Friday, May 29, 2015
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 18th 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.”
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 1st 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.
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 7th to 9th 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.”
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 17th to 20th November.
The previous edition of the biennial Labelexpo India took place at Pragati Maidan from 29th October to 1st 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.”
News this week: Taiwan will hold its first metal industry exhibition, International Metal Technology Taiwan, at the Kaohsiung Exhibition Center (KEC) from 2nd to 4th 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.
News this week: Coinciding with the venue’s 10th 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 10th anniversary.”
Friday, May 22, 2015
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.”
News this week: Hong Kong-listed Sino Splendid (formerly China.com) has reported its first quarter results ended 31st 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.
News this week: Last week, Hong Kong-listed HC International announced its results for the quarter ended 31st 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).
News this week: Yesterday, NASDAQ-listed Global Sources released its financial results for the first quarter ended 31st 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.”
New this week: This week, the 6th 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 18th to 20th 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.”
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 15th to 18th 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.
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Friday, May 15, 2015
News this week: The 117th China Import and Export Fair (Canton Fair) concluded its spring edition on 5th 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.
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.”
News this week: Hong Kong-listed, mainland media group, CCID Consulting, released its quarterly result for the three months ended 31st 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.
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.
News this week: This week, U.K.-based exhibition organiser, ITE Group, reported its interim results for the six months ended 31st 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.
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 7th to 8th 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.”
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
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.
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.
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.
News this week: Shenzhen-listed Focus Technology, the operator of Made-in-China.com, released its financial results for the quarter ended 31st 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 31st 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.
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 1st 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.”
News this week: Yesterday, China’s largest e-commerce company, Alibaba Group, announced its results for the quarter and the fiscal year ended 31st March 2015. For the quarter ended 31st 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 31st 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 10th May 2015. Alibaba Group’s current CEO, Jonathan Lu, will remain on the company’s board of directors as vice chairman.