Jolliville Holdings Corp. on Wednesday denied it is the one closing down high-end entertainment establishments in Metro Manila because of the coronavirus pandemic.
Jolliville said in a disclosure to the stock exchange it merely leases certain assets to various entertainment clubs and that it does not own these establishments. Jolliville chairman and chief executive Jolly Ting, and not Jolliville, is known in the industry as the owner of the clubs and that his relatives operate them on his behalf.
“JOH leases and rents out certain assets… to a number of independent business entities involved in the operation and management of KTV entertainment/recreation centers in Metro Manila area,” the company said.
The Manila Standard on Tuesday reported employees of several high-end entertainment clubs including Pegasus Ultimate Men’s Club and Heartbeat Mega KTV in Quezon City received separation pay from Ting, and that these clubs would no longer resume operations because of the huge impact of the health crisis.
Jolliville, which is owned by Ting family, has business interests in leasing, management services, property development, land banking, local waterworks system, business process outsourcing and power generation.
The company and its subsidiaries are also engaged in trading, business process outsourcing, and power generation through Calapan Ventures Inc., SBII and Ormin Power Inc.
Joliville chairman Jolly Ting and his relatives, however, are the known owners of the string of popular nightclubs in select areas of Metro Manila and a nearby town, as cited in a trademark ruling against Jollibee Foods Corp.
The Intellectual Property Office of the Philippines on July 4, 2017 ruled in favor of Jolliville over the use of the name Jolliville.
Jolliville said its name was a trademark formed in combination of Jolly Ting’s first name and ‘ville’, resulting in a coined word suggestive of the kind of business he was into, which was real estate.
“While appellee [Jollibee] was making it big in the food service business, so was Mr. Jolly L. Ting in the night entertainment business. As the owner of a string of night entertainment establishments such as Pegasus, Discovery, Mega Heartbeat, Lexus, he earned the moniker king of night entertainment,” IPOPHL said.
Following the implementation of the enhanced community quarantine in mid-March, Jolliville reported that a prolonged pandemic may affect the group’s business, especially its leasing operations.
“Some lessees’ businesses are affected by the COVID-19 situation and some have decided to reduce operating hours or close temporarily,” Jolliville said.
“While the lessees pay rent on a monthly basis under a yearly contract, it is possible that their capacity to pay in full or on time may be compromised by the current situation,” it said.