Asia Business Media: March 2014

Friday, March 28, 2014

TCEB unveils 2014 domestic MICE marketing plans

News this week: The Thailand Convention and Exhibition Bureau (TCEB) recently unveiled its 2014 domestic MICE marketing strategies, Domestic MICE (D-MICE) plan, at the inaugural Domestic MICE Mart. The inaugural event was held in Bangkok at the Royal Paragon Hall and will travel the country to build support in the five MICE cities of: Bangkok, Chiang Mai, Khon Kaen, Pattaya, and Phuket.

The D-MICE plan aims to support and improve the competitiveness of Thailand’s local MICE market through the hosting of MICE Mart events, marketing and educational activities, and providing financial support packages. The D-MICE plan is aimed at corporate customers, various levels of Thailand’s government sectors, MICE venues and other supporting industries.

TCEB has also pledged to provide financial support to the domestic exhibition market targeting newly launched exhibitions, successful exhibitions cloned to other provinces, and local exhibitions that have been upgraded to national or regional exhibitions.

This post is excerpted from BSG's weekly e-newsletter which is part of our subscription research service, BSG Tracker. Visit our website to find out more about this service. You can also follow us on Twitter for all the latest updates.

Sino Splendid revenue up 2%

News this week: Last week, Hong Kong-listed Sino Splendid announced its financial results for the year ended 31^st December 2013. The company reported revenues from continuing operations (travel media) amounted to US$12 million, up 2.0% from the previous year.

According to the company, its core business remains those under travel media business – TTG. TTG organised five world class exhibitions and events in 2013. The company highlighted its TTG Travel Trade Publishing division faced fierce competition for print advertising revenue from new media outlets, but was able to offset this decline with contributions from various special projects.

CCID’s profit up 21%

News this week: Earlier this week, CCID Consulting, the Hong Kong-listed arm of the mainland media group, released its annual results for the year ended 31^st December 2013. The company’s turnover was US$24 million, mostly flat with the 2012 figure. Profit attributable to equity holders of the company grew 21% year-on-year, to US$1.7 million. Diluted earnings per share in 2013 were RMB 0.014 (US$0.0023).

The largest business segment of CCID was the management & strategic consultancy services, generating US$15 million of turnover and accounted for 61% of total turnover. The information engineering supervision services was the second largest segment amounting to US$5.9 million, and accounted for 24% of total turnover. This represents a 27% year-on-year increase.

SEEC’s revenue and profit down in 2013

News this week: Hong Kong-listed SEEC Media has reported its financial results for the year ended 31^st December 2013. The company generated revenues of US$64 million – down 4.6% from 2012. Profit attributable to owners of the company for the year dropped 46% to US$2.2 million. Dilute earnings per share in 2013 were HK$0.01 (US$0.0013).

The majority of SEEC’s revenues were generated through advertising agency income, which amounted to US$49 million or 77% of total revenues. That is a 12% year-on-year decrease. The remaining revenues were generated through advertising income from conferences & events (US$9.1 million) and sales of books & magazines (US$5.2 million). Advertising income from conferences & events increased 37% year-on-year, while sales of books & magazines was up 25%.

HKTDC brings 170 companies to Jakarta consumer goods show

News this week: The Hong Kong Trade Development Council (HKTDC) recently organised the third edition of its Lifestyle Expo in Jakarta at the Balai Sidang Jakarta Convention Center from 20^th to 22^nd March 2014. The three-day event showcased consumer products of around 170 exhibiting companies from Hong Kong, and was supported by KADIN – the Indonesian Chamber of Commerce & Industry.

Products exhibited at Lifestyle Expo in Jakarta covered the major categories of consumer electronics, fashion and accessories, gifts and premiums, household goods, baby and children’s products, and health and beauty products. The show also featured a Small-Order Zone which offered small quantity orders to Indonesian buyers.

Raymond Yip, HKTDC’s assistant executive director, commented, “Beyond Indonesia, we expect buyers from Malaysia, the Philippines, Singapore and Thailand, among other countries in the region, to participate. Our focus, to be sure, is on Jakarta, and Indonesia. And for very good reason. Indonesia is Southeast Asia’s biggest economy. It also boasts the region’s largest population of middle-class consumers – some 60 million in all.”

CIFF September to relocate to Shanghai in 2015

News this week: The China Foreign Trade Centre (Group), or CFTC Group, organiser of the China International Furniture Fair (CIFF), has announced the September edition of CIFF will relocate to take place at Shanghai’s China Expo Complex in 2015. The new venue located in the Hongqiao District is currently under construction, and is expected to have a soft opening at the end of 2014 and to be fully operational by 2015.

Established in 1998, CIFF is held twice each year in March and September. According to the CFTC Group, the March edition will remain in Guangzhou at its current venue – the China Import and Export Fair Complex. The March 2013 edition of CIFF reportedly reached 680,000 m² and attracted more than 3,640 exhibitors from 29 countries and regions. The organiser also claimed more than 141,000 trade visitors attended the show over an eight-day period.

The CFTC Group also announced the March 2014 edition of CIFF Homedecor & Housewares segment has been extended by an extra day to 5 days at the request of its exhibitors and buyers.

Friday, March 21, 2014

Tarsus successfully acquires 50% stake in Shenzhen event

News this week: U.K.-based organiser, Tarsus, has received final regulatory approval for its acquisition of a 50% stake in the China (Shenzhen) International Branded Underwear Fair (SIUF). Tarsus acquired the stake from Zhang Fengwei & Associates. The deal was brokered by Mayfield Media Strategies.

SIUF was launched in 2006 and the 2013 edition covered a net space of almost 16,000 m². Currently, the event is largely a domestic exhibition, but the partnership with Tarsus will enable SIUF to internationalise, and add to the exhibitor base of Tarsus’ “OffPrice” Show of which lingerie is an important category.

Douglas Emslie, managing director of Tarsus commented, “We are delighted to add SIUF, a market leading exhibition to our portfolio. China is an important market for us and this acquisition fits with our “Quickening the Pace” strategy as well as providing synergies with our Off-Price shows in the US. This acquisition will consolidate our position in this fast growth market.”

Global Sources’ electronics China Sourcing Fairs sold out

News this week: Global Sources’ China Sourcing Fairs electronics series has sold out two months in advance. More than 4,100 booths will feature at the upcoming shows. The shows will run from 12^th to 15^th April at AsiaWorld-Expo (AWE) in Hong Kong.

The four co-located shows will occupy all ten halls at AWE. The shows include China Sourcing Fairs: Electronics & Components, Mobile & Wireless, Security Products and Korea Sourcing Fair: Electronics & Components. According to Global Sources, the inaugural edition of Mobile & Wireless will feature more than 1,000 booths.

Tommy Wong, president of Global Sources Exhibitions, commented, “This is the seventh time in a row booths at our electronics show have sold out ahead of the event, demonstrating the results our shows generate for exhibitors. Once again, thousands of buyers are registered to attend – among them some of the world’s largest electronics brands and retailers.”

The HUB concludes 2nd edition in Hong Kong

News this week: The second edition of The HUB, a branded fashion trade show, closed in Hong Kong last month. The exhibition ran from 25^th to 27^th February at AsiaWorld Expo. It attracted approximately 1,500 trade visitors and featured around 150 designers and brands from the U.S., Europe and across Asia. Major buyers at the event included Lane Crawford, Bluebell, Amazon.cn, Itochu, Mitsui and Cabinet Noir.

This edition also included a new feature, the Greenhouse Area, which gave an opportunity to up-and-coming designers to showcase their work.

Peter Caplowe, co-founder of The Hub stated, “One of the key aspects of The Hub is that, although based in Asia, we don’t favour local labels. Anyone showing at The Hub is here on merit alone – as such, we are delighted to have found such a wealth of world class talent in the region and are certain they will make waves globally, especially with a new platform, The Greenhouse.”

HKTDC’s twin jewellery shows welcomed 3,800+ exhibitors

News this week: The Hong Kong Trade Development Council’s (HKTDC) jewellery shows concluded earlier this month under the “two shows, two venues” format for the first time. The two shows together attracted more than 3,850 exhibitors and 74,000 buyers.

The inaugural HKTDC Hong Kong International Diamond, Gem & Pearl Show was held from 3^rd to 7^th March at the AsiaWorld-Expo (AWE). More than 1,500 exhibitors from 36 countries and regions showcased loose stones and raw material for jewellery at the show. There were nine group pavilions and five trade organisation pavilions featured this year, as well as two special product zones showcasing carat-size diamonds, and precious stones and pearls.

The 31^st edition of HKTDC Hong Kong International Jewellery Show opened from 5^th to 9^th March at the Hong Kong Convention & Exhibition Centre (HKCEC). More than 2,300 exhibitors from 43 countries and regions showcased finished jewellery collections, with first-time exhibitors from Brunei, Norway and Portugal. A total of 16 group pavilions and four trade organisation pavilions were featured.

HC International’s revenue up 53% in 2013

News this week: Earlier this week, Hong Kong-listed HC International released its financial results for the year ended 31^st December 2013. Revenues in the year were US$138 million, up 53% from 2012. Net income for the year was US$25 million – a jump of 132% over the previous year. Dilute earnings per share in 2013 were RMB 0.2489 (US$0.041).

HC’s largest business segment, online services, generated 83% of total revenues which amounted to US$115 million. This represents a 69% year-on-year growth. The remaining revenues were generated from seminars & other services (US$17 million) and trade catalogues & yellow page directories (US$7.1 million). The seminars & other services increased 23%, while the trade catalogues & yellow page directories dropped 22%.

Alibaba takes anticipated IPO to U.S.

News this week: Earlier this week, Chinese e-commerce giant, the Alibaba Group, confirmed its plans to take its widely anticipated IPO to New York. Previously, Alibaba seriously considered listing in Hong Kong. Other reports suggested that Shanghai and London were also considered.

Reuters reported this week that Alibaba is negotiating with several investment banks for the role of underwriter including Goldman Sachs, Deutsche Bank, Credit Suisse, Citigroup, Morgan Stanley and J.P. Morgan. The bank fees at stake are likely in the range of US$250 million.

Various media reports are claiming that Alibaba will raise upward of US$15 billion through its IPO and that the group will be valued at US$140 billion or possible more. Reuters also reported that Alibaba is expected to file its financial documents as early as April, and that the IPO will take place in the third quarter of this year.

Friday, March 14, 2014

Diversified acquires Australian building management show

News this week: Diversified Communications Australia has announced the acquisition of Total Facilities Expo from the Australian exhibition organiser, National Media. The show was recently held at the Melbourne Convention and Exhibition Centre (MCEC) from 4^th to 5^th March 2014. Financial details of the deal were not disclosed.

Total Facilities Expo is reportedly Australia’s largest exhibition serving the building and facilities management industry. Industry products and services represented include maintenance and repair products, predictive and preventative maintenance technologies, energy reduction and management solutions, workplace safety, security and interiors.

Matt Pearce, managing director of Diversified Communications, commented, “We look forward to working with the Facility Management Association and thought leaders within the industry to continue growing and developing the show. It is estimated that the facility management industry employs over 200,000 workers and contributes over A$20 million to the Australian economy, making it a very valuable opportunity and addition to our trade and professional offering.”

Messe Frankfurt acquires Automotive Engineering Show in India

News this week: Messe Frankfurt India Trade Fair Pvt Ltd, the Indian subsidiary of Messe Frankfurt, announced its acquisition of the Automotive Engineering Show for an undisclosed sum. The show was previously owned and managed by Mumbai-based Focussed Event Management.

The Automotive Engineering Show is focused on technologies for the automotive manufacturing sector and features categories including IT solutions, automation systems, tools and equipment, and robotics. The show’s previous edition in 2013 attracted 120 exhibitors and more than 5,600 trade visitors.

Mr Raj Manek, managing director of Messe Frankfurt India, was quoted saying, “The Automotive Engineering Show has already established itself as a credible industry platform. We are delighted to add the fair to our existing portfolio, which will greatly complement our existing trade fair on the automotive aftermarket - Automechanika.”

Pico Thailand records profit in Q1

News this week: Last week, Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, released its results for the quarter ended 31^st January 2014. Revenues in the quarter were US$8.7 million, a year-on-year increase of 14%. The company recorded a net profit of US$168,000, compared with a net loss of US$96,000 in the same period in 2013. Earnings per share in the quarter were Baht 0.027 (US$0.0008).

Pico Thailand’s management attributed the increase in revenue to the performance of its event marketing business and exhibition business as well as from the revenues from the ITU Telecom World 2013 project.

Global Sources’ revenues down, profits up in 2013

News this week: Yesterday, NASDAQ-listed Global Sources released its year-end 2013 results. Revenues in the year were US$198 million, down 15% from the previous year. However, net profit in 2013 grew moderately by 1.6%, to US$33 million using the IFRS accounting standard. Diluted earnings per share in the year were US$0.91.

More than 46% of Global Sources’ revenues were generated from its online services (US$91 million) – a drop of 23% compared with 2012. Exhibitions revenues in the year were down 3.5%, to US$86 million and that figure represents 43% of total revenues. Print services (US$13 million) continue to shrink accounting for just 6.7% of total revenues, a 23% year-on-year decrease.

Global Sources also provided guidance for the first half of 2014. The company’s management forecasts revenues in the period to be between US$88 million and US$90 million. This represents a decrease of 3% to 5% compared to the first half of 2013 which generated revenues of US$92.7 million.

UBM assures Furniture China’s exhibitors of continuation at SNIEC

News this week: Earlier this week, UBM Sinoexpo, one of UBM Asia‘s joint venture companies in China and the organiser of Furniture China, released an open letter to its exhibitors addressing the possibility of a government-backed furniture trade show launching in Shanghai in 2015.

In the letter, the organiser addressed the issue of new competition stemming from the opening of the 400,000 m² China Expo Complex in Hongqiao district in 2015. UBM acknowledged the benefits for China’s economy from a new furniture show, but stressed the benefits from exhibiting with the strong Furniture China brand outweighs short-term cost-savings.

The UBM letter also linked to a statement from Shanghai New International Expo Centre (SNIEC) quashing rumours regarding the possible relocation of the SNIEC venue. SNIEC’s management explicitly denied that the venue would be closed and redeveloped in the Lingang port district. In addition, as BSG reported last week, SNIEC has recently announced it was securing long-term contracts with major exhibition organisers to continue to host their events at SNIEC.

Asia Business Media