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Jollibee earmarks USD134.79m for store expansion in the Philippines and China

Jollibee Foods Corporation is allotting PHP5.8 billion (USD134.79m) for its capital investment budget this year as it aims to continue expanding its operations in the Philippines and in China.

In a disclosure to the Philippine Stock Exchange, Jollibee said up to half of this year’s budget will be spent to increase its store count by 125 stores in the Philippines and 100 stores in China.

Jollibee chairman Tony Tan Caktiong said the company is "always on the lookout" for acquisition opportunities overseas and in the domestic market and wants to expand in India at some point.

(Source: Manila Bulletin)