Asia Business Media

Friday, December 21, 2012

Global Sources’ Private Sourcing Events deemed a success in 2012

News this week: NASDAQ-listed Global Sources announced the company’s series of Private Sourcing Events successfully served more than 320 sourcing teams from over 100 buying organisations in 2012.

The company’s Private Sourcing Events match international buyers with pre-screened large-volume suppliers that can deliver quality products. In 2012, Global Sources reported that over 1,500 high-quality, one-to-one selling opportunities took place between buyers and suppliers.

According to Global Sources, in the first half of 2013, more than 40 Private Sourcing Events are planned, and some of the biggest buyers in developed and emerging markets will participate.

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Sydney to invest US$1.6m to support conference segment

News this week: In a bid to develop the local conference industry, the City of Sydney will invest A$1.5 million (US$1.6 million) in Business Events Sydney (BESydney) over the next three years.

The independent, not-for-profit BESydney is set to receive A$500,000 (US$533,000) annually in the next three years to promote the city as a global business events destination. BESydney has reportedly confirmed 103 events for Sydney which will bring an estimated US$241 million and attract 58,000 visitors.

Deputy premier of New South Wales (NSW), Andrew Stoner, said, “As part of an aligned economic development strategy, these events also stimulate trade and investment opportunities for local businesses, fuel knowledge exchange, and more broadly promote innovation and productivity.”

HKTB appoints new GM of MICE & Cruise

News this week: The Hong Kong Tourism Board (HKTB) announced the appointment of Kenneth Wong as general manager of MICE & Cruise with immediate effect. Prior to his new role, Wong was Head of Product Marketing at the HKTB.

In his new role covering the MICE industry, Wong will oversee the development and implementation of business strategies of the Meetings and Exhibitions Hong Kong (MEHK) Office to continue to provide support to the industry and attract more international, world-class events to Hong Kong. For the cruise industry, he will be tasked with strengthening partnerships with cruise line operators and industry players to expand Hong Kong’s cruise tourism.

Executive director of HKTB, Anthony Lau commented, “I believe that with Ken’s extensive experience and knowledge in tourism and marketing, as well as your staunch support, we will be able to further strengthen Hong Kong’s positioning as the leading MICE destination and cruise hub in the region and reap greater benefits for our mutual business.”

Auto Expo India relocates to Greater Noida venue

News this week: The biennial India Auto Expo motor show will relocate from its current venue at Pragati Maidan in New Delhi to the India Expo Centre and Mart in Greater Noida at the next edition. The change was based on serious traffic and visitor management problems reported by attendees and the Indian Trade Promotions Organisation (ITPO) at this year’s show.

Auto Expo was last held from 7^th to 11^th January 2012, and will be changed to run from 6^th to 12^th February 2014. According to the Society of Indian Automobile Manufacturers (SIAM), the change in timing and venue was mainly to avoid clashing with the Detroit Auto Show in the U.S. and availability at Pragati Maidan.

The relocated 2014 show is expected see an increase of 25% in floor space. A trial show for bus and utility vehicles will be held next year on 15^th to 18^th February.

Malaysia expects event industry revenues of US$294 mil

News this week: The Malaysia Convention & Exhibition Bureau (MyCEB) is forecasting revenues generated by international events in Malaysia to reach US$294 million in the 2012 financial year.

According to Tony Nagamaiah, general manager of International Events at MyCEB, as of the end of November 2012, total revenues reached US$249 million. Although it is worth noting that the total number of international events held in Malaysia in 2012 was slightly lower than the year before. A total of 189 international events were held in 2011 versus 179 this year.

In a separate report, MyCEB also announced the appointment of Shazrina Othman as its new public relations and communications manager. Ms. Othman will work under the bureau’s communications team and report directly to Ho Yoke Ping, general manager of sales and marketing.

Taobao removed from U.S. list of “notorious” pirate markets

News this week: Last week, the Office of the U.S. Trade Representative (USTR) announced the removal of Alibaba Group’s consumer-focused e-commerce platform, Taobao, from its list of “notorious markets” of pirated and counterfeit goods.

The USTR’s annual report names websites and physical venues “that have a negative impact on legitimate businesses and industries of all sizes that rely on intellectual property to protect their goods and services.”

In April this year, Alibaba hired James Mendenhall, a former general counsel of the USTR, to aid its discussions with the U.S. government and industry groups in an attempt to have Taobao removed from the list.

John Spelich, spokesman for Alibaba Group, commented, “We would like to thank the USTR for the acknowledgment of our efforts. The IPR issue is a long march in China, this is a milestone and it is only the beginning.”

Friday, December 14, 2012

Penang to build US$113m convention centre

News this week: Singapore-based, Suntec International has signed a partnership agreement with IJM Land to jointly develop the Penang Waterfront Convention Centre (PWCC) at an estimated cost of US$113 million. Construction work on the waterfront venue will begin next year and it is expected to be completed by 2017.

The PWCC is part of a US$1.6 billion project that will also include hotels, malls, retail outlets and a marina over 102 acres of reclaimed land space. Under the partnership agreement, Suntec will be involved in the designing, marketing and operational management of PWCC. Facilities at the venue will include a 10,000 m² multi-purpose hall which will be convertible into a 9,000-seat arena.

Lim Guan Eng, Penang’s Chief Minister commented, “It will be in addition to the Penang International Sports Arena (Pisa) which is currently being developed into the Subterranean Penang International Conference & Exhibition Centre (sPICE)… It is good to have two international-standard convention centres in Penang to cater to more international business events. I am also confident that PWCC will serve the manufacturing industry well since major multinational companies are located on both the island and the mainland.”

New venue in Pune approved

News this week: The Pune International Exhibition and Convention Centre (PIECC) has been approved by the local authorities and construction will soon commence.

PIECC is scheduled to be completed by 2017 and it will feature floor space of 13,000 m² and seating capacity of 20,000. Overall, the facility will consist of exhibition space, a convention centre, a golf course, a five-star hotel, a business complex, shopping malls and residences.

The venue will be developed by the Pimpri-Chinchwad New Town Development Authority. After completion, a private sector company will be appointed to market the PIECC to an international audience.

Sushil Wadhwa, chairman, Platinum Incentives, a MICE service provider commented, “In India, the domestic demand for large MICE spaces is high and the sooner the PIECC is functional, the better it will be for the industry. With many international corporations and global associations looking at India to host their events, this will be a huge boost for the MICE trade in India.”

Taobao surpasses 1.2 million users in Hong Kong

News this week: Hangzhou-based e-commerce giant, the Alibaba Group announced that its consumer-focused platform, Taobao, has surpassed 1.2 million registered users in Hong Kong as of September this year. The closely followed the announcement in June this year after Taobao Hong Kong broke through the one million mark.

Taobao’s management stated that its next priority is to improve users’ shopping experience by further streamlining logistics and offering additional payment methods. Taobao recently partnered with 7-Eleven in Hong Kong to offer electronic vouchers at more than 920 stores across the city.

Earlier this month, Alibaba announced that Taobao.com and Tmall.com achieved 1 trillion yuan (US$160 billion) in gross merchandise volume (GMV) as of the end of November. In 2011, the company’s GMV totalled 632.1 billion yuan (US$101 billion).

Pico Thailand’s revenues and profits slide

News this week: Pico Thailand, the Thai-listed subsidiary of Hong Kong-based Pico Far East Holdings, released its results for the financial year ended 31^st October 2012. The company posted revenues of US$42 million, a decline of 5.4% compared with the previous year. Pico Thailand recorded a net profit of US$2.1 million this year, a year-on-year 13% decrease. Earnings per share in the financial year were Baht 0.377 (US$0.0123).

Pico Thailand’s management did not provide any commentary to explain the reasons of the decline in revenue and profit. The company’s financial statements do reveal that selling expenses and administrative expenses increased by 132% and 13% year-on-year, respectively.