PT Hanjaya Mandala Sampoerna Tbk (HMSP) plans to liquidate its subsidiary, PT Handal Logistik Nusantara.

"Currently, it is still in the liquidation process," said HMSP Corporate Secretary Maharani Djody in the IDX's information disclosure on Thursday (1/7).

According to Maharani, the liquidation process is related to changes in the company's business strategy.

"There will be no impact on the company's operational activities, financial condition or business continuity," she said.

Meanwhile, PT Reliable Logistik Nusantara is located in Surabaya, East Java.