MANILA - Max's Group said Tuesday it would open at least 10 Yellow Cab Pizza stores in Brunei and eastern Malaysia in the next five years as it expands overseas.

The restaurant operator told the stock exchange that it signed a development agreement with YTT Sdn Bhd for the new Yellow Cab stores.

"Looking ahead, we will continue to further unlock the brand’s potential in other markets,” said Robert Trota, Max’s Group president and chief executive officer.

The deal with YTT Sdn Bhd marks the second development agreement secured by Max’s Group this year and brings to 140 the number of overseas branches in the pipeline.

Yellow Cab Pizza operates a network of 150 branches, including eight franchised outlets in Qatar, two in the United Arab Emirates, one in Saudi Arabia, two in China, and one each in Hawaii and Singapore.

Max's Group shares were up 0.56 percent to P26.75 on Tuesday.