Berjaya PHL invests in Malaysian restaurant operator

BERJAYA PHILIPPINES, Inc. said it has invested in a company that operates the Starbucks and Kenny Rogers Roasters brands in Malaysia.

In a disclosure posted Monday, Berjaya Philippines said it purchased 1.5 million shares in Berjaya Food Berhad (BFood), equivalent to 0.4% of the company’s total outstanding shares.

The shares were priced at 1.58 Malaysian ringgit ( P21) apiece for a total of 2.37 million Malaysian ringgit ( around P31.5 million). The shares were purchased from the open market of Bursa Malaysia Securities Berhad. Berjaya said it used internal foods to fund the transaction.

Incorporated in 2009, BFood develops and operates the chain of Kenny Rogers Roasters restaurants in Malaysia. It also owns 100% of Berjaya Starbucks Coffee Company Sdn Bhd., which operates over 200 stores under the Starbucks brand in the country. BFood also owns 100% of Jollibean Foods Pte Ltd., operating 25 Jollibean stores and eight Sushi Deli outlets, according to its Web site.

Prior to BFood, Berjaya Philippines has also invested in the Malaysian licensee of the chain of 7- Eleven convenience stores in July 2017. The company said it has acquired a 0.49% stake in 7-Eleven Malaysia Holdings Berhad (SEM) for P87.16 million. SEM has over 2,100 7- Eleven convenience stores in Malaysia.

Incorporated in 1924 originally as Central Azucarera de Pilar, Berjaya Philippines has since changed its name and core investments, as it is now engaged in the distribution of Mazda motor vehicles with its 25.48% stake in Berjaya Auto Philippines, Inc.

Other than motor vehicle distribution, Berjaya Philippines also leases online lottery equipment to the stateowned Philippine Charity Sweepstakes Office in Luzon through wholly- owned unit Philippine Gaming Management Corp.

Berjaya Philippines booked a net income attributable to the parent of P129.2 million in the quarter ending October 2017, 337% higher than the P29.5 million it recorded in the same period a year ago. This comes amid flattish revenues during the period at P6.99 billion.

Shares in Berjaya Philippines rose by two centavos or 0.41% to end at P4.89 each at the Philippine Stock Exchange on Monday. —