Jollibee Foods Corporation, through the S$100-million investible funds from Titan Dining II LP (Limited Partnership), is planning to bring one of its foreign brands to Asia while further developing the group’s Chinese cuisine category.

In a media briefing, Jollibee Chief Finance Officer Richard Shin said “Titan fund is an independent fund managed in Singapore and it’s a registered fund there. It enjoys certain status as a private equity—meaning tax advantages and such, so there’s a strategic role for us as a limited partner to invest."

The first Titan Fund handles Jollibee-held franchises for Tim Ho Wan, Tiong Bahru Bakery, and Common Man Coffee Roasters. The Tim Ho Wan brand is undergoing expansion in Asia, particularly China, while the Singaporean brands have just been introduced to the Philippine market.

Shin said Titan Fund II “will bring to life in this part of the world a brand that we currently own that is not in this part of the world. That’s one of the key projects for Titan Fund II.”

JFC has four primary business categories globally: Jollibee for fried chicken, Tim Ho Wan and Yonghe King for Chinese cuisine, Coffee Bean and Tea Leaf for coffee and tea, and Smashburger for better burgers.

Currently, only Smashburger is not in Asia as it is still being expanded in its native USA while Jollibee also controls the Tostazo brand, a Mexican fast food it is trying to grow in the United States.

He explained that, while Jollibee has committed to invest S$90 million in Titan Fund II, this is just a commitment as they are still evaluating the businesses the fund will support.

“It’s very early on but it’s really in line with out commitment to continue those four pillars. Chinese cuisine is one of them and we also spoke of our four global brands. It’s really centering on focusing on what we currently have and making sure we have funds to execute that,” Shin said.

Aside from the brand to be introduced to Asia, he said “the other part of Titan Fund II will continue to fund the Chinese cuisine category although nothing has been identified under the Chinese cuisine category. There is no specific brand that has been identified.”

Meanwhile, Shin said they continue to grow their business in China through Yonghe King as they now are targeting to expand their footprint into second-, third-, fourth-tier cities noting that the brand is enjoying good patronage in China because it is quite affordable and offers good value.

The Jollibee Group is aiming to triple its attributable net income to over P26 billion in five years or by 2028 as it aggressively expands its four primary brands globally.

In ling with this, the group ha allotted capital expenditures of P20 billion to P23 billion as it targets to open 700 to 750 new stores, both company-owned and franchised, this year.