Max's told the stock exchange that it signed a development agreement with Singapore's Pagh Pte. Ltd. for the venture. It did not say when the Yellow Cab restaurants would open.
"Max's is very confident that their brand is strong enough to be exported outside the Philippines," BPI Trade analyst Richie Lim told ANC's Market Edge with Cathy Yang.
Unlike rival Jollibee, which targets Filipino communities abroad, Max's is aiming for the mainstream market with its Yellow Cab brand, Lim said.
Yellow Cab serves huge slices of New York-style pizzas in its American diner-style restaurants with black and white tiles and metal furnishings.
Last week, Max's announced that Yellow Cab would open at least 10 stores in China's Hunan province in the next five years.
Max's said it has signed four overseas expansion deals this year, which would translate to 116 international stores "over the next few years." The group targets 200 overseas outlets by 2020.
Aside from Max's fried chicken restaurant, the group also operates casual dining chains Dencio's and Pancake House. It also holds the local franchise for Krispy Kreme donuts.
source: www.abs-cbnnews.com
