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Tag: Philippines

  • Tom van Wijlick Launches New Watch Brand to Meet Rising Consumer Demand

    Tom van Wijlick Launches New Watch Brand to Meet Rising Consumer Demand

    Tom van Wijlick, an emerging force in the watch industry, shares his journey from an IT entrepreneur to the founder of two successful watch brands, Lebois & Co and Airain. With a passion for horology ignited by his childhood Swatch, van Wijlick has set out to revitalize legacy watch brands that have historical significance while appealing to today’s watch enthusiasts.

    From Passion to Profession

    The Genesis of a Watch Enthusiast

    Van Wijlick’s journey into the world of watches began when he unearthed his first Swatch. Inspired by the joy he saw in others with these timepieces, he transitioned from running a small IT company to trading watches in 2012. “Seeing the joy a beautiful timepiece brought to people quickly became my motivation,” he recalls.

    A Bold Leap into Brand Creation

    His foray into brand-making started alongside his cousin with the launch of an online boutique for Gérald Clerc in 2013. Recognizing the growing potential within the watch sector, van Wijlick sought to create a brand that could capture the hearts of collectors and enthusiasts. The revival of Lebois & Co—once a defunct name—was the pivotal moment that marked the beginning of this new chapter.

    Reviving Heritage: Lebois & Co and Airain

    The Distinctive Character of Each Brand

    In 2020, van Wijlick acquired Airain, a brand with military roots connected to the French Army. “Lebois is the more elegant of the two, known for chronographs and chronometers, while Airain focuses on utilitarian designs, particularly in aviation,” he explains, emphasizing how each brand complements the other.

    A Commitment to Craftsmanship

    With the successful launch of the Heritage Chronograph, van Wijlick is now focused on expanding this collection with both historically inspired models and contemporary designs. He aims to capture wider consumer interest by combining quality and authenticity at a fair price point.

    Anticipating the Future

    Van Wijlick teases that new models are on the horizon. “We are currently working on the final touches… collectors and enthusiasts won’t have to wait much longer,” he assures.

    Trends Reshaping the Watch Industry

    A Growing Appeal for Lesser-Known Brands

    As consumer demand surges for authentic and independent brands, van Wijlick observes a shift in the market. “More and more people are becoming interested in lesser-known brands,” he points out. The digital landscape has granted these brands greater visibility, making it easier for consumers to discover unique offerings.

    The Importance of Swiss-Made Quality

    Even amidst global competition, Swiss provenance retains its prestigious status. With a commitment to manufacturing in Switzerland, van Wijlick reinforces the brand’s dedication to quality and craftsmanship that collectors expect.

    Strategic Market Expansion

    Focused Growth in Key Markets

    The brands are currently experiencing notable traction in Europe and Asia, with plans for a press event in Milan aimed at enhancing their presence in Italy, a critical market for luxury watches.

    Looking Beyond

    In addition to expansion in established markets, van Wijlick is eyeing opportunities in regions like Australia and Mexico. “Lebois & Co and Airain have a lot of potential beyond our current core regions,” he states, highlighting the growing global enthusiasm for niche brands.

    Conclusion: A New Dawn for Heritage Brands

    As Tom van Wijlick continues to innovate within the watch industry, his vision signifies a positive shift for heritage brands striving to resonate with modern consumers. The blend of tradition and contemporary appeal may well redefine consumer trends in the luxury watch sector.

    Questions & Answers

    1. What inspired Tom van Wijlick to enter the watch industry?
    His passion for watches began with a childhood Swatch and evolved into a career after he saw the joy these timepieces brought to others.

    2. What sets Lebois & Co and Airain apart?
    Lebois & Co focuses on elegant designs and chronographs, while Airain draws from its military aviation roots, providing a more utilitarian aesthetic.

    3. How are the brands planning to expand in the future?
    The brands aim to grow their presence in key markets like Italy, while exploring opportunities in new regions like Australia and Mexico, which offer significant potential for niche brands.

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  • Coconut Prices Surge in Asia Amid Climate Impact on Supply

    Coconut Prices Surge in Asia Amid Climate Impact on Supply

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    Vina T&T, a major player in the fruit export sector, is making headlines as it offers a staggering VND 220,000 (approximately US$8.47) for a dozen coconuts—the highest recorded price to date. With prices more than doubling year-on-year, this surge reflects broader trends impacting the coconut market worldwide, influenced by supply disruptions and rising consumer demand.

    Coconut Prices on the Rise

    Industry experts indicate that coconut prices are increasing at an alarming rate, paralleling the volatility seen in gold prices. Nguyen Dinh Tung, CEO of Vina T&T, highlighted the challenges in supply, revealing that the company currently exports seven containers of coconuts weekly, which only meets two-thirds of its international buyers’ needs.

    Global Trends Impacting Supply

    The surge in coconut prices is not confined to Vietnam. Countries like Sri Lanka, the Philippines, and Thailand—significant exporters of the nut—are experiencing a similar escalation in prices, with increases ranging from 50% to 100% year-on-year. For instance, coconuts now retail for $2.90 per kilogram in Thailand and up to $4.28 in the Philippines.

    Supply chain disruptions due to extreme weather events are primarily responsible for this instability. El Niño is causing heatwaves and droughts, while La Niña brings excessive rainfall and storms, adversely affecting coconut yields. Additionally, pest outbreaks have further complicated production, as demand from key markets—particularly China and the United States—continues to push prices upward.

    Vietnam’s Growing Coconut Export Market

    Despite the challenges, Vietnamese coconuts are carving out a strong niche in global markets thanks to their competitive pricing and exceptional quality. The Ministry of Agriculture and Environment reports robust growth in fresh coconut exports from Vietnam in the first four months of this year, particularly to the U.S. and China.

    As the world’s fifth-largest coconut exporter, Vietnam boasts 200,000 hectares of orchards, producing approximately two million tons annually. Last year alone, the value of coconut exports and related products reached nearly $1.1 billion, with coconuts accounting for $390 million. Following the U.S. opening its market to Vietnamese coconuts in August 2023, exports skyrocketed eleven-fold within less than a year.

    The formal export protocol signed with China in August 2024 has also dramatically increased shipments, positioning Vietnam as a key supplier in a market that consumes an estimated four billion coconuts annually.

    Future Outlook

    According to Dang Phuc Nguyen, General Secretary of the Vietnam Fruit and Vegetable Association, Vietnamese coconuts are gaining popularity, especially in summer among consumers in the U.S. and China. He predicts that fresh coconut exports could reach an unprecedented $500 million by the end of this year, highlighting the brand’s potential for expansion and establishing itself as a significant player in the international market.

    The recent trends in the coconut market, marked by soaring prices and growing demand, signal a shifting landscape for both producers and consumers. As demand continues to rise, the potential for Vietnam’s coconut industry to grow and expand is substantial, making this a crucial moment in retail news.

    Questions & Answers:

    1. Why are coconut prices rising so dramatically? Coconut prices are climbing due to supply chain disruptions caused by extreme weather conditions such as droughts and excessive rainfall, alongside increased global consumer demand.

    2. How is Vina T&T responding to the rising prices? Vina T&T has increased its farm gate price to a record VND 220,000 for a dozen coconuts, but it still struggles to meet the high demand from international buyers.

    3. What does the future hold for Vietnam’s coconut exports? With strong growth anticipated, Vietnamese coconut exports are projected to reach $500 million this year, bolstered by access to key markets like the U.S. and China.

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  • SM Prime’s $9B Expansion Plan Unveils Ambitious Retail Growth Strategy

    SM Prime’s $9B Expansion Plan Unveils Ambitious Retail Growth Strategy

    SM Prime Launches Ambitious Expansion Plan Amid Rising Consumer Trends

    In a bold move reflecting the growing consumer wealth in the Philippines, SM Prime Holdings is set to embark on its most extensive expansion and diversification initiative since opening its first mall in 1985. With plans to enhance its portfolio and respond to surging consumer demand, the leading mall operator aims to redefine the retail landscape in the country’s booming economy.

    A Comprehensive Expansion Blueprint

    SM Prime’s chairman, Henry Sy Jr., emphasized the urgent need for growth during the recent stockholders meeting. “We need to continue expanding and investing because the opportunities just keep growing,” he stated. With a clear roadmap, the company plans to open 10-15 new shopping malls and up to five integrated property developments. Additionally, the agenda includes establishing eight hotels, two convention centers, a dozen office and residential towers, and four luxury residential projects.

    Sustainable Funding Strategy

    Company president Jeffrey Lim revealed that the majority of the funding for this ambitious expansion will be sourced from internal cash flow, showcasing SM Prime’s commitment to sustainable growth. This strategic approach positions the company well against increasing competition from major players like Ayala Land and Robinsons Land, as the retail sector continues to evolve.

    Market Leadership and Strong Performance

    Currently, SM Prime boasts an impressive footprint as the Philippines’ largest mall operator, managing 87 shopping malls that encompass a total gross floor area of 9.4 million square meters. Additionally, its diverse portfolio includes 10 hotels, over 2,600 rooms, eight convention centers, and more than 22 office buildings.

    In the first quarter of 2023, SM Prime reported a net income of 11.9 billion pesos, an 11% year-on-year increase. Revenue also surged by 7% to 32.8 billion pesos, powered by heightened rental collections and robust real estate sales. Notably, malls remained the cornerstone of profitability, contributing 69% to the company’s earnings.

    Addressing External Challenges

    Despite the challenges posed by new U.S. tariffs, SM Prime remains optimistic about its market positioning. Lim noted that the Philippines’ predominantly domestic economy, coupled with limited exposure to adverse external factors, offers a buffer against potential risks. Continued consumer spending and favorable macroeconomic conditions are expected to further bolster growth.

    “We have a solid foundation, and we are confident in our capacity to generate long-term, sustainable value for our shareholders,” Lim remarked.

    The Future of Retail in the Philippines

    This significant expansion by SM Prime signals a transformative period for the retail sector in the Philippines, poised to adapt to shifting consumer trends and preferences. As the brand expands its presence and invests in diversified developments, the ripple effects on local economies and consumer experiences will be noteworthy.

    Questions & Answers

    1. What is SM Prime’s expansion plan? SM Prime plans to open 10-15 new malls, five large-scale property developments, eight hotels, two convention centers, and other residential projects.
    2. How is the expansion being funded? The majority of the funding will come from internal cash flow, demonstrating a commitment to sustainable growth.
    3. What are the potential impacts of this expansion? The expansion is expected to enhance the retail landscape, boost local economies, and improve consumer experiences across the Philippines.
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  • Zus Coffee Aims for 200 New Outlets Across Southeast Asia in 2023

    Zus Coffee Aims for 200 New Outlets Across Southeast Asia in 2023

    Zus Coffee Eyes Major Expansion with 200 New Outlets in Southeast Asia

    Company Targets Multi-National Growth in 2024

    Malaysia’s prominent coffee chain, Zus Coffee, is set to make a significant impact on the Southeast Asian market by launching 200 new outlets this year. In an exclusive interview with Bloomberg, CEO Venon Tian detailed the ambitious expansion plans that include new locations in Malaysia, the Philippines, Singapore, Thailand, and Indonesia.

    Strategic Store Launches Across the Region

    The expansion strategy involves opening at least 107 new stores in Malaysia, 80 in the Philippines, and 6 in Singapore, alongside penetrating the Thai and Indonesian markets for the first time. This move reflects Zus Coffee’s robust growth trajectory and its ambition to solidify its position as a major player in the region’s coffee retail sector.

    Surpassing the Competition

    Since its inception in 2019, Zus Coffee has experienced remarkable success, recently surpassing Starbucks to become Malaysia’s leading coffee chain. With 743 outlets, Zus has significantly outpaced Starbucks, which operates 320 locations in the country. Zus Coffee also boasts 120 outlets in the Philippines, underlining its strong regional presence.

    Rewarding Taste with Value

    In its most recent financial report, Zus Coffee revealed a substantial threefold increase in net income, reaching RM37 million (approximately US$8.4 million) in 2024. This impressive growth can be attributed to the brand’s focus on market-specific flavors, such as palm sugar-infused drinks in Malaysia and unique purple yam coffee in the Philippines.

    Innovation Meets Accessibility

    Transitioning from a delivery-focused kiosk to a widespread coffee retailer, Zus Coffee has enhanced its sales strategy, with around 70% of sales now derived from online channels, including delivery and pickup options. The brand’s tech-driven approach and efficient store construction allow it to offer coffee at prices over 20% lower than Starbucks, amplifying its appeal to a diverse customer base.

    Tian emphasizes the brand’s mission: “It’s about how we make quality coffee accessible to most people,” which resonates through its mid-range pricing strategy that sits between RM5 at convenience stores and RM11 at premium outlets.

    As Zus Coffee embarks on this ambitious expansion, the potential impact on the retail sector is significant. With increasing consumer trends toward affordability and localized flavors, Zus is poised to reshape the coffee landscape in Southeast Asia, providing fresh competition that prioritizes quality and accessibility.

  • Filipino Billionaires’ Wealth Soars by $7.6B Amid Retail Growth

    Filipino Billionaires’ Wealth Soars by $7.6B Amid Retail Growth

    In a landscape marked by resilience and growth, the wealth of Filipino billionaires has captured the attention of the retail and investment sectors alike. As these influential figures expand their businesses and adapt to emerging consumer trends, their stories exemplify the dynamic nature of the Philippine economy.

    Manuel Villar: The Visionary Behind Villar Land Holdings

    Manuel Villar, 75, reigns as the wealthiest among Filipino billionaires, with an estimated net worth of $17.2 billion as of March 7, up from $11 billion the previous year, according to Forbes. Leading Vista Land & Lifescapes, Villar’s empire includes retail chains like Vista Malls and AllHome, alongside Golden MV Holdings, which focuses on mass housing and memorial parks.

    In a significant move last September, Golden MV acquired multiple firms holding 366 hectares of prime real estate within Villar City, a visionary 3,500-hectare township south of Manila. This strategic acquisition reinforces Villar’s commitment to developing a legacy that melds community and commerce, culminating in the recent name change to Villar Land Holdings Corp., approved by shareholders in December.

    Enrique Razon Jr.: Driving Growth in Shipping and Beyond

    At the helm of International Container Terminal Services, Enrique Razon Jr., 65, is a force in the shipping industry. The company, which processed over 13 million twenty-foot equivalent units of cargo in 2024, is enhancing its global footprint through strategic investments. In 2024 alone, the firm allocated $517 million for modernization projects in ports across Mexico and Brazil, with plans to invest a record $580 million for further expansion this year.

    Razon’s diverse interests extend beyond logistics; he also holds significant stakes in the casino sector with Bloomberry Resorts and in infrastructure through Prime Infrastructure Capital, managing essential assets in energy and water. His net worth rose to $10.9 billion, reflecting a $900 million increase from last year.

    Ramon Ang: The Multinational Conglomerate Leader

    Ramon Ang, 71, stands as chairman and CEO of San Miguel Corporation, a titan in the Philippines with roots dating back to 1890. Originally a brewery, the company now boasts a vast portfolio that spans food, beverages, packaging, fuel, and infrastructure.

    In a testament to its robust market performance, San Miguel’s core net income surged 22% to PHP52.3 billion (approximately $929 million) last year, fueled by strong sales across various sectors. Ang’s wealth climbed to $3.7 billion, signaling continued confidence in the company’s growth trajectory.

    Lucio Tan: Innovating Across Industries

    Lucio Tan, 90, has marked his presence in the industry since 1982 with Asia Brewery. As founder of LT Group, he has diversified into tobacco, liquor, banking, and real estate. In 2024, LT Group reported a 12% revenue increase to PHP129 billion, bolstered by improvements across core businesses. Tan’s fortune has now reached $3 billion, a notable 20% rise from last year.

    Henry Sy Jr.: Navigating New Challenges

    As the eldest son of late billionaire Henry Sy Sr., Henry Sy Jr., 71, represents the legacy of SM Investments, the Philippines’ colossal conglomerate. From a 1958 shoe store to today’s diversified empire, which includes SM Prime Holdings and BDO Unibank, the firm reported a net profit of PHP82.6 billion last year, an increase of 7% from 2023.

    However, shares of SM Investments experienced a 15% decline in early 2024, impacting the wealth of Sy and his siblings. As of March 7, Henry Jr. has a net worth of $2.3 billion, a decrease from $2.5 billion last year.

    Looking Ahead: The Retail Sector’s Vibrant Future

    The upward trajectories and diverse investments of these prominent figures showcase not just their individual successes but also the evolving landscape of the Philippine retail and real estate sectors. As these billionaires continue to expand their empires, the potential impacts on consumer trends and market dynamics remain significant, suggesting a promising future for both investors and consumers alike.

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  • McDonald’s renews 20-year franchise deal in the Philippines

    McDonald’s renews 20-year franchise deal in the Philippines

    McDonald’s has renewed its 20-year master franchise agreement in the Philippines, extending its partnership with Golden Arches Development Corporation (GADC) until 2045.

    Under the new agreement, the company retains exclusive rights to own, develop, operate and sub-franchise McDonald’s restaurants nationwide.

    GADC, led by founder and chairman George Yang, has operated the fast food giant’s Philippine business since opening the first McDonald’s store in 1981.

    The chain operates 792 stores in the Philippines, with the majority in the National Capital Region.

    Reflecting on the franchise’s early days, Yang recalled applying for the rights in the late 1970s.

    “I confidently said 10 stores,” he continued. “This year, we’ll be opening our 800th store.”

    McDonald’s Philippines has introduced several firsts to the local quick-service restaurant sector. It was the first in the country to launch an online delivery platform in 2009, followed by the McDelivery app in 2014.

    The brand was also an early adopter of third-party delivery aggregators such as Grab and Foodpanda, where it is now one of the largest merchants.

    Last year, McDelivery accounted for 19 per cent of the company’s total sales.

    Kenneth Yang, GADC president and CEO, said digital transformation has played a key role in McDonald’s growth in the market.

    “These platforms have helped scale the business and improved how we operate,” he said.

    “We are not stopping here. Our teams constantly work on new opportunities driven by evolving customer preferences and behaviours.”

    GADC is 51 percent owned by the Yang family, with the remaining 49 percent held by Alliance Global Group Inc, chaired by tycoon Andrew Tan.

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  • United Airlines expands Asia network with new flights to Vietnam, Thailand, Philippines

    United Airlines expands Asia network with new flights to Vietnam, Thailand, Philippines

    The United Airlines plans to add daily flights to Vietnam and Thailand in October, further expanding the network for the U.S.-based carrier that already has the most Asia service, reported CNBC.

    In the expansion, its airplanes from Los Angeles and San Francisco that are headed for Hong Kong will then go on to the two new destinations: Thailand’s Bangkok and Vietnam’s Ho Chi Minh City, with service set to begin on Oct. 26.

    On Oct. 25, United Airlines plans to add a second daily nonstop flight from San Francisco to Manila, the Philippines, and on Dec. 11, it will launch nonstops from San Francisco to Adelaide, Australia, which will operate three days a week.

    The news site noted that the carrier has been adding far-flung destinations not served by rivals to its routes, like Nuuk, Greenland, and Bilbao, Spain, which will start later this year. Getting the mix right is especially important as carriers seek to grow their lucrative loyalty programs and need attractive destinations to keep customers spending.

  • PLDT Strengthens Digital Growth with Data Center Expansion

    PLDT Strengthens Digital Growth with Data Center Expansion

    PLDT Chief Operating Officer, Menardo Butch G. Jimenez, emphasized the increasing potential of tech-focused telcos in the region’s changing digital landscape. He mentioned, “We have already built 10 data centers and are finishing our 11th and biggest facility, which shows how strongly we believe that data centers are an important part of PLDT’s revenue growth.” He also said that PLDT has experienced strong growth rates in its data center business over the past five years.

    Through its subsidiary, ePLDT, PLDT has become a leader in the Philippines data center industry. The company operates a network of VITRO data centers, providing solutions for customers’ increasing IT outsourcing needs. The VITRO Sta. Rosa Data Center, the largest and most advanced in the country, is positioned to be the Philippines’ artificial intelligence (AI) hub, forming the first AI ecosystem in the nation.

    Jimenez also highlighted that data sovereignty laws represent a significant upcoming development, noting that localized data storage regulations enforced by the government will drive the demand for domestic data centers. Looking forward, PLDT is preparing for an AI-powered future by offering GPU-as-a-Service (GPUaaS) to meet the growing need for high-performance computing (HPC) due to AI and machine learning (ML) adoption.

    Through investments in data centers, AI infrastructure, and green energy, PLDT is solidifying its position as a leader in digital transformation and shaping the future of the telecommunications industry.

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  • Jollibee Foods targets 10,000 global restaurants this year

    Jollibee Foods targets 10,000 global restaurants this year

    The Philippines-headquartered restaurant group Jollibee Foods plans to have 10,000 eateries globally this year, with a focus on North America.

    The company, known for its fried chicken Jollibee chain, eyes to invest PHP18-21 billion (US$312-364 million) to open up to 800 new stores this year.

    Last year it had 9,766 outlets.

    “We’re not in all 50 states [in the U.S.]. We’re in only maybe 15 states,” Richard Shin, the company’s chief financial and risk officer, told reporters on Tuesday, as reported by Nikkei Asia.

    Jollibee launched its first U.S. location in California in 1998, and expanded its presence in the country and Canada to 103 by the end of last year. It also has 266 stores under other brands in North America.

    The company plans to use the franchising model to launch more regional stores.

    In 2024, Jollibee’s net profit rose 17.7% to PHP10.3 billion, driven by double-digit revenue growth from new stores and acquisitions. The company forecasts 8% to 12% growth in system-wide sales for 2025 – covering both company-owned and franchised locations – and targets up to 8% growth in its store network.

    Jollibee has also pursued an aggressive acquisition strategy, recently purchasing South Korea’s Compose Coffee, fully acquiring Hong Kong’s Tim Ho Wan, and adding Taiwan’s Moon Moon to its portfolio.

    It also holds stakes in China’s Yonghe King and U.S. brands Smashburger and The Coffee Bean & Tea Leaf.

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  • Dickey’s Barbecue Pit debuts in Manila

    Dickey’s Barbecue Pit debuts in Manila

    has opened its first location in the Philippines at Manila’s Parqal Mall.

    The two-story restaurant seats 90 guests and features a full bar and table service, blending Texas-style barbecue with Filipino flavours.

    The menu includes Dickey’s signature slow-smoked brisket, ribs, sausage, and locally inspired dishes such as pork belly, rice, and regional appetisers.

    Beyond Manila, the American barbecue chain is eyeing further expansion, with a second location planned for Clark, a former US Air Force base.

    “This is more than barbecue – it’s about sharing Texas culture and creating a gathering place for families and friends,” said Laura Rea Dickey, CEO of Dickey’s Barbecue Pit.

    “Barbecue is about bringing people together,” added the CEO. “We’re proud to share a true taste of Texas with the world – and Manila is just the start of something even bigger.”

    The Manila opening is part of Dickey’s broader expansion in Southeast Asia, following recent launches in Singapore, Japan, and Pakistan. Additional locations in Metro Manila are also in the pipeline.

    Since its launch in 1941, Dickey’s Barbecue Pit has expanded to more than 866 locations across the US and globally.

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  • Jollibee posts double-digit growth, boosted by coffee and tea brands

    Jollibee posts double-digit growth, boosted by coffee and tea brands

    Jollibee Foods Corporation (JFC) posted strong double-digit growth in 2024, with its coffee and tea brands playing a key role in driving revenue and profits.

    The company’s revenue rose 10.6 percent year-on-year (YoY) to US$4.7 billion, while EBITDA (earnings before interest, taxes, depreciation, and amortisation) increased 17 percent to $295 million.

    JFC’s system-wide sales (SWS) climbed 13 percent YoY to $6.8 billion, supported by a 14 percent increase in the Jollibee brand.

    The Philippine market saw an 11.4 percent rise in SWS, with same-store sales growth (SSSG) of 7.9 percent. Internationally, Jollibee recorded 22 percent growth, led by Vietnam (16.8 percent), EMEA excluding Vietnam (11.6 percent), North America (8.1 percent), and China (13.2 percent).

    “The sustained growth of our business reflects the global strength of the Jollibee brand,” said Jollibee Group CEO Ernesto Tanmantiong

    “We also made significant progress in our coffee and tea segment, particularly with the acquisition of Compose Coffee, which expanded our store network to more than 5000 locations, 78 percent of which are franchised.”

    Meanwhile, JFC’s international SWS grew 17.6 percent, primarily driven by its coffee and tea brands.

    The Coffee Bean & Tea Leaf (CBTL) saw a 16 percent increase in sales, Highlands Coffee grew by 13 percent, and Compose Coffee—acquired in August last year—contributed 7.9 percent to international growth. Meanwhile, EMEA-based Philippine brands grew by 27 percent.

    Despite overall strong results, CFO Richard Shin said the company faced challenges in its China business, which declined 8.3 percent due to economic headwinds affecting consumer spending.

    “While same-store sales growth turned positive in the fourth quarter, we still need to strengthen daily sales and profitability in this segment,” he said.

    “Our focus remains on long-term growth and creating value for shareholders.”

    Looking ahead, JFC aims to accelerate its coffee and tea expansion, with plans to open 700 to 800 new stores this year.

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  • Jollibee secures approval to lift foreign ownership limit

    Jollibee secures approval to lift foreign ownership limit

    F&B giant Jollibee Foods Corporation (JFC) has received approval from the Philippine Stock Exchange (PSE) to remove its 40 percent foreign ownership limit.

    The decision follows the company’s amendment request to its articles of incorporation, which also includes removing its ability to own, acquire, mortgage, pledge, or encumber land.

    Article 12 of the Philippine Constitution restricts foreign ownership of land and certain businesses to 40 per cent, with the remaining 60 per cent reserved for Filipino citizens or corporations.

    Following the change, JFC is now positioned to accommodate more foreign investors.

    AP Securities research analyst Jose Cipres said the move allows the company to raise additional capital for expansion through a sale-leaseback transaction.

    “They could use the proceeds from the sale of land to expand their current store portfolio, translating to higher earnings,” explained Cipres.

    Meanwhile, Unicapital equity research analyst Jeri Alfonso said removing the foreign ownership limit is a good catalyst for JFC.

    “Given this current market condition, this will provide a big boost to the company in terms of trading volume,” Alfonso added.

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  • Philippines arrests 100 suspects in online scam farm raid

    Philippines arrests 100 suspects in online scam farm raid

    Philippine authorities arrested around 100 people on Friday in a raid on a suspected online scam farm in Manila they said extorted victims.

    The raid in the Makati financial district was part of a crackdown against online crime operators that often act under the guise of gaming firms.

    Agents from the Presidential Anti-Organized Crime Commission (PAOCC) and the National Bureau of Investigation, armed with assault rifles, surrounded two offices of a lending agency and arrested the suspects as they worked side-by-side at computers.

    The suspects, many of them young Filipinos, allegedly sought out victims via TikTok and other social media, offering collateral-free loans of up to 25,000 pesos (US$428).

    Borrowers were charged 35% weekly interest and those who fell behind on payments were harassed, humiliated and threatened with having their personal information spread online, PAOCC director Gilberto Cruz told reporters at the scene.

    “Some of those they harassed developed mental problems, others fell into depression, and there have even been some suicide incidents that occurred because of the harassment perpetrated by these people,” Cruz said.

    The suspects could be charged with fraud and other violations under the country’s cybercrime laws, he added.

    The raided company, Wewill Tech Corp, required victims to provide personal information and family photographs, which the scammers then used for threats, according to Cruz.

    Some victims of similar scams have reported having coffins and funeral wreaths delivered to their homes, he said.

    Authorities are checking the nationality of the owners, Cruz said, adding that they had arrested Chinese suspects running similar operations in the past.

    The scam farm owners are suspected to be remnants of online gaming operators that were banned under orders of President Ferdinand Marcos last year, he said.

    “Most of their keyboard workers are Filipino” and communicated with victims in the local language, Cruz told reporters.

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  • Korean sandwich brand Eggdrop lands in the Philippines

    Korean sandwich brand Eggdrop lands in the Philippines

    Korean sandwich brand Eggdrop has opened its first store in the Philippines, located in the SM Mall of Asia.

    The brand is known for making egg sandwiches using brioche buns, organic eggs, and other fresh ingredients. Some of its signature offerings are Garlic Bacon Cheese, Avo Holic, and Mr Egg.

    Eggdrop said to maintain its standards; the company uses a local supply chain to guarantee freshness while supporting Filipino farmers.

    Stuart Wong, head of Eggdrop Philippines, said he was inspired by seeing Eggdrop in the Korean drama Hospital Playlist.

    “It made me want to share this experience with Filipinos,” he added.

    “The joy of taking that first bite of an Eggdrop sandwich is unforgettable.”

    The company plans to open a second store in Bonifacio Global City (BGC) early this year to advance its expansion across Asia.

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  • PLDT, Smart Lead National Drive to Protect Telecom Infrastructure

    PLDT, Smart Lead National Drive to Protect Telecom Infrastructure

    In partnership with public and private stakeholders, including local government units and communities, the companies aim to ensure reliable connectivity and uninterrupted service across the nation.

    “Protecting our infrastructure is not just about safeguarding our business operations; it is about ensuring that our customers and communities can rely on uninterrupted connectivity and technology that are essential for our country’s development within a safe and secure cyber environment,” said Atty. Roy Ibay, Vice President and Head of Regulatory at Smart and convenor of PROTECTA Pilipinas, a public-private partnership dedicated to safeguarding technology and telecommunications infrastructure nationwide.

    PLDT, Smart, and the Cybercrime Investigation and Coordinating Center (CICC) spearheaded the launch of a coalition focused on telecommunications infrastructure protection. The launch brought together key stakeholders, including the Philippine Chamber of Telecommunication Operators; advocacy group, CITIZENWATCH Philippines; think-tank, Infrawatch PH; the PNP Anti-Cybercrime Group; the Federation of International Cable TV Association of the Philippines (FICTAP); and the Manila Electric Co. (Meralco).

    In collaboration with the Metropolitan Manila Development Authority (MMDA), PLDT has taken proactive measures to protect fiber optic cables from accidental damage during roadworks, particularly during excavation and digging activities.

    Beyond partnerships with government agencies and industry players, PLDT Group has been encouraging its customers and communities to report illegal activities such as cable theft, breakage, and related incidents to local authorities.

    These initiatives reflect PLDT and Smart’s commitment to enhancing telecommunications infrastructure protection, improving customer experience nationwide, and supporting the United Nations (UN) Sustainable Development Goal (SDG) 9, which focuses on industry, innovation, and infrastructure.

    These efforts also align with the government’s push for digital transformation, which aims to bridge the digital divide and ensure internet access for more Filipinos across the nation.

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