• Ajaib flagged Indonesia’s planned excise on sweetened ready-to-drink beverages for the 2027 budget, targeting IDR 1.6 trillion revenue.
• Tariffs, product scope, collection mechanism, and the start date remain unset, leaving timing risk for beverage-heavy consumer companies.
• Ultrajaya seen as most exposed, with about 99% of revenue from beverages; 1H 2026 revenue rose over 30%.
• Kino also highlighted as sensitive, with roughly 55%-57% beverage exposure; 1H 2026 net profit jumped 180.21%.
• Mayora, Cisarua Mountain Dairy viewed as more adaptable via diversification; Sido Muncul faces added risk amid weaker 1H 2026 results.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. PT Ajaib Teknologi Indonesia published the original content used to generate this news brief on October 12, 2026, and is solely responsible for the information contained therein.