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.”

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)

GL events China to become a strategic investor in North Star Convention

China, 9th July: Hong Kong registered Chinese industrial conglomerate, North Star Company Limited, announced it has brought on board four new strategic investors, including GL events China, to strengthen the capital base of its convention and exhibition subsidiary, Beijing North Star Convention Group Co., Ltd. The three other investors are: Beijing Capital Tourism Group Co., Ltd., Beijing Shougang Construction Investment Co., Ltd. and Jingdong Technology Holding Co., Ltd.

The registered capital of North Star Convention Group will be raised from RMB 120 million (US$18.5 million) to RMB 200 million (US$30.8 million) after the completion of the deal. The parent company will own 60% while the four new investors will each hold 10%. The company will also be renamed as “Capital Convention (Group) Co., Ltd.”, and will remain as a subsidiary of the North Star Company.

Hyve releases FY21 Q3 trading update

London, 8th July: London-listed Hyve Group plc has released its trading update for the three-month period from 1st April to 30th June (Q3).

During the quarter, the company ran 18 in-person events, for a total of 28 events held for the financial year. In respect of cancelled events, £2.1 million (US$2.9 million) of further insurance claims have been approved. Therefore, net debt as of 30th June was reduced to £73 million (US$101 million), from £92.4 million (US$128 million) as of 31st March 2021.

HKTDC opens twin jewellery shows in July

Hong Kong, 8th July: The Hong Kong Trade Development Council (HKTDC) will organise the 37th edition of Hong Kong International Jewellery Show and seventh edition of Hong Kong International Diamond, Gem & Pearl Show from 25th to 29th July, at the Hong Kong Convention and Exhibition Centre (HKCEC).

The twin jewellery shows will be held for the first time in a hybrid format. The physical fairs will be attended by industrial buyers and will also open to public for the first time. The online business matching service will run until 5th August, allowing global jewellers to make business deals through online video conferences.

Thailand tightens restrictions in Bangkok and 9 provinces

Thailand, 9th July: The Thai Government announced a 14-day nightly curfew that applies to Bangkok and nine other provinces, starting from midnight on 12th July. Daily new COVID-19 infections in the country have been on the rise, with 5,530 cases reported on 1st July and 9,276 cases on 9th July.

The affected areas include Bangkok and its vicinities (Pathum Thani, Samut Prakan, Samut Sakhon, Nonthaburi and Nakhon Pathom) and four provinces in the southern region (Narathiwat, Pattani, Yala and Songkhla).

Quick takes

Andrew Phua to lead Singapore Tourism Board’s operations in Greater China

Singapore Tourism Board (STB) Executive Director Andrew Phua will be moving to China to lead STB’s operations in the China, Hong Kong/Macau and Taiwan markets. Effective 16th September 2021, Andrew Phua’s successor in Singapore will be Poh Chi Chuan, the previous ED of the Board’s Technology Transformation Group.

Elsie Cheung to step down as SCMP COO

After 20 years of service, South China Morning Post Chief Operating Officer Elsie Cheung will be leaving the news organisation for personal reasons, effective 30th July 2021. Cheung’s contributions have been “integral to the transformation of the brand” according to SCMP Chief Executive Gary Liu.

Tokyo Olympics to be closed to spectators amid new COVID spikes

Japan has declared a state of emergency in Tokyo from 12th July to 22nd August following a spike in COVID-19 cases. To prevent the unnecessary spread of the Delta-variant, public spectators will not be allowed to attend the Olympic Games.

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)

Ecosystm partners with Constellar

Singapore, 30th June: Ecosystm, the disruptive technology research and advisory platform, and Constellar Venues, a subsidiary of Constellar Holdings (formerly known as SingEx-Sphere Holdings), have agreed to collaborate on a series of Executive Think Tanks globally.

Under the new partnership, Ecosystm’s deep industry knowledge gained through their real-time technology research platform and pool of world-class industry and technology analysts, in conjunction with Constellar’s renowned operational excellence in venue and events management plus their extensive customer and partner networks, will deliver an enhanced standard of virtual, physical and hybrid events around the world.

MCEC unveils sustainability strategy

Melbourne, 5th July: The Melbourne Convention and Exhibition Centre (MCEC) unveiled its new five-year sustainability strategy and issued ambitious targets for creating positive impact.

The United Nation’s Sustainable Development Goals (SDGs) provide an urgent call-to-action for all countries to address the world’s most pressing challenges by 2030. These goals form the foundation of MCEC’s Sustainability Strategy.

AWE marks 15th anniversary with renovation project

Hong Kong, 5th July: Hong Kong’s AsiaWorld-Expo (AWE) celebrated its 15th anniversary under the theme of “Change • Possibilities” with a HK$600 million (US$77 million) venue-wide renovation project.

The renovation project has already started and will be completed in phases over the coming five years, intended to eliminate disruptions to daily operations. It will further enhance venue facilities, benefiting future event organisers, exhibitors, concert performers, visitors of public shows and the general public.

Comexposium’s physical events return

Paris, 24th June: According to Comexposium, a leading event organiser, 75% of exhibiting companies intend to attend physical shows in 2021. The company also organised its first post-crisis events in May, most notably Sial China and the Franchise Expo.

The company has confirmed the main events will be held this autumn in key sectors across all its markets.

Quick takes

Thailand takes on proactive MICE recovery strategy

To combat the pandemic’s toll on Thailand’s struggling MICE industry, the country has adopted several new proactive strategies. In addition to producing e-learning courses in MICE, the Thailand Convention & Exhibition Bureau will also be implementing the country’s first E-MICE marketplace (Thai MICE Connect) to create more business opportunities for entrepreneurs of business events and supply chains.

Vasyl Zhygalo appointed as Portfolio Director of IBTM and WTM Brands

Reed Exhibitions (RX) UK has chosen Vasyl Zhygalo as its new Portfolio Director for the IBTM and WTM brands, in addition to his existing duties as Managing Director of RX Abu Dhabi.

Labelexpo India to return in 2022

Labelexpo India 2021 has been cancelled and is set to return on 9-12 November 2022. The Tarsus Group, the organiser of the Labelexpo Global Series, chose to reschedule the show to allow more time for COVID-19 vaccination programmes to roll out and for pandemic situations to stabilise. The event will continue to be held at Expo Centre & Mart in Greater Noida, Delhi NCR.

Messe Frankfurt form a strategic alliance in Tianjin

Tianjin, 24th June: Last week, the National Convention & Exhibition Center (Tianjin), the Tianjin Commission of Commerce and Messe Frankfurt Asia Holdings established a new strategic alliance to develop international branded trade fairs and events organised at the National Convention & Exhibition Center (Tianjin).

Under the new cooperation agreement, the Tianjin Commission of Commerce, Messe Frankfurt Asia Holdings and the National Convention & Exhibition Center (Tianjin) will become strategic partners in developing Tianjin’s national exhibition economic zone, establishing a world-class platform for exhibitions, conferences and events, together with local and international marketing and promotion teams, exhibitor recruitment, and training of exhibition personnel.

Informa Markets launches ProPak Connect

Bangkok, 24th June: The world largest exhibition organiser, Informa Markets, launched a new B2B online platform for the processing and packaging industry, ProPak Connect.

The platform supports ProPak’s portfolio of events, providing a comprehensive and year-round showcase for suppliers and buyers. It also aims to offer suppliers a unique opportunity to extend their brand presence online and reach new buyers.