IDX to Remove IDR 50 Minimum Share Price and Revise Auto Rejection Limits

Wheat Prices Surged 17% as Black Sea Disruptions Threatened Indonesia's Supply
Wheat futures have surged 17% since early Jul-26 as attacks on Black Sea grain infrastructure disrupted shipments, with Indonesia having contracted c.600,000 tonnes of wheat from former Soviet states for Jul-Sep. Indonesia may need to source alternative supplies from Australia, Bulgaria, Romania and Argentina, where Australian Premium White wheat is priced at USD 315–320/t vs USD 260–280/t for Black Sea wheat, potentially raising import costs. (Reuters)

IDX to Remove IDR 50 Minimum Share Price and Revise Auto Rejection Limits
The IDX plans to lower the minimum share price from IDR 50 to IDR 1 and revise auto rejection parameters, with ARB adjusted to 15% for shares priced above IDR 10, while ARA remains 35% for IDR 11–200, 25% for IDR 201–5,000 and 20% above IDR 5,000. For shares priced at IDR 1–10, both ARB and ARA will be set at IDR 1, while the revised parameters are scheduled for mock trading on 22 and 29 Aug-26, pre-live on 5 Sep-26, and full implementation on 7 Sep-26. The changes are aimed at improving liquidity and price discovery, with further implementation details to follow. (IDX)

Jakarta Targeted 10,047 Electric Buses by 2030 
The Jakarta provincial govt. targets 10,047 electric buses by 2030, which would fully electrify the TransJakarta fleet, from 500 electric buses currently in operation. The target supports Jakarta's Net Zero Emission goal by 2050, while public transport currently serves c.92% of Jakarta's population but accounts for 52% of direct GHG emissions. (Kontan)

Government Set IDR 3 mn Incentive for Electric Motorcycles in 2026 
The govt. allocated IDR 3 tn for 2026 electric motorcycle incentives, with the subsidy set at IDR 3 mn/unit, down from the previously planned IDR 5 mn. The govt. expects absorption at only c.100,000 units, implying c.IDR 300 bn of realized incentives versus the IDR 3tn budget, while AISMOLI warned that the lower subsidy could limit consumer affordability and demand. The program is targeted to start as early as Sep-26, with AISMOLI urging faster implementation given the limited time remaining in 2026. (Kontan)

BCAS: ACES IJ - 7M26 SSSG Softened Slightly to +2.0% YoY, Jakarta Still Carrying the Growth
■ ACES posted 7M26 SSSG of +2.0% YoY, a touch below the +2.2% booked in 6M26, but still a clear swing from -2.9% in 7M25. July indicative sales came in at IDR794bn (+8.0% YoY, +6.7% MoM), the best monthly print so far this year, taking 7M26 sales to IDR5.3tn (+6.5% YoY). Conversion held steady and basket size stayed healthy, so the momentum is coming from spending quality rather than discounting. 
■ Jakarta led again at +4.2% YoY, Java ex-Jakarta followed at +3.2%, while Ex-Java slipped to -0.3% from +0.3% in 6M26. Java ex Jakarta is the only region that improved sequentially, which tells us the recovery is spreading inside Java but has not reached the outer regions yet. All three still look far better than the weak 7M25 base (Jakarta -4.2%, Java ex-Jakarta -3.9%, Ex-Java -0.9%). Category mix shifted too, with Outdoor pushing Safety out of the top five on seasonal demand. 
■ We stay positive on ACES for FY26F since the 20bps dip is noise, and the 8.0% July sales growth points to intact momentum going into 2H26. Expansion kept running with two new AZKO stores in July (Tabanan 1,880 sqm and Tomohon 1,800 sqm, both Ex-Java) plus one NEKA in Cilacap (420 sqm), then four NEKA openings back to back on 14 to 17 August in Pemalang, Tegal, Boyolali, and Ciledug. As of 20 August 2026 ACES has opened 12 AZKO and 15 NEKA stores YTD, meaning NEKA rollout has now overtaken AZKO on a lighter and more flexible store model.

BCAS: SMGR IJ – Jul-26 Domestic Sales Volume
- SMGR's Jul-26 domestic sales volume reached 2.8mn tonnes (+9.0% MoM, -0.9% YoY), bringing 7M26 domestic sales volume to 17.0mn tonnes (+7.8% YoY), slightly below industry domestic demand growth of +9.5% YoY, with monthly and YTD bag portion at 71.4% and 72.9% respectively. 
- SMGR's domestic market share slipped to 45.1% in Jul-26 (vs. 48.3% in Jul-25), while 7M26 market share compressed to 47.0% (vs. 47.7% in 7M25).

Chandra Asri Pacific (TPIA) Agreed to Acquire Cycle & Carriage Automotive Business 
TPIA signed a conditional sales and purchase agreement (CSPA) to acquire Cycle & Carriage’s automotive business in Singapore and Malaysia, expanding its regional mobility platform. The acquisition will complement TPIA’s existing energy and retail businesses in Singapore, including its recent acquisition of the Esso-branded fuel station network. Completion remains subject to OEM approvals and other customary conditions, with Mizuho providing acquisition financing support. (Company)