Asia Business Media: May 2013

Friday, May 31, 2013

Alibaba joins consortium to invest in logistics

News this week: China’s largest e-commerce company, Alibaba Group, has announced it will be part of a consortium that will invest up to US$16.3 billion over the next five to eight years to develop the “China Smart Logistics Network” – a plan to build a logistics network capable of delivering goods across the country.

The consortium has established a new company, Cainiao Network Technology Company Limited, to manage the system. Reported major shareholders include the Alibaba Group, Yintai Group, Fosun Group, S.F. Express Co., as well as four major Chinese courier companies: Shentong, Yuantong, Zhong Tong and Yunda. Jack Ma, Alibaba Group’s executive chairman, was named chairman of Cainiao, along with Yintai Group’s CEO, Shen Guojun, as CEO.

Alibaba has previously stated the group aims to build a logistics network over the next decade which could allow the delivery of products within China in less than 24 hours.

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Reed creates JV with Indian exhibition organiser

News this week: Reed Elsevier’s subsidiary, Reed Exhibitions, has signed a joint venture agreement with Services International. The new joint venture, Reed SI Exhibitions, will be based in New Delhi.

Services International is an organiser of events for the fire and safety industry in India. The new JV will take over the portfolio of fire and safety events organised by both partners and expand its India footprint. According to Reed, the fire safety equipment market in India is expected to grow at an annual rate of 20% reaching US$4.26 billion by 2017.

Jaideep Gurwara and Sandeep Gurwara, founders and owners of Services International said: “This represents an exciting new chapter for the fire and safety communities in India. The combination of our local expertise and network and Reed Exhibitions’ global connections and collaboration possibilities with similar events around the world, promises a very strong and bright future for this new venture.”

Sydney faces tight schedule for interim venue

News this week: Last week, Infrastructure NSW (INSW) announced it has terminated negotiations with the winning bidder to build temporary exhibition facilities at Sydney’s Glebe Island. This week INSW stressed it will provide temporary exhibition facilities at Glebe Island on schedule in time for the 2014 exhibition season.

The Exhibition & Event Association of Australasia (EEAA) revealed it has met with INSW three times since the announcement and is concerned about losing six months to an already tight construction schedule for an interim venue. The EEAA stressed the government must ensure the timely delivery of a semi-permanent facility of at least 25,000 m² and provide additional funding when necessary to meet the proposed timelines.

The International Convention Centre Sydney (ICC Sydney) is set to replace the existing Sydney Convention and Exhibition Centre (SCEC) at Darling Harbour as part of the new Sydney International Convention, Exhibition and Entertainment Precinct. ICC Sydney will become Australia’s largest MICE venue capable of holding four concurrent events of over 12,000 delegates along with exhibition capacity of 40,000 m². It is scheduled to open in December 2016.

CyberMedia posts loss in FY2012-13

News this week: Earlier this week, CyberMedia, an Indian specialty publisher, announced its results for the year ended 31^st March 2013. Revenues in the year were down 5.5% to US$13 million. The company posted a net loss of US$326,000 in 2012-13, compared to a profit of US$28,000 recorded in the previous year.

CyberMedia’s media business generated revenues of US$7.7 million or about 58% of total revenues, an 11% year-on-year decrease. The remaining revenues were attributed to the company’s media services business, which posted a 1.8% increase to US$5.7 million.

For the quarter ended 31^st March, revenues were US$2.8 million, down 21% year-on-year. The company posted a quarterly net loss of US$566,000, up significantly from US$70,000 loss recorded in the same period last year.

Global Sources’ Dubai China Sourcing Fair opens

News this week: This week, NASDAQ-listed Global Sources opened the seventh edition of its annual China Sourcing Fairs in Dubai at the Dubai International Convention & Exhibition Centre. The concurrent events were held from 28^th to 30^th May covering four segments - Electronics, Gifts & Premiums, Home Products, and Hardware & Building Materials.

Global Sources reports that 12,680 buyers from 111 countries attended the event in the 2012 edition. According to the company, bilateral trade between China and the Middle East is forecast to reach US$300 billion by 2014. Trade between China and the UAE recorded a fivefold increase in less than 10 years and was up 10% in 2011.

Tommy Wong, president of Global Sources Exhibitions, stated, “Over the years we have gained a great understanding of the type of products that buyers in this region are looking for… We have been able to focus the events on four core product categories – consumer electronics, gifts & premiums, home products, and hardware & building materials – to make the combined exhibitions more focused and beneficial for both the visitors attending and the exhibitors participating.”

Macau’s meeting numbers fall, exhibitions rise

News this week: Macau’s Statistics and Census Service (DESC) has released an update on the MICE industry for the first quarter of 2013. A total of 230 MICE events were held in the quarter, down 41% year-on-year. The number of participants at these events was about 203,000 and floor area used for the events totalled 161,000 m² in the quarter.

Amongst the 230 MICE events held in the quarter, 217 were meetings, compared with 259 in 2012, while the number of participants at meetings dropped 48% to about 29,000 – down from 55,000 last year. The number of exhibitions held in the quarter was up one rising from 12 to 13 this year, and the number of attendees jumped 64% from about 106,000 to about 175,000.

Friday, May 24, 2013

INSW terminates negotiations with Sydney Harbour Expo

News this week: In a letter sent to the Exhibition & Event Association of Australasia (EEAA), the management agency of Sydney’s Darling Harbour redevelopment, Infrastructure NSW (INSW), announced it has terminated negotiations with Sydney Harbour Expo @ Glebe Expo (SHE) for the creation of temporary exhibition facilities at Glebe Island.

According to Sydney International Convention, Exhibition and Entertainment Precinct (SICEEP) Project Director, Tim Parker, INSW terminated negotiations because a satisfactory arrangement could not be reached despite lengthy discussions. However, Parker stressed that temporary exhibition facilities will be available for the 2014 exhibition season.

INSW has reportedly begun negotiations with GL Events, another company that submitted a bid to build at Glebe Island. The Sydney Convention and Exhibition Centre (SCEC) will be closed in late 2013 for the construction of SICEEP, which is scheduled to open in 2016.

Messe Frankfurt acquires Watertech in India

News this week: International exhibition organiser, Messe Frankfurt’s Indian subsidiary, Messe Frankfurt Trade Fairs India, announced the acquisition of Watertech, an India trade fair and conference on waste, wastewater and recycling, from Exhiference Media Pvt Ltd. Financial details of the transaction were not disclosed.

Under the terms of the acquisition, three concurrent Watertech shows (Pollutech, Wastetech and Cleantech) will also be taken over by Messe Frankfurt. The last edition of the annual event was held in 2011 attracting 86 exhibitors and 2,482 visitors. The 2012 edition was postponed due to the Gujarat state election. The coming 2013 edition will be held from 26^th to 28^th September at Mahatma Mandir, Gandhinagar in Gujarat.

Raj Manek, managing director of Messe Frankfurt Trade Fairs India, stated, “We are entering a dynamic new area through the acquisition of Watertech. By applying our knowledge of best trade show practices, we look forward to developing the wastewater treatment and management segment further for the benefit of our customers, as well as driving growth as this exciting market continues to expand.”

CCID’s Q1 revenue down 7%

News this week: Hong Kong-listed, mainland media group, CCID Consulting, announced its quarterly results for the three months ended 31^st March 2013. Turnover in the quarter was US$4.5 million, a 6.6% decrease year-on-year. However, the company posted a net profit attributable to equity holders of US$130,000 in the period, which represents an 11% increase over the same period last year. Earnings per share in the quarter were RMB 0.12 cents.

CCID’s management & strategic consultancy services, the company’s largest business segment, accounted for 67% of total revenues with US$3.0 million, up 16% over last year. CCID’s second largest business segment, information engineering supervision services, grew by 10% year-on-year to US$989,000 and accounted for 22% of total revenues. The remaining revenues were generated from market consultancy services – which slipped 62% to US$499,000, which management attributed to a competitive environment in this key segment.

BOL revenue up 12% in Q1

News this week: Last week, Bangkok-based business information provider, Business Online (BOL), announced its financial results for the first quarter of 2013. Revenues were US$2.9 million, up 12% year-on-year. BOL’s net income in the quarter was US$493,000, an increase of 6.6% compared to the same period last year. Diluted earnings per share in the period were Baht 0.02.

The majority of BOL’s revenues were generated from the company’s online information service. This amounted to US$1.95 million or 67% of total revenue – up 15% over 2012. Income from other services increased slightly by 2.5% to US$899,000 in the quarter and accounted for 31% of total revenues.

ITE interim revenue up 8%

News this week: London-listed ITE Group recently posted an interim financial update for the six months ending 31^st March 2013. The company reported revenues of £69.4 million – up 8% on a like-for-like basis compared with the same period in 2012. As of 17^th May 2013, the group reported booked revenues of £174 million for the current financial year, compared with £156 million in 2012.

ITE reported strong cash generation during the financial period with net cash available of £21.7 million. The company completed three Asian acquisitions: ABEC in India (28.3%) and Trade-Link (75%) & ECMI (50%) in Malaysia, as well as the exhibition assets of Australia-based Baird Maritime for £400,000 in January 2013.

Tarsus interim revenue up 9% revenue

News this week: Last week, U.K.-based exhibition organiser Tarsus reported its interim financial results for the period from 1^st January to 16^th May 2013.

Overall, the group’s revenues were up 9% on a like-for-like basis compared with last year. Tarsus highlighted that revenues are heavily weighted towards the second half of this year due to the timing of its exhibitions, and trading for this period has been positive and remains in line with the board’s expectations.

Launched earlier this year, the company reports its “Quickening the Pace” strategy is now gaining momentum as Tarsus focuses on accelerating earnings per share growth by leveraging and developing its market leading portfolio of events in high growth economies and sectors.

Tarsus’ emerging markets businesses continues to record strong revenue growth and the company also reported on the successful integration of its recent acquisition of a majority stake in Indonesian exhibitions group, PT Infrastructure Asia (PTIA).

HOFEX expands to occupy 60,000 m2

News this week: Hong Kong Exhibition Services, organiser of HOFEX, reported that its biannual exhibition reached a new record of more than 1,900 exhibitors. Billed as the largest food and hospitality tradeshow in the Asia-Pacific region, the 15^th edition of HOFEX occupied more than 60,000m² at the Hong Kong Convention and Exhibition Centre (HKCEC).

The four-day show took place from 7^th to 10^th May and attracted more than 37,817 trade visitors – up 13.2% over the previous edition in 2011. This year, HOFEX featured more than 40 national pavilions and occupied 13 exhibition halls at the HKCEC. Goods and services exhibited ranged from the food, beverages, foodservice equipment, and hospitality design and technology categories.

Thursday, May 16, 2013

Messe Frankfurt partners to host pavilion at Shanghai textile show

News this week: Exhibition organiser Messe Frankfurt and Italian furnishing fabrics show, Proposte, have announced a partnership to host a pavilion at the Intertextile Shanghai Home Textiles trade fair. The show will run from 27^th to 29^th August 2013 at the Shanghai New International Expo Centre (SNIEC).

The joint Proposte China Pavilion at Intertextile Shanghai is the second of such partnerships following Messe Frankfurt’s earlier collaboration with Italian organiser Milano Unica at the Intertextile Beijing fabrics expo in March this year. Messe Frankfurt expects around 25 European fabric manufacturers to exhibit their products in the Proposte China Pavilion.

Detlef Braun, an executive board member of Messe Frankfurt, commented, “There is a growing demand for high-grade products in the Asian market. With the Proposte, we will further expand this segment at our fair in Shanghai and thus make it even more attractive for local buyers. We are convinced that all concerned will profit from this partnership and look forward to working with our Italian colleagues”

TTG revenue up 5% in Q1

News this week: Last week, Hong Kong-listed China.com reported its first quarter results ended 31^st March 2013. TTG Media, a China.com subsidiary focused on the travel media segment, recorded revenues of US$3 million – an increase of 5% compared to the same period in 2012. Management claimed the strong revenues resulted from the company’s events segment, highlighting the ASEAN Tourism Forum (ATF) 2013 in Vientiane, Laos, and its special projects group.

Overall revenues at China.com were US$4.7 million, up 10% compared to the same quarter in 2012. TTG accounted for about 65% of China.com’s revenues in the first quarter, while other revenues were generated from China.com’s Internet portal business.

HC International shows impressive growth in Q1

News this week: Hong Kong-listed HC International reported its first quarter results for 2013. For the three months ended 31^st March, revenues were US$26 million – an increase of 43% compared with the same quarter in 2012. The company recorded profit attributable to equity holders of US$3.3 million, a near four-fold increase over last year’s US$843,000. Diluted earnings per share in the quarter were RMB 0.0337 (US$0.0054).

The largest business segment in the quarter for the Beijing-based company was online services, which generated revenues of US$22 million (84% of total revenues). This represents a year-on-year growth of 61%. The second largest business segment was seminars and other services, up 4.8% to US$2.5 million, accounting for 9.7% of total revenues. The company’s remaining revenues were generated from its trade catalogues and yellow page directories segment. These amounted to US$1.6 million, a drop of 26% from the same quarter last year.

Global Sources revenue down, profit up

News this week: Earlier this week, NASDAQ-listed Global Sources released first quarter results for the period ended 31^st March 2012. Revenues were US$31.3 million, down 20% compared with US$38.9 million recorded in the same quarter last year. However, net income attributable to the company’s shareholders in the period was up 81% from US$3.1 million in the first quarter in 2012 to US$5.6 million this year. Diluted earnings per share in the quarter were US$0.16.

Global Sources’ CFO, Connie Lai, commented on the results, “In the first quarter, we took action to reduce operating expenses. Also, our bottom line benefitted from the sale of an office property in Hong Kong… We intend to continue our efforts to strike the right balance between investing for the future and prudently managing costs.”

The Hong Kong-based company generated revenues of US$25.0 million from its online business – 80% of total revenues – that is a drop of 19% from US$30.9 million recorded last year. Revenues from print businesses accounted for 9.5% of total revenues at US$2.98 million, down 31% year-on-year from the US$4.35 million recorded in the same quarter last year. Exhibition revenues decreased 32% to US$1.5 million from US$2.2 million in 2012, and accounted for 4.8% of the company’s total revenues.

Alibaba buys interest in digital mapping firm

News this week: Last week, China’s largest e-commerce company, the Alibaba Group, announced the purchase of NASDAQ-listed AutoNavi, a digital mapping firm, for US$294 million.

After the transaction, Alibaba will hold a 28% stake in AutoNavi. Alibaba’s Joe Tsai, and Eddie Wu will serve as directors of AutoNavi. The two companies will form a strategic alliance to develop “location based” e-commerce opportunities.

AutoNavi’s digital map service is reportedly a market leader in its industry, which has a market share of 29.8% in the first quarter in 2013. According to the company, it has a more than 100 million users as of January 2013. AutoNavi focuses on three key areas: Internet & mobile internet, navigation and government & enterprise applications.

UBM expects high turnout at inaugural Singapore jewellery fair

News this week: Singapore-based UBM Asia Trade Fairs Pte Ltd has confirmed the attendance of more than 176 exhibitors from 25 countries and regions in the inaugural edition of the Singapore Jewellery & Gem Fair. The fair will run from 12^th to 15^th October 2013 at the Marina Bay Sands’ Expo and Convention Center.

The Singapore Jewellery & Gem Fair is supported by the Singapore Jewellers Association and Diamond Exchange of Singapore among other associations. International exhibitors who have confirmed participation include those originating from Belgium, Germany, Japan, Italy, Switzerland, the U.K. and U.S.

Paul Wan, managing director of UBM Asia Trade Fairs, said, “Singapore is also home to 91,200 high-net-worth individuals… We observe that wealthy Asians have moved away from traditional investments towards ‘passion investments’ such as jewellery. We already have the world’s largest fine jewellery show in Hong Kong and hope to replicate its success in Singapore.”

Friday, May 10, 2013

Melbourne again misses out on expansion funds

Melbourne, 8^th May: In a repeat of last year’s developments, the 2013 state budget of Victoria in Australia has once again excluded funds for the expansion of the Melbourne Convention and Exhibition Centre (MCEC). Despite efforts from the Exhibition and Events Association of Australasia (EEAA) to persuade the government otherwise, the state outlined the need to manage financial constraints caused by a weaker national economy and international economic uncertainty.

According to the EEAA, over 50% of the new shows planned in Australia for 2013 are set for Melbourne. A next phase expansion was anticipated to take place within a few years after the opening of MCEC in 2009. The redevelopment of the Sydney International Convention, Exhibition and Entertainment Precinct (SICEEP) in New South Wales is scheduled to open in December 2016.

Joyce DiMascio, general manager of EEAA, said, “While the Victorian Government has a history of support for the events sector, it risks compromising the growth of the Victorian industry and its flow-on economic benefits to the State. Many events organised by EEAA members are venue-bound. The size and availability of space has reached capacity and Melbourne risks turning away new business and larger exhibitions.”

Exhibitors at Canton fair shifts focus to domestic market

News this week: Earlier this week, the 113^th Canton Fair (China Import and Export Fair) drew to a close recording a total of 202,766 overseas buyers from 211 countries and region over a three week period.

Liu Jianjun, the Canton Fair’s spokesman and deputy director general of the China Foreign Trade Centre, said “This (overseas buyers) represents a 7% rise from the autumn fair in October but a decrease of 3.8% compared with the same session last year. Total deals amounted to US$35.54 billion, representing an increase of 8.8% from last October’s session and a slight decrease of 1.4% from the last spring fair.”

A number of the exhibitors are reportedly shifting their business from the international export market to focus on the domestic front as a result of lower demand from overseas. The year-on-year number of buyers and transaction value from Europe and the U.S. reported a drop in this edition of the fair. It was also reported the attendance of Japanese buyers was up 38% compared with the October edition.

HKTDC April fairs see record exhibitor and visitor numbers

News this week: Last month, the Hong Kong Trade Development Council (HKTDC) organised seven trade fairs, attracting a new show-record of more than 11,000 exhibitors and 210,000 buyers.

According to the HKTDC, 6,466 exhibitors and about 124,000 buyers came from overseas. The Hong Kong Exhibition & Convention Industry Association (HKECIA) estimated the fairs generated more than HK$1.5 billion (US$193 million) to the Hong Kong economy.

The seven trade fairs organised by the HKTDC include: the Hong Kong International Lighting Fair (Spring Edition), the Hong Kong Electronics Fair (Spring Edition), International ICT Expo, the Hong Kong Houseware Fair, the Hong Kong International Home Textiles & Furnishings Fair, the Hong Kong Gifts & Premium Fair and the Hong Kong International Printing & Packaging Fair.

Deutsche Messe to launch new shows

News this week: Germany-based exhibition organiser Deutsche Messe will launch seven new trade shows beginning this year and into 2015. These shows will span across the BRICS (Brazil, Russia, India, China and South Africa) countries, along with Turkey and within the EU.

In Asia, two new China-based shows Comvac Asia and Industrial Supply ASIA will be launched in Shanghai this October. In India, Deutsche Messe recently formed the new umbrella brand WIN INDIA, which includes five Delhi-based events: MDA INDIA, Industrial Automation INDIA, CeMAT INDIA, Surface Technology INDIA, LASER INDIA, and new addition Industrial Supply and Subcontracting INDIA. WIN INDIA will take place from 17^th to 20^th December at the Pragati Maidan in New Delhi.

In 2012, Deutsche Messe reportedly organised 13 trade fairs totalling 17 events in the countries mentioned above. Based on topics from its HANNOVER MESSE and CeMAT related events, these events hosted 5,117 exhibitors and 420,035 visitors over a total area of 277,583 m².

Alibaba Group’s revenue up 80% in Q4

Hangzhou, 7^th May: According to Yahoo’s latest regulatory filing, China’s largest e-commerce company, Alibaba Group, recorded revenue of US$1.84 billion in the fourth quarter of 2012 – up 80% over same period in 2011. Net income during the period was US$642.2 million, an impressive jump of 171% from the US$236.9 million recorded in Q4 2011.

Alibaba recently changed its financial calendar to end in December from September previously. The company’s revenue for the full year ending September 2012 was US$4.1 billion, up 78% year-on-year, while net profit was US$484.5 million – up 81% compared with 2011.

Yahoo currently holds a stake of approximately 24% in Alibaba Group. Alibaba completed the buyback of 20% of shares from Yahoo for US$7.6 billion in September 2012. According to financial industry analysts, an Alibaba Group IPO is expected sometime this year or next.

Baidu buys online video business of PPS

News this week: The leading Chinese-language Internet search provider, Baidu Inc., announced the acquisition of the online video business of PPS, a leading Internet video provider in China. The transaction is expected to close in the second quarter of the year at the price of US$370 million.

Upon completion, the online video business of PPS will be merged with Baidu’s video platform, iQiyi, where PPS will continue to operate as a sub-brand. According to Baidu, the merger will create China’s largest online video platform by number of mobile users and video viewing time. Gong Yu will continue to serve as CEO of iQiyi, while Zhang Hongyu and PPS president Xu Weifeng will serve as co-presidents at iQiyi. They will be responsible for the PPS sub-brand and new business development.

Gong Yu said, “The merger of iQiyi and PPS’s online video business is a major step toward consolidation in the industry and will contribute to the development of China’s Internet video industry. The merger will generate significant synergies, and will provide for an improved user experience as well as more and better content. It will also deliver better marketing value and a wider range of options for advertisers.”

Friday, May 03, 2013

UBM optimistic about ASEAN’s exhibition market

News this week: According to an article in the Bangkok Post, U.K.-listed B2B media company, UBM plc, believes rising investment in the ASEAN region and the increasing number of exhibitions held in developing Southeast Asian countries are good indicators to the region’s recent growth.

Interviewed in Bangkok, UBM’s CEO David Levin stated that the company is looking to expand its exhibition portfolio in Southeast Asia, in part, to coincide with the implementation of the ASEAN Economic Community (AEC) in 2015. The company forecasts the exhibition market will grow to US$250 million in Thailand, US$200 million in Malaysia and US$110 million in Indonesia by 2020.

David Levin was quoted in the article, “For every dollar spent in the trade show business, the cities where the exhibitions are held will get seven to 10 dollars as benefits from spending occurring during the trade shows. [Exhibitors and visitors] all eat, shop and travel — it’s a huge multiplier. We think the coming economic coordination of this community will be very powerful. The exhibition industry can make a massive contribution to growth.”

Alibaba Group buys stake in Weibo

News this week: China’s largest e-commerce company, the Alibaba Group, has acquired an 18% interest in Weibo, Sina’s microblogging service. Alibaba will pay US$586 million for the stake, valuing Weibo at more than US$3.2 billion.

According to the two companies, the deal will help Weibo to generate US$380 million in advertising and social commerce services revenue over the next three years. Currently, there are reportedly more than 500 million registered users on Weibo with close to 50 million active users. Alibaba expects the deal will help drive traffic from Weibo to its e-commerce sites.

Under the agreement, Alibaba will have the right to increase its ownership in Weibo to 30% at a mutually agreed valuation “within a certain period of time in the future”, however, no further details were provided.

Made-in-China.com Q1 revenue up, profits down

News this week: Shenzhen-listed Focus Technology, the operator of Made-in-China.com, released financial results for the quarter ended 31^st March 2013. Revenues were US$19 million, a year-on-year increase of 9.2%.

In the same period, the Nanjing-based company recorded a decrease of 9.7% in net income attributable to shareholders, amounting to US$3.7 million. Diluted earnings per share in the quarter were RMB 0.19 (US$0.031) in the year.

As of 31^st March 2013, Made-in-China.com had 12,957 registered members. Of which, 12,348 members were registered on its flagship English-language site compare with only 609 members on its Chinese site.

Baidu’s revenue up 40% in Q1

News this week: Last week, the leading Chinese-language Internet search provider, Baidu, announced its first quarter results for 2013. Revenues were US$961 million, a jump of 40% over the same period in 2012.

Net income attributable to the company was US$329 million, up 8.5% over the first quarter last year. Diluted earnings per share in the period were RMB 5.88 (US$0.95).

The number of active online marketing customers increased 28% to about 410,000 in the first quarter of 2013 and revenue per customer grew to US$2,335 – a rise of 9.0% over the corresponding period in 2012.

The NASDAQ-listed company forecasts revenues in the second quarter of the year will be between US$1.19 billion and US$1.22 billion, which would represent a year-on-year increase of 35% to 38%. Revenues in the second quarter of 2012 were US$859 million.

1,200 booths at Global Sources’ spring fashion shows

News this week: Last week, NASDAQ-listed Global Sources opened its co-located fashion trade shows which featured 1,200 exhibitor booths at AsiaWorld-Expo (AWE) in Hong Kong.

The shows include the China Sourcing Fairs: Fashion Accessories, Garments & Textiles, Underwear & Swimwear and India Sourcing Fair: Garments & Accessories.

The four-day show ran from 27^th to 30^th April, and attracted major buyers including Adidas, Benetton, Cotton On, Esprit, Gap, Lafuma, Marks & Spencer, Quiksilver, and Tesco. Other sub-events featured at the show also include a fashion show, conference programme, and Global Sources’ private sourcing events.

Tommy Wong, president of Global Sources Exhibitions, said, “Among the 1,200 booths at this year’s shows, we have seen growth in several key categories. The Garments & Textiles show has grown by 28% year on year. The scarves & shawls and fashion bags pavilions under the Fashion Accessories show also achieved double-digit growth. These numbers validate suppliers’ recognition of our shows as a key platform to exhibit their products to overseas buyers.”

SCMP report: Hong Kong Government earmarks new venue site

News this week: According to an article in The South China Morning Post, the Hong Kong Government’s Planning Department has earmarked a location adjacent to the Hong Kong Convention and Exhibition Centre (HKCEC) to build a new six-story convention complex. According to the planning proposal, construction of the building will sit atop a new subway station scheduled for completion by 2020 – when construction of the convention centre can begin.

The Government has so far said the complex will only be used for conventions and meetings, and will not be a phase three expansion of the HKCEC. The complex will occupy a 1.65 hectare site and will be linked to the HKCEC via a proposed public passage way.

Daniel Cheung, chairman of the Hong Kong Exhibition and Convention Industry Association (HKECIA), was quoted, “It’s very close to HKCEC. It could have a synergy effect.” Cheung also suggested that the new venue should be managed by the HKCEC’s management team. He added, “there would be a lot of problems if the two operators could not co-operate.”

Friday, May 31, 2013

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Thursday, May 16, 2013

Friday, May 10, 2013

Friday, May 03, 2013

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