Weekly Newsletter
Beijing, 28th February: GL events announced plans to acquire 55% of CIEC Union, subject to approval from the Ministry of Commerce of the People’s Republic of China (MOFCOM). Financial details for the acquisition were not released.
Read MoreHong Kong, 27th February: Mega Expo, formerly known as Kenfair, a Hong Kong-based exhibition organiser, recently reported its interim results for the six months ended 31st December 2018. The company reported revenues of US$36 million, representing growth of 284% year-on-year. However, Mega Expo posted a net loss of US$16 million in the same six-month period, compared with a net profit of US$5.8 million in the same period in 2017.
Read MoreBeijing, 21st February: Last week, Baidu, the leading search engine in China, released its results for the financial year 2018. Revenues were US$15 billion for the financial year 2018, representing a year-on-year 28% increase. Net profit in the year grew 51%, reaching US$4.0 billion. Diluted earnings per share in 2018 were RMB 78.03 (US$11.35).
Read MoreLondon, 27th February: Earlier this week, London-based Tarsus Group announced its year-end results for 2018. The group reported revenues of £100 million (US$127 million) – up 46% compared with 2016. In 2018, the company recorded 45% growth of adjusted profit before tax compared with 2016, reaching £28 million (US$35 million). The number of buyers attending Tarsus’ shows during the year increased 10% on a like-for-like basis.
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Read MoreNanjing, 1st February: Last week, Focus Technology, the holding company of Made-in-China.com, reported its financial results for the year ended 31st December 2018. Total revenues were US$127 million in the year, which represents a year-on-year decrease of 28%. Net profit for the year recorded a decline of 23% down to US$8.2 million. The diluted earnings per share in 2018 were RMB 0.24 (US$0.035).
Read MoreBangkok, 14th February: Last week, Business Online (BOL), a leading online information service provider in Thailand, announced that it recorded revenues of US$15 million for the year ended 31st December 2018, representing a 12% year-on-year increase. BOL’s net profit jumped 36% reaching US$3.2 million. Diluted earnings per share in 2018 were Baht 0.13 (US$0.0039).
Read MoreLondon, 21st February: Yesterday, the RELX Group (formerly Reed Elsevier) released its financial results for the year ended 31st December 2018. Total revenues were £7.5 billion (US$9.5 billion), representing an underlying increase of 4%. Adjusted operating profit increased by 6% to £2.3 billion (US$3.0 billion).
Read MoreAustralia, 18th February: Tourism Australia’s Business Events Bid Fund Programme (BFP) has reportedly doubled the value of business events secured in Australia in the past three months reaching A$187 million (US$134 million).
Read MoreJakarta, 12th February: The Indonesia Motorcycle Show (IMOS), one of the largest motorcycles shows in Indonesia, has been acquired by Comexposium. The acquisition is expected to be officially completed in the first quarter of 2019. No financial details were released. IMOS will be organised by Seven Event, a joint venture between Comexposium and Amara Pameran Internasional (API).
Read MoreChina, 18th February: Earlier this week, international exhibition organiser, Messe Düsseldorf, announced management changes. Marius Berlemann will become the General Manager of Messe Düsseldorf Shanghai Limited and Bastian Mingers will serve as the Global Head of Wine & Spirits (including the ProWein trade fair portfolio). Both new roles are effective as of 1st April 2019.
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Read MoreTokyo, 31st January: Messe Frankfurt, an international exhibition organiser, will launch a new childcare and education trade fair in Japan, Child Edu & Care Japan. It will run from 7th to 8th June 2019 at the Shinjuku NS Building in Tokyo.
Read MoreParis, 5th February: Earlier this month, UFI, the Global Association of the Exhibition Industry, released its latest biannual, Global Barometer Survey, designed to assess the state of global trade show industry. All four global regions in the survey (Americas, Asia-Pacific, Europe, and the Middle East-Africa) reported an expected increase in organiser revenues.
Read MoreSingapore, 1st February: The Suntec Singapore Convention and Exhibition Centre has announced that in 2018, the venue hosted more than 1,600 events. In addition, in 2019, Suntec will host 88 major annual events.
Read MoreKuala Lumpur, 31st January: According to the venue in 2018, Kuala Lumpur Convention Centre (KLCC) created an economic impact of more than RM 888 million (US$218 million) for the Malaysian economy. The venue also attracted a total of almost 2.2 million visitors.
Read MoreSingapore, 31st January: The Singapore Association of Convention and Exhibition Organisers and Suppliers (SACEOS) has released an official statement on the official appointment of its new president, Mr. Aloysius Arlando, effective immediately. Arlando replaces Janet Tan-Collis who successfully led SACEOS for several years.
Read MoreSingapore, 12th February: Earlier this week, MP International, part of the Pico Group, announced that the company has acquired “a significant stake” in the FUTR Group (formerly Millennial 20/20), a global trends, innovation and summit events business. Financial details of the acquisition were not disclosed.
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Read MoreHangzhou, 29th & 30th January: Earlier this week, the Alibaba Group, the largest e-commerce company in China, announced its results for the quarter ended 31st December 2018. The company reported total revenues of US$17 billion, up 41% year-on-year. The group’s net income grew 37% reaching US$4.8 billion.
Revenues from Alibaba’s China B2B business, primarily generated through 1688.com, were US$392 million. This represents an increase of 40% over the same quarter last year. The company’s international B2B business, primarily operating through Alibaba.com, generated revenues of US$361 million. That is growth of 31% year-on-year. In total, Alibaba’s B2B revenues for the quarter accounted for just 4.2% of the Group’s overall revenues.
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