JOLLIBEE VIETNAM CO. LTD.

JOLLIBEE VIETNAM CO. LTD. (CÔNG TY TNHH JOLLIBEE VIỆT NAM) has been active in Vietnam for more than 17 years, steadily expanding its nationwide restaurant network under the globally recognized Jollibee brand. The company operates from its head office on the 26th floor of CII Tower in Ho Chi Minh City and manages multiple branches across provinces, including An Giang, Long An, and Tien Giang. Its legal structure is a one-member LLC with foreign investment, backed fully by Jollibee International (BVI) Ltd.

Leadership and Governance

The company is overseen by Chairman Ernesto Tanmantiong and Director Flores Dennis, both foreign executives who continue to steer Jollibee’s strategy in Vietnam’s increasingly competitive fast-food sector. With more than 5,000 employees, Jollibee remains one of the largest international F&B employers in the country.

Financial Highlights and Red Flags

The 2023 financial year presents mixed results. Sales climbed to USD 94.7 million, up 22 percent, reflecting strong customer traction and a rebound in consumer spending. Total assets also rose sharply to USD 43.96 million, a nearly 29 percent increase.

However, deeper financial signals warrant careful attention. Net profit slipped by 9.57 percent, and working capital remains negative at USD -15.42 million, highlighting liquidity pressure. The report also notes illogical records in the section on cash and cash equivalents for 2022 and 2023, and staff declined to clarify these figures. This raises transparency concerns that risk managers and partners should not overlook.

Why Investors Should Look Closer

Despite strong brand power and aggressive expansion, the combination of negative working capital, historically inconsistent equity levels, and unexplained cash reporting discrepancies calls for further diligence. For banks, suppliers, and landlords, reviewing the full VNBIS comprehensive report is essential to assess the company’s operational resilience and its proper financial stability before entering large-scale commercial agreements.