Click here to read this mailing online.

Your email updates, powered by FeedBlitz

 
Here is a sample subscription for you. Click here to start your FREE subscription


"Asia Business Media" - 5 new articles

  1. Inaugural Seatrade Cruise Asia in Busan postponed
  2. Global Sources announces US$50 mil share buyback
  3. Pico Thailand records profit in Q2
  4. THAIFEX concludes with record 35,000+ visitors
  5. The Hub fashion show relocates to Shanghai
  6. More Recent Articles
  7. Search Asia Business Media
  8. Prior Mailing Archive

Inaugural Seatrade Cruise Asia in Busan postponed

News this week: The inaugural edition of Seatrade Cruise Asiahas been postponed to a later date as a result of the MERS virus outbreak in Korea according to the organiser and UBM subsidiary, Seatrade Communications. The two-day trade show was scheduled to take place at the Busan Exhibition and Convention Centre from 11th to 12th June.

Seatrade received an increasing number of withdrawal notifications from its key stakeholders including delegates, speakers and cruise lines. The organiser says its planned conference programme can no longer be delivered as scheduled as regional travel restrictions have been imposed by other Asian countries.

Andrew Williams, general manager Seatrade, commented, “This decision has not been an easy one and we have looked into every possibility, however in consultation with the industry, we feel that this is the most appropriate course of action.”

This post is excerpted from BSG's weekly e-newsletter which is part of our subscription research service, BSG Tracker. Visit our websiteto find out more about this service. You can also follow us on Twitterfor all the latest updates.
    

Global Sources announces US$50 mil share buyback

News this week: NASDAQ-listed Global Sources announced this week that the company plans to launch a cash tender offer for up to US$50 million in outstanding common shares at US$7.50. That represents a 43% premium over the closing price on Tuesday (US$5.23). Under the terms of the offer, the company may buy back as many as 6.67 million common shares or close to 22% of outstanding shares. According to its financial statement, as of 31stMarch 2015, the company had US$103.6 million in cash and cash equivalents.  

Global Sources has made similar offers three times in the past - buying back US$50 million worth of shares at US$10 per share in 2014, US$100 million at US$9 per share in 2010 and US$50 million at US$8 per share in 2008.

Merle A. Hinrich, Global Sources’ executive chairman, said, “I am pleased to announce that after carefully considering all of the options to return capital to the shareholders, the Board of Directors has approved a tender offer as the most efficient alternative at this time. At the close of the transaction, Global Sources will still have a strong balance sheet, giving us the financial strength to pursue our growth initiatives and other options to invest in the business.”

This post is excerpted from BSG's weekly e-newsletter which is part of our subscription research service, BSG Tracker. Visit our websiteto find out more about this service. You can also follow us on Twitterfor all the latest updates.
    

Pico Thailand records profit in Q2

News this week: Last week, Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, announced its results for the quarter ended 30th April 2015. Revenues in the quarter were US$8.7 million, up 34% over the same quarter in 2014. The company recorded a net profit of US$380,000 in the period, compared with a net loss of US$94,000 last year.

Pico Thailand attributed the growth in revenue to its event marketing business stemming from new customers and an increase in marketing-budget spending from the existing customers.

Pico Thailand also reported its results for the half-year ended 30th April. Revenues in the six-month period were US$15 million, a modest increase of 1.1% over the same period last year. The company recorded a net profit of US$377,000, representing strong growth over the 2014 figure of US$78,000. Earnings per share in the period were Baht 0.059 (US$0.0018).

This post is excerpted from BSG's weekly e-newsletter which is part of our subscription research service, BSG Tracker. Visit our websiteto find out more about this service. You can also follow us on Twitterfor all the latest updates.
    

THAIFEX concludes with record 35,000+ visitors

News this week: International exhibition organiser, Koelnmesse, concluded its THAIFEX – World of Food Asia 2015 last month, with record number of visitors. Running from 20thto 24th May at IMPACT Exhibition Center, the five-day trade show attracted more than 35,000 trade visitors, of those, 7,274 were from overseas.

Among the 1,675 exhibitors from 16 sectors, 811 were international exhibitors. This year, a total of 24 country and provincial groups attended the show, including three new national pavilions representing Germany, Mexico and Turkey. Three supporting shows including World of Seafood, World of Coffee & Tea and the World of FoodService were held concurrently with THAIFEX.

Michael Dreyer, vice president, Asia Pacific, Koelnmesse Pte Ltd, said, “THAIFEX – World of Food Asia, celebrated our tenth anniversary last year. This year, we marked a milestone by expanding our fairground, and the continued growth and encouraging response is solid proof that we are growing in the right direction that we started out in. This has been very rewarding for Koelnmesse and our co-organisers, DITP(Department of International Trade Promotion) and TCC (The Thai Chamber of Commerce).”

This post is excerpted from BSG's weekly e-newsletter which is part of our subscription research service, BSG Tracker. Visit our websiteto find out more about this service. You can also follow us on Twitterfor all the latest updates.
    

The Hub fashion show relocates to Shanghai

News this week: The upcoming 5th edition of The HUB, billed as Asia’s premium brand fashion trade show, will relocate from Hong Kong to Shanghai this year. The show will run from 13th to 15th October at Central Studios, to coincide with the Shanghai Fashion Week taking place at the nearby Xintiandi district.

The HUB in Shanghai will showcase around 40 international brands together with a selection of leading Chinese designers. Confirmed exhibitors so far include Boy London, Dienastie from Sweden, Rack & Ruin from the U.K., Swims of Norway, Flying Zachinnis and Juma from the U.S., along with leading Beijing-based designers Zhang Chi and Capitale Nord.

Richard Hobbs, co-founder of The HUB, said, “From the outset just two years ago we knew that at some point we would take The HUB to Mainland China and now is the right time… From today, China will be reducing import tariffs on a number of clothing and footwear categories and we can only see more openness as China makes it easier for brands to import, find buyers and partners.”


This post is excerpted from BSG's weekly e-newsletter which is part of our subscription research service, BSG Tracker. Visit our websiteto find out more about this service. You can also follow us on Twitterfor all the latest updates.
    

More Recent Articles

You Might Like

Click here to safely unsubscribe from "Asia Business Media."
Click here to view mailing archives, here to change your preferences, or here to subscribePrivacy