Messe Frankfurt partners with Indian association

News this week: International trade fair organiser, Messe Frankfurt will partner with the Electric Lamp and Component Manufacturers Association of India (ELCOMA) to organise Light India 2012. Light India will be held from 5^th to 8^th October 2012 at Pragati Maidan in New Delhi, covering a gross area of 16,000 m². Exhibitors to feature at the show will include electric lamps, LED lighting products, compact fluorescent lamps amongst other categories.

Raj Manek, managing director, Messe Frankfurt Trade Fairs India Pvt Ltd, said in a media report, “Messe Frankfurt is looking forward to bringing its expertise to Light India. Currently, we organise three of the most respected lighting industry shows in the world… With its new Messe Frankfurt international connection, Light India participants will have a unique opportunity to update themselves with the latest products, technologies, trends and services from across the globe.”

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Hong Kong government budget to assist SMEs

News this week: The Hong Kong Trade Development Council (HKTDC) welcomed the latest budget from the Hong Kong government which features several measures aimed at bolstering the city’s small- and medium-sized enterprises (SMEs). The 2012 budget warned of an uncertain global economic outlook and included promises to: waive business registration fees, reduce charges for import and export declarations and profits taxes.

According to the HKTDC’s economists, the total value of the territory’s exports will be limited to 1% growth this year. The HKTDC will increase its efforts in promoting Hong Kong’s businesses to mainland Chinese enterprises as well highlighting the Hong Kong’s business platform and encouraging cross-border cooperation.

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Reed acquires Online Retailer event in Australia

News this week: Exhibition organiser, Reed Exhibitions announced the acquisition of Australia’s Online Retailer Conference and E-commerce Expo. However, financial details for the transaction were not disclosed. Online Retailer was launched in 1999 and claims to be one the largest events its category. The full article can be found here: Power Retail article.

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Messe Düsseldorf revenue up 7% in 2011

News this week: Germany-based trade fair and event organiser Messe Düsseldorf GmbH released financial figures for the year ended 31^st December, 2011. Overall, the group’s revenue was €360 million, up from €335 million in 2010. Preliminary results indicate a post-tax profit of €15.2 million.

Management reported sales from the company’s international exhibitions generated €34 million in 2011 – down compared to the €38 million in 2010. International exhibitions now account for nearly 30% of the group’s overall sales.

The company held 79 events outside of Germany last year in the CIS states, Czech Republic, China, Brazil, the UAE and India. From Asia, the group is expecting revenue of €7.5 million from Messe Düsseldorf China/Messe Düsseldorf Shanghai, and €5.1 million from Messe Düsseldorf ASIA / Singapore.

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TCEB introduces new MICE development plan

News this week: The Thailand Convention and Exhibition Bureau (TCEB) announced a three year plan for supporting and developing country’s MICE industry. The initiative will be known as the “MICE Capabilities Development Plan 2012”.

The plan has four main fundamental components: 1) establishment of a MICE working committee to develop the potential of Thailand’s MICE sector; 2) preparation of a research report on the implications of the launch of the ASEAN Economic Community (AEC) on the MICE sector; 3) organising of a nationwide series of educational workshops; and 4) focus on professional development training to build capacity and calibre of Thailand’s MICE professionals.

The National MICE Development Working Committee will include key players from Thailand’s MICE industry who will provide their knowledge and expertise in studying the implications of the AEC on Thailand’s MICE sector. The MICE workshops will be held in four cities: Bangkok, Pattaya, Phuket and Chiang Mai.

TCEB plans to offer a MICE Business course and a Leadership Programme for MICE professionals – conducted in English. Additionally, TCEB will launch a “MICE 101” course for university students in association with the Thai Incentive and Convention Association (TICA) and Thai Exhibition Association (TEA). The course will provide students with an introduction and overview of the MICE industry.

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Pico posts record revenues – US$452 million

News this week: Hong Kong-listed, Pico Far East Holdings announced its results for the year ended 31^st October 2011. Revenues hit a new high of US$452 million – up 14% year-on-year. Net profit grew 29% to US$32 million. The diluted earnings per share for the year were HK$0.2041 (US$0.026).

The exhibition & event marketing business generated 68% of the company’s revenues (US$309 million). Revenues from that business were flat compared with the previous year. The remaining revenues were generated through Pico’s brand signage & visual communication business (US$55 million), museum, themed environment, interior & retail business (US$49 million) and conference & show management business (US$39 million).

Greater China (including Hong Kong, Macau, Taiwan and PRC) generated more than half of Pico’s revenues totalling US$228 million. India, Malaysia, Singapore and Vietnam together generated US$129 million or 29% of total revenues.

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BCEC expansion officially opens

News this week: The Brisbane Convention & Exhibition Centre (BCEC) has officially opened its latest US$149 million expansion. Managed by international venue management group, AEG Ogden, the venue was expanded by 25,000 m² and will now provide 50% more convention space. Management are expecting 300 additional events will be held annually, in addition to the 1,000 existing events held at BCEC each year.

Located in the central business district, the expanded BCEC now consists of 44 meeting rooms, which includes three stand-alone tiered auditoriums. BCEC expects the expansion will generate around 100 additional full-time equivalent employees at the venue. BCEC will hold its first event in the expanded venue in mid-February and reportedly has holding bookings for a further 292 events.

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Beijing objects to U.S. labelling Taobao as a “notorious market”

News this week: Last week, Beijing hit a back at U.S. trade authorities stating that the U.S. “acted irresponsibly” when they cited Taobao, an Alibaba subsidiary, as a “notorious market.”

Shen Danyan, from China’s Ministry of Commerce, stated “Since there is no conclusive evidence, there is no detailed analysis, this is very irresponsible and not objective.”

This statement was a reaction to a list released by the U.S. Trade Representative (USTR) in mid-December. The list highlights markets used to sell pirated and counterfeited goods. The updated list did remove Baidu, the leading Chinese language search engine, but Taobao remains on the USTR list.

After the list was released in December, the Alibaba Group responded by stating that the company continued to be committed to protecting intellectual property rights.

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New convention centre approved in India

News this week: Plans to build a US$55 million international convention centre have been approved by the Indian state government of Bihar. The state of Bihar is located in the north-east of India and features a population of over 100 million people – making it the 3^rd most populous state in India.

The riverside convention centre will reportedly have a capacity of 5,000 which includes three meeting halls – each with a seating capacity of 50 to 300. Other facilities planned for the project will include a plenary hall, cultural and media centres, VIP lounge, shopping areas and a food court.

Nitish Kumar, Chief Minister of Bihar, commented in the press, “The government has already given its in-principle approval to the project, which is aimed to provide world-class venue for recreational, cultural and other activities in the city.”

The government did not release a completion date for the project.

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Yahoo discusses asset sale with Japanese partners

News this week: The Wall Street Journal reported this week that Yahoo is currently engaged in discussions with its Japanese partners in an attempt to determine the best strategy in a potential asset sale.

Yahoo Japan is reportedly valued at roughly US$6 billion and U.S.-based Yahoo Inc. is considering selling its stake in the Japanese company while trying to avoid incurring a large U.S. tax obligation. Yahoo Inc. owns approximately 35% of Yahoo Japan, while Softbank Corp. owns 42% of the company.

The Wall Street Journal article quoted Akira Kajikawa, Yahoo Japan’s chief financial officer, “Yahoo Inc. is still trying to finalize the mechanism [for selling its stake] and we are cooperating with them.”

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