📋 Tender Overview
Jollibee Foods Corp the largest Philippine restaurant operator is looking toward foreign expansion and opportunities created by Covid-19 as it rebounds after historic losses induced by the pandemic.After a restructure amid last years setback Jollibee CEO Ernesto Tanmantiong plans to open 450 restaurants around the world this year while looking for acquisitions that could be funded with the companys 57.5 billion pesos S1.62 billion in cash and short-term investments.Mr Tanmantiong still hopes to achieve a long-term goal of turning the Manila-based company into one of the worlds top five restaurant operators. Jollibee posted a 11.5 billion peso net loss last year - its first annual loss in at least three decades - as dining out was hammered by the virus.There are opportunities coming out of the pandemic Mr Tanmantiong said in a Bloomberg interview. We are constantly assessing these opportunities.
