HM Sampoerna (HMSP) obtained rental income from Philip Morris Indonesia

July 03, 2019, 02.07 PM | Reporter: Aloysius Brama

PT HM SAMPOERNA TBK / HMSP - JAKARTA. Hanjaya Mandala Sampoerna Tbk (HMSP) records revenue from unused warehouse rentals. This transaction is an affiliate transaction between HMSP and the majority shareholder, PT Philip Morris Indonesia.

Citing information disclosure on the Indonesia Stock Exchange website on Wednesday (3/7), Philip Morris rented three building units in the HMSP factory area in Karawang International Industrial City (KIIC).

There are three transactions between parents and subsidiaries. The first transaction was in the form of leasing land and buildings covering an area of 7,360 square meters (m²). Second, rent a land area of 2,808 m². The third transaction is leasing land and two warehouses with a total area of 1,587 m².

Regarding the first transaction, Philips Morris must pay a total rental fee of Rp. 20.72 billion from May 15, 2019, to June 30, 2023. For the second transaction, HMSP obtained Rp. 7.36 billion in revenue. Philip Morris will pay rent for the period June 3, 2019, to June 30, 2023.

The third transaction generates revenue of Rp. 4.25 billion.

All HMSP revenues from this affiliate transaction reached Rp32.33 billion.

Throughout 2018 HMSP generated revenue of Rp. 106.74 trillion. This figure is up 8% from similar posts per 2017 (Rp9.09 trillion).

During the first quarter of 2019, HMSP posted revenue of Rp. 23.80 trillion. That figure increased by around 2.8% compared to income in the first quarter of 2018 (Rp. 23.13 trillion).