JAKARTA. PT Hanjaya Mandala Sampoerna Tbk (HMSP), one of the biggest cigarette manufacturers in Indonesia, has just signed a lease agreement for its assets of unused land and building to its parent company, PT Philip Morris Indonesia (PMID).
Bambang Priambodo, the Corporate Secretary of Sampoerna, explained that the land and building assets would be leased for IDR 60.18 billion per year for the next five years. Thus, the total revenue would add up to IDR 300.9 billion.
“PMID needs additional buildings to improve its manufacturing processes,” Priambodo stated in the information disclosure on Indonesia Stock Exchange yesterday (4/5).
On the same occasion, Priambodo also claimed that HMSP agreed to redirect some of its businesses to PT Philip Morris Sampoerna International Service Centre (PMSISC), another subsidiary of Philip Morris. Furthermore, several employees of HMSP in the digital hub division would be relocated to support PMSISC.
The total transaction value of the said business redirection would reach IDR 19.79 billion. Then, for the employees’ relocation, the transaction value would be IDR 724.97 million.
According to idnfinancials.com, 92.5% of MHSP’s shares were under the control of PMID, while PMID’s portion within PMSISC was at 99.9%. (KR/ZH)