CaturSentosaAdiprana (CSAP) booked net income of Rp31b in 1Q17, up 47% yoy from Rp21b in 1Q16. 1Q17 revenue came in at Rp2.2t, up 16.5% yoy from Rp1.9t in 1Q16. About 71% of its revenuecame from the distribution segment and 29% came from the modern retail business. The company targets to book revenue of Rp9.0t andnet income of Rp90b this year. It has allocated capex of Rp250b this year, out of which Rp150b will be used to finance the modern retail business’ expansion and Rp100b will be used to finance the expansion of distribution business.