Pico Far East’s profits up 90%

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Hong Kong, 28th June: Last week, Hong Kong-listed Pico Far East Holdings announced its interim results for the six months ended 30th April 2024. Revenues were US$376 million, representing a year-on-year increase of 18%. Profits in the six-month period jumped 90% to US$24 million.

In terms of business segments, 86% of Pico’s revenues were generated from its exhibition, event & brand activation business (US$325 million). This business was up by 18% year-on-year. The management attributed the increase in the business to the robust rebound in Pico’s key geographic markets.

VNU Asia Pacific collaborates with NCSA

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Bangkok, 24th June: VNU Asia Pacific has announced plans to collaborate with the National Cyber Security Agency of Thailand (NCSA) to support the 2025 edition of “Cybersec Asia x Thailand International Cyber Week 2025”. This follows the success of the first edition of Cybersec Asia held in January 2024.

The 2025 edition of Cybersec Asia will be held from 22nd to 23rd January at Queen Sirikit National Convention Center (QSNCC) in Bangkok. The event will target cybersecurity experts, start-ups and key public and private sector players.

IPIM rebranded as Commerce and Investment Promotion Institute

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Macau, 28th June: Macau announced plans to establish a new institute, Commerce and Investment Promotion Institute, as of 1st July 2024. The official abbreviation will continue to be “IPIM”.

The new institute is a merger of the Macao Trade and Investment Promotion Institute and the Permanent Secretariat of the Forum for Economic and Trade Co-operation China and Portuguese-speaking Countries (Macao).

Quick takes

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UFI announces award winners

UFI, the Global Association of the Exhibition Industry, has announced Easyfairs as the winner of the 2024 UFI Sustainable Development Award and Fiera Milano as the winner of the 2024 UFI Industry Partners Award. The two winners will present their projects at the 91st UFI Global Congress in November 2024 in Cologne, Germany.

Indonesia to boost foreign visitors

Indonesia president Joko Widodo (Jokowi) aims to boost international arrival numbers to the country by holding more international events. This year, the Ministry of Tourism and Creative Economy (MoTCE) has a budget of US$235 million and target of over 14 million arrivals.

China expands visa-free countries to Australia and New Zealand

Despite relatively recent political tensions, visitors from Australia and New Zealand will now able to enter China without a visa for business or tourism for up to 15 days. Since last year, China has been expanding its list of unilateral visa-free countries. This is driven in part by its slowing economic growth.