Share price movement in B2B media companies involved in Asia
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Read MoreInforma Markets' September Hong Kong Jewellery & Gem Fair has been rescheduled to November and it will be held at one venue (AWE) instead of the usual two venues. For the new November dates to work, travel restrictions will need to have been significantly eased as this event typically attracts visitors and exhibitors from 100+ countries. And the 2020 June Jewellery & Gem Asia Hong Kong (a smaller event) has been cancelled. Next edition will be June 2021 after surveyed exhibitors preferred that option.
After consulting their exhibitors and visitors, Koelnmesse opts to cancel its own events until the end of October. There is an important point here. The exhibition industry may be keen to organise events and local government may allow it, but until the exhibitors and visitors feel confident, events are not going to restart in any meaningful way.
RAI is expecting to lose €20 million this year and as a result, the company will lay off 125 employees. Total staff employed is currently 483. Unfortunately, this is likely the first of many announcements like this from around the world.
Quanzhou, Fujian, 7th July: A new convention and exhibition venue, Jinjiang International Convention and Exhibition Center (JJCEC), opened in Quanzhou in Fujian province last month.
JJCEC, managed and operated by Pico Far East Holdings, is a large-scale, modern multi-purpose complex, offering full-fledged exhibition and convention facilities in Quanzhou. Featuring a site area of 120,000 m2, the venue provides 40,000 m2 of exhibition space across four exhibition halls.
China, 8th July: Singapore-based SingEx Exhibitions will organise its second large-scale physical event this year in Shanghai later this month, following the first event in Guangzhou in June.
The Shanghai International Epidemic-Prevention Material and Equipment Fair, organised by Worldex-SingEx Exhibitions, will run from 15th to 16th July. The event will feature products and services useful in battling the COVID-19 outbreak. As with the Guangzhou event, the Shanghai exhibition will have in place strict hygiene and safety measures.
Taiwan/Australia, 7th July: After lifting restrictions on domestic meetings and events on 11th June, Taiwan reports strong demand for business events. More than 50 events are scheduled to be held before the end of July.
In Taiwan, the events will have to follow guidelines set by the authorities to ensure the health and safety of delegates. As of 3rd July, Taiwan recorded a total 447 confirmed COVID-19 cases and seven deaths.
In less positive news, in Melbourne, the authorities have locked down the city for the second time after recording 191 new COVID-19 cases overnight. State premier Daniel Andrews said the lockdown would last at least six weeks.
China, 6th July: Media 10 announced plans to form a new joint venture with Guangzhou Dreampix to produce a series of new events, ChuMan Festivals, with the aim of capitalising on the growing pop culture market in China.
The ChuMan Festivals will be held in major cities in China – including Shanghai and Chongqing – leveraging the popularity of the Touch Manga platform. The events will feature comics, collectibles, cosplay, games, education and retail, enabling visitors to meet fellow users, see their favourite artists, watch stage shows and shop from hand-picked exhibitors.
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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.
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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.”
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