Pinoy Biztalk and Jobs: October 2010

Oct 29, 2010

Jollibee buys another China noodle chain

By Zinnia B. Dela Peña (The Philippine Star)
Updated October 28, 2010 12:00 AM Comments (0)

MANILA, Philippines – Local fastfood giant Jollibee Foods Corp. has sealed a deal to acquire a majority stake, or 55 percent, in San Pin Wang, a beef noodle chain in China, for RMB 30 million or P195 million.

Jollibee said the transaction was pursuant to the agreement entered into by wholly-owned unit Jollibee Worldwide Pte. Ltd. and Guangxi Zong Kai Food and Beverage Investment Co. Ltd. on April 30, 2010.

The remaining 45 percent of San Pin Wang, which operates a chain of 34 low-priced beef noodle restaurants mostly in Nanning City in Guang Xi Province in South China, will still be owned by GZKFB.

The agreement also calls for both Jollibee Worldwide and GZKFB to infuse an additional RMB 20 million or P125 million in San Pin Wang to fund the beef restaurant chain’s expansion.

The joint venture, which will allow the Philippine-based company to penetrate South China, is expected to be operational within the first quarter of 2011, JFC said in a disclosure to the Philippine Stock Exchange (PSE).

JFC currently operates two brands in the People’s Republic of China – Yonghe King in Shanghai which was acquired in 2004 and Hong Zhuang Yuan in Beijing. Hong Zhuang Yuan was bought in 2008.

As of the end of September 2010, the two businesses combined had a total of 236 stores and in the third quarter, accounted for 12 percent of the Jollibee Group’s worldwide system sales, a measure of all sales to consumers, both from company-owned and franchised stores.

http://www.philstar.com/Article.aspx?articleId=624747&publicationSubCategoryId=66
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Jollibee named Most Trusted Brand by Reader’s Digest Asia

Jollibee PR Manager Arline Adeva, Senior Marketing Manager Joel Villamayor, and PR Officer Dennis Reyes hold up the Reader’s Digest Most Trusted Brand Gold Award.

http://www.bworldonline.com/main/content.php?id=13443

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Jollibee seals purchase of stake in Chinese chain

by Jenniffer B. Austria -Thursday, October 28, 2010

Fastfood giant Jollibee Foods Corp. has finalized its acquisition of a 55-percent interest in Chinese beef noodle restaurant for RMB 30 million ($4.4 million).

Jollibee said in a disclosure to the stock exchange that wholly-owned subsidiary Jollibee Worldwide Pte. Ltd. signed a share purchase agreement with Guangxu Zong Kai Food Beverage Investment Co. Ltd. to buy 55 percent of San Pin Wang beef noodle resturant.

Guangxi Zong will keep 45 percent of San Pin Wang, its fastfood chain serving low-priced beef noodles.

Jollibee group and Guangxi Zong also agreed to put in additional investments of RMB 20 million on fastfood chain in anticipation of expansion.

The joint venture is expected to be operational within the first quarter of 2011.

San Pin Wang, which earlier projected annual sales of RMB 100 million in 2010, is profitable and has no debt, Jollibee said in an earlier statement. There are currently 34 San Pin Wang stores, located mostly in Nanning City in Guang Xi province in South China. It also operates two commissaries.

The San Pin Wang joint venture will provide Jollibee with a brand based in south China.

Jollibee operates two brands in China—Yonghe King based in Shanghai and Hong Zhuang Yuan in Beijing.

The two foreign businesses had a combined 236 stores at the end of September and accounted for 12 percent of the Jollibee group’s worldwide systemwide sales in the third quarter.

The Jollibee group operates the country’s largest food service network. It had 1,578 stores in the country as of end-September this year. It also had 375 stores abroad.

Jollibee owns Chowking, Greenwich, Red Ribbon and Manong Pepe’s chains and bought 70 percent of the Mang Inasal restaurant.

http://www.manilastandardtoday.com/insideBusiness.htm?f=2010/october/28/business3.isx&d=2010/october/28
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Oct 19, 2010

Jollibee to acquire majority of Mang Inasal

By Cheryl M. Arcibal
Fastfood heavyweight makes another acquisition; Mang Inasal founder to retain minority stake

Jollibee Foods Corp., the country's largest owner and operator of quick service restaurants, acquired the majority share of Mang Inasal, the Tony Tan Caktiong-led company announced on Monday.

In a disclosure to the Philippine Stock Exchange, JFC said its unsolicited offer to buy 70 percent of Mang Inasal Philippines, Inc. for about P3 billion has been "unconditionally and irrevocably accepted" by Injap Investments, Inc., the parent company of Mang Inasal. JFC added that Mang Inasal's acquisition will add five percent to its revenues and seven percent to its net operating income.

The remaining 30 percent will be retained by Injap. [Find out how Jollibee survived the economic crisis here]

Under the terms, JFC had to give Injap P200 million as initial payment. Ninety percent of the remaining amount or about P2.52 billion will be paid on the closing date of the transaction (30 days upon JFC's completion of due diligence), while the remaining 10 percent will be paid over a period of three years.

Besides improving its revenues and profits, Mang Inasal's acquisition, JFC added, would "also increase JFC's store network in the Philippines by 19 percent and on a worldwide basis by 16 percent." [Read about Mang Inasal and his road to success here]

As of October 18, the Mang Inasal chain has 303 stores, of which 279 are franchised and 24 are company-owned.

It is estimated that Mang Inasal annually earns P2.6 billion and registers sales of P3.8 billion.

"JFC will build shareholder value by growing the sales of Mang Inasal's existing stores through the application of JFC's knowledge of consumers and its available recipes and products, continued expansion of Mang Inasal's store network, cost improvement on its raw materials, and greater operational efficiency...," JFC said.

The company also added that it intends to maintain Mang Inasal's current personnel, subject to their meeting the group’s organizational standards. [Read about Mang Inasal's startup story here]

Pricewaterhouse Coopers- Isla Lipana & Co. and KPMG-Manabat Sanagustin & Co and Romulo Mabanta, Buenaventura Sayoc and De Los Angeles were tasked to handle the financial, tax and legal due diligence of the transaction.

As of September 30, JFC had a total of 1,578 stores in the Philippines and 375 stores abroad.

Besides Jollibee, JFC also owns Chowking, Red Ribbon, Greenwich and Manong Pepe's. In China it owns and operates Yonghe King and Hong Zhuang Yuan. JFC stores are also present in the US, Vietnam, Brunei and Indonesia.

JFC recently announced that it would be selling its stake in Delifrance.

Related Articles:

Jollibee to sell Delifrance

Greenwich to add more stores

Jollibee, Singaporean firm partner for a commissary in China

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Jollibee to acquire 70% of Mang Inasal

Jollibee Foods Corporation (JFC), the Philippines’ largest food service company, offered to acquire 70 percent of Mang Inasal Philippines, Inc. (MIPI), owner and operator of the Mang Inasal restaurant chain.

In a statement, JFC said it Injap Investments Inc., parent company of MIPI, has “unconditionally and irrevocably accepted” the offer.

JFC said its unsolicited offer included the principal terms of the share purchase agreement, which will be signed within 30 days. This would be subject to completion of JFC’s due diligence.

Once the deal is done, JFC would own 70 percent of MIPI, while the rest is owned by Injap.

JFC Chief Finance Officer and Vice President Mr. Ysmael V. Baysa said the purchase is estimated to amount to approximately P3 billion.

“Part of the consideration in the amount of P200 millions had been paid by JFC as initial payment. Thereafter, 90% of the purchase price (less than the initial payment) will be paid on closing, with the remaining 10 % paid over 3 years from closing,” the JFC statement added.

JFC’s deal with Mang Inasal is estimated to add 5 percent to its worldwide system wide sales, 5 percent to its revenues, and 7 percent to its net operating income on annual basis.

Mang Inasal, on other end, will increase JFC’s store network in the Philippines by 19 percent and 16 percent worldwide.

Mang Inasal serves grilled chicken and Filipino food.

As of October 18, 2010, the chain consists of a total of 303 stories, of which 24 are company-owned and 279 are franchised. It operates 2 commissaries.

MIPI has an estimated annual total revenues of P2.6 billion and system-wide sales of P3.8 billion.

The JFC Group of Companies currently operates a total of 1,578 stores in the country. It is also operating 375 stores abroad.
http://ph.yfittopostblog.com/2010/10/18/jollibee-to-acquire-70-of-mang-inasal/
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Oct 13, 2010

The No.1 Fastfood Chain.....

JOLLIBEE bested some of Asia Pacific's biggest multinationals as it bagged the FMCG and F & B Asia Pacific Supply Chain Excellence Award at the SCM Logistics Excellence Award held in Singapore.

http://www.jollibee.com.ph/index.php?/about_us/contents/6

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What Is The Best Franchise Aside From Jollibee?

Jollibee has been around for ages and time will be the proof that it is very profitable. All the investors and franchisee of this name has been wealthy because of it. But now, jollibee will be closing its doors for franchise. Rumor has it that the quality of jollibee franchise has been deteriorating because of poor management of franchise owners. So they decided to open the stocks for public. No franchise no more. Just stocks.

Now, if you are one of the people who wants to franchise jollibee but now problematic and looking for alternative. We recommend the list of 8 best franchises in the Philippines at Franchise Philippines.org. It is a great list to get you started and hopefully decide on what franchise to choose.

http://justjollibee.com/what-is-the-best-franchise-aside-from-jollibee/

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Oct 12, 2010

Philam Life offers

Philam Life offers a full range of life insurance products and services that cater to every financial need.

Philam Life has continued to work towards educating Filipinos on the importance of financial planning, savings and investments as a venue to improving their way of life.

here's nothing like having a clear view of your personal financial goals and having the right roadmap to take you there.

AIG-Philam Life Wealth Management has the technology, resources and business intelligence to consolidate your requirements and design a plan to help you grow your wealth, protect your assets, and transfer these as a legacy to the ones you love.

With products and plans tailored to meet the requirements of your business, your lifestyles, your needs, and your personal vision, AIG-Philam Life Wealth Management has perfected the art of leaving little doubt that your financial future will be brighter than ever.

You and your loved ones deserve nothing less.

http://www.philamplans.com/WealthManagement.html

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GUARDIAN* is a protection plan

GUARDIAN* is a protection plan that provides you and your family maximum protection at a minimum cost.

It offers you the following benefits:
Guaranteed life protection
Flexible coverage and payment periods
Increasing renewable coverage
Convertibility
Optional Accident, Disability, Hospitalization and Return of Premium Benefits

http://www.philamplans.com/Products/Protection.html#Guardian
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AXS Card Makes MRT and Pasig Ferry Rides a Breeze

As part of LoadXtreme's comeback in the market, Dealers can now sell and reload AXS Cards.

AXS Card can be used when riding MRT or Pasig Ferry. AXS Card shall also be offered to the commuters of MRT7 when it becomes operational on 2012.

http://loadxtreme.ph/new/articles/AXS-Card.html
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LoadXtreme now under New Management

VMobile Technologies Incorporated— a subsidiary of Penta Capital Group of Companies now runs LoadXtreme. The owners and management of Portal Innovations Corporation (Portal) recently signed an agreement with Penta Capital to finance the new beginning and continuity of the LoadXtreme® business operations nationwide.

Under the new management, the high technology Universal Prepaid Loading System will run under the best in financial management.
http://loadxtreme.ph/new/articles/LoadXtreme.html

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Philamlife offers brighter future

MANILA, Philippines - The Philippine American Life and General Insurance Co. (Philamlife) has introduced Bright Future Plus, its newest education and life insurance plan-in-one to help parents save for education expenses.

Bright Future Plus helps fulfill parents’ dreams by ensuring their child’s college education through guaranteed semestral benefits.

These education benefits increase every year to prepare for the increasing costs of tuition. Bright Future Plus also ensures that in case of unforeseen events, the college education benefits are still guaranteed while additional cash benefits will be provided for paying other school expenses.

Parents can choose from a number of flexible payment schemes, such as five years to pay, pay up to age 12, or pay up to age 16, which can be paid in quarterly, semi-annual or annual payment terms.

Bright Future Plus offer peso-denominated saving for education at affordable premiums. For a five-year pay plan, parents and children can enjoy fundamental education benefits of P98,000 for as low as P18,587.36 per year computed at age zero of the child.

Interested parties may call 528-2000, visit www.philamlife.com, go to the nearest Philamlife office or contact a Philamlife agent.

http://www.philstar.com/Article.aspx?articleid=596906

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Philamlife to acquire 51% of Ayala Life

Joint venture with BPI to boost operations
By Doris Dumlao
Philippine Daily Inquirer
First Posted 23:14:00 08/26/2009

Filed Under: Company Information

PHILIPPINE AMERICAN Life and General Insurance Co. (Philamlife) has entered into a deal to acquire a 51-percent stake in the Ayala Group’s life insurance business to form a formidable bancassurance venture with local banking giant Bank of the Philippine Islands.

The biggest and most profitable insurance company in the country, a crown jewel that was earlier put up for grabs by the American International Group, has turned into an acquirer of a majority stake in BPI subsidiary Ayala Life Assurance Inc. (Ayala Life).

Under an agreement announced yesterday, Ayala Life will serve as the platform for BPI and Philamlife’s strategic bancassurance partnership.

“This partnership is a direct result of our strategy to focus on the core life insurance and wealth management business. Philamlife and BPI are strong and trusted brand names in the industry. This is an exciting and positive development that will significantly increase our distribution footprint and offer a substantially wider selection of quality life insurance products to BPI’s customers,” Philamlife president and chief executive Trevor Bull said in a statement.

BPI president and CEO Aurelio Montinola III said the joint venture was fully in line with BPI’s vision to offer a full range of financial products and services to its customers.

“We believe that there are significant cross selling opportunities on both sides. We feel that in the same way that Philamlife will have access to our customer base for life insurance products, BPI will have reciprocal access to Philamlife’s customers for banking products, ” Montinola said.

BPI Capital and ING acted as financial advisers to BPI while Deutsche Bank acted as sole financial adviser to the Philamlife group for the transaction. The joint venture is subject to regulatory approvals. The value of the deal was not disclosed.The joint venture is seen benefiting from the combined synergies, high quality resources and strength of two leading companies in the Philippines’ financial industry. Philamlife is expected to bring insurance distribution, product development, and innovation to the joint venture, particularly in the area of bancassurance, while gaining exclusive access to BPI’s customer base via its extensive branch network.

With 158 years of experience in the local banking industry, BPI is the most valuable Philippine bank with P146 billion in market capitalization as of yesterday.

Copyright 2010 Philippine Daily Inquirer. All rights

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