CSAP Continues to Strengthen Retail Sector, Targets 50 Mitra 10 Superstores Ownership by 2023

JAKARTADAILY.ID – PT Catur Sentosa Adiprana Tbk (IDX: “CSAP”) is optimistic that the target of ownership of 50 Mitra10 superstores will be achieved in 2023.

Corporate Secretary of PT Catur Sentosa Adiprana Tbk Idrus H. Widjajakusuma said this belief was based on the huge potential of Modern Retail Building Materials in Indonesia.

“Especially supported by very supportive economic growth, a fairly large total population, the growing need for home renovations, and the property sector. Both primary and secondary properties," said Idrus in a company public expose, Wednesday, June 22, 2022.

Also Read: Mitra10 Opens 44th New Outlet in Cibinong Bogor, Customers Can Shop Via Social Media

Idrus emphasized that CSAP with the support of all shareholders is consistent in focusing on aggressive expansion in the modern retail sector.

Therefore, the company that owns the Mitra10 Modern Retail Building Materials and Atria home furnishings has set a second long-term target of having 100 Mitra10 superstores by 2030.

The long-term target is not excessive. Based on government data, BPS noted that in Q1 2022, the real estate and construction sectors grew by 3.78 percent yoy and 4.83 percent yoy, respectively.

This sector is believed to have a major contribution to the national economic recovery.

"The property business is said to be able to drive around 174 other sectors, so this sector (property) is said to have a significant multiplier impact, including in the building materials retail sector," Idrus said.

Also Read: CSAP Will Take Bold Steps to Drive Modern Retail Sector Expansion in Indonesia

Currently, CSAP has 44 “Mitra10” Modern Retail Building Materials & Home Improvement stores, as well as 18 “Atria” Modern Home Furnishing Retail showrooms in major cities in Indonesia such as Jabotabek, Cikarang, Karawang, Cirebon, Yogyakarta, Solo, Denpasar, Lampung, Palembang, Batam, Medan, Pekanbaru, Makassar, Balikpapan and Banjarmasin.

The Company in the distribution segment has 43 Building Material Distribution Branches in 41 big cities, 4 Chemical distribution branches, and 38 consumer goods (FMCG) distribution areas.

"This year CSAP plans to open 4 new Mitra10 superstores and carry out 1 remodeling of Mitra10 (moving to a new, wider location)," said Idrus.

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