Asia Business Media: 2015

Friday, June 12, 2015

Inaugural Seatrade Cruise Asia in Busan postponed

News this week: The inaugural edition of Seatrade Cruise Asia has been postponed to a later date as a result of the MERS virus outbreak in Korea according to the organiser and UBM subsidiary, Seatrade Communications. The two-day trade show was scheduled to take place at the Busan Exhibition and Convention Centre from 11^th to 12^th June.

Seatrade received an increasing number of withdrawal notifications from its key stakeholders including delegates, speakers and cruise lines. The organiser says its planned conference programme can no longer be delivered as scheduled as regional travel restrictions have been imposed by other Asian countries.

Andrew Williams, general manager Seatrade, commented, “This decision has not been an easy one and we have looked into every possibility, however in consultation with the industry, we feel that this is the most appropriate course of action.”

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Global Sources announces US$50 mil share buyback

News this week: NASDAQ-listed Global Sources announced this week that the company plans to launch a cash tender offer for up to US$50 million in outstanding common shares at US$7.50. That represents a 43% premium over the closing price on Tuesday (US$5.23). Under the terms of the offer, the company may buy back as many as 6.67 million common shares or close to 22% of outstanding shares. According to its financial statement, as of 31^st March 2015, the company had US$103.6 million in cash and cash equivalents.

Global Sources has made similar offers three times in the past - buying back US$50 million worth of shares at US$10 per share in 2014, US$100 million at US$9 per share in 2010 and US$50 million at US$8 per share in 2008.

Merle A. Hinrich, Global Sources’ executive chairman, said, “I am pleased to announce that after carefully considering all of the options to return capital to the shareholders, the Board of Directors has approved a tender offer as the most efficient alternative at this time. At the close of the transaction, Global Sources will still have a strong balance sheet, giving us the financial strength to pursue our growth initiatives and other options to invest in the business.”

Pico Thailand records profit in Q2

News this week: Last week, Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, announced its results for the quarter ended 30^th April 2015. Revenues in the quarter were US$8.7 million, up 34% over the same quarter in 2014. The company recorded a net profit of US$380,000 in the period, compared with a net loss of US$94,000 last year.

Pico Thailand attributed the growth in revenue to its event marketing business stemming from new customers and an increase in marketing-budget spending from the existing customers.

Pico Thailand also reported its results for the half-year ended 30^th April. Revenues in the six-month period were US$15 million, a modest increase of 1.1% over the same period last year. The company recorded a net profit of US$377,000, representing strong growth over the 2014 figure of US$78,000. Earnings per share in the period were Baht 0.059 (US$0.0018).

THAIFEX concludes with record 35,000+ visitors

News this week: International exhibition organiser, Koelnmesse, concluded its THAIFEX – World of Food Asia 2015 last month, with record number of visitors. Running from 20^th to 24^th May at IMPACT Exhibition Center, the five-day trade show attracted more than 35,000 trade visitors, of those, 7,274 were from overseas.

Among the 1,675 exhibitors from 16 sectors, 811 were international exhibitors. This year, a total of 24 country and provincial groups attended the show, including three new national pavilions representing Germany, Mexico and Turkey. Three supporting shows including World of Seafood, World of Coffee & Tea and the World of FoodService were held concurrently with THAIFEX.

Michael Dreyer, vice president, Asia Pacific, Koelnmesse Pte Ltd, said, “THAIFEX – World of Food Asia, celebrated our tenth anniversary last year. This year, we marked a milestone by expanding our fairground, and the continued growth and encouraging response is solid proof that we are growing in the right direction that we started out in. This has been very rewarding for Koelnmesse and our co-organisers, DITP (Department of International Trade Promotion) and TCC (The Thai Chamber of Commerce).”

The Hub fashion show relocates to Shanghai

News this week: The upcoming 5^th edition of The HUB, billed as Asia’s premium brand fashion trade show, will relocate from Hong Kong to Shanghai this year. The show will run from 13^th to 15^th October at Central Studios, to coincide with the Shanghai Fashion Week taking place at the nearby Xintiandi district.

The HUB in Shanghai will showcase around 40 international brands together with a selection of leading Chinese designers. Confirmed exhibitors so far include Boy London, Dienastie from Sweden, Rack & Ruin from the U.K., Swims of Norway, Flying Zachinnis and Juma from the U.S., along with leading Beijing-based designers Zhang Chi and Capitale Nord.

Richard Hobbs, co-founder of The HUB, said, “From the outset just two years ago we knew that at some point we would take The HUB to Mainland China and now is the right time… From today, China will be reducing import tariffs on a number of clothing and footwear categories and we can only see more openness as China makes it easier for brands to import, find buyers and partners.”

Alibaba signs strategic agreement with Shanghai Media Group

News this week: China’s largest e-commerce company, Alibaba Group, has signed a strategic agreement with Shanghai Media Group (SMG) to serve China’s financial information services industry through their Internet technology and media resources.

Under the agreement, Alibaba will invest RMB 1.2 billion (US$194 million) into China Business News (CBN), a Chinese financial media company under SMG, and launch a financial data and information service company. The two companies will also jointly develop a comprehensive financial data and information platform to provide users, especially small- and medium-sized enterprises, with financial news and information. CBN’s wealth management information product will launch on Mobile Taobao in the near future.

Alibaba Group founder and executive chairman, Jack Ma, said, “The era of Data Technology is here and it will surpass the Information Technology era. The DT era is about transparency, sharing of information and enabling others. Alibaba is excited about the possibilities of the DT era and how it can bring value to society.”

Friday, June 05, 2015

dmg invests in Chinese property data market

News this week: dmg information Asia Pacific announced its venture into the Chinese property information market by investing in Funcent, a data and workflow solutions provider to real estate valuation companies and commercial banks. No financial details were disclosed.

Funcent provides a data workflow and price enquiry platform through its Cloud Appraisal System. According to dmg information, the company will increase its shareholding in Funcent over the next few years to expand its business in China, focusing particularly in the commercial real estate market in Beijing and Shanghai.

Stephen Stout, CEO of dmg information Asia Pacific said, “With our knowledge of the property markets in other countries and the similarity of the Funcent products to those provided by other dmg information companies, we believe we can bring considerable value to the business.”

Baidu plans expansion in Latin America

News this week: According to media reports, leading Chinese-language Internet search provider, Baidu, has plans to further expand its business in Latin America following the launch of its search engine in Brazil last year.

Baidu has reportedly identified Argentina, Chile or Mexico as possible locations to set up the company’s next Latin American operation. Baidu will also aim to position itself as a service aggregator to replace disparate mobile-based apps and create a single platform to offer the services.

Baidu will reportedly rely on acquisitions or form partnerships with local services providers for its expansion plans. In October 2014, Baidu completed an acquisition in Brazil for online group buying platform, Peixe Urbano, for an undisclosed sum.

Cebu’s SMX convention centre to open in 2017

News this week: The Philippines’ Visayas region is scheduled to receive its first major convention centre with the opening of SMX Convention Center in Cebu by 2017. The size and capacity of the new venue has yet to be determined. Construction will reportedly begin in August 2015.

SMX Convention Centre will become a part of a new development built on reclaimed land that is modelled on Manila’s Mall of Asia. The new development will also include a hotel and an indoor arena for sports, concert and other events.

According to Dexter Deyto, vice president and general manager of SMX Convention Specialists, the new venue will join the group’s existing portfolio of trade halls which include other convention centres in Manila, Bonifacio Global City, Davao and Bacolod.

CEIR: U.S. exhibition industry up 4.6% in Q1

News this week: Earlier this week, the Center for Exhibition Industry Research (CEIR) released its index report on the first quarter performance of the U.S. exhibition industry. The U.S. exhibition industry grew 4.6% year-on-year to record an eight year high.

All four metrics of CEIR’s index, net square feet sold, number of exhibitors, number of attendees, and revenues, recorded growth. Growth of revenues led the index recording an increase of 7.3% year-on-year. This was followed by growth in net square feet sold of 4.1%, number of attendees by 3.7%, and a 3.3% growth in number of exhibitors.

CEIR President & CEO Brian Casey, CEM, was quoted, “We are very encouraged to see that the exhibition industry is continuing its upward climb. While industry growth has been moderate, the strong performance of Q1 is certainly offering positive indicators for the near future.”

UBM to hold record-breaking June jewellery and gem fair

News this week: UBM Asia’s June Hong Kong Jewellery & Gem Fair (June Fair) will be held this year on 25^th to 28^th June at the Hong Kong Convention and Exhibition Centre (HKCEC). The organiser reports 2,233 exhibitors will set a new show record to occupy more than 70,000 m² of exhibition space.

This year’s June Fair will feature 16 themed pavilions, including the debut of the Stainless Steel Jewellery Pavilion, Fashion Jewellery Pavilion and Designer Arena. The Stainless Steel Jewellery Pavilion and Fashion Jewellery Pavilion will feature 20 stainless steel jewellery exhibitors and 90 fashion jewellery exhibitors respectively.

The June Fair is also supported by Mineral and Gem Asia (6MG), which will be held concurrently at the AsiaWorld-Expo (AWE) from 27^th to 30^th June. Products showcased at 6MG focuses on rough gemstones and semi-precious stones. The organiser will offer a free shuttle bus service to transport registered exhibitors and visitors between the venues.

Computex Taiwan hosts 1,702 exhibitors

News this week: This week, the 35^th edition of ICT trade show Computex Taipei opened at the Taipei World Trade Center (TWTC) featuring 1,702 exhibitors from 21 countries and regions occupying 5,072 booths. The exhibition is spread over the two additional venues of TWTC Nangang Exhibition Hall and Taipei International Convention Center running from 2^nd to 6^th June.

Billed as the largest trade show of its kind in Asia and second largest in the world, Computex is organised by the Taiwan External Trade Development Council (TAITRA). TAITRA expects to receive more than 130,000 visitors over five days, including around 38,000 overseas buyers.

Walter Yeh, TAITRA’s executive vice president, highlighted the potential growth opportunities of Internet of Things, commenting, “Soaring growth in this area is boosting demand for multiapplication chips. Computex is the perfect platform for global chipmakers to show off their R&D results.”

Friday, May 29, 2015

Alibaba launches Korea Pavilion on Tmall.com

News this week: China’s largest e-commerce company, Alibaba Group, has announced the launch of a Korea Pavilion on its Tmall.com platform. Tmall.com’s Korea Pavilion opened on 18^th May and allows any Korean retail goods to be listed.

Tmall.com’s Korea Pavilion was introduced in a ceremony at the aT Center by Jack Ma, founder and executive chairman of Alibaba Group, and Choi Kyunghwan, Deputy Prime Minister of Korea. The Korean Pavilion has partnered with Korea Agro-Fisheries & Food Trade Corporation (aT) and Korea International Trade Association (KITA). According to Alibaba, a Korean herbal cosmetics brand was among their best-selling item during China’s Singles’ Day in November last year.

Jack Ma was quoted saying, “The Korea Pavilion is Alibaba Group’s first official country pavilion and we will continue to work with governments of other countries to launch similar pavilions in the future in order to satisfy the needs of our Chinese consumers. Korean made products have always been popular in China and we are excited to bring these products onto Tmall.com.”

Japanese tax amendments to impact B2B online transactions

News this week: According to media reports, Japanese lawmakers are edging closer to amending the nation’s Consumption Tax Act, which taxes the majority of imported goods and domestic transactions. Currently, e-commerce transactions originating from companies registered outside of Japan are not subjected to this tax.

Lawmakers are seeking amendments to include cross-border transactions and have reportedly been passed by Japan’s National Diet. The legislation will come into effect on 1^st October this year. While there will be no levy imposed on the service provider, the buyer will instead be taxed by the National Tax Agency (NTA) – but commercial buyers will be eligible to obtain a tax credit for the fee paid.

The amended law will require e-commerce operators based outside of Japan to collect a tax from Japanese buyers on behalf of the NTA. E-commerce businesses will be required to register as an offshore service provider by July 2015 and indicate their operating capacity as either B2B or a mix of B2B and B2C similar to current regulations of the European Union.

Visitors up 28% at UBM’s Concrete Show India

News this week: UBM India, a subsidiary of UBM Asia, recently concluded the 2015 edition of Concrete Show India featuring more than 150 exhibitors from 10 countries and regions. The three-day show was held at the Bombay Convention and Exhibition Centre (BCEC) in Mumbai from 7^th to 9^th May 2015.

UBM reported attendance of 5,000 trade visitors – an increase of more than 28% over the previous edition. Overseas visitors representing the infrastructure and construction industry included those originating from China, Germany, Greece, Italy, Japan, Malaysia, South Korea, Taiwan, the Netherlands and U.S. Highlights of this edition of Concrete Show India included an Innovation Corner and Interactive Zone.

Mr. Surya Prakash, president of the Association of Consulting Civil Engineers (India), said, “Cement and concrete industry in India is poised for a definite growth. The recent five year plan emphasize more on infrastructure as it is the basic requirement for development of any sector. India is the third largest country in the world with a massive production of 280 million tonnes and this will go to 800 million tonnes in next few years.”

Labelexpo India 2016 to relocate

News this week: International exhibition organiser, Tarsus Group, announced the 2016 edition of its Labelexpo India will relocate to another venue, the India Expo Centre in Greater Noida. The four-day show will run from 17^th to 20^th November.

The previous edition of the biennial Labelexpo India took place at Pragati Maidan from 29^th October to 1^st November 2014 occupying 4,663 m². The 2014 event also featured 147 exhibitors and 7,927 visitors. According to Tarsus, India Expo Centre is a modern open plan exhibition space situated in a good location, which will benefit both Labelexpo’s exhibitors and visitors.

Jade Grace, Labelexpo India’s event director, commented, “We are excited about our new home for 2016’s show and future editions. Pragati Maidan had very limited availability for 2016 which meant the show would have been held too close to Diwali, so by moving to the India Expo Centre we have been able to secure much better dates for 2016’s edition. With the show set to be around 25% larger in the new event space, we are very confident that its more modern and central layout will enhance the show and provide a refreshed experience for visitors and exhibitors alike.”

KEC to hold first metal industry exhibition in Taiwan

News this week: Taiwan will hold its first metal industry exhibition, International Metal Technology Taiwan, at the Kaohsiung Exhibition Center (KEC) from 2^nd to 4^th December 2015. The new show will be support by the Kaohsiung City Government and is organised by Kaigo Co., Ltd.

International Metal Technology Taiwan will feature exhibitors from the entire supply chain of the metal technology sector and focus on technological innovations, foundry technology, surface treatment, heat treatment, castings, forging, molding, joint and cut technology, raw materials, wires and tubes, finished and semi-finished products and engineering.

Kaigo, founded in 1978 in Taiwan, is a key player of Taiwan’s exhibition and convention industry.

KLCC breaks ground on expansion project

News this week: Coinciding with the venue’s 10^th anniversary, expansion work on Malaysia’s Kuala Lumpur Convention Centre (KLCC) is officially underway. The expansion plans were first approved in February 2011.

The designated lot for expansion will comprise of mixed commercial use including an office tower, convention centre and retail podium. KLCC is located in the heart of the city’s business district. The extension will provide an additional 10,000 m² of flexible indoor space in addition to KLCC’s existing 22,659 m².

In 2014, a total of 1,759 events were held at the venue attracting more than 1.97 million delegates, an 11% increase over the 1,565 events recorded in 2013. The number of events increased from 1,565 in 2013, while delegates were up from the 1.96 million recorded in 2013.

KLCC’s general manager, Alan Pryor, commented at this year’s IMEX Frankfurt, “We are thrilled to reveal that groundwork began in late April and we expect the expansion to be completed in 2018. For many current clients the expansion will enable them to grow their activities and/or events significantly. This development will also play an important part in the future of the Centre and the events that it hosts, as such we are very happy that the announcement of the expansion coincides with our 10^th anniversary.”

Friday, May 22, 2015

Alibaba Group acquires stake in Chinese logistics company

News this week: New York-listed Alibaba Group announced the acquisition of a minority stake in the Shanghai YTO Express (Logistics) Company. Financial details were not disclosed. Both companies plan to cooperate in developing logistics solutions to improve efficiency of China’s logistics industry.

YTO Express will work closely with Alibaba’s logistics subsidiary Cainiao to enhance the industry’s logistics management capabilities as well as international and rural delivery services. Cainiao was founded by Alibaba in 2013 in partnership with a consortium of logistics companies with the aim of building a nationwide logistics platform.

Judy Tong, senior vice president of Alibaba Group and president of Cainiao, said, “The strategic investment in YTO Express reflects our commitment to improving quality and service standards in China’s logistics industry. As a platform, we look forward to working closer with partners who share our vision to develop more efficient logistic infrastructure and solutions that will drive development of China’s logistics sector in order to fully satisfy our customers’ needs.”

TTG sees positive results in Q1

News this week: Hong Kong-listed Sino Splendid (formerly China.com) has reported its first quarter results ended 31^st March 2015. Revenues were US$1.7 million, growing 14% from last year. The company attributed the growth in revenue to the increase from print advertising. Profit in the quarter was US$114,000, more than triple last year’s US$31,000. Earnings per share in the period were HK$0.0014.

The travel media business, TTG, posted a positive result in the quarter due to steady growth of revenues within the overall business. Company management highlighted TTG Travel Trade Publishing completing various print publication special projects, as well as the confirmation of several advertising contracts for TTG Guides & Maps Publishing.

HC International’s revenue and profit down in Q1

News this week: Last week, Hong Kong-listed HC International announced its results for the quarter ended 31^st March 2015. Revenues were US$34 million, a decrease of 5.5% compared with the same quarter last year. Profit in the quarter also recorded a drop falling 41% down to US$4.0 million. Diluted earnings per share in the period were RMB 0.0365 (US$0.0059).

Almost 80% of the Beijing-based company’s revenues were generated from online services amounting to US$27 million. This represents a year-on-year decrease of 12%. The second largest business segment was seminars and other services, which increased by 8.7% to US$4.4 million and accounted for 13% of total revenues. The remaining revenues were generated from the newly acquired “digital identity management business”, anti-counterfeiting products and services (US$1.8 million), and the trade catalogues and yellow page directories segment (US$718,000).

Global Sources records loss in Q1

News this week: Yesterday, NASDAQ-listed Global Sources released its financial results for the first quarter ended 31^st March 2015. Revenues were US$22.2 million, down 36% compared with US$34.5 million last year. In the same period, the company recorded IFRS net loss of US$2.1 million, compared with IFRS net income of US$145,000 in 2014. The drop in revenue was largely due to the shifting of one of the company’s major exhibitions from the first quarter in 2014 to the second quarter in 2015.

More than 80% of Global Sources’ revenues were generated from its online business, amounting to US$17.9 million. That is a drop of 16% from US$21.3 million recorded last year. Revenues from print business accounted for 9.6% of total revenues at US$2.1 million, down 17% year-on-year from 2014’s US$2.6 million. Meanwhile, exhibitions revenues slipped to US$260,000, down from US$8.9 million in the same period last year. The company attributed the decline to the shift in timing of SIMM machinery shows (Shenzhen International Machinery Manufacturing Industry Exhibition and its related shows) from the first quarter of 2014 to the second quarter of 2015.

Global Sources’ executive chairman, Merle A. Hinrich, said, “Our first quarter results reflect the shift in timing of our SIMM machinery shows for the mainland China domestic market from the first quarter of 2014 to the second quarter of 2015. In April, we held our export-focused shows, including Global Sources Electronics, the world’s largest electronics sourcing trade show featuring a total of more than 5,500 booths.”

HKTDC’s medical fair features 250 exhibitors

New this week: This week, the 6^th edition of Hong Kong International Medical Devices and Supplies Fair (Medical Fair) featured more than 250 exhibitors from 11 countries and regions. The three-day fair ran from 18^th to 20^th May at the Hong Kong Convention and Exhibition Centre (HKCEC) welcoming nearly 10,000 buyers.

Organised by the Hong Kong Trade Development Council (HKTDC) and co-organised by the Hong Kong Medical and Healthcare Device Industries Association, this year’s Medical Fair featured two inaugural pavilions representing Canada and the Taiwan Medical and Biotech Industry Association. Ten sector-specific zones were also set up this year including: the Hospital Equipment zone, the Rehabilitation and Elderly Care zone, Household Medical Products, Medical Cosmetology, Medical Supplies and Disposable, Physiotherapy, Tech Exchange, Business of IP Zone, and the Building Technology and Hospital Furniture zone.

Benjamin Chau, HKTDC’s deputy executive director, said, “Buyers from Japan, Taiwan, Singapore, and Vietnam recorded significant growth. It is an indication of Asia’s strong demand for medical supplies and services. An ageing population and increased health consciousness are also factors boosting the demand for healthcare equipment in the region.”

Reed’s Shanghai healthcare show spans 290,000 sqm

News this week: Earlier this week, Reed Exhibitions’ joint venture subsidiary, Reed Sinopharm, organised the 2015 Health Industry Summit (tHIS) for the first time at the National Exhibition and Convention Center (NECC) in Shanghai. The mega umbrella show spanned a total exhibition space of 290,000 m² and drew 210,000 visitors from 150 countries and regions. The first day of tHIS alone reportedly attracted 100,000 visitors.

There were media reports of teething problems at the relatively new NECC venue. Visitors reportedly complained about chaotic organisation ranging from poor signage in the venue and parking lot, hour-long queues for food and beverage, inadequate connections for transportation and insufficient hotel accommodations.

Running from 15^th to 18^th May, the four-day show featured 6,800 exhibitors showcasing the latest in medical equipment and equipment manufacturing solutions, pharmaceutical formulations and ingredients, manufacturing technologies, natural health and nutrition products. Notable exhibitors included healthcare equipment giants such as GE, Siemens, Philips, Mindray, and United Imaging.

Friday, May 15, 2015

Canton Fair’s visitor numbers flat

News this week: The 117^th China Import and Export Fair (Canton Fair) concluded its spring edition on 5^th May at the China Import and Export Fair Complex. Organised by the China Foreign Trade Centre (CFTC), the organiser reported a year-on-year increase of 3% in the number of regular buyers to over 52,000. Compared with the autumn session in 2014, the number of overall buyers was mostly flat at 184,801 – originating from 216 countries and regions.

The CFTC reported the number of buyers from Asia, the Americas, Africa and Oceania showed encouraging year-on-year growth. Additionally, the number of buyers from countries relevant to China’s “One Belt, One Road” amounted to more than 80,000. Market weakness saw attendees from Europe drop by 18% compared to the autumn session to 30,383.

Chinese manufacturers of smart appliances used the Canton Fair to showcase their latest hi-tech products. Smart products by the likes of Haier, Midea and Chigo accounted for roughly half of the products exhibited by leading home appliance brands, in response to Beijing’s call for increased innovation.

224,000 visitors attended HKTDC’s April fairs

News this week: According to the Hong Kong Trade Development Council (HKTDC), seven trade fairs organised by the council in April attracted close to 224,000 buyers in total, up 1% year-on-year, and had an economic impact that generated more than US$168 million for the local economy.

The HKTDC reported that more than 127,000 buyers, or 57% of the total, originated from mainland China or overseas. In particular, year-on-year increases in overseas buyers were observed from the U.S. (4%), U.K. (4%), Germany (6%), Switzerland (10%), mainland China (2%), India (23%) and the Philippines (12%).

Benjamin Chau, deputy executive director of HKTDC, said, “Despite some uncertainties such as the slowing economic growth in certain Asian economies, the pending U.S. rate hike and the strengthening Hong Kong currency, buyer attendance at our fairs recorded growth… According to the Hong Kong Tourism Board, per capita spending of overnight MICE visitors averaged over HK$9,400 (US$1,213) during their stay.”

CCID’s profit jumps 57% Q1

News this week: Hong Kong-listed, mainland media group, CCID Consulting, released its quarterly result for the three months ended 31^st March 2015. Revenues were US$3.6 million, a year-on-year decrease of 19%. However, the company’s net profit jumped 57% from last year, amounting to US$174,000 in the quarter. Earnings per share in the three-month period were RMB 0.0015.

More than half of CCID’s revenues were generated from its management & strategic consultancy services, amounting to US$1.9 million – a drop of 22% year-on-year. Management attributed the decrease in this business segment to the expansion of other businesses within the company.

CCID’s second largest business segment, information engineering supervision services, also slipped 26% to US$1.2 million, and accounted for 32% of total revenues. The remaining revenues were generated from market consultancy services, which grew 20% to US$613,000.

BOL Q1 revenue and profit down

News this week: Last week, Bangkok-based business information provider, Business Online (BOL), announced its financial results for the first quarter of 2015. Revenues were US$2.8 million, down 16% year-on-year. Net income in the quarter was US$461,000, a drop of 13% from the same period last year. The company did not comment on the decrease in revenue and profit. Earnings per share in the period were Baht 0.02.

Nearly 70% of BOL’s revenues were generated from its online information services which amounted to US$1.9 million, a year-on-year growth of 11%. Income from other services slipped 46%, down to US$885,000 in the quarter. The company did not provide details of the various revenue categories.

ITE reports strong performance in Asia in H1

News this week: This week, U.K.-based exhibition organiser, ITE Group, reported its interim results for the six months ended 31^st March 2015. The company reported revenues of £56.1 million (US$83 million), down from £71.2 million (US$119 million) in the previous year. Management commented on the reduction in revenues resulted from a weaker biennial pattern of its events. Pre-tax profit was also down from £12.2 million (US$20 million) in 2014, to £7.8 million (US$12 million) this year.

Revenues generated from events in Asia for the six-month period were £1.3 million (US$2.0 million). According to ITE, its subsidiaries in India and China performed well during the period. In India, ABEC’s construction events sold more than 65,000 m², and showed good revenues and profit growth. In China, strong growth in revenues and profit was observed in Sinostar’s Chinacoat – which sold over 34,000 m², up 11% from the November 2012 edition.

Separately, ITE announced the appointment of Udo Schuertzmann as the new head of business in India. He replaces Kim Willis, who will relocate to Kuala Lumpur to manage the company’s Malaysian business. Udo, a 23-year exhibitions industry veteran, will head ITE’s New Delhi-based ITEI and manage ITE’s stake in Mumbai-based ABEC.

Mack Brooks acquires Quartz Chemicals

News this week: Exhibition organiser, Mack Brooks Exhibitions Group, announced the acquisition of Chemspec events series and Speciality Chemicals Magazine from Quartz Group. Financial details of the deal were not disclosed.

Chemspec events include exhibitions in Europe, Eurasia and Asia. The annual event in Asia, Chemspec India, reportedly drew 11,000 visitors in its 2015 edition. The next edition will be held from 7^th to 8^th April 2016 at Bombay Convention & Exhibition Centre (BCEC) in Mumbai. The monthly publication Speciality Chemicals Magazine reports a total readership of 40,000 per issue from its print and digital editions.

Mack Brooks’ chairman, Stephen Brooks, said, “We’re very pleased to have made an agreement to acquire Quartz Chemicals Ltd together with the Chemspec Events and the Speciality Chemicals Magazine. The events, magazine and staff are long-established and highly respected in their sector and we know that Mack Brooks will provide the continuity, investment and customer-focused approach that will enable the business to prosper in the future.”

TCEB roadshow engages Chinese exhibition stakeholders

News this week: Last week, the Thailand Convention & Exhibition Bureau (TCEB) held a TCEB Exhibitions Business Forum in both Beijing and Shanghai to engage with the Chinese exhibition industry. TCEB used the opportunity to provided updates on the Thai exhibition industry and its new marketing campaign – Connect Businesses.

TCEB launched its Connect Businesses campaign to create matchmaking and networking opportunities for Chinese stakeholders at Thai exhibitions, targeting trade promoters, chambers of commerce, trade associations, overseas trade publications, oversea non-profit organisations, and MICE travel agents. Other TCEB offers for the China market include a VIP MICE Lane on arrival and a special welcome package.

Mrs. Jaruwan Suwannasat, exhibitions and events director of TCEB, said, “Chinese market is a top priority for TCEB and the government. TCEB strives to create long-term competitiveness and sustainability for our service sectors which will yield profound results in both countries, as well as the region and drive connections that will help Thailand reaches its ultimate goal of welcoming 1,036,300 MICE travellers in 2015, generating income of approximately 106.78 billion baht (US$3.2 billion).”

Friday, May 08, 2015

Melbourne’s MCEC expansion plans approved

News this week: Earlier this week, the Victoria state government in Australia announced funds of between US$149 million to US$165 million have been approved for the expansion of the Melbourne Convention & Exhibition Centre (MCEC).

Stage two of MCEC’s expansion is expected to add thousands of square metres of new exhibition space and additional multi-purpose space. The MCEC reported a record three years, which welcomed 1.5 million visitors annually. The venue expansion is expected to attract an additional 74,000 international visitors annually. A timeline for the project will be announced at a later date.

Exhibition and Event Association of Australasia (EEAA) chief executive Joyce DiMascio said, “EEAA has been campaigning for a number of years for this expansion, most recently in our submission to the Victorian Visitor Economy Review, and we warmly welcome today’s announcement.” DiMascio also cautioned, “If there is one lesson governments should take from the closure of the Sydney Convention & Exhibition Centre it is that disruption due to construction must be managed with the highest regard for its flow on effects to the industry.

MEET TAIWAN launches MICE subsidy programmes

News this week: The Taiwan External Trade Development Council’s (TAITRA) flagship MICE promotional programme, MEET TAIWAN, recently introduced the “Taiwan Value Go” and “Taiwan Meeting and Incentive Rewards Program” to serve overseas MICE visitors.

The “Taiwan Value Go” program features the cultural experiences that overseas MICE visitors can enjoy during itineraries which are centred around nine international exhibitions around Taiwan. TAITRA aims to attract meetings and incentives groups by providing local event organisers and partners sponsorships ranging from US$326 to US$3,260 depending on the size of MICE visitor groups.

The “Taiwan Meeting and Incentive Rewards Program” consists of two parts – an inspection package and a group package. Applicants can benefit from consultation on site inspections and partial subsidies for accommodation, flights, and dining from the inspection package. The group package meanwhile offers hospitality services for guests.

TCEB unveils marketing campaigns in Japan

News this week: The Thailand Convention & Exhibition Bureau (TCEB) introduced its two brand communication campaigns – Thailand Connect the World and Thailand’s MICE United II – to the Japanese MICE market during its recent roadshow in Tokyo. The bureau also unveiled targeted initiatives for Japan including special financial subsidies and support for mega events.

TCEB announced special financial subsidies of up to around US$30,000 for large corporate meeting groups. There was also a per head incentive for groups engaging in business matching activities. For exhibitions, TCEB unveiled the J-Privilege campaign – which includes financial support; the MICE Lane Service – which offers VIP transport arrangements for international delegates; and the “J-Plan…in Thailand” campaign.

The “J-Plan…in Thailand” campaign targets Japanese associations, festivals and event organisers working as part of a joint venture with Thai partners. In particular, high profile events attracting 10,000 or more domestic and international visitors will receive TCEB’s comprehensive support, including feasibility studies, identification of local partners, complimentary flights and accommodation for site inspections, facilitation of introductions to government and private sector stakeholders, and promotional support.

According to TCEB, Thailand received 919,614 business events travellers in 2014 – of which 31,373 originated from Japan and places the country in Thailand’s top 10 source markets.

Made-in-China.com’s profit up 31% in Q1

News this week: Shenzhen-listed Focus Technology, the operator of Made-in-China.com, released its financial results for the quarter ended 31^st March 2015. Revenues dropped 15% year-on-year, down to US$17 million. The company’s management did not comment on the decline. Net income in the first quarter jumped 31%, amounting to US$3.8 million. Diluted earnings per share in the quarter were RMB 0.20 (US$0.032).

As of 31^st March, Made-in-China.com had a total of 12,674 registered members. Majority of them were registered on its flagship English language site, which had 12,120 members and just 554 members were registered on its Chinese language site.

EEA acquires Australian Tattoo & Body Art Expos

News this week: Earlier this week, Australian exhibition organiser, Exhibitions and Events Australia (EEA), announced the acquisition of Australian Tattoo & Body Art Expos from Toro Media. The new ownership was in effect on 1^st May 2015. Financial details of the deal were not disclosed.

The Australian Tattoo & Body Art Expos are held annually in Sydney, Melbourne and Perth, showcasing tattoo artists from Australia and around the world. The shows reportedly attract more than 40,000 visitors every year.

Matthew Johnson, director of Toro Media, said “EEA is perfectly placed to take over these successful and very colourful events. Phil and I are excited about this change and the benefits to exhibitors it will bring. They are an entrepreneurial business that is one of the best exhibition organisers in the country.”

Alibaba’s revenue up 45% in FY2015

News this week: Yesterday, China’s largest e-commerce company, Alibaba Group, announced its results for the quarter and the fiscal year ended 31^st March 2015. For the quarter ended 31^st March, the company recorded revenues of US$2.8 billion, up 45% over same period in 2014. However, net income in the period was down 49% year-on-year, to US$463 million.

Revenues from Alibaba’s China B2B business, primarily generated from 1688.com, grew by 42% to US$136 million. The company’s international B2B business, primarily from Alibaba.com, generated revenues of US$194 million. This represents a 19% increase from the same quarter in 2014. In total, B2B revenues for the quarter amounted to US$330 million or 12% of overall revenues.

For the year ended 31^st March 2015, revenues were US$12 billion, a jump of 45% from the previous year. Net income was up by 4% in 2015, reaching US$3.9 billion. Diluted earnings per share in the fiscal year were RMB 9.70 (US$1.56).

The company also disclosed in its financial announcement the appointment of its current COO, Daniel Zhang, as CEO effective 10^th May 2015. Alibaba Group’s current CEO, Jonathan Lu, will remain on the company’s board of directors as vice chairman.

Thursday, April 30, 2015

IPIM hosts Macau MICE strategy workshop

News this week: Last week, the Macao Trade and Investment Promotion Institute (IPIM) organised a Business Events Strategy Workshop at the Macao Business Support Centre (MBSC). The one day event, held on 23^rd April, focused on assisting the promotion and development of the administrative region’s convention and exhibition industry.

During the event, IPIM, together with more than 50 delegates representing the local MICE industry and international chambers of commerce, touched on local challenges and opportunities and explored ways to jointly develop strategies to promote its sustainable development. The workshop was headed by IPIM´s consultant, Mike Williams, sharing insights, as well as discussions on planning and marketing strategies.

The government-backed investment promotions body provides “One-Stop Services” for the bidding and support of MICE events in Macau to local and international event organisers.

Messe Frankfurt inks deal to cooperate on Meat Expo China

News this week: Messe Frankfurt (Shanghai) has signed a deal with the Circulation Industry Promotion Centre (CIPC) to cooperate on the Meat Expo China event. CIPC, which is a subsidiary of China’s Ministry of Commerce, first organised Meat Expo in the northern city of Harbin in 2002.

In 2014, the exhibition attracted some 84 exhibitors and 6,000 trade visitors. The exhibition has rotated through several Chinese cities including Shanghai, Beijing, Chengdu, Ningbo and Tianjin. The next edition of Meat Expo China is scheduled to be held on 25^th to 27^th November at the Shanghai New International Exhibition Centre (SNIEC). Messe Frankfurt plans to pair Meat Expo China with its Food Technology exhibition.

Richard Li, General Manager of Messe Frankfurt (Shanghai) commented, “Realising the endless opportunities existing in the meat industry of China, now is the time for us to engage in the market. The joint operation between CIPC and Messe Frankfurt only stands to be positive. With our substantial history in organising successful trade fairs and our vast nexus of contacts, partnered with CIPC’s market knowledge and long history in the meat industry, this is bound to be a successful venture for both exhibitors and buyers in the burgeoning meat industry in China.”

Netsun’s Q1 revenue down 18%, 2014 revenue down 20%

News this week: Shenzhen-listed online sourcing platform, Zhejiang Netsun, released its financial results for the quarter ended 31^st March 2015. The company reported revenues of US$5.7 million, down 18% from the same quarter of last year. The company did not comment on the decrease in revenue. Net profit attributable to shareholders in the quarter dropped 19% year-on-year, to US$1.4 million. Earnings per share in the period were RMB 0.04 (US$0.0065).

For the financial year ended 31st December 2014, the Hangzhou-based company generated revenues of US$25.8 million, down 20% compared with 2013. Net profit attributable to shareholders in the year was US$5.4 million, up 1.3% from the previous year. Earnings per share in 2014 were RMB 0.16 (US$0.0258).

Baidu’s Q2 revenue jumps 34%

News this week: This week, leading Chinese-language Internet search provider, Baidu, announced its first quarter results for 2015. Revenues were US$2.1 billion, a jump of 34% over the same period last year. Net income was US$395 million, down 3.4% over the first quarter of 2014. Diluted earnings per share in the period were RMB 6.76 (US$1.09).

More than 98% of Baidu’s revenues were generated from its online marketing services. The number of active online marketing customers increased 17.5% to about 524,000 in the first quarter of 2015, while revenue per customer grew to US$3,839 – an increase of 13.9% over the corresponding period of last year.

Robin Li, chairman and CEO of Baidu, commented, “Mobile’s tremendous momentum continued this quarter, with mobile contributing 50% of total revenue. Baidu’s platform is comprehensive and robust, and we plan to fully exploit the huge growth potential ahead – in mobile marketing, online to offline, and key select verticals such as healthcare, education and financial services – by leveraging our solid mobile foundation, exceptional technology advantage, and proven operational experience.”

HKTDC’s gifts & premium show features 4,200 exhibitors

News this week: The 30^th edition of the Hong Kong Trade Development Council’s (HKTDC) Hong Kong Gifts & Premium Fair closes today. The exhibition attracted a record number of more than 4,200 exhibitors from 38 countries and territories at the HKCEC venue in Hong Kong’s Wanchai district. To recognise the 30^th edition of the event, the HKTDC set-up a special display charting the evolution of the exhibition over the past 30 years.

This year’s event also featured “premium zones” covering topics such as beauty products & accessories, fine porcelain gifts, health & wellness, etc. The exhibition also featured design awards and seminars covering topics including licensing opportunities, sustainable practices, and e-business opportunities.

At the same time, the HKTDC’s Printing & Packaging Fair opened at AsiaWorld-Expo on 27^th April and also closes today. This is the 10^th edition of this event and featured a record 420 exhibitors from Hong Kong, Belgium, Korea, Malaysia and Vietnam. The event covers printing and packaging products, services, industrial equipment as well as pre- and post-press logistics services.

Global Sources launches two new verticals

News this week: Earlier this week, NASDAQ-listed Global Sources officially announced the launch of its fashion vertical as well as a gifts & home vertical. The verticals connect buyers and suppliers across what Global Sources refers to as five media channels: an online marketplace, a magazine, alerts, a mobile app and their series of trade shows.

Several co-located shows close today at AsiaWorld-Expo including Fashion Accessories, Garments & Textiles, Underwear & Swimwear and the India Sourcing Fair: Garments & Accessories – as well as China Sourcing Fairs: Gifts & Premiums and Home Products.

Global Sources’ CEO, Spenser Au, commented “From product discovery to final orders, we help quality buyers find quality suppliers who establish long-term business partnerships. This is our 10th year holding the shows in Hong Kong and our shows have become a must-attend event for buyers in the gifts and home products industries. Top suppliers from China and across Asia showcase their newest products and this, in turn, attracts top buyers to attend every April and October.”

Friday, April 24, 2015

Japan to launch first defence industry trade show

News this week: Japan will host its first international defence industry trade show at Pacifico Yokohama from 13^th to 15^th May 2015. The MAST Asia exhibition and conference is focused on maritime security. The show launch coincides with the lifting of a ban on defence exports in 2014 by Japanese Prime Minister Shinzo Abe.

The Yokohama event, organised by MAST Communications, is expected to span 3,000 m² of exhibition space, and feature international delegates from countries including Australia, France, Germany, Malaysia, Norway, the Philippines, U.K. and U.S. Two of Japan’s largest defence contractors, Mitsubishi Heavy Industries and Kawasaki Heavy Industries, will join other exhibitors at the show.

Warren Edge, CEO of MAST Communications, said, “I’ve always had an interest to come here, but up until a few years ago, there was no appetite domestically for anything like this.” The organiser added that representatives of Chinese companies or its government will not attend, stating the decision to not invite them was taken “out of consideration of our hosts.”

UBM Asia expands health & beauty portfolio to Vietnam

News this week: UBM Asia, a subsidiary of UBM plc, will expand its health and beauty event portfolio to Vietnam with the launch of the new Vietbeauty show in 2016. The inaugural edition of Vietbeauty will be held from 18^th to 20^th August 2016 at Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City.

The event will be supported by the Ho Chi Minh City Cosmetics Association, the Vietnam Essential Oils, Aromatherapy and Cosmetics Association, and the Ho Chi Minh City Society of Plastic and Aesthetic Surgery. Exhibitor product categories will include cosmetics, skincare, hair care, nail care, spa and wellness products, beauty salons and aesthetic equipment and supplies. UBM expects to host more than 150 international suppliers at the event.

M. Gandhi, managing director of UBM Asia (ASEAN Business), said, “Given the opportunities arising from the country’s current economic growth, we chose to launch Vietbeauty to deliver a higher quality and level of business for buyers and manufacturers beyond what they have ever experienced before… Moreover, the event expects to have the strong participation of leading brands providing full packaging, labelling and ingredient sourcing for beauty manufacturers as well as seminars and events to improve the aesthetician skills for locals.”

1,900+ booths at Global Sources’ second phase electronics show

News this week: Earlier this week, Global Sources held the second phase of its spring electronics show featuring more than 1,900 booths focused on mobile electronics. The show ran from 18^th to 21^st April at the AsiaWorld-Expo (AWE). Exhibitor product categories covered smartphones, tablets, drones, wearables and accessories.

The two phases of Global Sources Electronics combined featured a total of 5,500-plus exhibitor booths, and is reportedly the world’s largest electronics sourcing trade show. Global Sources hosted several dedicated product zones during the second phase this week including the robotics experience zone, drones experience zone, wearable experience zone, brand zone, as well as a specialised area for mobile accessories with more than 1,100 booths.

Tommy Wong, president of Global Sources Electronics Group, said, “Over the past 10 years hosting our events in Hong Kong, we have focused on attracting quality-focused, innovative electronics suppliers from China and across Asia. Our electronics show has gained a reputation as a place to discover the most cutting-edge electronics products coming out of the region. This, in turn, has attracted the world's top buyers to attend our events.”

2,100+ exhibitors at HKTDC’s Houseware Fair

News this week: Earlier this week, the Hong Kong Trade Development Council (HKTDC) opened its Hong Kong Houseware Fair and Hong Kong International Home Textiles & Furnishings Fair at Hong Kong Convention and Exhibition Centre (HKCEC). The co-located shows ran from 20^th to 23^rd April.

The Houseware Fair, now in its 30^th edition, featured over 2,100 exhibitors from 36 countries and regions. First time participants from Cyprus, Egypt and South Africa and a total of 14 group pavilions showcased their products at the fair. New zones at the fair this year included bath, beauty & healthcare; festive décor; home cleaning; storage solutions; and wine tools & accessories.

The sixth Home Textiles & Furnishings Fair featured more than 240 exhibitors, including first time exhibitors from Belgium, Indonesia and New Zealand. One of the highlights at this year’s show was the premium “Hall of Glamour”, which showcased top-quality and branded household textiles.

Bangkok’s IMPACT hosted 1,000+ events in 2014-2015

News this week: IMPACT Exhibition and Convention Center recorded strong results in the 2014-2015 financial year, reaching its goal of hosting more than 1,000 events which generated a reported US$77 million in revenues.

In the first quarter of 2015, IMPACT generated US$24 million from 283 events, up from a total of 236 events and revenues of US$17 million during the corresponding period in 2014. The hosted events include meetings & conferences, weddings, parties, catering services, and exhibitions & concerts.

Paul Kanjanapas, managing director of IMPACT Exhibition Management Co., Ltd, said, “With our 2015 fiscal year, from April 2014 to March 2015, the number of events increases by 20%, or 166 more on top of 830 events coming close to our foreseeable target of 1,000 events yearly… All of these services will supplement additional revenue to the company, reaching that 2,500 million baht (US$77 million) target.”

China’s State Council releases latest directive on exhibitions industry

News this week: China’s State Council, headed by Premier Li Keqiang, has release an official directive which aims to boost development of the country’s exhibition industry. According to the lengthy guidelines, a ministerial joint conference, including a dozen central government departments, will be established to coordinate the formulation and implementation of new market rules.

The Chinese government has set a target to turn the country into a centre for exhibitions “with a sound development environment and a high level of internationalisation” by 2020. It also stated that licensing of economic and technological exhibitions will be gradually delegated to provincial-level commercial authorities.

Highlighting its desire to marketise the exhibitions industry, the government stated its aim to reduce the number of state-funded exhibitions, and encourage private organisers to take up the slack. It will also provide guidance to large-scale exhibition enterprises in partnerships, joint-ventures, mergers and acquisitions to establish industry-leading multinationals. Meanwhile, tax breaks and streamlined customs procedures will target small-scale exhibition companies to facilitate cross-border events.

Friday, April 17, 2015

Taiwan’s MICE events up 21% in 2014

News this week: The Taiwan External Trade Development Council (TAITRA) has recently released its 2014 MICE statistics reporting a total of US$1.23 billion in revenue generated from MICE activities during the year. The number of MICE events grew by 21% over 2013 reaching more than 500.

TAITRA’s flagship MICE promotion project, MEET TAIWAN, attributed the increases to leading trade shows including COMPUTEX, Taipei International Cycle Show, and the Taiwan International Boat Show. TAITRA also claims international trade visitors reached close to 190,000, and highlighted those originating from Japan, Korea, Malaysia, Singapore, Thailand, and Australia.

Walter Yeh, deputy secretary general of TAITRA, commented, “544 MICE events were registered in Taiwan last year. With the inauguration of new convention and exhibition facilities in the northern Taipei suburb of Nangang, the southern industrial area of Kaohsiung, and more planned for centrally located Taichung.”

Separately, MEET TAIWAN announced it will focus on cities in mainland China this year, including Urumqi, Shanghai, Suzhou, Harbin and Beijing, who are eligible for its FIT programme – where Chinese tourists can visit Taiwan as free independent travellers instead of being restricted to travel as part of a tour group. Sales missions are scheduled in 2015 with the first held this week August.

Hong Kong’s AWE to partner ZHICEC

News this week: Hong Kong’s AsiaWorld-Expo (AWE) will cooperate with the Zhuhai International Convention & Exhibition Center (ZHICEC), which opened in October 2014, to jointly hold events at the two venues.

A cooperation agreement was signed during the “Hong Kong and Zhuhai Convention and Exhibition Industry Cooperation Conference” by AWE’s CEO, Allen Ha, and ZHICEC’s Chairman, Pan Keqing. Under the terms of the agreement, the venues will implement a “one event, two venues” policy to attract more events.

According to Allen Ha, the cooperation between Hong Kong and western Guangdong will become closer after the completion of the Hong Kong-Zhuhai-Macau Bridge. The cooperation between AWE and ZHICEC is also believed to provide opportunities for developing the conventions business.

Friday, June 12, 2015

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