Share price movement in B2B media companies involved in Asia
/Share price movement
Read MoreWeekly Newsletter
Share price movement
Read MoreParis, 29th June: Earlier this week, UFI – The Global Association of the Exhibition Industry announced its decision to cancel the 2020 UFI Asia-Pacific Conference and the Digital Innovation Forum which were both originally scheduled to be held in Macau in early March and were subsequently rescheduled in late August. The decision was entirely driven by the ongoing COVID-19 outbreak and the travel restrictions affecting most Asian markets.
At the same time, UFI also announced that the UFI Asia-Pacific Conference will return to Macau in 2022, but before that in 2021, the UFI Asia-Pacific Conference will be held in Melbourne – marking the first time in the event’s history that it will be held in Australia.
Hong Kong, 28th June: As international exhibitions are still unable to proceed in most markets around the world, organisers are increasingly turning to online sourcing events as an alternative. Hong Kong, which heavily relies on international exhibitors and visitors at its B2B exhibitions, has been particularly hard hit as many organisers move to quickly shift events to online platforms.
The Hong Kong Trade Development Council (HKTDC), a major exhibition organiser in Hong Kong, will organise a Sourcing Summer Virtual Expo running from 29th June to 24th July. Key products at the Summer Virtual Expo include consumer electronics, gifts, kitchenware, medical supplies, outdoor sporting equipment, clothing and related accessories. The HKTDC maintains that it will potentially connect more than 500,000 buyers with 22,000 suppliers.
Hong Kong/Thailand, 30th June: Thailand plans to reopen to business travellers from five key markets: Mainland China, Hong Kong, Japan, South Korea and Singapore. The numbers, at least at the start, are expected to be strictly limited.
Officials from both Hong Kong and Thailand have reportedly started negotiations aimed at creating a so-called “travel bubble” between the two destinations. Media reports suggest that a bilateral agreement between Thailand and Hong Kong is expected to be signed in July – and that is will perhaps cover tourism as well as business travel.
Seoul, 25th June: Authorities in Seoul have approved the plans for a new exhibition and convention centre. The developers of the Jamsil MICE Complex maintain that it will enable Seoul to better compete with Hong Kong and Singapore for international business events.
The complex, to be built on the grounds of the Jamsil Sports Complex, is expected to begin construction in 2022 and be completed in 2025. It will cover an area of nearly 335,000 m2 featuring a convention venue, a 900-room hotel and sports facilities. The complex will feature a total area of 120,000 m2 dedicated to exhibitions and conferences.
Werner M. Dornscheidt joined Messe Düsseldorf 37 years ago. He has been President and Chief Executive Officer for nearly 17 years.
As of 1st July the European Union has loosened travel restrictions with dozens of countries around the world.
After more than six months Messe Nürnberg is back to business in China with BIOFACH CHINA, NATURAL EXPO CHINA and CRAFT BEER EXHIBITION & CONGRESS – all B2B exhibitions.
Share price movement
Read MoreMalaysia, 18th June: The Malaysian government has allowed business events with up to 250 participants to restart. However, the events can only be held in Malaysia’s so-called “green zones” – i.e. districts with no active COVID-19 cases. As a result of this, the Kuala Lumpur Convention Centre (KLCC) will recommence operations and take bookings for events to be held after 1st July 2020.
According to the government, the “new normal” approach for business events will need to be applied recognising the critical role health, safety and hygiene in events going forward.
Hong Kong, 22nd June: Last week, Hong Kong-listed Pico Far East Holdings announced its interim results for the six months ended 30th April 2020. Revenues were US$241 million, a 24% decrease year-on-year. Profits from core operations in the six-month period dropped 56%, down to US$11 million. Diluted earnings per share in the first half of the financial year were HK$0.0195 (US$0.0025).
According to Pico, the company’s operational results were on target before the COVID-19 outbreak in January 2020. However, due to the outbreak, operations in essentially all of the company’s key markets ceased.
Hong Kong, 23rd June: In some positive news, the Hong Kong Trade Development Council (HKTDC) announced the 31st HKTDC Hong Kong Book Fair will be held from 15th to 21st July 2020 at the Hong Kong Convention and Exhibition Centre (HKCEC).
This year’s theme is “Inspirational and Motivational Reading,” with the tagline “Reading the World – Inspiring the Mind and Refreshing the Soul.” More than 730 exhibitors will participate in the Book Fair – and the co-located Hong Kong Sports and Leisure Expo. According to the HKTDC, during the fair and the citywide “Cultural July” campaign, over 600 online and offline cultural events will be organised including thematic exhibitions at the Art Gallery at the HKCEC.
There is a lot of talk from several Asian countries, but nothing concrete yet. Japan is reportedly looking at Australia, New Zealand, Thailand and Vietnam.
Singapore is set to permit travellers transiting from selected cities in Australia, China, Korea, Japan, and New Zealand.
Most German trade fairs to resume by September.
Eddie Choi looks at possible measures to be put in place at future events.
Paris, 18th June: UFI, the Global Association of the Exhibition Industry, has announced the results of the leadership elections in its four regional chapters: Asia-Pacific, Europe, Latin America and Middle East/Africa. The elected industry leaders will begin their three-year mandate in November 2020.
In Asia-Pacific, David Zhong (VNU Exhibitions Asia, China) was re-elected as Chapter Chair and the three Vice Chairs will be Rita Chu (1st Vice Chair, Adsale Exhibition Services, Hong Kong), Panittha Buri (BITEC, Thailand), Emilia Shih (TAITRA, Taiwan).
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.
Share price movement
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.
Business Strategies Group is the only market intelligence & strategy consulting firm in Asia with a special focus on business media, information and events. Our services include research, market intelligence, mergers and acquisition support and strategy development.
Subscribe to our free brief industry newsletter to receive a weekly update on the latest in B2B media in Asia.