Jollibee Foods Corp Goes on Venture in West Malaysia
JOLLIBEE FOODS CORP – The JFC agreed on a joint venture to build at least 120 stores in West Malaysia including its capital, Kuala Lumpur.
One of the most popular food chains in the Philippines is Jollibee. It is a kid-friendly restaurant that serves different kinds of foods but is most famous for its crispy chickenjoy. It also serves spaghetti, French fries, burger steak, and palabok among others.
Jollibee also serves desserts like its Sundae ice cream and some pies including the peach mango pie that a lot of people love. Its Sundae ice cream comes with two flavors – the original chocolate Sundae and the caramel Sundae. Both are delicious.
There are hundreds of Jollibee stores in the Philippines. It also got several branches abroad and these stores satisfy the cravings of overseas Filipino workers (OFWs) as they are away from home.
More and more Jollibee stores will surely open abroad. Based on a report on ABS-CBN News, Jollibee Foods Corp. agreed on a joint venture to build at least 120 stores in West Malaysia. The venture will start in 2022 and the country’s capital, Kuala Lumpur, is one of those where a store would be opened.
According to the report, JFC’s unit Golden Plate Pte Ltd will be on a business venture with Beeworks Investments/ They agreed to invest $8 million as initial investment in their business venture. Golden Plate will own 30% while Beeworks Investment will have 70%.
Based on their proposed ownership proportion, Golden Plate’s initial investment will be at $2.4 million. Most of Beeworks Investment is owned by business magnate Patrick Chong, a franchisee of the restaurant in East Malaysia. Reportedly, Jollibee Foods Corp. said that it currently has 885 stores in Southeast Asia.
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