Mr Matthew Kichodhan, Chief Executive Officer of Wave Entertainment Public Company Limited (WAVE), a leading company in “Lifestyle & Entertainment” industry, has highlighted the Company’s Vision to produce diverse and unique products, services, and programmes to entertain and fulfill the comprehensive lifestyle of the Thai consumers. The company has set a clear policy to expand its lifestyle business, shifting from its former focus on only TV content production, concerts, and other entertainment.
Over the past year the company has expanded its lifestyle business, by investing nearly Baht 1.5 Billion targeting the Education and Retail Food Sectors. In May last year, the company acquired all the shares of Efficient English Services Company Limited (EES), which operated English classes under the name Wall Street English, licensed by Pearson Public Company Limited, the world’s largest education publisher and owner of several world-class trademarks such as Penguin Books, Financial Times Newspaper and The Economists Magazine. In December, it entered the Retail Food sector by acquiring all the shares of Jeffer Restaurant Company Limited through its subsidiary Wave Food Group Company Limited to operate the restaurant brand Jeffer Steak. This provides Wave with a strong infrastructure platform to grow in the Food segment with a network of nearly 80 restaurants nationwide, a central kitchen and over 1,200 employees.
This year, the company will continue to expand its Lifestyle Businesses to reaffirm its status as the full-scale leader in “Lifestyle & Entertainment.” It has plans for investment in the form of acquisitions and partnerships with products and services that appeal to the new generation, which can be supported by its media and entertainment sectors. It plans to focus an acquisition in the Food Sector and Entertainment Sector to build from the acquisition of 2014 with an acquisition Budget of Baht 3 Billion.
“We will continue to expand our “Lifestyle & Entertainment” Business continuously, and our target consumers are between 18 to 35 years old. We are open to new investment opportunities in the forms of acquisitions and partnerships, and we are financially ready to expand our Lifestyle Business to strengthen our company and welcome new opportunities that come with the opening of AEC in 2016,” Mr. Matthew said.
At present, Wave Entertainment operates its business through its subsidiary Wave TV, producer and distributor of TV programmes and air time. This year, it is currently producing two drama series and a TV show, concerts, and other entertainment activities through its iWave unit, There will be six concerts by local and international artists. Meanwhile, its Wall Street English business, which is operated by Efficient English Services, will open another branch, adding to the existing nine branches – eight in Bangkok, and one in Chiang Mai. Its steakhouse business under the brand Jeffer Steak is operated by its subsidiary Jeffer Restaurant Co.,Ltd., which will introduce 10 more branches this year, adding to the existing 76 branches.
As for its performance this year, the company expects to generate Baht 2 billion revenue, a significant growth from the previous year in which it made over Baht 600 million baht. The share price of the company has grown rapidly in the past three years, from 10 baht per share in 2012 to baht 75 currently. The share increase this year is due to the continuous business expansion, especially its Retail Food and Education Businesses, which will account for full Revenue recognition in 2015. Another factor is the profits from its investment in Thai Solar Energy Company Public Limited (TSE), in which Wave Entertainment holds 20% of the shares. TSE was listed in the Market Alternative Investment (MAI) in 2014 with a current market value over Baht 12 billion. Mr. Matthew says that with the value holding of TSE alone, Wave Entertainment Public Company Limited is already undervalue. The company continues to look for new possibilities to expand its business both in Lifestyle and Entertainment sectors to fulfill its mission to become a leader in Lifestyle & Entertainment.