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Jollibee launches 1st store in Malaysia

Philippines-based fast-food chain Jollibee Foods Corp. has opened its first store in Malaysia, the New Straits Times reported Dec. 15.

The new Jollibee outlet in the city of Kota Kinabalu reportedly follows recent openings in London and New York.

The company's entry into Malaysia is in line with a 12 billion Philippine peso spending plan, of which up to 7 billion pesos will go toward opening 500 stores in new markets including Canada and the U.K.

Jollibee operates more than 4,300 stores across 21 countries through its 14 brands, the report said.

As of Dec. 14, US$1 was equivalent to 53.08 Philippine pesos.