PT Hanjaya Mandala Sampoerna Tbk (HMSP) transferred some of its business activities to provide services to PT Philip Morris Sampoerna International Services Center (PMSISC).

According to the Managing Director of HMSP, Mindaugas Trumpaitis, the transfer of several business activities aims to increase efficiency in the company and focus more on its main business activities. The main activity of the company is the manufacture and sale of cigarettes.

"The value of the business transfer transaction amounted to Rp19,794 billion," said Mindaugas in the IDX disclosure on Wednesday (5/5).

He added that the services transferred are in the financial sector, consisting of financial supervision, and expertise center for financial reporting planning and analysis, and other services.

This business transfer transaction is based on an agreement signed by the company and PMSISC on April 30, 2021, which is effective on May 1, 2021, several service leas