PRA 2nd Quarter Newsletter 2013 April-June 2013 | Page 3

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ilipino fast food chain Jollibee has
opened the doors of its first outlet in
Singapore. Located at Lucky Plaza on
Orchard Rd, the Jollibee has seating for
300. Jollibee in Singapore is a 60-40
joint venture between Jollibee Foods
Corporation’s wholly-owned subsidiary Golden Plate
and Singaporean company Beeworks.

“We are delighted to bring Jollibee
and its world-class delicious
food offerings to Singapore as we
believe that our food will appeal

to the good taste of Singaporeans,”
says Tony Tan Caktiong, Jollibee’s
chairman and founder.
The fast food chain, known for its chicken joy and
yum burgers, has 780 outlets domestically and 92
overseas. Most of the overseas openings will be in
China, Vietnam and United States.
JFC portfolio includes Jollibee, Chowking, Yonghe
King, Burger King, Red Ribbon, Mang Inasal and
Greenwich.
(InsideRetail.Asia, 12/03/13)

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hilippine Seven Corporation, the local
operator of the convenience chain 7-Eleven,
plans to open its 1000th store in the fourth
quarter of this year. The company, which currently
operates 800 outlets, will allocate 2 billion pesos
(US$49 million) to open 200 new stores this year.
“We’re investing a lot this year, We’re doubling
our business,” said Philippine Seven Corporation
president Jose Victor Paterno. “We intend to hit
our 1000th store sometime in the fourth quarter.
Hopefully earlier than later,” he added.
Paterno said the company is optimistic this year as
its sales last year have gone up when the government
implemented the Sin Tax Reform Law, which
increased the taxes on alcohol and cigarettes. “The
year has started out very well for us. We are actually
beneficiaries of the sin tax law. Basically, prices
of cigarettes have gone up and that means more
revenues,” said the president.

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ilipino property developer Ayala Land will be adding supermarkets to its properties.??Ayala Land has
signed a joint venture agreement with Puregold Price Club to open supermarkets in new integrated
and mixed-use developments.?

?“This new supermarket product will further enhance our retail offerings, which have been recently expanded
to include our other department store and convenience store joint ventures,” said ALI president and CEO
Antonino Aquino.??
The supermarket business will be developed by the companies’ subsidiaries Varejo Corporation and Estenso
Equities. ??The first supermarket under the agreement is planned to open next year.??
Earlier this year, Ayala, together with joint venture partners Itochu, Rustan’s Group and Japan’s FamilyMart,
opened FamilyMart in the Philippines.
(InsideRetail.Asia, 11/07/2013)

(InsideRetail.Asia, 02/25/2013)

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