Quick takes

/

AIME returns to form

This edition of the BSG newsletter is the first in many, many months that feels like all good news! Continuing with that theme: Matt Pearce from the team at Talk2 Media & Events is very pleased with the result of AIME, which was held in Melbourne last month.

 

South Korea drops most COVID restrictions

As of 18th April, South Korea dropped curfews and restrictions on private gatherings. Mass gatherings of more than 300 are permitted once again. Venue capacity limitations have been removed. Social distancing rules have been dropped, as has quarantine for vaccinated visitors.

 

Hyve announces U.S. fintech acquisition

The Hyve Group may have lost 30% of its revenues with the collapse of its Russian portfolio, but CEO Mark Shashoua is looking to the future with Fintech Meetup. According to the company, this acquisition “forms part of a plan to create the biggest and best in-person and virtual fintech events.”

 

RELX releases 2022 trading update

Exhibitions now account for just 7% of RELX’s group revenues compared with its risk business (34% of revenues), scientific, technical and medical (37%) and legal (22%). Events have never looked less essential to the RELX portfolio.

 

UFI unveils recipients of Next Generation Leadership grant

A jury of exhibition industry leaders chaired by UFI president Monica Lee-Müller has selected the winners of the UFI Next Generation Leadership grant. The initiative focuses on “developing a new talent narrative for the exhibition industry.” There were a record number of applications this year, and as a result, UFI agreed to award a total of six grants this year.

Messe Frankfurt launches Paperworld India 2022

/

India, 4th April: International organiser, Messe Frankfurt, will launch its Paperworld India next month, bringing the Indian stationery industry together at its three-day exhibition.

Paperworld India will be held from 12th to 14th May 2022 at Jio World Convention Centre (JWCC), and will be held alongside the Corporate Gifts Show and Interior Lifestyle India presented by Ambiente India.

BCEC secures 77 new conventions

/

Brisbane, 19th April: The Brisbane Convention & Exhibition Centre (BCEC) has confirmed that it secured 77 new conventions, which will generate an estimated A$144 million (US$193 million) for the Queensland economy.

The events will support some of the state’s key sector industries including technology, transport, population, healthcare, science and research. It is expected the events will attract more than 50,000 delegates to Brisbane and benefit local businesses across Queensland’s hospitality and tourism sectors.

KLCC to host over 20 international events this year

/

Kuala Lumpur, 15th April: Malaysia recently re-opened its international borders. On the back of that news, the Kuala Lumpur Convention Centre (KLCC) will host a total of 117 business and entertainment events by the end of December this year – including over 20 international events, 10 conventions and 13 exhibitions.

Some of the events to be held at KLCC this year include the International Congress on Infectious Diseases (ICID) 2022; International Conference on Tropical Agriculture (ICTA) 2022; International Geoscience and Remote Sensing Symposium (IGARSS) 2022; Asia Turbomachinery & Pump Symposium (ATPS) 2022; 3rd Asia Optometric Congress 2022; International Medical Exhibition & Conference (IMEC EXPO) 2022; International Café & Beverage Show 2022; Control World Expo, Oil & Gas Asia 2022; and International Invention, Innovation & Technology Exhibition (ITEX) 2022.

Singapore prioritises business events for recovery

/

Singapore, 19th April: The Singaporean government has announced a S$500 million (US$368 million) subsidy to support the recovery of Singapore’s travel industry – placing emphasis on new unique attractions, and events with a sustainability and business tourism focus.

Although the government expects a full recovery of international travel will take several years, this subsidy is expected to speed the recovery of Singapore’s tourism and events sector in the short-term. This news follows the opening of Singapore’s borders on 1st April to fully vaccinated travellers, without requiring COVID-19 testing or quarantine on arrival.

TCEB holds first FAM trip in two years

/

Thailand, 11th April: The Thailand Convention and Exhibition Bureau (TCEB) held its first international FAM trip in two years. The 2022 Thailand MICE Familiarization Trip was organised for international delegates. It attracted 43 entrepreneurs from various part of the MICE industry. Delegates arrived from 15 countries and regions.

The FAM trip was made possible due to the Thai government’s easing of COVID restrictions and reopening the country to international visitors. TCEB focused on introducing the delegates to key MICE venues and attractions in Bangkok and Phuket.

DLG’s revenues dropped 69% in FY2021

/

Shanghai, 9th April: Last week, Shanghai-listed DLG Exhibitions (formerly Shanghai Lansheng) released its financial results for the year ended 31st December 2021. Revenues in the year were US$145 million. This represents a year-on-year decrease of 69%. Net profits fell 13% year-on-year, down to US$19 million. Diluted earnings per share in 2021 were RMB 0.224 (US$0.035).

In 2021, DLG held 12 physical exhibitions resulting in gross space sold of nearly 600,000 m2. The events attracted some 500,000 visitors. In the second half of 2021, exhibitions were postponed or cancelled due to COVID restrictions. In the beginning of 2022, COVID infections in China began to rapidly increase which severely impacted DLG’s exhibition business. Management expects the pandemic to have a large adverse impact on the company’s financial results in 2022.

CCID posts surprising rise in profits in FY2021

/

Beijing, 8th April: Hong Kong-listed CCID Consulting, a research and information service provider in China, has announced its financial results for the year 2021. Revenues in the year were US$37 million, up 11% year-on-year.

The company’s net profit jumped 57% compared with 2020, reaching US$6.5 million in the recent financial year. Diluted earnings per share in the year were RMB 0.0577 (US$0.0091).

MEX Exhibitions to launch new Indian events

/

New Delhi, 30th March: MEX Exhibitions has announced plans to launch new events in India. Leather Asia Expo and Shoe Technology 2022 will be held later this year in collaboration with India Exposition Mart.

The new shows will run from 10th to 12th November 2022 at India Expo Centre and Mart, Greater Noida, Delhi – NCR. The exhibitions will aim to serve the entire leather and footwear technology value chain industry. Mex Exhibitions is targeting exhibitors in the following segments: raw leather, leather products, footwear, and technology firms focused on the footwear industry.

Quick takes

/

SNIEC venue converted into hospital

Things are going from bad to worse in China – especially in Shanghai. Both SNIEC and the Shanghai World Expo Centre have been designated as quarantine sites for asymptomatic patients. City authorities have plans to transform more venues and stadiums into temporary hospitals. 2022 is increasingly looking like a complete write-off for the exhibition industry in China.

Hyve confirms plans to sell Russian events

In a company trading update, Hyve confirmed that it has entered into a conditional agreement to sell its entire Russian portfolio to Rise Expo Limited for US$94 million payable over a ten-year earn-out period. Hyve’s management noted that the Group expects to report a loss the deal.

More Asian governments ease COVID restrictions

More good news from Asia. In Jakarta, vaccinated international travellers no longer need to complete a PCR test on arrival and visa-free entry has been expanded to all travellers from ASEAN countries to Indonesia. In Thailand, the government plans to drop PCR tests for foreign visitors beginning in May.

Quick takes

/

Arc acquires Incisive

It seems that the much-anticipated post-pandemic M&A boom may have begun. UK-based Arc, which is led by Simon Foster, announced that it has acquired Incisive Media. The deal includes titles such as Investment Week, Professional Pensions, Professional Adviser, Cover, International Investment, Financial Services Forum and BusinessGreen.

 

UFI Asia Week wraps up

Last week, UFI held its inaugural UFI Asia-Pacific Week in place of the regular annual UFI Asia-Pacific Conference. This initiative allowed members, as well as the wider community, to gather face-to-face despite travel and gathering restrictions. Member-led activities were held in ten markets across the region – including Tokyo, Sydney, Singapore, Bangkok and Seoul.

COEX appoints new CEO, head of AKEI

In Seoul, the COEX venues announced the appointment of Dong-ki Lee as its new President and CEO. Lee was previously head of Korea International Trade Association’s Innovation Growth Division. He will also take leadership of the Association of Korean Exhibition Industry (AKEI).

 

US leads urge Biden to drop all COVID restrictions

The US is essentially open for business now, but the CEOs of US airlines as well as airline lobbying groups are urging the Biden administration to drop remaining COVID travel restrictions including testing and masking.

Sino Splendid limps out of the COVID era

/

Hong Kong, 31st March: Hong Kong-listed Sino Splendid (formerly China.com) announced its results for the financial year ended 31 December 2021. The company reported revenues of US$8.1m in 2021 compared with US$5.2m in 2020 – far below the US$14 million recorded in 2019.

The company’s loss narrowed slightly to US$2.8m in 2021 compared with US$3.0m in 2020. In 2019, the company recorded a loss of just US$342,000.

China sticks to zero-COVID policy

/

Shanghai, 5th April: As the rest of Asia moves towards normalcy, China is sticking to its zero-COVID policy. There are signs of frustration as Shanghai’s more than 25 million residents endure an ongoing lockdown reminiscent of the Spring of 2020 – not Spring 2022. There is no clear end in sight.

In 2022, Shenzhen, Tianjin and Jilin have endured COVID restrictions, but the approach of Shanghai is China's “biggest containment effort since it shuttered Wuhan at the start of the pandemic two years ago.” The commercial hub is looking at potentially weeks more of the same.

Singapore fully reopens for business

/

Singapore, 1st April: Another sign that Asia is truly getting past the pandemic – as of 1st April, Singapore opened its borders to fully vaccinated travellers, removing Vaccinated Travel Lanes.

Singapore will allow any fully vaccinated travellers and non-fully vaccinated children aged 12 and under to enter without using a Vaccinated Travel Lane(VTL), being tested or undergoing quarantine. Previously, Singapore had been using VTLs since August 2021. However, travellers will continue to be required to take a pre-departure PCR or antigen tests within two days of departure for Singapore.

Seoul adds another US$2.2m to support MICE

/

Seoul, 28th March: Seoul Convention Bureau (SCB), with backing from the Seoul Metropolitan Government, has allocated US$2.2 million in the budget to support the city’s business events sector.

Support areas will include: helping to provide a safe and secure environment for events, quarantine services, quarantine gates, and specialised sterilisation equipment at certain business events.

Tencent launches virtual event management solution

/

China, 21st March: Tencent Cloud, the cloud business of Tencent, launched a virtual/hybrid event management solution platform, Tencent Cloud Conference (TCC), to digitalise traditional offline events.

TCC provides a virtual platform to support physical exhibitions, booths, roadshows, conferences and forums, adapting them for online event portals, promotions and registrations.