Mr. Narun Wiwattanakrai, Executive Director of Siam Wellness Group Public Company Limited (SET: SPA), informed Kaohoon that FIL Limited, Fidelity’s affiliate, acquired 5% of the company’s shares through normal trading.
SPA speculated that this acquisition is due to FIL Limited seeing the company’s potential after observing the firm’s data presented in March and knowing that wellness and tourism businesses are part of Thailand’s mega trend.
Mr. Narun stated that domestic and international funds are holding 20% of SPA’s shares in total and are requesting a meeting with the company to learn more about its operation.
SPA estimated that its performance in 2Q25 may decline slightly compared to the previous year’s performance due to a 30% drop of Chinese tourists in Thailand. However, the company is making a recovery by targeting tourists from Asia, ASEAN, Europe, and Middle East’s countries.
By the end of the second quarter, SPA had 81 branches in total, with 79 of them located in Thailand and two overseas.
Regarding the overall outlook for 3Q25, SPA plans to open 3 – 4 new branches in high potential areas, such as in EmQuartier and Dusit Central Park. That quarter is also the semester break for Chinese students and the high season of the Middle East market, which the company views as positive factors. However, there are geopolitical and domestic politics that could be negative factors.
Nonetheless, SPA maintains its 2025’s revenue estimate growth at THB 2 billion, a 20% increase from last year’s revenue of THB 1.67 billion. Still, the company will evaluate the situation and its performance in the first half of the year before deciding whether to adjust its revenue target.
