GainingEdge wins venue contract in China

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Beijing, 11th January: GainingEdge, a business events consultancy, announced that it has won a bid to work on pre-opening operations and marketing activities for the second phase of the China National Convention Centre (CNCC-II) in Beijing.

GainingEdge has entered into a strategic partnership with Beijing North Star Convention and Exhibition Investment, the main stakeholder and developer of CNCC-II. The consultancy will work to position the venue as a host for international conventions. Taking into account the second phase, the venue will have a total capacity of 780,000 m2 with 420,000 m2 dedicated to convention activities.

GL events makes another acquisition in China

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Shanghai, 4th January: There is not a lot of detail on this deal. It does not yet appear on the GL events website, but some media are reporting that GL events has acquired a 65% stake in the organiser of Harbin Seed Expo. The event focuses on seeds and related equipment. Harbin Seed Expo employs 23 people and has reported revenue of US$3.5 million with an operating margin of 40%.

The organiser has three events in its portfolio. Harbin Seed Expo is an annual event that features more than 1,000 exhibitors and covers 25,000 m2. The company also organises similar, smaller annual events in Chengdu and Nanjing.

4,300+ buyers at Cosmoprof India 2021

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Mumbai, 24th December: Organised by Informa Markets and BolognaFiere, the second edition of Cosmoprof India concluded last month with more than 4,300 participants.

Running from 16th to 17th December 2021 at the Hotel Sahara Star in Mumbai, the show featured approximately 100 exhibiting companies showcasing a range of new products and services.

HKTDC’s Benjamin Chau to retire

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Hong Kong, 4th January: The Hong Kong Trade Development Council (HKTDC) has announced that after 37 years at the organisation, Benjamin Chau will retire. The HKTDC has appointed Sophia Chong as the new Deputy Executive Director.

Ms. Chong joined the HKTDC in the 1990s. She has been promoted from the role of Assistant Executive Director, in which she was responsible for managing the HKTDC’s exhibitions. She also previously served as Director, Exhibitions and Director, Publications & E-Commerce. In her new position, she will oversee all international trade fairs and the HKTDC’s digital business.

Indonesia’s MICE industry looks up in 2022

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Indonesia, 3rd January: According to the Indonesian Exhibition Companies Association (IECA), the government of Indonesia relaxed its COVID-19 restrictions in early October. As a result, of the 64 physical exhibitions originally scheduled in 2021, 42 managed to take place.

The IECA is more optimistic about the year ahead. Hosea Andreas Runkat, Chairman of the IECA, stated that the number of in-person events will be closer to 2019 levels by mid-2022 – if the Indonesian government financially supports the MICE industry this year.

MyCEB releases data on MICE in 2020

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Kuala Lumpur, 22nd December: Last month, the Malaysia Convention & Exhibition Bureau (MyCEB) released its annual report for 2020 (yes, 2020).

In that year, MyCEB reports that it secured 60 business events with an estimated 90,000 delegates and an economic impact of RM 1.1 billion (US$273 million). The bureau supported a total of 21 events that year, with an estimated economic impact of RM 186 million (US$46 million), attracting an estimated 44,000 delegates.

Quick takes

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Hong Kong shuts down (again)

Despite a seven-day average of just 15 cases (including imported infections), the Hong Kong government has re-imposed restrictions by putting a stop to all events. They also banned flights from eight countries.

Australia looks to AIME to restart events

AIME, with is owned by the Melbourne Convention Bureau, expects that the annual gathering will “spearhead business for both state and country in 2022 and beyond.” 17 convention bureaus will participate in the physical event, which takes place from 21st to 23rd March.

Quick takes

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Beijing cracks down on influencers

It is well-known that livestreaming is big business in China, but we didn’t realise quite how big it is. This week, Huang Wei, China’s so-called ‘queen of livestreaming,’ was fined by Beijing for evading taxes. The fine… US$210 million. And apparently, she has the cash on-hand to settle the bill in the next few days.

 

Another misstep by Alibaba

Alibaba’s woes continue. This week, China’s Ministry of Industry and Information Technology (MIIT) suspended an information-sharing partnership with Alibaba Cloud Computing. Apparently, the company failed to “promptly report and address a cybersecurity vulnerability.”

 

CEIR reports weak Q3 numbers in U.S.

The Center for Exhibition Industry Research (CEIR) has published its key metrics on the U.S. B2B exhibitions industry. Net square feet sold fell 44% in Q3 2021 compared with Q3 2019. Number of exhibitors was down 51%. Attendees fell 37% and revenues were down 50%. Despite that, the U.S. still seems likely to be one of the best performing markets in 2022.

 

Cancellations in KL continue

Automechanika Kuala Lumpur, organised by Messe Frankfurt, has announced the decision to postpone the next edition of its show from March 2022 until March 2023.

Malaysia’s Movement Control Order (MCO) policies are severely affecting travel. As a result, Messe Frankfurt stated that the new show dates are 16-18 March 2023.

Tarsus announces two new acquisitions

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U.S., 15th December: Tarsus Group, a London-based B2B media group, has announced the acquisition of two U.S.-based events businesses, FounderMade and Health Connect Partners (HCP). Tarsus has completed an impressive six deals in 2021.

FounderMade and HCP will become part of the newly created Tarsus Health division, which will also include Tarsus Medical brands and BodySite, a digital health platform acquired earlier this year. The new division will cover the healthcare, wellness and nutrition segments.

Hyve’s revenues down 44% in FY2021

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London, 16th December: Last week, London-listed Hyve Group (formerly ITE Group), released its preliminary results for the year ended 30th September 2021. Revenues for the year were £55.2 million (US$74 million). That represents a 44% drop year-on-year.

During the financial year, Hyve sold a total of 211,000 m2 at its events, compared with the figure of 344,000 m2 in the previous year. The company posted a profit before tax of £20.8 million (US$28 million), compared with a loss of £18.1 million (US$24 million) in the previous year. Adjusted net debt was £79.9 million (US$107 million) as of 30th September 2021.

In Asia, the company generated revenues of just £4.1 million (US$5.5 million) in the financial year, down from 76% in the year before. Hyve’s loss before tax in the year was £7.5 million (US$10 million), compared with a profit of £6.4 million (US$8.6 million) in the year before.

9,500+ visitors at HKTDC hybrid event

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Hong Kong, 13th December: The Hong Kong Trade Development Council (HKTDC) recently concluded its Lifestyle Sourcing Show | Physical + Online, reportedly attracting more than 9,500 buyers to its hybrid event.

The physical show ran from 1st to 3rd December at the Hong Kong Convention and Exhibition Centre (HKCEC), while the online show ran from 6th to 10th December. More than 580 exhibitors from nine markets showcased the latest toys, baby products, gifts and premiums, houseware, optical products, as well as wine and spirits. Seminars were organised during the event, and according to the HKTDC, more than 3,100 business meetings were arranged during the show.

Pico Thailand cuts costs, narrows loss

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Bangkok, 8th December: Earlier this week, Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, announced its full-year financial results for the year ended 31st October 2021. The company narrowed its loss from US$2 million last year, down to US$864,000 this year.

Pico Thailand recorded total revenues of US$19 million, down 13% compared with the year before. Due to Thai Government COVID restrictions, many business events were cancelled or postponed in late 2020 and again beginning with the third wave of infections in April 2021. As a result, Pico’s revenues were predictably hard hit. Management responded by cutting overhead costs and limiting expenses to narrow overall losses despite the decline in revenues.

Exhicon acquires Creative Focus in India

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India, 1st December: The Exhicon Thailand Company announced that the company has successfully acquired Creative Focus Interior Design Co. Ltd. The deal also includes the acquisition of production units in New Delhi, Bengaluru and Mumbai. Financial details of the acquisition were not disclosed. Creative Design, established more than ten years ago, “offers a unique blend of communications through exhibition, retails & commercial designs and interiors for its customers.”

Pornprapa Chokpornchai, Director of Exhicon Group, said “We welcome them to the Exhicon Group and hope to help the Creative Focus brand grow the business beyond India across exhibitions, retail and commercial interiors. The exhibition and retail interior business and its offerings are at an inflection point of massive explosion in the post COVID world and this takeover will help Creative Focus to synergize and grow with other verticals of Exhicon.”

Indonesia optimistic about events in 2022

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Indonesia, 8th December: Indonesia’s Ministry of Tourism and Creative Economy recently organised an industry event, Indonesia MICE Outlook 2022, held in Bali last week. At the conference, leaders expressed optimism about the future of the country’s business events, and government officials stated that more than 30 “international events” have been confirmed to take place in Indonesia in 2022. Global meetings in Indonesia are expected to resume in 2023.

Raty Ning, chairman of ICCA Indonesia, stated, “The year will be more exciting if the government could provide financial incentives to local associations to (encourage them to) organise events, such as annual scientific meetings and national deliberation.”

Quick takes

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Stuart Bailey advocating for events industry

We missed this one a few weeks ago, but it is worth watching. Stuart Bailey, Chairman of HKECIA, was on TVB’s show, Money Matters, in Hong Kong, making the case that the government’s overly aggressive and persistent quarantine requirements are damaging Hong Kong’s economy – and the damage is growing with each passing day.

 

Hong Kong’s inconsistent quarantine rules

The government of Hong Kong has tightened its quarantine requirements. Residents returning from the U.S. and U.K. now have to quarantine for seven days at a “government camp” followed by 14 days locked in a hotel room – at their own expense. Ostensibly, this is due to confirmed omicron cases in those countries. However, residents returning from Mainland China, which also has confirmed omicron cases, are not subjected to the same restrictions.

 

Alibaba loses bid to buy chip-maker

It is unclear if they really wanted it or if Alibaba’s management was trying please Beijing, but either way, the e-commerce giant lost its bid to take over government-backed chip-maker, Tsinghua Unigroup.

 

CEO of Easyfairs predicts margin pressure

Always interesting Eric Everard, founder and CEO of Easyfairs, anticipates, “it is going to be bumpy for probably a relatively long term.” He also expects margin pressure – at least in the near term.