Pico 2023 interim results: profits rise 47%

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Hong Kong, 30th June: In a good sign for the industry, last week, Hong Kong-listed Pico Far East Holdings announced its interim results for the six months ended 30th April 2023. Revenues were US$319 million, representing a year-on-year increase of 6.3%.

Profits in the six-month period grew 47% amounting at US$13 million. Diluted earnings per share in the first half of the financial year were HK$0.0816 (US$0.0104).

More than 86% of Pico’s revenues were generated from its exhibition, event & brand activation business amounting to US$275 million. This business was up by 12% year-on-year.

Hong Kong’s business events industry rebounds

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Hong Kong, 29th June: Hong Kong is welcoming new conferences wins which the city is adding to its portfolio of returning trade shows – all of which are boosting its business events profile in the region.

Newly won events include: EDGE Global AI & Web3 Investment Summit, FOMO Asia Genesis Conference, WOW Summit 2023, and the Insurtech Insights Asia 2023 Conference. The events will be held the Hong Kong Convention and Exhibition Centre (HKCEC), AsiaWorld-Expo (AWE) and various hotels.

MCEC posts record number of visitors in May

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Melbourne, 3rd July: In May, the Melbourne Convention and Exhibition Centre (MCEC) recorded its most active month in its history, welcoming over 89,000 visitors to the venue.

During May, more than 76 events were hosted at MCEC, including manufacturing, hospitality, health, business, industry and consumer events. According to MCEC, the venue employed some 1,000 people to support over 1,700 suppliers and businesses in the operation and delivery of the events.

Separately, the Melbourne Convention Bureau (MCB) also reported that it hosted 46 business events in May, contributing approximately US$100 million to the local economy of the state of Victoria.

WieTec China partners with Informa Markets

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Shanghai, 27th June: WieTec China, an exhibition serving the environmental industry, concluded earlier this month for the first time since China’s reopening. More than 3,500 brands presented over 90,000 products from the environmental industry.

The organisers of WieTec China, All-China Environment Federation, China Energy Conservation Association and Shanghai Hexiang Convention and Exhibition, have also announced that they have established a strategic partnership with Informa Markets in order to broaden its international reach.

Inaugural PIFA2023 held in Singapore

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Singapore, 26th June: Pro Integration Future Asia 2023 (PIFA2023), a professional audiovisual and entertainment lighting (AVL) technologies exhibition and conference, was launched in Singapore, featuring some 100 exhibitors from 13 countries.

Running from 26th to 28th June 2023, the show was organised by Montgomery Events Asia, with its strategic partner, the Professional Audio Visual & Lighting Integration Association of Singapore (AVLIAS). It was held at Marina Bay Sands Expo & Convention Centre.

HKTDC opens its Book Fair in July

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Hong Kong, 29th June: The Hong Kong Trade Development Council (HKTDC) will run its enormous Hong Kong Book Fair next month at the Hong Kong Convention and Exhibition Centre (HKCEC) showcasing more than 760 exhibitors.

It will be held concurrently with the Hong Kong Sports & Leisure Expo and World of Snacks. These fairs will run from 19th to 25th July 2023. This year’s Book Fair theme will be Children’s and Young Adult Literature, featuring children’s and young adults’ literature.

Quick takes

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Monica Lee-Müller honoured by HK government

Former UFI president, Monica Lee-Müller, the managing director of HKCEC will receive, later this year, the Medal of Honour from John Lee, Chief Executive of the Hong Kong Special Administrative Region Government. Congratulations, Monica!

Macau to make it easier to hire overseas talent

It seems all industries across Asia are dealing with a talent shortfall. Tiny Macau needs to address this problem head-on. Macau is planning to open its doors to overseas talent. The government wants to attract at least 1,000 non-local professionals through a strategy covering healthcare, high-tech, finance, culture, sport, and tourism.

IATA revises HK’s aviation recovery period

Hong Kong’s economy and its business events industry cannot recover if the air links to the city are not re-established to at least 2019 levels. Fortunately, IATA has upgraded its passenger traffic recovery projection for Hong Kong. It is now expecting to see a recovery to pre-crisis levels by the end of 2024.

RX appoints new Global CSO

First RX appointed Hugh Jones as CEO coming from outside the exhibition industry. And now Jones has hired Peter Lindsey, the ex-Chief Strategy Officer at the Telegraph Media Group and from Bain & Company before that. It will be interesting to see where they take RX.

Daniel Zhang resigns as Alibaba Chairman and CEO

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Hong Kong, 19th June: Earlier this week, the leading e-commerce company in China, the Alibaba Group, announced major leadership changes.

 

Executive Vice Chairman, Joseph C. Tsai, will succeed Daniel Zhang as Chairman. Chairman of Taobao and Tmall Group, Eddie Yongming Wu, will succeed Zhang as CEO and replace Zhang on the Alibaba Group’s board of directors.

 

The appointments will take effect on 10th September 2023. Zhang will continue to lead Alibaba Cloud Intelligence Group as its Chairman and CEO.

AsiaWorld-Expo to host Super Terminal Expo

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Hong Kong, 20th June: Hong Kong’s AsiaWorld-Expo (AWE) signed a Memorandum of Understanding (MoU) with Informa Markets agreeing to host Informa’s inaugural Super Terminal Expo in November 2024.

 

The inaugural Super Terminal Expo will be organised by Informa Markets, and will feature cutting-edge solutions and technologies from the transportation and logistics industries. The event will also include seminars, panel discussions, and keynote speeches to equip attendees with valuable new insights into the latest trends, technologies, and best practices for cargo and passenger terminals.

GILE 2023 records significant increase in participation

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Guangzhou, 16th June: Messe Frankfurt’s 28th edition of the Guangzhou International Lighting Exhibition (GILE) concluded on 12th June 2023. The organiser stated that the event recorded a significant growth in exhibitor and visitor numbers.

 

Running concurrently with Guangzhou Electrical Building Technology (GEBT), the concurrent events took place at the China Import and Export Complex (Canton Fair Complex) in Guangzhou, covering a gross area of over 220,000 m2.

 

The events featured 3,318 exhibitors from 18 countries and regions, which was an increase of 157% from the previous edition. A total of 208,000 visitors from 140 countries and regions attended the events, representing a 62% increase.

Trenchless Asia 2023 concludes at KLCC

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Kuala Lumpur, 13th June: Kuala Lumpur Convention Centre (KLCC) hosted the rotating biennial event, Trenchless Asia 2023.

 

The event returned to the venue for the third time and to Asia for the first time since the pandemic, the event featured 150 exhibitors from 27 countries as well as some 3,000 delegates. The exhibition featured the trenchless industry’s latest advancements in economically viable, sustainable, and functional underground infrastructure solutions. Occupying a gross space of 5,000 m2, the event also included 24 conference sessions.

Quick takes

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Global CEO Summit returns to Shanghai

The exhibition industry’s Global Exhibition CEO Shanghai Summit is back in Shanghai after a three-year disruption due to COVID. This year’s theme was “New Horizon, New Vision, New Growth.” The summit is supported by the Shanghai Convention & Exhibition Industries Association (SCEIA), UFI, SISO and other industry associations.

Penang attracting B2B events

The Electronics Manufacturing Expo Asia (EMAX) and Penang Manufacturing Expo (PMAX) will be held in July at the Setia SPICE Convention Centre in Penang. These events are supposed to be up 30% featuring more than 200 international exhibitors.

Macau’s visitor numbers surging

The Macau government reported that visitor arrivals totalled 2.21 million in May. That represents an increase of 270% year-on-year. Same-day visitors (1,124,977) and overnight visitors (1,088,830) rose by 213% and 350% year-on-year respectively. This is very good news for the city which relies on visitors, primarily from Mainland China, for every aspect of its economy from gaming to MICE.

Informa latest trading update

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London, 15th June: London-listed Informa PLC released its latest trading update, with strong year-on-year growth and further progress on its Growth Acceleration Plan 2 (GAP 2).

 

In the first five months of the year, Informa posted revenue growth of 24.5%, due to strong 31% increase in B2B Markets. All three B2B businesses posted strong growth during the period: Informa Markets (43.5%), Informa Connect (19%) and Informa Tech (8.3%).

Pico Thailand’s revenues up 25%

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Bangkok, 8th June: Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, has released its results for the quarter ended 30th April 2023. Revenues in the quarter were US$9.1 million, representing a year-on-year increase of 25%.

 

The company posted a net profit of US$617,000 in the quarter, compared with a profit of US$16,000 in the same quarter of last year. Pico’s management attributed the increase in revenues and profit to the Thai government’s easing of COVID-19 controls, and the burgeoning economic recovery in Thailand.

Messe Frankfurt and VIETRADE launch new Vietnam textile fair

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Vietnam, 12th June: Following the signing of a memorandum of understanding (MOU) in March, Messe Frankfurt (HK) Ltd and the Vietnam Trade Promotion Agency (VIETRADE) have announced the launch of a new show, the Vietnam International Trade Fair for Apparel, Textiles and Textile Technologies (VIATT), running from 28th February to 1st March 2024 at the Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City, Vietnam.

 

Organised by Messe Frankfurt (HK) Ltd and VIETRADE, the new VIATT 2024 will host an extensive mix of international and domestic exhibitors covering various textile sub-sectors. The show will play an important part in shaping the future of Vietnam’s textile industry by linking players from across Asia, Europe and beyond with this vibrant market.

Quick takes

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Hugh Jones elected UFI President for 2024-25

The UFI Board of Directors has elected Hugh Jones as UFI President for the 2024-25 period. As Incoming President, Jones joins President Geoff Dickinson and Outgoing President Michael Duck to form the UFI Presidential Trio for the 2023-24 term. UFI also announced its four new Chapter Chairs: Panittha Buri (Asia-Pacific), David Boon (Europe), Raul Strauss Justiniano (Americas) and Said Salim Al Shanfari (Middle East & Africa).

Koelnmesse back on the road to success

Despite the challenges facing the industry in recent years, Koelnmesse experienced a resurgence in the trade fair business in 2023 which has significantly boosted revenue for the financial year. According to Gerald Böse, President and Chief Executive Officer of Koelnmesse, “We have faced up to the global challenges and achieved revenue of 240 million euro, which is a significant increase on the previous year.”

Hyve acquired by Providence and Searchlight

Global events company Hyve has been acquired by funds advised by Providence Equity Partners L.L.C. (Providence) and Searchlight Capital Partners (Searchlight). Following the acquisition, Hyve Group plc was delisted from the London Stock Exchange on 22nd May 2023.

Leading shows return to Hong Kong next year

Hong Kong’s trade show comeback continues with the return of Vinexpo Asia, which was held in Singapore last month, and the Asia Pacific Leather Fair, which previously held events in Bangkok and Dubai. Both events will be held in Hong Kong next year, along with four new trade shows – indicating returning confidence in the market.