Asia Business Media

Friday, May 15, 2015

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.

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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.