MANILA, Philippines – Fast food giant Jollibee Foods Corp. is looking to open branches of its flagship brand Jollibee in Malaysia and Indonesia over the next two years to expand its presence in the ASEAN region.
Jollibee chief finance officer Ysmael Baysa said it may bring the Jollibee brand to these countries because they have yet to find Malaysian and Indonesian brands it could purchase.
"We hope that within the next two years to go back to Indonesia and enter Malaysia," Baysa said.
Jollibee has already expanded to China, Singapore, Hong Kong, Vietnam, Brunei, Saudi Arabia and Qatar.
Jollibee maintained a strong performance in the second quarter of the year despite rising prices of commodities.
Baysa said most brands under the Jollibee group had to adjust prices because of the rising cost of raw materials, but he said the adjustments were minimal and did not affect volume growth.
Baysa also noted that the truck ban played a factor in the company's business operations.
"It has slowed our delivery of products from the warehouse to the stores because we can only make deliveries at night," he said.
Jollibee earlier revealed plans to double its earnings in the next five years as it further expands in China and in the US.
The fast food giant is operating 2,217 restaurants in the Philippines and 588 branches overseas.