BOL net income jumps 32% in Q2

Bangkok, 5th August: Last week, Business Online (BOL), a leading online information service provider in Thailand, reported its financial results for the quarter ended 30th June 2021. Revenues during the quarter were US$5.4 million, representing a year-on-year increase of 4.3%. The company’s net income grew by 32%, reaching US$2.1 million.

The company attributed the increase in net income to the growth in revenues from special projects and other income, including gains from exchange rate adjustment and a reversal adjustment of doubtful expenses, as well as a decrease in expenses.

Sino Splendid revenues up 33% in first half

Hong Kong, 9th August: Earlier this week, Hong Kong-listed company Sino Splendid (formerly China.com) released its results for the six-month period ended 30th June 2021. Revenues in the first half were US$3.4 million, a year-on-year increase of 33%. The company posted a loss of US$1.4 million over the reported period, compared to a loss of US$1.3 million during the same period in 2020.

More than 65% of total revenues were generated from its financial magazine & other media business, amounting to US$2.2 million. This represents growth of 138% year-on-year. Sino Splendid’s second largest business, new securities investment, generated revenues of US$625,000, which accounted for 18% of total revenues. The travel media business accounted for 13% of total revenues at US$454,000. The travel media business dropped 70% compared to the same period last year. The remaining revenues were generated from its money lending business (US$70,000) and virtual reality business (US$30,000).

Informa Markets revenues drop by 29%

London, 29th July: Last week, Informa PLC released its financial results for the six months ended 30th June 2021. Revenues in the first half were £688.9 million (US$953 million) – representing an underlying decrease of 7.5%. Adjusted operating profit was £69.2 million (US$96 million), representing a 2.5% decrease.

Informa Markets, Informa’s event business, posted revenues of £187.6 million (US$260 million) in the first half of 2021, representing an underlying decline of 29%. Informa Markets posted an adjusted operating loss of £43.3 million (US$60 million), compared with a profit of £12.9 million (US$15 million) for the same period last year.

In Mainland China, physical events activity has seen a consistent and progressive recovery over the last 12 months since reopening. Rebooking trends in Mainland China events for 2022 are robust and the company predicts total revenue in Mainland China could return close to 2019 levels.

RELX’s exhibitions business posts 40% decline

London, 29th July: RELX plc recently released its latest financial results for the previous six months ended 30th June 2021. Group revenues were £3.39 billion (US$4.7 billion) in the first half of the year, a year-on-year decrease of 3%. However, adjusted operating profit increased by 3% year-on-year to £1.02 billion (US$1.4 billion).

RELX’s exhibitions business generated revenues of £121 million (US$167 million), representing a decline of 40%. However, the adjusted operating loss decreased from £66 million (US$91 million) to £48 million (US$66 million) this year. During the reported period, the company held 87 face-to-face events, mostly in China and Japan.

Alibaba Group’s revenues up 34% in Q1

Hangzhou, 3rd August: Earlier this week, Alibaba Group, China’s largest e-commerce company, announced its results for the quarter ended 30th June 2021. The company recorded revenues of US$31.9 billion, up 34% year-on-year. However, net income posted a decrease of 5% year-on-year, down to US$7.0 billion.

More than 87% of Alibaba’s total revenues were generated from its core e-commerce business amounting to US$27.9 billion. In terms of its B2B business, just more than 4% of total revenues were generated from Alibaba’s B2B platforms. Revenues from Alibaba’s China B2B business, primarily generated through 1688.com, grew by 13% to US$608 million; while the international B2B business, primarily from Alibaba.com, generated revenues of US$682 million, a 37% increase year-on-year.

Keppel acquires SPH for US$2.5 billion

Singapore, 2nd August: Singapore-based media company, Singapore Press Holdings Limited (SPH) announced that Keppel Pegasus Pte. Ltd, a wholly owned subsidiary of Keppel Corporation Limited, has proposed to acquire all the shares of SPH post restructuring of the media business through a scheme of arrangement, with a total consideration of S$3.4 billion (US$2.5 billion).

This represents a 39.9% premium to the last trade price of S$1.5 per share before the strategic review of SPH’s business was announced on 30th March 2021, an 11.6% premium to the last trade price of S$1.88 per share on 30th July 2021, and a 21.4% premium to the 3-month volume weighted average price of S$1.729 per share.

Quick takes

UFI reports on the sustainability of the exhibition industry

According to findings from UFI – The Global Association of the Exhibition Industry, most exhibitors (86%) and visitors (87%) believe exhibitions help them save time and money – with the added benefit of reducing travel and its associated carbon footprint. Respondents felt the industry was halfway between “only starting” and “very advanced” sustainability.

HKTDC’s twin jewellery shows close successfully

The concurrent 37th edition of the HKTDC Hong Kong International Jewellery Show and 7th edition of the HKTDC Hong Kong International Diamond, Gem and Pearl Show ended on 29th July, attracting over 13,700 buyers. The shows were also open to the public for the first time with more than 17,000 public visitors attending.

Singapore’s MICE industry remains optimistic

Singaporean tradeshow and conference organisers anticipate the easing of restrictions on business events and quarantine-free arrivals for vaccinated travellers, and organisers believe the industry will show signs of improvement by the end of the year. However, with slow vaccination rollouts in some Asian countries, the reopening of Singapore’s borders remains uncertain.

Share price movement in B2B media companies involved in Asia

Figure 1: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement over past 12 months)

Figure 2: BSG B2B Media Index vs. All Tracked B2B Stocks (price movement since January 2021)

UFI: exhibition industry improving

Paris, 27th July: Earlier this week, UFI, the Global Association of the Exhibition Industry, released its latest Global Barometer research, highlighting the strong impact the COVID-19 pandemic has had on the global exhibition industry in 2020. However, it is gradually improving, primarily driven by physical exhibitions and business events.

According to the survey, less than 10% of companies expect “no activity” for the last quarter of 2021, compared with 53% in January. Nearly half of companies expect “normal activity”, compared with 12% in January. The results vary by region, depending on the currently confirmed or expected “reopening dates” for exhibitions. The majority of companies in all regions expect both local and national exhibitions to open again in the coming 12 months, and international exhibitions to reopen in the first half of 2022.

GSSE moves to new Jio World Centre

Mumbai, 12th July: Leading Indian B2B exhibition organiser, publication & media house, Virgo Communications & Exhibitions, will organise its GSSE 2022: Global Stainless Steel Expo at a new venue, Jio World Centre.

The show, to run from 3rd to 5th March 2022, will be a focused international B2B exhibition/conference, connecting stainless steel industry and related stakeholders from around the globe.

Singapore tightens COVID restrictions

Singapore, 21st July: Singapore scaled down in-person business events and live performances and also reduced event size caps from 22nd July until 18th August, in response to a surge in COVID-19 cases.

Live performance and business events of up to 100 persons are allowed with pre-event testing, and up to 50 without testing. Spectator and participatory sports events are allowed up to 100 persons with testing. Other measures include reduction in group sizes for social gatherings from five to two, and reduction in operating capacity at attractions and museums from 50% down to 25%.

Separately, Singapore is considering quarantine-free travel for those who are fully vaccinated against COVID-19 from as early as September. It is expected that 80% of its population will be vaccinated by then, meeting conditions to reopen.

Thailand updates COVID-19 measures

Thailand, 21st July: Due to the increasing number of COVID-19 cases in Thailand, the government has released several measures to control the situation.

On 21st July, the Thai Government announced new tougher measures to effectively reduce COVID-19 infection. From 20th July, it increased the number of provinces under maximum restrictions from 10 to 13, with unnecessary outdoor activities prohibited.

Quick takes

V-Connect Vietnam’s success story

The Vietnam Edition of V-Connect ran from 21-23 July and had been a big hit with the crowd. A digital B2B Networking event for ASEAN’s Feed to Food Industry, it attracted over 7,000 views from 62 countries. Gathering 150 international brands from 62 countries and 1,159 unique registered visitors, the event also helped match together 200 and more businesses. In these unusual times, digital events are the key to new connections!

Korea launches new marketing campaign for Unique Venues

In promotion of Korea’s Unique Venue programme, the Korea MICE Bureau has unveiled a new digital marketing campaign and microsite that pairs its many collaborating venues with dancers – highlighting each venue’s specific mood and feel.

Constellar Holdings rightsizes from extended COVID impact

Constellar Holdings let go of 21 employees as part of a rightsizing exercise due to the prolonged impact of the pandemic, affecting 12% of its Singapore office headcount. Due to the repeated rescheduling and cancellation of events, Constellar Holding’s Singapore Expo & MAX Atria experienced a 95% drop in physical events.

Alibaba provides fund for start-ups in the Greater Bay Area

Hong Kong, 13th July: The Alibaba Hong Kong Entrepreneurs Fund (AEF), launched by the Alibaba Group in 2015, is a not-for-profit initiative dedicated to supporting entrepreneurs in the Greater Bay Area (GBA).

A new venture fund, dubbed the AEF Greater Bay Area Fund (GBA Fund), is targeting a final close before June 2022 with a funding package of HK$2 billion (about US$260 million), which will include capital commitments and credit facilities. In addition to GBA entrepreneurs, the fund will also benefit Hong Kong-based start-ups planning to expand into the region, with a key focus on sustainability, deep tech, health tech, artificial intelligence and Industry 4.0 related projects.

HKTDC releases Annual Report

 Hong Kong, 7th July: The Hong Kong Trade Development Council (HKTDC) released its Annual Report for the 2020/21 financial year ended 31st March 2021.

Due to the COVID-19 pandemic, the HKTDC has postponed or cancelled its physical fairs since April 2020 and organised virtual fairs instead. During the reporting period, the fairs attracted more than 394,000 buyers and 7,400 exhibitors.

In financial figures, revenues from exhibition admissions dropped 95%, down to US$9.1 million. Including a government subsidiary of US$77 million, the HKTDC posted total income of US$166 million, down 42% from last year.

Hong Kong’s Kitec to be transformed into grade-A offices

Hong Kong, June: A group of investors led by Billion Development and Project Management paid HK$10.5 billion (US$1.35 billion) for Hopewell’s Kowloon Bay Trade and Exhibition Centre (Kitec) in Hong Kong.

The consortium plans to spend HK$20 billion (US$2.56 billion), which includes the acquisition cost, to develop the complex into grade-A offices. The complex now has a gross floor area of 164,400 m2.

830,000+ visitors attend Hong Kong Book Fair

Hong Kong, 14th July: Organised by the Hong Kong Trade Development Council (HKTDC), the Hong Kong Book Fair, the Hong Kong Sports & Leisure Expo and the new World of Snacks concluded on 20th July, attracting more than 830,000 visitors.

Running from 14th to 20th July at the Hong Kong Convention and Exhibition Centre (HKCEC), the co-located fairs featured more than 760 exhibitors, presenting a broad selection of books, sports, products and snacks.

The encouraging results of the Book Fair and its co-located fairs support the return of more physical public shows.

Quick takes

PM Modi visits Varansi for launch of “Rudraksh” convention centre

On 15th July, the “Rudraksh” International Cooperation and Convention Centre was inaugurated with the attendance of Indian Prime Minister Narendra Modi. The two-storey venue seats 1,200 people, and was built with the help of the Japanese International Cooperation Agency (JICA).

Tarsus Group acquires BodySite Digital Health

Global B2B events and media group Tarsus has announced the successful acquisition of BodySite Digital Health – a digital patient care management and education platform. Integrated under the Tarsus Medical Group, the division will expand its stack of digital products and enhance subscription services for healthcare professionals.

Trio of Thai resort islands reopen under Samui Plus scheme

The Thai resort islands of Koh Samui, Koh Phangan and Koh Tao will be reopened, quarantine-free, to fully vaccinated foreign travellers. Under the Samui Plus scheme, these islands will be open to foreign travellers between July and December 2021. Thai Minister of Tourism and Sports Phiphat Ratchakitprakarn says this initiative is “another significant step towards achieving the Thai prime minister’s recently announced policy of reopening the whole country within 120 days, or by the end of October.”