Tax
Net cashflow
25%
Loan (drawdown)
Interest payment
Loan principle
Tax
25%
IRR (pre finance post tax)
Err:509
Err:509
Err:509 (223,901) 1,025,787

Err:509
0 (256,447)
Err:509 (223901)
769340
10,000,000
120000
(600000) (581580)
0 (666667)
0 (120000)
150000
145395
Err:509 (1446753)
(541580)
(666667)
0
135395
(303511)
3
4
1,258,644 1,258,644
(242,171) (251,858)
0
0
1,016,473 1,006,786
(254,118) (251,696)
762355
755089
(501580)
(666667)
0
125395
(280497)
(461580)
(666667)
0
115395
(257762)
5
6
1,258,644 1,258,644
(261,933) (272,410)
0
0
7
1,258,644
(283,306)
0
8
1,258,644
(294,638)
0
996,711
(249,178)
747534
986,234
(246,559)
739676
975,338
(243,834)
731503
964,006
(241,001)
723004
(421580)
(666667)
0
105395
(235318)
(381580)
(666667)
0
95395
(213176)
(341580)
(666667)
0
85395
(191348)
(301580)
(666667)
0
75395
(169847)
9
10
11
12
13
14
15
1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644
(306,424) (318,681) (331,428) (344,685) (358,473) (372,812) (387,724)
0
0
0
0
0
0
0
952,220
(238,055)
714165
939,963
(234,991)
704972
927,216
(231,804)
695412
913,959
(228,490)
685469
900,171
(225,043)
675128
885,832
(221,458)
664374
870,920
(217,730)
653190
(261580)
(666667)
0
65395
(148687)
(221580)
(666667)
0
55395
(127879)
(181580)
(666667)
0
45395
(107440)
(141580)
(666667)
0
35395
(87383)
(101580)
(666667)
0
25395
(67723)
(61580)
(666667)
0
15395
(48477)
(21580)
(666667)
0
5395
(29662)
16
17
18
19
20
21
1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644
(403,233) (419,362) (436,137) (453,582) (471,726) (490,595)
0
0
0
0
0
0
855,411
(213,853)
641558
839,282
(209,820)
629461
822,507
(205,627)
616880
805,062
(201,265)
603796
786,918
(196,730)
590189
768,049
(192,012)
576037
0
0
0
0
641558
0
0
0
0
629461
0
0
0
0
616880
0
0
0
0
603796
0
0
0
0
590189
0
0
0
0
576037
Inflow
0
(A)
OutFlow
EPC cost
PSS cost to TNB
Tender bond
Performance bond
Initial CAPEX
Vehicles
Manpower cost
facility cost
office rental
KISS Management Fee
O&M
Total Expenses
(B)
Funding required
Excess cashflow
Accumulative cashflow
-9,666,550
IRR

3 No profit sharing calculated in cash flow
4
5
6
7
7%
Koperasi KISS Be
Cash Flow For The Yer Ended 20
PRE-OPERATING C
Year 0
0
90,000
90,000
7,525,000
20,000
100,000
200,000
130,000
49,900
110,000
1,400,000
58,800
9,600
6,000
72000
75,250
2016
Year 1
2017
Year 2
2018
Year 3
1,342,548
1,329,123
1,315,697
1,342,548
1,329,123
1,315,697
0
0
0
0
0
0
0
0
0
0
0
0
0
61,152
9,984
6,240
74,880
75,250
0
0
0
0
63,598
10,383
6,490
77,875
75,250
37625
0
0
0
66,142
10,799
6,749
80,990
75,250
37625
9,756,550
227,506
271,221
277,555
-9,666,550
1,115,042
1,057,902
1,038,142
0
0
0
0
(334,810)
-236,193
544,039
544,039
(554,271)
-424,591
79,040
623,079
(528,084)
-450,779
59,280
682,359

ow For The Yer Ended 2016 - 2036 for 1MWp
2019
2020
2021
2022
Year 4
Year 5
Year 6
Year 7
1,302,272
1,288,846
1,275,421
1,261,995
1,302,272
1,288,846
1,275,421
1,261,995
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
137,500
0
71,539
11,680
7,300
87,599
75,250
37625
0
0
0
0
0
74,401
12,147
7,592
91,103
75,250
37625
0
77,377
12,633
7,896
94,747
75,250
37625
0
68,788
11,231
7,019
84,230
75,250
37625
284,142
428,493
298,118
305,527
1,018,130
860,353
977,303
956,468
(470,763)
-508,100
-118,509
603,117
(439,424)
-539,438
-1,559
601,558
(406,153)
-572,709
-22,395
579,164
(500,280)
-478,582
39,268
721,626
2023
Year 8
2024
Year 9
2025
Year 10
2026
Year 11
1,248,570
1,221,719
1,208,293
1,194,868
1,248,570
1,221,719
1,208,293
1,194,868
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
80,472
13,138
8,211
98,537
75,250
37625
0
83,691
13,664
8,540
102,478
75,250
37625
0
0
171,875
0
87,038
14,210
8,881
106,578
75,250
37625
0
90,520
14,779
9,237
110,841
75,250
37625
313,234
321,248
501,458
338,251
935,336
900,471
706,835
856,617
(370,829)
-608,033
-43,526
535,638
(333,327)
-645,535
-78,391
457,247
(293,512)
-685,350
-272,027
185,220
(251,241)
-727,621
-122,245
62,975
2027
Year 12
2028
Year 13
2029
Year14
2030
Year 15
1,181,442
1,181,442
1,168,017
1,154,591
1,181,442
1,181,442
1,168,017
1,154,591
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
94,141
15,370
9,606
115,274
75,250
37625
0
97,906
15,985
9,990
119,885
75,250
37625
0
101,823
16,624
10,390
124,681
75,250
37625
0
105,895
17,289
10,806
129,668
75,250
37625
347,266
356,642
366,392
376,533
834,176
824,800
801,625
778,058
(206,363)
-772,499
-144,686
-81,711
(158,717)
-820,145
-154,062
-235,773
(108,132)
-870,730
-177,238
-413,011
(54,428)
-924,435
-200,804
-613,815
2031
Year 16
2032
Year 17
1,141,166
1,127,740
1,141,166
1,127,740
2033
2034
2035
2036
Year 18 Year 19 Year 20 Year 21
1,114,315 1,100,889 1,087,464 1,075,038

###
###
###
###
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
110,131
17,981
11,238
134,855
75,250
37625
0
114,537
18,700
11,687
140,249
75,250
37625
0
119,118
19,448
12,155
145,859
75,250
37625
0
123,883
20,226
12,641
151,693
75,250
37625
0
128,838
21,035
13,147
157,761
75,250
37625
0
133,992
21,876
13,673
164,071
75,250
37625
387,079
398,048
409,455 421,318 433,655 446,487
754,087
729,692
704,860 679,571 653,809 628,551
(6,047)
-401,812
346,227
-267,587
0
0
0
0
0
729,692 704,860 679,571 653,809 628,551
462,105 1,166,965 1,846,537 2,500,345 3,128,897

Kiss Project - Solar Panel (Monthly Rest) 180814

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CAPITAL EXPENDITURE - COMMISIONING OF 1 MWp GRID CONNECTED PV SYSTEM

To Design, supply , deliver , install, testing and commisioning of 1MWp grid

1 Solar PV Module HANWHA 250Wp

TOTAL BIPV SYSTEM PRICE WITH TAX AND DUTY

Unit Rate (RM)

Total Price (RM)

Koperasi KISS Berhad

Office Rental (monthly)

Total Facility cost

Loan Repayment to SKM - Principal Portion

Koperasi KISS Berhad

1,114,315 1,100,889 1,087,464 1,075,038

1,114,315 1,100,889 1,087,464 1,075,038

Loan Repayment to SKM - Interest Portion

1 Loan will be secured at 100% project cost

Koperasi KISS Berhad

1,114,315 1,100,889 1,087,464 1,075,038

1,114,315 1,100,889 1,087,464 1,075,038

SPV Co. (XYZ Sdn Bhd)

Profit before tax

Average Sales Output - 1000MWc

Attributable Profit (80%)

SPV Co. (XYZ Sdn Bhd)

Net Cash Flow of the project from year 2015-2036

ATTRIBUTABLE PROFIT TO RELEVANT

ATTRIBUTABLE PROFIT TO RELEVANT

PROFIT BEFORE TAX FROM 2015-2019

Monthly payment of loan

### 736,667 216,667

### 852,511 284,170

### 966,655 322,218

Err:509 (231,651) 1,017,727 1,008,090

Err:509 (223,901) 1,025,787

Balance c/f (A)- (B)

1 Land Lease cost will be paid in lump sum at initial year

Koperasi KISS Berhad

1,114,315 1,100,889 1,087,464 1,075,038

409,455 421,318 433,655 446,487

704,860 679,571 653,809 628,551

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