Pico Thailand returns profit

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Bangkok, 13th September: Last week, Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, released its financial results for the quarter ended 31st July 2024. Revenues in the quarter were US$12.4 million, which jumped 156% year-on-year. In the same period, the company posted a net profit of US$418,000 compared with a loss of US$225,000 in the same quarter in 2022.

The company attributed the increase in revenues to lots of marketing activities were held in the period.

Appointment of YB V. Sivakumar as a Chairman of MyCEB

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Putrajaya, 13th September: Malaysia Convention & Exhibition Bureau (MyCEB) has appointed YB V. Sivakumar, former minister of human resources, as its new Chairman, which effective 30th August 2024.

In the new role, Sivakumar will explore new opportunities to drive MyCEB’s progress. His focus includes strengthening Malaysia’s position as a premier destination for international business events, encouraging innovation by integrating the latest technology into event organisation, promoting our nation as a sustainable and eco-friendly destination for global business events, and developing local talent in staging Malaysia’s events scene.

Hong Kong to host world tourism summit

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Hong Kong, 12th September: The Hong Kong Tourism Board (HKTB) announced World Tourism Cities Federation (WTCF) to host its conference in Hong Kong in 2025. It is expected to attract 400 delegates from more than 40 countries and regions.

This is the first WTCF to bring its Fragrant Hills Tourism Summit to Hong Kong and it will be held in April, featuring keynote speeches, tourism showcases, tourism fairs and exhibitions, to promote co-operation among member cities and the travel trade from member regions.

Nineteen Group sells to private equity fund

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U.K., 19th September: U.K.-based exhibition organiser, Nineteen Group, was acquired by a private equity fund, Growth Partnership Fund, for about £225 million (US$297 million).

The new establish Growth Partnership Fund is led by Kline Hill Partners and co-led by Ares Management, and Phoenix Equity Partners, Nineteen’s original investor. According to media reports, the “continuation” fund will be worth £200 million (US$264 million), helping drive Nineteen’s growth and acquisition strategy.

Quick takes

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170+ delegates at UFI Americas Conference

UFI, The Global Association of the Exhibition Industry, concluded its 2024 UFI Americas Conference, bringing together over 170 exhibition industry leaders and stakeholders. Running from 10th to 12th September, at Cintermex, the conference was hosted by the Monterrey Convention & Visitors Bureau (OVC), featuring dynamic sessions, extensive networking opportunities, and a post-conference tour to showcase the vibrant cultural and landscapes of Monterrey.

PCEC appoints new General Manager

The Perth Convention and Exhibition Centre (PCEC) announced the appointment of Kendra Naidoo as its new General Manager. Kendra will oversee the PCEC’s leadership team and play a pivotal role in shaping the future of Perth’s premier business event venue. Kendra will replace Nigel Keen, who steps down from the position.

U.S. B2B exhibition industry slowdown in Q2

The Center for Exhibition Industry Research (CEIR) released its latest index results for the U.S. B2B exhibition industry under four metrics: exhibitors, attendance, net square footage and real revenues. In the second quarter of 2024, the overall index value was 87.7, compared to 100 in 2019, it dropped 2.3% compared to the second quarter of 2023.