Share price movement in B2B media companies involved in Asia
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/LinkedIn targets virtual events
It is difficult to tell where all of this is headed, but there is certainly a lot of action and change in the virtual events space.
HK travel trade show going ahead
Local Hong Kong exhibition organiser, TKS Exhibitions, is pushing ahead with its travel trade show, ITE Hong Kong 2020, in August. Hopefully that is a sign of good things to come for both the events industry and the travel industry.
Reed’s BookExpo was virtually successful
The New York Times reports that the “publishing industry’s annual event, normally staged at the cavernous Javits Center, moved some programming online and reached a big digital crowd.” But does a big digital crowd equal a real success for the exhibitors?
Cathay Pacific gets US$5b from government
The Hong Kong government will put US$5 billion into ailing Cathay Pacific. After the transaction, the government will own about 6% of the airline. Hopefully, this will be enough to get Cathay back in the air. The Swire Group currently owns 45%. Air China owns 30% and Qatar Airways owns 10%.
Business Traveller article and Bloomberg article
Border restrictions in Asia are easing
Last week, Hong Kong announced that it would remove quarantine requirements for visitors from Mainland China on 7th July and other international destinations on 18th September. This week Singapore is considering opening it borders to China and Malaysia.
Korea MICE Bureau offers additional support
/Korea, 26th May: Recently, the Korea MICE Bureau (KMB) introduced a new support program for Korean conventions, meetings and incentives affected by the COVID-19 global pandemic.
Read MoreUFI takes on a new format for its 2020 Global Congress
/Paris/Oman, 9th June: Due to the COVID-19 pandemic, UFI, the Global Association of the Exhibition Industry, has decided to make changes to its annual Global Congress. The original host of the 2020 Congress, the Oman Convention & Exhibition Centre (OCEC), will now host the event in 2022 – and in 2021 the UFI Global Congress will be held in Rotterdam.
Read MorePico Thailand posts loss
/Bangkok, 5th June: The Thai-listed subsidiary of Pico Far East Holdings, Pico Thailand, released its results for the quarter ended 30th April 2020. Revenues in the quarter were US$4.0 million, representing a year-on-year decrease of 68%. The company posted a net loss of US$791,000, compared with a profit of US$492,000 in the same quarter last year.
Read MoreU.S. exhibition industry metrics drop 15% in Q1
/Dallas, 5th June: The Center for Exhibition Industry Research (CEIR) released its report on exhibition activity in the U.S. in the first quarter of 2020. The CEIR Total Index, a measure of the U.S. exhibition industry’s performance, posted a 15.1% decline in the first three months of the year.
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Read MoreSingapore unveils latest budget to support industry
/Singapore, 27th May: Most businesses in Singapore will reopen in July, however, its aviation and tourism industries will not fully reopen for a longer period of time. As a result, the Singapore government has rolled out its fourth budget subsidy amounting to S$33 billion (US$23 billion) to support affected Singaporean businesses.
Read MoreExhibitions slowly restart around the world
/Worldwide, 1st June: Several exhibitions have now been held in China including in Changsha, the capital of Hunan province. The Hunan Auto Show ran from 30th April to 5th May at the Hunan International Convention and Exhibition Centre. More than 100 car brands showcased some 600 vehicles at the show covering an exhibition area of 60,000 m2.
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/Alibaba adds financial tools and online trade shows
The Chinese e-commerce giant is increasingly targeting the U.S. market and the trade show industry.
HKTDC to offer virtual platform for jewellery
The organiser’s August jewellery event will feature a virtual platform for international buyers who cannot attend. Hong Kong will still have quarantine measures in place for international arrivals in August – and the event’s venue, AsiaWorld-Expo, is currently a testing site for COVID-19.
Made-in-China.com piggybacks on Canton Fair
Made-in-China.com will hold online “simultaneous events” beginning on 15th June which will “create digital, immersive and convenient sourcing experience for global buyers.”
Global Exhibitions Day reaches millions
Perhaps driven in part of by lockdowns and the unprecedented challenges faces the industry, GED resulted in record engagement – over 7,000 mentions on social media and delivered “reach” of over 650 million with over 100 countries participating.
Messe München appoints General Manager in Singapore
International exhibition organiser, Messe München, appointed Michael Wilton as the new General Manage in Singapore, effective 1st June 2020.
UFI Asia-Pacific Conference goes to Melbourne in 2021
/Paris/Melbourne, 28th May: Last week, UFI – The Global Association of the Exhibition Industry, announced that the 2021 Asia-Pacific Conference will be held in Australia for the first time. The dates will be announced in the coming weeks, but this event is typically held in late February or early March.
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Read MoreAlibaba’s revenues up 35% in FY2020
/Hangzhou, 22nd May: Earlier this week, China’s largest e-commerce company, the Alibaba Group, announced its financial results for the year ended 31st March 2020. Revenues were US$72 billion, representing year-on-year growth of 35%. Net income in the year jumped 70% to US$21 billion. Diluted earnings per share in the year were RMB 55.93 (US$7.90).
Read MoreKoelnmesse achieves record-breaking year in 2019
/Cologne, 20th May: International exhibition organiser, Koelnmesse, reported a new record in 2019, with revenues of €412.7 million (US$462 million), a 15% increase compared with the same figure in 2017 (Koelnmesse compares odd years due to the number of biennial events in its portfolio.) Net income in the year was €30.5 million (US$34 million). The company’s management attributed the success in 2019 to the strong performance of its own events as well as the performance of its venue in Cologne.
Read MoreHKCEC hosts first exhibition since virus outbreak
/Hong Kong, 22nd May: Last weekend, the Hong Kong Convention and Exhibition Centre (HKCEC) hosted its first exhibition since the COVID-19 pandemic began. The 98th Hong Kong Wedding Fair, a local consumer exhibition, was originally scheduled in February, but was rescheduled to run from 22nd to 24th May. The Wedding Fair was organised by Hongkong-Asia Exhibition Limited (HAE).
Extra precautions were put in place by both the venue and the organiser.
Share price movement in B2B media companies involved in Asia
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/EEAA calls on government to pick a date
EEAA, the Australian exhibition industry association, is calling on state and federal authorities to set a start date for business events. There will be more and more of these calls as economies in Asia begin to restart.
TCEB releases guidelines
The always-active team at TCEB in Thailand have released new guidelines for venues and organisers looking to hold events as the country comes out of lockdown. The guidelines comprise five key measures such as limiting the number of attendees, temperature screening of attendees and social distancing.
Possible cash infusion for Messe Berlin
There is a proposal to inject €80m of public funds into the venue manager and event organiser, Messe Berlin according to reports in the German media. ITB, one of Messe Berlin’s flagship events, was cancelled in March. Other cancellations soon followed.
Hanley Wood announces layoffs
There will be many more of these announcements in the months ahead. Hanley Wood is a U.S.-based B2B media group focused on property, construction and design.
Airlines announce restart of some routes
This is a very long and comprehensive list of routes that will be restarted in the coming two months.
Sino Splendid posts loss in Q1
/Hong Kong, 11th May: Recently, Hong Kong-listed Sino Splendid (formerly China.com) has reported its results for the quarter ended 31st March 2020. Sino Splendid is the owner and operator of the travel media group, TTG.
The company’s total revenues dropped 47% year-on-year, down to US$1.7 million in the quarter. The company posted a net loss of US$244,000 in the quarter, compared with a net profit of US$170,000 in the previous year.
BOL’s revenues up 20% in Q1
/Bangkok, 12th May: Last week, Bangkok-based business information provider, Business Online (BOL), released its financial results for the first quarter of 2020. Revenues in the period were US$4.6 million, an increase of 20% year-on-year.
BOL’s net income in the quarter grew 30% compared with the first quarter of last year, reaching US$1.2 million. Earnings per share in the period were Baht 0.049 (US$0.0015).