Share price movement in B2B media companies involved in Asia
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Share price movement
Read MoreHong Kong, 9th June: Hong Kong-based Pico Far East announced that Pico+ has formed a strategic alliance with China Mobile’s Migu Video Technology to create online virtual events, exhibitions and other “innovative platforms.”
Read MoreAsia, 9th June: As the number of active COVID-19 infections continues to drop in Asia, some countries in the region plan to allow international flights and to establish “travel bubbles.”
In Vietnam, international flights have been suspended since 25th March with a few exceptions and foreign nationals have been banned entry since 22nd March. The Vietnamese government now plans to resume the flights to and from countries that have had no new cases of COVID-19 for 30 days – although that is likely to be a short list of countries.
Singapore and China have created a “fast lane” for essential business and official travel between the two countries, allowing travel between Singapore and six provinces and municipalities in China (Chongqing, Guangdong, Jiangsu, Shanghai, Tianjin and Zhejiang).
Singapore, 15th June: The Singapore government announced most businesses and social activities will be allowed to resume on 19th June as the city moves into “Phase 2” of its reopening plan.
Read MoreBeijing, 16th June: Beijing recorded 31 new coronavirus infection cases as of 16th June, bringing the total number of infections to 136 over the previous six days – with 12 neighbourhoods being classified as “COVID-19 middle-risk areas” as of 15th June. The authorities in Beijing have now classified a total of 22 neighbourhoods as COVID-19 middle-risk areas. The Fengtai district, where the Xinfadi wholesale market is located, is the only area of high-risk in China.
Read MoreInforma Markets is partnering with e-commerce technology provider NuOrder to launch a digital show this fall for the fashion apparel industry. It could take the world’s largest commercial organiser in an interesting direction.
We can expect mixed results as China’s largest trade show takes an unplanned run at a purely digital edition. It may have to do it all over again for the autumn edition.
This large and important event was delayed from June to September and now finally it has been cancelled. This is not a good sign for large international B2B exhibitions planned in the region for September and October. Taiwan has long had COVID-19 under control, but the same cannot be said for the 170+ countries that send visitors and exhibitors to Computex each year.
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Read MoreIt is difficult to tell where all of this is headed, but there is certainly a lot of action and change in the virtual events space.
Local Hong Kong exhibition organiser, TKS Exhibitions, is pushing ahead with its travel trade show, ITE Hong Kong 2020, in August. Hopefully that is a sign of good things to come for both the events industry and the travel industry.
The New York Times reports that the “publishing industry’s annual event, normally staged at the cavernous Javits Center, moved some programming online and reached a big digital crowd.” But does a big digital crowd equal a real success for the exhibitors?
The Hong Kong government will put US$5 billion into ailing Cathay Pacific. After the transaction, the government will own about 6% of the airline. Hopefully, this will be enough to get Cathay back in the air. The Swire Group currently owns 45%. Air China owns 30% and Qatar Airways owns 10%.
Business Traveller article and Bloomberg article
Last week, Hong Kong announced that it would remove quarantine requirements for visitors from Mainland China on 7th July and other international destinations on 18th September. This week Singapore is considering opening it borders to China and Malaysia.
Korea, 26th May: Recently, the Korea MICE Bureau (KMB) introduced a new support program for Korean conventions, meetings and incentives affected by the COVID-19 global pandemic.
Read MoreParis/Oman, 9th June: Due to the COVID-19 pandemic, UFI, the Global Association of the Exhibition Industry, has decided to make changes to its annual Global Congress. The original host of the 2020 Congress, the Oman Convention & Exhibition Centre (OCEC), will now host the event in 2022 – and in 2021 the UFI Global Congress will be held in Rotterdam.
Read MoreBangkok, 5th June: The Thai-listed subsidiary of Pico Far East Holdings, Pico Thailand, released its results for the quarter ended 30th April 2020. Revenues in the quarter were US$4.0 million, representing a year-on-year decrease of 68%. The company posted a net loss of US$791,000, compared with a profit of US$492,000 in the same quarter last year.
Read MoreDallas, 5th June: The Center for Exhibition Industry Research (CEIR) released its report on exhibition activity in the U.S. in the first quarter of 2020. The CEIR Total Index, a measure of the U.S. exhibition industry’s performance, posted a 15.1% decline in the first three months of the year.
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Read MoreSingapore, 27th May: Most businesses in Singapore will reopen in July, however, its aviation and tourism industries will not fully reopen for a longer period of time. As a result, the Singapore government has rolled out its fourth budget subsidy amounting to S$33 billion (US$23 billion) to support affected Singaporean businesses.
Read MoreWorldwide, 1st June: Several exhibitions have now been held in China including in Changsha, the capital of Hunan province. The Hunan Auto Show ran from 30th April to 5th May at the Hunan International Convention and Exhibition Centre. More than 100 car brands showcased some 600 vehicles at the show covering an exhibition area of 60,000 m2.
Read MoreThe Chinese e-commerce giant is increasingly targeting the U.S. market and the trade show industry.
The organiser’s August jewellery event will feature a virtual platform for international buyers who cannot attend. Hong Kong will still have quarantine measures in place for international arrivals in August – and the event’s venue, AsiaWorld-Expo, is currently a testing site for COVID-19.
Made-in-China.com will hold online “simultaneous events” beginning on 15th June which will “create digital, immersive and convenient sourcing experience for global buyers.”
Perhaps driven in part of by lockdowns and the unprecedented challenges faces the industry, GED resulted in record engagement – over 7,000 mentions on social media and delivered “reach” of over 650 million with over 100 countries participating.
International exhibition organiser, Messe München, appointed Michael Wilton as the new General Manage in Singapore, effective 1st June 2020.
Paris/Melbourne, 28th May: Last week, UFI – The Global Association of the Exhibition Industry, announced that the 2021 Asia-Pacific Conference will be held in Australia for the first time. The dates will be announced in the coming weeks, but this event is typically held in late February or early March.
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Read MoreHangzhou, 22nd May: Earlier this week, China’s largest e-commerce company, the Alibaba Group, announced its financial results for the year ended 31st March 2020. Revenues were US$72 billion, representing year-on-year growth of 35%. Net income in the year jumped 70% to US$21 billion. Diluted earnings per share in the year were RMB 55.93 (US$7.90).
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