Optimization of the Intermediary Role of Zakat with The Business Model Canvas (BMC)

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This research aims to analyze the implementation of the Business Model Canvas (BMC) as a strategy to optimize the intermediary role of zakat at BAZNAS West Java. The background of the study stems from the suboptimal realization of zakat collection despite its significant potential. This indicates a low optimization of zakat collection and an ineffective distribution role of zakat. Overall, the intermediary role of zakat has not been optimized. Various factors contribute to this, including the adaptation and implementation of the Business Model Canvas (BMC) strategy. There are numerous challenges in implementing the BMC strategy at BAZNAS West Java. The research method used is a survey method with a descriptive analysis approach. The survey was conducted at BAZNAS West Java. Data collection techniques include documentation and interviews. The results of this study are expected to serve as a reference for zakat institutions regarding strategies to optimize the intermediary role of zakat through the adaptation and implementation of the BMC strategy. The study’s findings can demonstrate that the implementation of the Business Model Canvas (BMC) as a strategy can optimize the intermediary role of zakat at BAZNAS West Java.

Food Hygiene and Sanitary Condition Awareness among Street Food Vendors

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The objective of this study was to investigate the level of awareness among the street food vendors in Barangay Saber, Marawi City specifically regarding food hygiene and sanitary condition. The researcher utilized a descriptive-survey research design using survey-questionnaires as the primary tool to figure out the problems in sustaining food safeties for the consumers. These street food vendors play an important role in the economy by making goods more accessible and affordable, as well as providing livelihood opportunities for people with few job options in the city. The survey-questionnaires were contained of two parts, part one, socio-demographic profile of respondents and part two were the problems on food street vendors’ food hygiene and sanitation awareness in terms of food serving and surrounding sanitation. A total of forty-one (41) street food vendors participated in the study. Moreover, the study employed frequency, percentage distribution and weighed mean with the aid of SPSS Software as statistical tools used to understand the data and interpret the results properly. The results revealed that all the identified indicators that may influenced the maintaining of proper hygiene and sanitary of food establishments of the street vendors were positively perceived by the respondents. The street food vendors were properly aware on the important of food hygiene which is part of food safety and ensuring the health and well-being of the consumers. The average weighted mean is 2.70 or “often” as descriptively define. Results implied that these street food vendors were observing properly the importance of cleanliness to prevent their customers from illnesses due to negligence on proper handling of foods and maintaining the positive environment.

Effect of Loan Disbursement, Non-Performing Loan (NPL) and Current Account-Saving Account (CASA) Ratio on The Profitability of Digital Bank Listed on Indonesia Stock Exchange

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Technological advances have brought updates to business processes and banking services in Indonesia, namely the birth of banks that provide digital-based services to customers or called Digital Banks. The development of this digital banking ecosystem is supported by the economic conditions that have recovered after COVID pandemic ended. Digital transformation has certainly encouraged the emergence of several Digital Banks that have become Game Changers in the financial services business by offering convenience in digital products and services. A number of Digital Banks have succeeded in becoming public companies, recording credit growth, managing the non-performing loan ratio, increasing the growth of third-party funds, especially for online savings products through the digital banking products offered, and increasing the profitability ratio. Objective of this research is to determine the effect of Loan disbursement, NPL and CASA (Current Account-Saving Account) Ratio on the Profitability of Digital Bank that listed on Indonesia Stock Exchange for the 2018-2024 research year. The population data used is go-public Digital Bank and the sample is Digital Banks that are included in the Bank Group category based on Core Capital 1 and 2. Secondary data that used in this research are quarterly and annual bank report which are available on websites of Indonesian Stock Exchange and Financial Services Authority.

Stock Valuation of PT Widodo Makmur Perkasa TBK by Using Discounted Cash Flow Method and Relative Valuation

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 The emergence of Covid-19 in Indonesia caused an economic decline in 2019-2020. This also has an impact on the capital market in Indonesia, which is shown by the decline in the Composite Stock Price Index (IHSG) which was seen at the beginning of 2020 at the level of 6,300 and decreased to 3,900 in March 2020. However, the number of investors in Indonesia has increased every year, the same as the increase number of companies that have conducted an initial public offering (IPO) and listed their shares on the Indonesian Stock Exchange (BEI). One of the companies conducting an initial public offering is PT Widodo Makmur Perkasa Tbl. (WMPP) in 2021. This company has the potential to continue to grow knowing that Indonesia’s population is expected to continue to grow at a growth rate of 1.25 percent per year, and the Indonesian economy will grow by 5.31 percent in 2022, exceeding the growth rate in 2021 it is 3.70 percent, and is expected to continue to increase every year. In addition, the urban population in Indonesia is expected to reach 66.6% in 2035 and 70% in 2045. This study aims to find out whether WMPP companies are valued too low or too high using the DCF and Relative Valuation methods. Apart from that, this research also carried out external and internal analysis to see the company’s potential. The method used to analyze external conditions in company analysis is PESTEL and the author uses VRIO analysis to determine internal conditions.

The findings of the study reveal that this company’s industrial sector is attractive to investors because this industry has a significant contribution to the development of Indonesia’s GDP; this can be a trigger for the Government of Indonesia to continue to support this sector. Apart from that, increasing people’s income and the company’s concern for the environment can be an attraction for investors. However, the only problem is disease outbreaks in cows and chickens which can trigger a decline in income.

Based on the result of the VRIO analysis, this company has sustainable competitive advantages such as a large number of assets with quite a lot of production capacity.  This company also has a vertical integration business and diverse products & business units.

The result of the WMPP company valuation based on relative valuation show that the WMPP company has a lower PER, PBV and EV to EBITDA than those of the average of similar companies or can be said to be undervalued. However, the WMPP company’s EV to Sales is higher than that of the average of similar companies, indicating that the stock is overvalued. Furthermore, based on the Discounted Cash Flow (DCF) result, the intrinsic value of this company is IDR -55, but the share price is IDR 50. This shows that WMPP is overvalued.

Technical Evaluation of the Utilization of Moringa Leaf Flour in Substituting Commercial Feed for Pigs

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This study aims to determine the effect of commercial complete feed substitution with moringa leaf flour on feed consumption, water consumption, and weight gain in pig farmers. This study is also expected to produce useful scientific information in the development of more economical and sustainable feed formulas for pig farmers. In addition, it can support efforts to diversify quality local feed ingredients to reduce dependence on imported commercial feed. The materials used were 12 male castrated landrace pigs aged 3-5 months with an initial body weight ranging from 38-55 kg, an average of 45.17 (CV = 13.31%). This study used an experimental method with a Completely Randomized Design (CRD) consisting of 4 treatments with each treatment repeated 3 times so that there were 12 experimental units. The treatments were P0: 100% commercial complete feed, P1: 90% commercial complete feed + 10% moringa leaf flour; P2: 85% commercial complete feed + 15% moringa leaf flour; P3: 80% commercial complete feed + 20% moringa leaf flour. The data obtained were tabulated and statistically analyzed using the ANOVA analysis of variance procedure using IBM SPSS 21 software. The results of the study showed that the substitution of commercial complete feed with moringa leaf flour up to 20% had no significant effect (p>0.05) on ration consumption, water consumption and daily weight gain. This study concludes that moringa leaf flour can substitute 20% of commercial complete feed in pig farmers’ pigs.

Factors Influencing Company Value on the Indonesian Stock Exchange: Insights from LQ45 Companies (2019-2023)

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This study examines the variables affecting the firm value (Tobin’s Q) of the Indonesian Stock Exchange’s LQ45 Index between 2019 and 2023. We assess sustainability scores (ESG Score) and some financial performances ratios i.e. return on assets (ROA), return on equity (ROE), and debt to equity ratio, whether each respective of these factors influence the firm value (Tobin’s Q) using quantitative analytical data obtained from the Indonesian Stock Exchange website. 41 of the 45 businesses that meet the study’s requirements are the subject of our analysis, yielding 205 samples in total. Eviews version 11 software was used to do multiple linear regression analysis on the data. All the independent factors (X1, X2, X3, and X4) have statistically significant individual effects on the dependent variable, according to our findings, which are based on the t-test results. The probability values for each of these variables are below 0.05. Furthermore, the F-test indicates that the independent factors taken together significantly affect the dependent variable, with a probability value of 0.000. Based on the determination coefficient test, the adjusted R square value is 63.12% which indicates that the independent variable significantly influences the dependent variable.

Identity Negotiation of Indigenous Religious Believers in Banyumas, Central Java

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Indigenous religious are often labelled as primitive, misguided, and even atheistic. As a stigmatized group, these believers negotiate their identity by communicating with people outside their community. This negotiation is carried out by the believers to be accepted in their social environment. This study aims to understand the identity negotiation of believers in Banyumas Regency. The research employs a qualitative method with a phenomenological approach. Data collection is conducted through in-depth interviews, observation, and documentation. The findings reveal that identity negotiation is carried out through openness to the surrounding community to build mutual trust. The believers exhibit polite and ethical behaviour as part of a positive self-presentation. They also prioritize harmony and avoid coercive actions as an expression of their commitment to respecting differences. This approach reflects their efforts to integrate while maintaining their identity.

Exploring the Ancient Temples of South India: A Review

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South India is home to some of the most exquisite and architecturally significant temples in the world, dating back to the Pallava, Chola, Pandya, and Vijayanagar dynasties. These temples not only serve as places of worship but also as repositories of art, culture, and history. This review explores the historical evolution of South Indian temples, their architectural marvels, and the religious and cultural significance they hold. Key architectural features, such as gopurams, vimanas, and intricately carved mandapas, reflect the ingenuity of ancient craftsmen and their alignment with spiritual and cosmic principles. The temples also served as centres of education, art, and socio-economic activities, sustaining traditional dance forms like Bharatanatyam and fostering community cohesion. Today, these temples are integral to cultural tourism, attracting millions of visitors who seek to experience their spiritual and historical heritage. By examining these enduring legacies, the review highlights the profound role of temples in shaping South India’s cultural identity.

Physical Profile of Shrimp Paste (Mysis relicta) Powder with Varying Drying Times

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Rebon shrimp paste (Mysis relicta) is known for its savory taste, high nutritional content, and characteristic reddish-brown color. However, it also has some drawbacks, including inconsistent quality, a semi-wet texture, impracticality in handling, and a relatively short shelf life. To address these issues, one solution is to modify wet shrimp paste into value-added products, such as shrimp paste powder. Shrimp paste powder is produced by drying the paste using an oven at specific temperatures and for varying durations. This study aims to determine the effect of different drying times on the physical, chemical, and sensory characteristics of the powder. Additionally, the study seeks to identify the best treatment based on the drying time that yields the highest quality shrimp paste powder. The study employed a Completely Randomized Design (CRD), with each treatment repeated three times to ensure accuracy. The treatments used in the study were as follows: A1 (oven drying for 5 hours), A2 (oven drying for 6 hours), A3 (oven drying for 7 hours), and A4 (oven drying for 8 hours). The parameters observed in this study included physical analysis of color (lightness, chroma, and hue) and solubility. Based on the research, the best treatment was found to be the A4 treatment (8 hours of drying). The physical analysis of the color of shrimp paste powder showed lightness values ranging from 66.93% to 74.87%, chroma values from 7.89% to 10.54%, and hue values ranging from 6.97o to 21.79o. The solubility analysis results ranged from 62.53% to 66.31%.

Using IT in Area Suitability Modeling To Plan Urban Areas: Case of Kabul City, Afghanistan

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The goal of this work was to determine the optimal locations for urban growth in Kabul city using an integrated GIS-AHP model and Land Suitability Analysis (LSA). The study’s findings demonstrated that GIS-AHP is a useful approach for urban planning and ecological management. Maps were normalized using the pairwise comparison matrix technique using the generated criteria. Each model’s weights were created by comparing them according to their relative importance. Weight Age Average (OWA) and Weighted Linear Combination (WLC) were used to combine criteria weights and maps. To assess if a piece of land is suitable for urban development to determine which area was suitable for urban development, six thematic layers—slope, road, land use, river, settlement, and elevation—were used. AHP calculated their weighted scores based on the pairwise comparison.

The linear combination approach was used to multiply each factor’s weight and score, and the outcome was then multiplied to make the urban development appropriate. 45.3 square kilometers of land were deemed highly suitable, 191.77 square kilometers were deemed fairly acceptable, 72.14 square kilometers were deemed marginally suitable, and 0.79 square kilometers were deemed unsuitable.