Asia Business Media

Messe Frankfurt partners to host pavilion at Shanghai textile show

noreply@blogger.com (Mark Cochrane) — Thu, 16 May 2013 08:51:00 +0000

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

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

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

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TTG revenue up 5% in Q1

noreply@blogger.com (Mark Cochrane) — Thu, 16 May 2013 08:49:00 +0000

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

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

HC International shows impressive growth in Q1

noreply@blogger.com (Mark Cochrane) — Thu, 16 May 2013 08:48:00 +0000

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

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

Global Sources revenue down, profit up

noreply@blogger.com (Mark Cochrane) — Thu, 16 May 2013 08:47:00 +0000

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

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

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

Alibaba buys interest in digital mapping firm

noreply@blogger.com (Mark Cochrane) — Thu, 16 May 2013 08:44:00 +0000

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

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

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

UBM expects high turnout at inaugural Singapore jewellery fair

noreply@blogger.com (Mark Cochrane) — Thu, 16 May 2013 08:44:00 +0000

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

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

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

Melbourne again misses out on expansion funds

noreply@blogger.com (Mark Cochrane) — Fri, 10 May 2013 09:07:00 +0000

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

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

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

Exhibitors at Canton fair shifts focus to domestic market

noreply@blogger.com (Mark Cochrane) — Fri, 10 May 2013 09:05:00 +0000

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

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

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

HKTDC April fairs see record exhibitor and visitor numbers

noreply@blogger.com (Mark Cochrane) — Fri, 10 May 2013 09:04:00 +0000

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

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

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

Deutsche Messe to launch new shows

noreply@blogger.com (Mark Cochrane) — Fri, 10 May 2013 08:58:00 +0000

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

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

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

Alibaba Group’s revenue up 80% in Q4

noreply@blogger.com (Mark Cochrane) — Fri, 10 May 2013 08:55:00 +0000

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

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

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

Baidu buys online video business of PPS

noreply@blogger.com (Mark Cochrane) — Fri, 10 May 2013 08:53:00 +0000

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

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

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

UBM optimistic about ASEAN’s exhibition market

noreply@blogger.com (Mark Cochrane) — Fri, 03 May 2013 09:56:00 +0000

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

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

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

Alibaba Group buys stake in Weibo

noreply@blogger.com (Mark Cochrane) — Fri, 03 May 2013 09:53:00 +0000

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

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

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

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

noreply@blogger.com (Mark Cochrane) — Fri, 03 May 2013 09:51:00 +0000

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

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

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

Baidu’s revenue up 40% in Q1

noreply@blogger.com (Mark Cochrane) — Fri, 03 May 2013 09:49:00 +0000

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

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

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

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

1,200 booths at Global Sources’ spring fashion shows

noreply@blogger.com (Mark Cochrane) — Fri, 03 May 2013 09:45:00 +0000

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

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

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

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

SCMP report: Hong Kong Government earmarks new venue site

noreply@blogger.com (Mark Cochrane) — Fri, 03 May 2013 09:41:00 +0000

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

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

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

Alibaba joins government to tackle piracy in China

noreply@blogger.com (Mark Cochrane) — Fri, 26 Apr 2013 09:00:00 +0000

News this week: China’s largest e-commerce company, Alibaba Group, announced it will partner with five key Chinese government and law enforcement agencies to fight pirated goods online and offline. These organisations will include the Ministry of Public Security, State Administration for Industry & Commerce, General Administration of Quality Supervision, State Intellectual Property Office, and General Administration of Press and Publication.

According to Alibaba at a company press conference, the company will work with the Government through reporting criminal activity, sharing of information, and professional training to identify and shut down factories and other sources of pirated goods. Alibaba reportedly removed a total of more than 94 million alleged infringing listings from its platforms in 2012.

Polo Shao, chief risk officer of Alibaba Group, said, “On e-commerce platforms, every single transaction creates a record, and every piece of information about sellers of counterfeit products is traceable. We are very pleased to be cooperating and coordinating with the appropriate governmental agencies on this important effort in offline and online enforcement.”

Exhibitors up 30% at HOTELEX Shanghai

noreply@blogger.com (Mark Cochrane) — Fri, 26 Apr 2013 08:58:00 +0000

News this week: Hospitality trade show HOTELEX Shanghai recently concluded to record-breaking attendance at the Shanghai New International Expo Center (SNIEC) covering an exhibiting area of 130,000 m². Co-organised by the Shanghai Tourism Bureau, China Tourism Hotel Association and Shanghai UBM Sinoexpo, HOTELEX Shanghai attracted more than 1,500 exhibitors and 70,000 visitors from 1^st to 3^rd April 2013 – a growth of 30% and 36% respectively over 2012.

This edition of HOTELEX featured an International Premium Area (IPA) for first-tier industry players, as well as VIP programmes for professional buyer groups. Sub-events this year also included the Hotel Uniform Show Competition, Wine-tasting Area, the China Gelato Championship and World Latte Art Championship.

Netsun’s revenue up 45% in Q1

noreply@blogger.com (Mark Cochrane) — Fri, 26 Apr 2013 08:57:00 +0000

News this week: Shenzhen-listed online sourcing platform, Zhejiang Netsun released its financial results for the year 2012. The company reported revenues of US$26 million, up 11% from 2011. Net profit attributable to shareholders in the year was US$5.8 million, a year-on-year growth of 12%. Earnings per share in the year were RMB 0.22 (US$0.035).

Netsun’s two largest business segments, information promotion services and online services, both generated about US$8.0 million, which accounted for 31% of total revenues.

The Hangzhou-based company also announced its results for the quarter ended 31^st March 2013. Revenues were US$8.3 million – an increase of 45% compared with the same quarter of 2012. However, net profit attributable to shareholders in the period dropped 6.4%, down to US$1.6 million. Earnings per share in the quarter were RMB 0.06 (US$0.0097).

Reed expects a strong year in 2013

noreply@blogger.com (Mark Cochrane) — Fri, 26 Apr 2013 08:56:00 +0000

News this week: London-listed media group Reed Elsevierreleased an interim management statement for the first quarter of 2013. Although no actual figures were reported, overall, Reed’s management expects “2013 to be another year of underlying revenue, profit, and earnings growth”.

Excluding biennial exhibition cycling and timing, revenue growth rates of the company’s exhibitions business were maintained at levels similar to the second half of last year, noting in particular that the U.S., Brazil, Japan and emerging markets performed well in the quarter, while Europe saw modest growth.

Looking ahead, Reed’s management expects growth to be good in the U.S. and Japan, but limited in Europe, while strong in other markets. The company also reduced its revenue growth forecast for exhibitions business to 5%-6% in 2013 due to the cycling out of shows.

UBM’s revenue and profit down in Q1

noreply@blogger.com (Mark Cochrane) — Fri, 26 Apr 2013 08:55:00 +0000

News this week: Earlier this week, London-listed UBM plc released its results for the quarter ended 31^st March 2013. UBM’s revenues were down 7.9% year-on-year from £211.5 million to £194.7 million. Adjusted group operating profits decreased 24% from £46 million to £35 million.

Revenues from the company’s events business, which accounted for more than half of overall revenue, were down 9.7% year-on-year at £109.4 million, compared with last year’s £121.1 million. Adjusted group operating profits decreased from £42 million to £30 million, down 29%. The company attributed the decrease to effects of biennial show cycling and the movement of events between quarters, but noted that shows in the U.S. and emerging markets performed well.

David Levin, CEO of UBM, said: “UBM had the tough first quarter we anticipated, with Events revenues reflecting declines in our UK Built Environment shows. Our portfolio of events in the US and Emerging Markets performed well. Forward bookings are tracking in line with our expectations and we continue to expect strong growth through the balance of the year, particularly in our Emerging Markets events which are weighted to the second half.”

Global Sources acquires stake in Chinese machinery exhibition

noreply@blogger.com (Mark Cochrane) — Fri, 26 Apr 2013 08:53:00 +0000

News this week: NASDAQ-listed Global Sources announced an agreement has been made to acquire a proportion of the Shenzhen International Machinery Manufacturing Industry Exhibition (SIMM) and its related trade shows. According to the terms of the agreement, Global Sources will acquire a 70% stake in the Shenzhen International Machinery Automation Exhibition and the Shenzhen International Mould Making Technology & Product Exhibition, and a 56% stake in the Shenzhen International Cutlery & Tools Exhibition and the Shenzhen International Metal Processing Industry Exhibition.

Subject to closing conditions, the cost of the acquisition will range from approximately US$11 million to US$16 million depending on the level of its performance. The last edition of SIMM was held from 28^th to 31^st March 2013 at the Shenzhen Convention and Exhibition Center, and attracted around 4,600 booths and more than 75,000 visitors.

Merle A. Hinrich, executive chairman of Global Sources, stated, “Our ownership interest in SIMM further assists us to establish a strong presence in a fast-growing market in China. With SIMM’s dominant presence in the machinery industry, combined with Global Sources’ globally established media platform, the partnership enables both parties to take advantage of this exciting opportunity.”

Alibaba re-launch mobile OS, unveils new online storefronts

noreply@blogger.com (Mark Cochrane) — Fri, 19 Apr 2013 07:51:00 +0000

News this week: China’s largest e-commerce company Alibaba Group has re-launched its mobile operating system (OS) under the new moniker, Alibaba Mobile Operating System (AMOS), following a last minute cancellation last September when Google stepped in to halt the company’s launch press conference with computer manufacturer Acer.

As part of the company’s push to gain adoption of AMOS, Alibaba will subsidise handset makers RMB 1 (US$0.16) a month for every AMOS-handset sold, and has also setup a US$162 million fund to encourage mobile app developers to build apps for AMOS through a revenue sharing scheme.

Separately, Alibaba.com, Alibaba’s B2B subsidiary, unveiled a free “mini-site” service that offers its Gold Suppliers to customise the design of their online storefront and homepage layout. Alibaba reports that more than 12,000 China Gold Supplier members have switched to the new service since its launch two months ago.