Forest City SFZ Highlights Early JS-SEZ Traction as Investment Pipeline Expands

Singapore-based companies have committed more than S$5.5 billion in Johor since the JS-SEZ memorandum of understanding, while IMFC-J reported 1,000 enquiries linked to RM73 billion in potential investment in March 2026.

JOHOR, MALAYSIA - Media OutReach Newswire - 2 July 2026 - Forest City Special Financial Zone (Forest City SFZ) today issued a progress update on the Johor-Singapore Special Economic Zone (JS-SEZ), pointing to early implementation milestones in investment facilitation, financial-services incentives and cross-border connectivity.

The JS-SEZ agreement, signed on 7 January 2025, covers approximately 3,588 square kilometres across southern Johor. It comprises nine flagship areas and targets investment in 11 sectors, including manufacturing, logistics, financial services, the digital economy, tourism, education, healthcare and the green economy. Forest City is the designated financial-services flagship within the framework.

"The JS-SEZ has moved beyond framework design and into early-stage execution. Forest City has a defined role in financial services and family-office activity, while the wider zone is building a pipeline across multiple industries," a Forest City SFZ spokesperson said.

Investment pipeline builds across the JS-SEZ

Singapore's Ministry of Trade and Industry said Singapore-based companies had committed more than S$5.5 billion in investments into Johor since the JS-SEZ memorandum of understanding was signed in January 2024. The figure was highlighted at the second JS-SEZ Joint Investment Forum in Singapore in October 2025.

On the Malaysian side, the Invest Malaysia Facilitation Centre Johor (IMFC-J) reported in March 2026 that it had received 1,000 investor enquiries and was facilitating RM73 billion in potential investment.

IMFC-J is a joint federal-state one-stop centre led by the Iskandar Regional Development Authority, Invest Johor and the Malaysian Investment Development Authority.

The figures represent investment commitments and potential project value rather than fully realised capital expenditure, but provide an early measure of the commercial pipeline forming around the economic corridor.

Forest City builds financial-services proposition

Malaysia announced the Forest City SFZ incentive package in September 2024, followed by the gazettement of the Single Family Office (SFO) tax rules in October 2025. Under the scheme, a qualifying SFO vehicle may receive a 0% tax rate on eligible investment income for an initial 10-year period, with a possible extension for a further 10 years, subject to asset, local investment, staffing and operating-expenditure requirements.

The initial phase requires at least RM30 million in assets under management. The wider Forest City incentive framework also includes a 5% corporate tax rate for qualifying global-services and selected relocation activities, while eligible knowledge workers in the JS-SEZ may qualify for a 15% personal income tax rate, subject to prevailing rules and approvals.

According to Forest City data, nine family offices had received approvals under the scheme by June 2026. The Securities Commission Malaysia had previously reported more than 30 expressions of interest and has set a target of RM2 billion in SFO assets under management by the end of 2026.

Separately, Forest City said 593 applicants were approved for the SFZ category of the Malaysia My Second Home programme between 1 October 2024 and 31 March 2026, indicating demand from investors, professionals and long-stay residents alongside the financial-services push.

Cross-border measures support the dual-market model

The JS-SEZ framework is intended to combine Johor's land, industrial capacity and cost base with Singapore's capital, connectivity and business ecosystem. Measures under the bilateral framework include investor facilitation, automated immigration channels, paperless goods clearance and improved transport links.

Singapore has rolled out QR-code immigration clearance across travel modes at the Woodlands and Tuas checkpoints. Travellers should continue to carry their passports, which may still be required for verification and for clearance at the Malaysian border.

The Johor Bahru-Singapore Rapid Transit System Link is targeted to begin passenger service by the end of 2026. The four-kilometre line will connect Bukit Chagar and Woodlands North in about five minutes and is designed to carry up to 10,000 passengers per hour in each direction during peak periods.

Execution and conversion remain the next test

The World Bank projects Malaysia's economy to expand by 4.4% in 2026, supported by domestic demand, while warning that trade restrictions, global policy uncertainty and weaker external demand remain downside risks.

For the JS-SEZ, the next phase will be measured by the conversion of enquiries and commitments into approved projects, realised investment, skilled employment and operating businesses. Delivery of transport, utilities, talent development and regulatory coordination will also determine the pace at which companies adopt a cross-border operating model.

"The early indicators are encouraging, but the economic impact should be assessed over a multi-year horizon. The priority now is to convert the pipeline into sustainable business activity, jobs and a deeper professional-services ecosystem," the spokesperson said.

Forest City SFZ said it will continue working with public agencies, financial institutions and professional-service providers to support family offices, international investors and companies evaluating Johor as part of their regional growth strategy.

Key figures

Indicator	Latest stated figure
JS-SEZ coverage	Approximately 3,588 km²; nine flagship areas; 11 priority sectors
Singapore-linked commitments	More than S$5.5 billion committed into Johor since January 2024
IMFC-J pipeline	1,000 enquiries; RM73 billion in potential investment as at March 2026
SFO incentive	0% on eligible investment income for 10 years, with a possible further 10 years
RTS Link	Targeted passenger service by end-2026; up to 10,000 passengers per hour per direction
Malaysia 2026 GDP outlook	4.4% growth forecast by the World Bank

Hashtag: #ForestCity

The issuer is solely responsible for the content of this announcement.

About Forest City Special Financial Zone

Located in Iskandar Puteri, Johor, Forest City Special Financial Zone (FCSFZ) is Malaysia's pioneering special financial zone and the financial-services flagship within the Johor–Singapore Special Economic Zone. It is positioned to attract financial institutions, multinational corporations, high-net-worth individuals and businesses operating in wealth management, financial technology and global business services.

Its incentive framework includes a 0% income tax rate for qualifying Single Family Office Vehicles for up to 20 years, a preferential 5% corporate tax rate for approved qualifying activities, and a special 15% personal income tax rate for eligible knowledge workers, subject to the applicable conditions, regulatory approvals and prevailing legislation. Forest City also holds duty-free island status, further strengthening its appeal as a regional investment, business and wealth-management destination near Singapore.

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Forest City, Johor

Key Highlights:

• Jollibee Group brands Jollibee, Mang Inasal, and Chowking ranked as the Philippines' top three most valuable restaurant brands in the Brand Finance Philippines 50 2026 report.
• The Philippine restaurant sector reached approximately USD4.1 billion in brand value, growing 29% year-on-year, with Jollibee accounting for around 80% of total sector value.
• Jollibee ranked No. 2 in brand value across all Philippine brands for the third consecutive year, with brand value rising by approximately 32% to USD3.3 billion, supported by strong brand strength and global recognition as the fifth-strongest restaurant brand worldwide.
• Mang Inasal rose significantly in brand strength, emerging as No. 2 across Philippine restaurant and non-restaurant brands, with brand value increasing 28% to USD482 million, and earning recognition among Brand Finance's "Brands to Watch" for 2026.
• Jollibee Foods Corporation's broader portfolio includes Tim Ho Wan, The Coffee Bean & Tea Leaf, and Compose Coffee, reflecting a multi-brand, multi-market platform that extends beyond its Philippine restaurant brands.

MANILA, PHILIPPINES - Media OutReach Newswire - 2 July 2026 - Jollibee Group brands Jollibee, Mang Inasal, and Chowking were recognized in the Brand Finance Philippines 50 2026 report as the country's top three most valuable restaurant brands, with Jollibee leading the restaurant sector and accounting for around 80% of total restaurant brand value.

Jollibee Group brands Jollibee, Mang Inasal, and Chowking, were the top 3 restaurant brands in the Brand Finance Philippines 50 2026 ranking, reflecting the strength and value of the Group's portfolio of homegrown restaurant brands.

The report places the three brands within the broader context of the Philippines' top-performing corporate brands, where brand value and brand strength are increasingly tied to consumer demand, pricing strength, resilience, and long-term business value.

According to Brand Finance, the Philippine restaurant sector reached approximately USD4.1 billion in brand value, growing 29% year-on-year, with Jollibee accounting for around 80% of total restaurant brand value.

Jollibee Ranks No. 2 Most Valuable Philippine Brand for Third Consecutive Year; Mang Inasal Rises to No. 2 Strongest Brand Overall

The report ranked Jollibee No. 2 in brand value across Philippine restaurant and non-restaurant brands for the third consecutive year. The brand also received a Brand Strength Index score of 87.9 out of 100, placing it as the fifth-strongest restaurant brand worldwide in the Brand Finance Restaurants 25 2026 report, where it was cited as the only Philippine and Southeast Asian brand included in the global ranking.

Brand Finance attributed Jollibee's performance to stronger brand strength, sustained customer demand, and strong brand appeal across core markets. The report also linked the brand's momentum to same-store sales growth, rising transaction volumes, revenue growth, record systemwide sales, continued U.S. expansion, and successful expansion in Vietnam, marked by the opening of its 200th store in the market.

Mang Inasal delivered one of the report's most notable improvements, rising from seventh to second in brand strength across Philippine restaurant and non-restaurant brands. Its Brand Strength Index advanced 7.4 points to 95.2 out of 100, from 87.8 in 2025, lifting its brand strength rating from AAA to AAA+. Its brand value grew 28% to USD482 million, supporting its inclusion among Brand Finance's "Brands to Watch" for 2026.

Brand Finance credited Mang Inasal's performance to its position within Jollibee Foods Corporation, including scale, operational support, and broad market visibility.

Chowking also advanced in the Brand Finance Philippines 50 2026 report, rising to No. 31 among the country's most valuable brands.

Beyond these Philippine brand rankings, Jollibee Foods Corporation operates a broader global portfolio of 20 brands with more than 10,400 stores and cafés across 33 countries, including Tim Ho Wan, The Coffee Bean & Tea Leaf, Compose Coffee, Smashburger, Highlands Coffee, Milksha, and other brands across fast food, coffee and tea, bakery, casual dining, and beverage technology.

Ernesto Tanmantiong, Chief Executive Officer of Jollibee Foods Corporation, said: "These recognitions reflect the enduring strength of our brands and the trust we have earned from consumers across generations. Strong brands are strategic assets: they deepen customer loyalty, support sustainable growth, and enhance the resilience of our business, particularly in a dynamic operating environment.

"These rankings are more than brand accolades; they offer a view into the intrinsic value we are building every day. Notably, Jollibee's brand value of USD3.3 billion alone represents a substantial level relative to our current market capitalization, highlighting a meaningful opportunity to convert brand strength into sustained, long-term value for our shareholders."

Hashtag: #JollibeeGroup

The issuer is solely responsible for the content of this announcement.

About Jollibee Group

Jollibee Foods Corporation (PSE: JFC) (the "Company") is one of the world's fastest-growing restaurant companies, driven by its purpose of spreading joy through superior taste. It manages and operates a portfolio that includes 20 brands (the "Jollibee Group") with over 10,400 stores and cafés across 33 countries.

The Jollibee Group's portfolio includes nine (9) wholly-owned brands (Jollibee, Chowking, Greenwich, Red Ribbon, Mang Inasal, Yonghe King, Hong Zhuang Yuan, Smashburger and Tim Ho Wan), five (5) franchised brands (Burger King, Panda Express, Yoshinoya, Common Man Coffee Roasters, and Tiong Bahru Bakery in the Philippines), and ownership stakes in other key brands like The Coffee Bean and Tea Leaf (80%), Compose Coffee (70%), Shabu All Day (70%), SuperFoods Group that operates Highlands Coffee (60%), and bubble tea brand Milksha (51%). The Company also has membership interests in Tortazo, LLC, along with Chef Rick Bayless, for Tortazo in the U.S., and in Botrista, a leader in beverage technology.

The Jollibee Group's global sustainability agenda, Joy for Tomorrow, underscores its commitment to sustainable business practices across food safety, employee welfare, community support, good governance, and environmental responsibility, among others. These focus areas are aligned with the United Nations Sustainable Development Goals (UN SDGs).

The Company has been recognized as the Philippines' Most Admired Company by the Asian Wall Street Journal, named one of Asia's Fab 50 Companies, and listed among Forbes' World's Best Employers and Top Female-Friendly Companies. The Company is also a five-time Gallup Exceptional Workplace Award recipient and featured in TIME's World's Best Companies and Fortune's Southeast Asia 500 List.

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