Marina Bay Sands plans expansion

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Singapore, 5th April: Marina Bay Sands (MBS) has entered the final phase of design and programme enhancements for its planned expansion. The construction will begin in July this year and MBS’s management expects it to be completed by July 2029.

The expansion will include a luxury hotel tower with a sky roof, a 15,000-seat entertainment arena, additional MICE space, and new restaurants and bars. MBS will use the new arena to help attract top entertainers from Asia and around the world, and the additional MICE space to help attract more business events to MBS including exhibitions and conferences – several of which are wall-bound.

DLG Expo’s revenues up 84% in 2023

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Shanghai, 11th April: Earlier this week, Shanghai-listed DLG Exhibitions (formerly Shanghai Lansheng) released its financial results for the year ended 31st December 2023. Revenues in the year were US$200 million. This represents a year-on-year increase of 84%. The company attributed the growth in revenues to a strong performance from its domestic exhibition business.

Net profit jumped 141% year-on-year, reaching US$31 million. Diluted earnings per share in 2023 were RMB 0.52 (US$0.073).

Quick takes

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Hong Kong’s newest venue will have 50,000 seats

The Kai Tak Sports Park is scheduled to open in mid-2025. It will feature a 50,000-seat domed stadium and 10,000-seat indoor arena for sports and entertainment. ASM Global will manage the venue and have recently hired Matthew Lazarus-Hall to manage the entertainment business to be developed at Kai Tak Sports Park.

Biometric tech reshaping travel

A new white paper argues that touchless, highly efficient biometric technology is the answer for airports to securely cope with surging numbers of travellers. This technology could also transform registration at business events (in some countries).

New and renovated venues in multiple markets

Competition between venues is heating up. Three venues in Kuala Lumpur, Penang and Singapore are opening new facilities and refurbished meeting spaces. Other venues that have are expanded and improving supporting facilities include AsiaWorld-Expo in Hong Kong and Marina Bay Sands in Singapore.

Tier two Chinese cities attracting international incentives

So says TTGmice. This article reports that incentive trips to China are making a comeback in 2024 due to relaxed visa policies and the relative affordability of second-tier destinations. TTG reports that cities such as Kunming, Chengdu, Xi’an and Chongqing are attracting incentive groups.

Visits at Australian business events spent US$14b in 2023

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Australia, 28th March: Tourism Research Australia (TRA) has published some interesting business events data as part of its official statistics. For example, the result of its Domestics Visitor Survey (NVS) and International Visitor Survey (IVS) are included in the data.

In 2023, visitors travelling for business events spent A$20.9 billion (US$14.2 billion) in Australia, with A$2.6 billion (US$1.8 billion) coming from international visitors. International visitor numbers in 2023 were 742,000, which was 71% of the 2019 pre-COVID figure.

Pico Thailand returns profit in Q1

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Bangkok, 1st April: Earlier this week, Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, announced its results for the quarter ended 31st January 2024. Revenues during the quarter were US$7.9 million, representing a year-on-year increase of 19%.

The company posted a net profit of US$95,000 in the quarter, compared with a loss of US$210,000 in the same quarter of 2023. Earnings per share in the quarter were Baht 0.016 (US$0.00045).

SEEC Media narrows profit in FY2023

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Hong Kong, 28th March: Last week, SEEC Media, a Chinese B2B media group, released its financial results for the year ended 31st December 2023. Total revenues in the year were US$4.9 million, falling 48% year-on-year. However, the company narrowed its loss from US$11 million in 2022, down to US$4.8 million in 2023.

Nearly 70% of SEEC’s revenues were generated from its advertising services & sales in its books & magazines segment. Revenues from that business were US$3.4 million. This represents a year-on-year decrease of 47%.

CCID revenues up 37% in weak economy

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Beijing, 28th March: CCID Consulting, a research and information service provider in China, recently announced its financial results for 2023. Revenues were US$39 million, up 37% year-on-year. The company’s net profit jumped 159%, amounting to US$9.0 million. Earnings per share in the year were RMB 0.0901 (US$0.013).

More than 58% of CCID’s revenues were generated from its consulting services, amounting to US$23 million. This segment increased by 15% year-on-year. Its second largest business segment was its technology innovation platform services, generating revenues of US$12 million which accounts for 30% of the company’s total revenues. This segment generated US$2.1 million in the previous year. The remaining revenues were generated from its data platform services (US$4.4 million), which grew 207% compared with the previous year.

Quick takes

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Registration now open for the 2024 UFI Global Congress

UFI, The Global Association of the Exhibition Industry, has opened registration for its 2024 Global Congress. The 91st edition of the event, hosted by Koelnmesse, will take place from 20th to 23rd November 2024 in Cologne, Germany.

STB launches new global MICE campaign

The Singapore Tourism Board (STB) has launched a new global marketing campaign to position Singapore as the “World’s Best MICE City.” No doubt, a few other cities in Asia and around the world will have something to say about that. See below.

Hong Kong’s Tourism Chief declares “World’s Meeting Place”

The city’s tourism board says that MICE arrivals are nearing pre-pandemic levels and an international business-events publicity tour will follow. Hong Kong will be wooing international business event organisers as part of its campaign to establish the city as the “World’s Meeting Place.”

Alibaba’s share repurchase is underway

Alibaba announced the company repurchased 524 million ordinary shares for a total of US$4.8 billion during the quarter ended 31st March 2024. For the fiscal year ended 31st March 2024, the company repurchased nearly 1.3 billion ordinary shares for a total of US$12.5 billion. Alibaba currently has 19.5 billion shares outstanding.

Meorient’s profit up 274% in FY2023

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Hangzhou, 27th March: Earlier this week, Meorient, a Chinese exhibition organiser listed in Shenzhen, released its results for the year ended 31st December 2023. Revenues jumped 140% year-on-year, reaching US$118 million.

The company posted a net profit of US$27 million in the year, growing 274% over the previous year. Diluted earnings per share in 2023 were RMB 1.23 (US$0.1734). In 2023, Meorient organised multiple overseas exhibitions with a total net area of 120,000 m2, featuring 8,800 overseas exhibitors and 13,000 booths.

Sino Splendid’s revenue drops 36% in 2023

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Hong Kong, 26th March: Hong Kong-listed Sino Splendid (formerly China.com) has announced its results for the financial year ended 31st December 2023. The company reported revenues of US$5.4 million in the year, down 36% compared with the figure in 2022. The company’s loss also increased from US$5.5 million in 2022 to US$6.3 million in 2023.

More than 90% of Sino Splendid’s revenues were generated from its financial magazines and other media services, amounting to US$4.9 million, down 18% year-on-year. While its travel media business dropped 84% year-on-year, down to just over US$300,000.

HC’s revenues up 10% in 2023

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Hong Kong, 26th March: HC Group, an online B2B information services provider in China, reported total revenues of US$2.3 billion for the year ended 31st December 2023. This represents an increase of nearly 10% year-on-year.

Despite the rise in revenues, the company’s net loss widened from US$33 million in 2022 to US$239 million in 2023. The company attributed the loss to a write-off of goodwill and intangible assets related to its technology business as well as a loss from discontinued business operations.

Alibaba withdraws Cainiao IPO

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Hong Kong, 26th March: The leading e-commerce company in China, the Alibaba Group, announced plans to withdraw the initial public offering (IPO) and the listing application of its logistics subsidiary, Cainiao Smart Logistics Network Limited. The company was expected to be listed on the Hong Kong Stock Exchange (HKEX).

At the same time, Alibaba also announced plans buy the outstanding shares from the minority shareholders of Cainiao. Alibaba will pay US$0.62 per share, which represents a total consideration of up to US$3.75 billion. Alibaba currently owns approximately 64% of fully-diluted equity interest in Cainiao.

Quick takes

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AIME 2024 generates A$330m in new business

The Asia Pacific Incentives and Meetings Event (AIME) released an analysis of the 2024 edition, with business traded between exhibitors and buyers estimated to be worth more than A$330 million (US$215 million) over the next 12 months. More than 570 exhibitors and 4,000 visitors attended the show.

Messe Düsseldorf India announces new management team

Messe Düsseldorf India (MDI) announced Managing Director Thomas Schlitt will step down, while Millie Arthur Contractor and Ajay Kumar Gulati will be new General Managers, effective 1st April 2024.

HKTDC launches Smart Lighting Expo

The Hong Kong Trade Development Council (HKTDC) will open four major technology exhibitions in April, the inaugural HKTDC Smart Lighting Expo will join be added to the portfolio. The collocated International Lighting Fair, InnoEX and Electronics Fair attract 4,300 exhibitors from more than 20 countries and regions.

Terrapinn acquires hotel and accommodation show in Australia

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Australia, 18th March: Terrapinn, global media and event company, announced the company has acquired NoVacancy Expo, a leading trade show for the hotel and accommodation industry in Australia, from National Media. Financial details for the transaction were not disclosed.

NoVacancy Expo was launched in 2018, serving hotel and accommodation market. The show provides a platform for the ecosystem of suppliers, buyers and investors to seeking the latest solutions in technology, in-room, sustainability, furniture & design, operational, and guest experience.

Singapore builds new landmark at Marina Bay area

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Singapore, 21st March: Singapore’s Marina Bay area will have a new landmark, the NS Square, a space that takes in a national service-themed gallery, venues for large-scale events, and public recreational facilities. NS Square is expected to be available in 2027.

NS Square will replace the Marina Bay floating platform. The gallery will showcase the history of the Singapore Armed Forces, the Singapore Police Force and Singapore Civil Defence Force national servicemen through multimedia platforms and exhibits.

VNU Group launches Horti Agri Next Asia in 2025

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Bangkok, 12th March: International exhibition organiser, VNU Group, in collaboration with the VIV Worldwide network, announced to launch Horti Agri Next Asia (HAN Asia) 2025, showcasing the latest products, innovations, and advancements in horticultural food production, landscaping, controlled environment practices, environmental conservation, and agriculture.

The new show will take place from 12th to 14th March 2025, at IMPACT Muang Thong Thani, and it will co-locate with VIV Asia and Meat Pro Asia 2025. The co-located shows will be able to serve the entire livestock stock.

Melbourne to host of 2025 UFI Asia-Pacific Conference

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Melbourne, 14th March: Melbourne Convention and Exhibition Centre (MCEC) will host the 2025 UFI Asai-Pacific Conference, with the support of the Melbourne Convention Bureau (MCB).

The 2024 UFI Asai-Pacific Conference was held in Macai, attracting close to 300 industry leaders from 22 countries and regions. The 2025 conference will be held in Melbourne, running from 13th to 14th February, following Asia-Pacific Incentives and Meetings Event (AIME). Australia Business Events Association (ABEA) will also host a meeting at the MCEC in the same week.