MANILA - Jollibee won't be endorsing any political candidate in this year's presidential elections.

Jollibee Foods Corp. issued a statement on Wednesday saying the company, its founder and chairman Tony Tan Caktiong "are apolitical and as such, do not endorse any political candidate, organization or agenda."

This comes after a false news report claimed Caktiong already picked a candidate to endorse.

"Both the company and Mr. Tony Tan Caktiong are all for fair, clean and honest elections this coming May 2016. Jollibee’s thrust as a company, then and now, is to continue spreading joy to the Filipino people through our langhap-sarap offerings and joyful bonding moments," the firm said.

Jollibee Foods operates the largest food network in the country with more than 2,000 stores in the Philippines under various brands.

In 2015, the company posted profits of P4.8 billion. Jollibee Foods opened 303 stores in 2015, the highest number of stores opened in one year in the company’s history.