Jollibee is increasing its stake to subsidiary in China, Tim Ho Wan. It is increasing its stake from 85% and will takeover with the remaining 15%. Its wholly-owned subsidiary Jollibee Worldwide Pte. Ltd. (JWPL), which already owns an 85% participating interest in the fund shall pay SGD71.56 million to purchase the remaining 15% interests of other investors in Titan Dining LP (“Titan”), the private equity fund which ultimately owns the Tim Ho Wan brand and company-owned THW stores.

According to its disclosure;

“Jollibee FC invested SGD45 million in Titan in May 2018 to own a 45% participating interest in Titan Dining which was the master franchisee of Tim Ho Wan in the Asia Pacific region. JFC stated at that time that by investing in the fund, it would have the opportunity to acquire a substantial ownership of Tim Ho Wan’s master franchise in the Asia Pacific region through a purchase mechanism provided for in the investment agreement. To prepare for this eventuality, JFC would open a franchise operation of Tim Ho Wan in Shanghai, People’s Republic of China (PRC).”

Jollibee has since expanded its stake on its partner since2019-2020

“In October 2019, JFC disclosed that JWPL’s capital commitment to Titan increased from SGD45 million to SGD120 million, its participating interest increased to 60% and the fund size of Titan increased from SGD100 million to SGD200 million. Titan Dining also expanded its assets by acquiring at about this time the Tim Ho Wan brand and trademarks.”

“In October 2020, JFC’s participating interest in the Titan fund increased further from 60% to 85% after JWPL purchased the 25% participating interest of another investor in the fund for a total consideration of SGD36.3 million.”

“In September 2020, Jollibee JFC through a joint venture with Titan Dining opened a Tim Ho Wan restaurant in Shanghai, the first THW outlet in Mainland China. The joint venture now has three THW outlets in Shanghai with the latest opened only in July, 2021. JFC plans to aggressively expand Tim Ho Wan in Mainland China with a target of reaching 100 restaurant outlets within the next four years.”

Tim Ho Wan operates a total of 53 outlets in Asia, mostly franchised stores with the largest concentration in Singapore (12), Taiwan (12), Philippines (7) and Hong Kong (6).

Share price Jollibee close at 191.60

Net foreign buying is at 500M, a big difference from the previous days

ACEN just released a disclosure that its 210 MW India Solar Farm started operations today.

This joint venture is between ACEN and UPC Solar Asia Pacific also known as UPC-AC Energy Solar that its two solar farms in India the 140 MWp (100 MWac) Sitara Solar and 70 MWp (50 MWac) Paryapt Solar started its operations

The price action of ACEN stayed above 9 pesos and closed at the 8.95 pesos support level for the second day.

It also stated I its disclosure

“In July 2020, UPC-AC Energy Solar announced the commencement of construction of Sitara Solar located in the Jodhpur District of the State of Rajasthan, a desert state with the highest irradiation in India, that will supply energy to the Solar Energy Corporation of India. This was followed closely by the start of construction of Paryapt Solar, a solar farm set in the Amreli District of the State of Gujarat, one of the first states to develop solar generation capacity in the country”

“The development of the solar facilities involved an investment of around US$100 million. With an aggregate capacity of 210 MWp, the solar farms are comprised of more than 466,000 solar panels which are capable to produce around 358 GWh annually, or an estimated 323,990 metric tonnes of CO2e avoided”

ACEN closed with a net foreign buying of 98Million. Foreigners still accumulating on the company after its news of inclusion in the PSE market. You can check the link Blue chip Index link to view the other companies included here