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Jollibee inks deal to operate, open 120 stores in West Malaysia, Kuala Lumpur

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ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2021/tvpatrol/07/26/bgc-jollibee-store-10-jc.jpg"/><figcaption>Fastfood giant Jollibee store at the Bonifacio Global City (BGC) in Taguig. July 4, 2017. <em>Jonathan Cellona, ABS-CBN News/File</em></figcaption></figure></div><p>MANILA - Jollibee Foods Corp on Thursday said it has signed a joint venture to own and operate Jollibee stores in West Malaysia including the country&#x27;s capital Kuala Lumpur.</p><p>The venture involves the opening of at least 120 stores within ten years starting in 2022, it said in a disclosure to the stock exchange. </p><p>JFC&#x27;s unit Golden Plate Pte Ltd based in Singapore formed a joint venture company with Beeworks Investments Pte Ltd for the fast-food chain&#x27;s entry to West Malaysia, JFC said.</p><p>Under the deal, the parties will establish a company in Malaysia which 30 percent will be owned by Golden Plate while 70 percent will be owned by Beeworks Investments, the country&#x27;s largest restaurant operator said. </p><p>Both parties have committed to initially invest $8 million (P402 million) to the joint venture, of which up to $2.4 million (P120 million) will be from Golden Plate &quot;in proportion to its ownership in the business,&quot; it added.</p><p>Beeworks Investments is majority-owned by Jollibee East Malaysia franchisee Patrick Chong. Chong&#x27;s Luxasia Group, which carries luxury and lifestyle brands, has been a &quot;longstanding&quot; investor in Malaysia, JFC said. </p><p>JFC said its Southeast Asia business has a total of 885 stores.</p><p>The Jollibee Group, one of the fastest-growing companies in Asia, operates 17 brands in 33 countries with a total network of 5,816 stores globally. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/02/15/21/jollibee-income-rebounds-in-q4-eyes-expansion-this-year">Jollibee back in black in Q4, eyes expansion this year</a></li>	<li><a href="https://news.abs-cbn.com/business/06/22/21/jfc-incorporates-yoshinoya-joint-venture-sec">Jollibee joint venture with Japan&#x27;s Yoshinoya gets SEC nod</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1660254" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

<p>Jollibee Foods Corp on Thursday said it has signed a joint venture to own and operate Jollibee stores in West Malaysia including the country's capital Kuala Lumpur.</p>

Jollibee Foods Corp on Thursday said it has signed a joint venture to own and operate Jollibee stores in West Malaysia including the country's capital Kuala Lumpur.