Fortune sold to Thai billionaire

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Bangkok, 13th November: This week, Chatchaval Jiaravanon, a member of Thailand’s wealthiest family, announced that he had acquired U.S. magazine, Fortune, a leading business publication, for US$150 million.

Chatchaval acquired Fortune from American publisher, Meredith, through Fortune Media Group Holdings which Chatchaval established for the purpose of acquiring the magazine.

HKTDC autumn fairs attract a record 195,000+ buyers

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Hong Kong, 14th November: The Hong Kong Trade Development Council (HKTDC) has organised seven trade fairs during October and November. More than 195,000 buyers from 180 countries and regions visited the autumn fairs.

According to the HKTDC, nearly 9,700 exhibitors showcased their products and services at the seven exhibitions and of those, more than 7,200 were from Mainland China or overseas.

Of the seven trade fairs, five of them took place at the Hong Kong Convention and Exhibition Centre (HKCEC), including Hong Kong Electronics Fair (Autumn Edition), electronicAsia, Hong Kong International Lighting Fair (Autumn Edition), Hong Kong Optical Fair, and Hong Kong International Wine & Spirits Fair; while the Hong Kong International Outdoor and Tech Light Expo, and Eco Expo Asia were held at AsiaWorld-Expo (AWE).

Alibaba generates transaction value of US$30 billion on 11th November

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China, 11th November: China’s largest e-commerce company, Alibaba Group, announced that it processed a record breaking gross merchandise volume (GMV) of US$30 billion during its “Global Shopping Festival” on 11th November. The transactions were processed through Alipay on Alibaba’s retail marketplaces (1688.com and Alibaba.com). That represents a year-on-year increase of 27%.

According to Alibaba, more than 40% of consumers made purchases from international brands and some 237 brands recorded over RMB 100 million (US$14.4 million) in GMV. Alibaba’s logistics subsidiary, Cainiao Network, processed 1.04 billion delivery orders from Alibaba’s marketplaces, exceeding 1 billion for the first time.

SingEx Venues to manage Singapore Expo for 10 more years

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Singapore, 8th November: This week, the Singapore Tourism Board (STB) announced that it has appointed SingEx Venues as the operator for Singapore Expo Convention & Exhibition Centre for 10 more years, effective January 2019. SingEx has been the management company responsible for operating Singapore Expo since 1999 when the venue opened.

SingEx’s current management contract will expire at the end of 2018. As a result, a Request for Proposal (RFP) was published on the government procurement portal, GeBIZ, in December 2017. In selecting SingEx, the STB stated that the company’s proposal demonstrated “a strong understanding of Singapore’s MICE industry and outlined a comprehensive plan to grow the MICE segment in relation to Singapore Expo.”

Informa’s releases positive trading update

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London, 9th November: London-listed Informa plc released its trading update for the 10 months ending 31st October 2018. The group posted underlying revenue growth of 3.9% in the period.

The UBM businesses performed well in the same period. Overall, revenue growth in the period was 2.3%. The events business grew by 3.4%. Strong performances were recorded from the following segments: Pharma (CPhI Worldwide), Technology (Black Hat) and Lifestyle & Brands (Furniture China).

BOL’s profits up 142% in Q3

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Bangkok, 8th November: Last week, Business Online (BOL), a leading online information service provider in Thailand, announced its financial results for the quarter ended 30th September 2018. Revenues in the third quarter were US$4.05 million, representing strong growth of 25% compared to the same quarter last year. Net profit in the quarter jumped 142%, reaching US$1.2 million.

More than 90% of BOL’s revenues were generated from its core information services – US$3.7 million. This represents a year-on-year increase of 25%. The company attributed the increase in revenues to its information services and to several special projects. Meanwhile, expenses in the quarter increased by 2.1%.

Deutsche Messe to acquire LaserFair Shenzhen

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Hannover/Shanghai/Shenzhen, 2nd November: This week, Deutsche Messe announced a deal to purchase a majority stake in LaserFair based in Shenzhen. The financial details of the deal were not disclosed.

 

Launched in 2007, LaserFair’s management maintains it is the largest laser exhibition in southern China. The event focuses on key segment including laser processing, laser applications, and intelligent manufacturing. After the acquisition, the show will be directly managed by Deutsche Messe’s Chinese subsidiary, Hannover Milano Fairs Shanghai together with the other shareholder, Shenzhen XZQ Information Science and Technology Company.

 

Global Sources opens its inaugural Lifestyle show

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Hong Kong, 27th October: Hong Kong-based Global Sources launched its first Global Sources Lifestyle trade fair running from 27th to 30th October at Hong Kong’s AsiaWorld-Expo (AWE) venue. The exhibition featured creative, curated and innovative gifts, premiums and home products.

Highlights of the newly launched event included: Meet the Millennials, showcasing various product categories; Lifestyle Live, a daily program of live shows on fitness, travel, and food; the Cool Design Award & Gallery, showcasing selected innovative products; and the Global Sources Summit, a three-day conference focusing on online business.

Koelnmesse launches a premium furniture show in Shanghai

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Shanghai, 24th October: imm cologne, a leading furniture show, will open along side interior design days shanghai (idd shanghai), running from 22nd to 24th November 2018 at the 800 Show venue located close to the Shanghai Exhibition Centre.

Due to the high growth furniture market in China, Koelnmesse, an international exhibition organiser, has opted to open the premium furniture show in Shanghai. According to the organiser, idd shanghai will leverage the strength of imm cologne, showcasing premium and luxury furniture products.

73,000+ buyers at HKTDC’s lighting fairs and Eco Expo Asia

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Hong Kong, 27th October: The Hong Kong Trade Development Council (HKTDC) concluded its lighting fairs and Eco Expo Asia earlier this week, attracting more than 73,000 buyers from 154 countries and regions, which represents an increase of 6% compared to last year’s figure.

The 20th Hong Kong International Lighting Fair (Autumn Edition) took place at the Hong Kong Convention and Exhibition Centre (HKCEC) from 27th to 30th October. More than 2,700 exhibitors from 37 countries and regions attended this year, with first time exhibitors from Lithuania, Macau and Portugal.

The third edition of the Hong Kong International Outdoor and Tech Light Expo was held at AsiaWorld-Expo (AWE) running from 26th to 29th October. Eco Expo Asia is jointly organised by the HKTDC and Messe Frankfurt (HK). Running from 25th to 28th October at AWE, the show featured about 340 exhibitors.

UBM’s Singapore Jewellery & Gem Fair features 120+ exhibitors

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Singapore, 26th October: More than 120 exhibitors from 15 countries and regions showcased products at the Singapore Jewellery & Gem Fair (SJGF). It featured a wide range of jewellery products.

Organised by UBM Asia, SJGF was held from 26th to 29th October at Marina Bay Sands. In addition to exhibition, the show also included a series of workshops and seminars for trade visitors to join. An award ceremony was also held during the show to highlight the work of local designers.

VNU Exhibitions appoints new Managing Director in Asia

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Bangkok, 30th October: VNU Exhibitions, an international event organiser, recently appointed Mr. Heiko M. Stutzinger as its new Managing Director for the Asia Pacific region.

In this new role, he will oversee the entire Asia Pacific region and will set the strategy for VNU in the Asia Pacific region. Heiko is currently Deputy General Manager of Messe Düsseldorf Shanghai as well as Deputy Managing Director of Messe Düsseldorf China. Heiko will take on the new role as of 1st February 2019 and will be based in VNU’s Bangkok office.