Asia Business Media

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.