ASIA - Star Publications' wholly-owned subsidiary I.Star Ideas Factory has acquired the business and assets of CNM Events Marketing for RM45m (US$14.2m).
CNM Events, a company that deals with events related to home and lifestyle, is the owner of the established Perfect Livin and Perfect Lifestyle exhibition brands.
Star, owner of Malaysia’s self-proclaimed ‘people’s paper’ claims CNM Events will provide a profit before tax guarantee of at least RM30m for the three years following the agreement’s completion date.
The first Perfect Livin event was held at the Kuala Lumpur Convention Centre in 2008. In 2011 the exhibition was held at PWTC and was the venue’s largest show, with 108,000 visitors attending the April showcase and 123,000 visitors attending the August edition. The total number of visitors to Perfect Livin’s events this year is estimated at 800,000, growing to 1m in 2012 as a results of plans for additional exhibitions.
A company spokesman said the move marks another milestone for the group as it continues its expansion to become a complete media conglomerate and ‘total portfolio player’.
Star’s current portfolio of events and exhibitions includes The Star Education Fair, The Star Property Fair and CHEER cheerleading competition, among others.
“Perfect Livin is the perfect place to connect clients and the consumers,” said Star executive deputy chairman Datuk Vincent Lee. “This is not just about having exhibitions but there are also sales. Consumers buy products there. Therefore with all these shows that we are going to have - and we are going to have more shows - we are going to have some one million customers walking through our Perfect Livin exhibitions. This is going to be great for all our clients.”
Perfect Livin has two annual exhibitions each in Penang, Kuala Lumpur and Kuantan while Perfect Lifestyle has two exhibitions a year in the Midvalley Megamall, Kuala Lumpur. By 2013 Star hopes to have exhibitions in Kuching, Johor Baru and Kota Baru.
Managing director of Mayfield Media Strategies Steve Monnington said the Southeast Asian exhibition industry saw a similar move in Singapore in 2010 by Singapore Press Holdings.
“The move by newspaper groups into the consumer exhibition space is something I think we will see more of as they look for new revenue streams to combat falling print advertising revenues,” he commented.
The Kuala Lumpur Convention Centre (KLCC) recently built a 2,600sqm semi-permanent marquee (pictured) adjacent to the venue to meet what it claims is rising demand for larger space.
Any news? Contact exhibitionworld@mashmedia.net
