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Old August 19th, 2018, 06:06 AM   #41
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Coke FEMSA exits Philippines
Louella Desiderio (The Philippine Star) - August 18, 2018 - 12:00am

Quote:
MANILA, Philippines — The Atlanta-based The Coca-Cola Co. is again taking over full control of its Philippine unit after Mexican bottling giant Coca-Cola FEMSA agreed to sell back its 51 percent stake in Coca-Cola Philippines.

In a statement yesterday, TCCC said its Bottling Investments Group (BIG) will take over bottling operations in the Philippines after Coca-Cola FEMSA’s board voted to exercise the option to sell its 51 percent stake in Coca-Cola Philippines back to TCCC.

xxx

Earlier, Coca-Cola FEMSA said it was laying off some employees as the higher excise taxes slapped on sugar beverages under the government’s new tax law took a toll on operations.

Also, the unstable local sugar supply has prompted Coca-Cola FEMSA to pull out its stake in the Philippine unit of the beverage giant, Agriculture Secretary Emmanuel Piñol said.

xxx

From the perspective of financial analysts, the exit of Coca-Cola FEMSA is not positive for the economy as it gives off a bad signal.

“I hope it will not be big but it does give a bad signal,” said Justino Calaycay of Philstocks Financials.

He cited the challenging domestic environment that includes higher taxes on sugar

“This is something we must really be concerned about. That we must, our government, get its act together and set a clear road, policy wise for all stakeholders,” he added.

An analyst from a foreign bank echoed the same thing. He said that it seems the government was unable to foresee the impact of higher taxes on businesses but only on consumers. With Louise Maureen Simeon and Iris Gonzales.
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Old August 23rd, 2018, 08:58 AM   #42
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Nikkei Asian Review did a write up on Jollibee's international expansion:


Can Jollibee take a bite out of the global fast-food market? - Nikkei Asian Review

Cliff Venzon | 22 August 2018

Quote:
But Smashburger is only a part of Tan Caktiong's grand ambitions for the company he founded in the 1970s. He wants Jollibee to become one of the five largest quick-service restaurants in the world -- within five years.

Jollibee's sales from its 13 restaurant brands and over 3,000 outlets worldwide rose 15.2% to $3.4 billion last year. Euromonitor ranked it as the 16th largest in the world by sales, excluding convenience stores that also sell cooked meals. It needs to eclipse the $11.2 billion sales of Dunkin' Brands Group to hit its goal of breaking into the fifth spot.

"Since the start of Jollibee Foods 40 years ago, I have always dreamed it to be the largest food company in the world," Tan Caktiong said in a press statement on June 29 at the company's annual shareholder meeting.

The game plan is to keep growing in the Philippines, where around 300 new stores are to be opened every year, and ramp up expansion in the U.S. and China to bring the share of foreign sales to half of the total, from the current 30%. A $1 billion war chest for acquisitions -- built from internally generated cash and loans -- has been earmarked to accelerate growth.

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Old August 27th, 2018, 03:56 AM   #43
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I found their gravy a bit bland and watery. Their mashed potatoes is also water, kinda like a thick soup. I'm a mashed potato and gravy person. However, their chicken is the best.
Try wendy's, fried chicken there is so much better and with bigger pieces
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Old August 27th, 2018, 11:45 AM   #44
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All of my American friends who visited the Philippines loved Chicken Joy.
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Old August 27th, 2018, 03:28 PM   #45
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Try wendy's, fried chicken there is so much better and with bigger pieces
Jollibee is all dark meat.
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Old September 6th, 2018, 04:31 AM   #46
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Nestle threatens to close Philippine plant unless taxes cut - Nikkei Asian Review
Cliff Venzon | 5 September 2018

Quote:
Nestle said it could shut down its coffee processing plant in the Philippines unless it receives tax incentives from the government.

The Swiss food multinational, which makes the popular Nescafe 3-in-1 coffee milk and sugar mix locally, said it has taken a hit from rising costs and tighter sugar supplies in the domestic market.

To protect Philippine sugar growers, the government prohibits beverage makers from importing sugar. This puts Nestle at a disadvantage compared with rivals such as Indonesia's PT Mayora Indah, maker of Kopiko brand products. Nestle was pushing for an exemption from the country's 12% value-added tax as compensation.

Regarding the proposed tax reforms currently debated among lawmakers, Nestle hopes they "address the disadvantage of local manufacturers, which use local agriculture products, against those importing finished goods," especially from Southeast Asia, according to Ernesto Mascenon, senior vice president and head of corporate affairs at Nestle's Philippine unit, who was quoted in local media reports on Sept. 4.

"Otherwise the option for us is we will close down our manufacturing here and just move to Indonesia, or Vietnam, Malaysia, [and] import," Mascenon said.

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Old September 7th, 2018, 03:57 AM   #47
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Jollibee is all dark meat.
Brown meat because it's Pinoy.
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Old September 7th, 2018, 04:01 PM   #48
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Looks like Nestle blinked:

Nestle backtracks on threat to close Philippine coffee plant - Nikkei Asian Review
Cliff Venzon | 7 September 2018

Quote:
A public backlash forced Nestle on Friday to retreat from its threat to close a Philippine factory unless it received tax incentives for sourcing raw materials locally.

"Nestle Philippines is not planning to close any of its manufacturing facilities in the Philippines," the company said in a statement. "We have been operating in the Philippines for 107 years now, and we look forward to doing business here in the next 100 years."

Today's climbdown came after a senior Nestle executive was quoted as saying earlier this week that the group hoped proposed tax reforms would "address the disadvantage of local manufacturers, which use local agriculture products, against those importing finished [goods]."

Ernesto Mascenon, a Nestle senior vice president in the Philippines, had warned that in the absence of acceptable tax reform, Nestle's option was to "close down our manufacturing here and just move to Indonesia, or Vietnam, Malaysia, [and] import."

The comments, reported by the Nikkei Asian Review and local newspapers, drew national attention and sparked a flurry of comments on social media.

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Old September 7th, 2018, 04:29 PM   #49
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For now

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Originally Posted by Skyblade View Post


Nestle PH
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Old September 7th, 2018, 05:20 PM   #50
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if they announce early they'll be leaving, Filipinos will also be more than happy to shift to other brands. local competitors will also be more than happy to fill the void, if anything they'll thank Nestle for the heads up.
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Old September 7th, 2018, 10:28 PM   #51
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if they announce early they'll be leaving, Filipinos will also be more than happy to shift to other brands. local competitors will also be more than happy to fill the void, if anything they'll thank Nestle for the heads up.
They wont stop Philippine operations but they will import from Indonesia or SE countries but not China.

There is already impending resolution by Pres. Economic Managers to allow direct users to Import Sugar.
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Old September 9th, 2018, 04:23 AM   #52
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This is one of the disadvantages when it comes to working for a multinational. You can perform well and you get better perks but your tenure is subject to the business decisions of overseas management, and from what I have seen overseas management are more trigger-happy when it comes to lay-offs than local employers.

It's very easy for a multinational to simply close operations in the country and move to another country.
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Old September 10th, 2018, 04:56 AM   #53
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Jollibee enters into Mexican restaurant business in US - Philippine Star
7 September 2018

Quote:
Jollibee Foods Corp. on Friday announced it is investing $12.4 million in Mexican restaurant Tortas Frontera in the United States, as the homegrown fast-food giant expands its global presence.

The company behind the hugely popular sweet-style spaghetti and “chickenjoy” told the Philippine Stock Exchange it has entered into a business venture with award-winning chef Rick Bayless to build a Mexican fast-casual restaurant business in the US through its wholly-owned subsidiary Jollibee Foods Corporation (USA).

Under the transaction, JFC will invest for 47 percent of the fully-diluted membership interests in Tortas Frontera LLC, which owns the Tortas Frontera business founded by Bayless.

Bayless will hold the remaining 53 percent membership interests in Tortas Frontera.

“We at Jollibee Foods Corporation are very excited about this new partnership. We have great admiration for Chef Rick Bayless for being a top chef, for being a successful restaurateur and for his philanthropic endeavours,” JFC Chairman Tony Tan Caktiong said in a statement.

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Old September 12th, 2018, 05:05 AM   #54
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Read in PhilStar business yesterday that Dennis Uy has bought 70% of Contis Holdings Corporation. Remaining 30% will still belong to the Conti family.

Sana lang wag magbago taste and texture of my favorite Mango Bravo.
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Old September 13th, 2018, 04:59 AM   #55
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San Miguel says confident investors will buy stake in food unit - Reuters
12 September 2018
Quote:
San Miguel Corp said on Wednesday it was confident of attracting investors to buy up to a $2.7 billion stake in its food and beverage unit, the Philippines’ biggest secondary share offering.

The sale of up to 1.02 billion shares in San Miguel Food and Beverage Inc is part of the parent firm’s asset restructuring plan announced last year.

The feedback from investor roadshows in Asia, Europe and the United States has been positive, San Miguel Corp President Ramon Ang said after the subsidiary’s shareholder meeting in Manila.

“Investors want a stable company with stable cash flow, with big market shares in the food and beverage category,” Ang told reporters.

“We are confident we can place out the shares” despite recent volatility in the Philippines’ equities market, he added.

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Old September 15th, 2018, 08:57 PM   #56
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Why can't oligarchs invest in rice production?
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Old September 16th, 2018, 11:16 AM   #57
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1. A single typhoon can wipe out a year's profits;
2. Agrarian reform;
3. Human labor intensive.

If you have P1B to invest, it's wiser to invest it elsewhere.
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Old September 16th, 2018, 12:51 PM   #58
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The last sentence in the article sums up the reason - fund raising for investments. Did not specify what kind of investment.

Is he planning to build new factories? It says the Food and Beverage business is profitable. Can it not generate enough cash for the company to invest?

Saan nya gagamitin ang pera?
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Old September 16th, 2018, 03:08 PM   #59
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Jollibee is coming to Earl’s Court in London... when the Thais, Malaysians, Indonesians are buying and developing and carving up the Prime Real Estates of Central London - Philippines is opening a franchise... most loved Bee will be landing in London in Autumn...
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Old September 16th, 2018, 09:03 PM   #60
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Why can't oligarchs invest in rice production?
oligarchs loooove to import. Even Filipino brand products like Universal Robina's are already imported from Vietnam.
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