SingEx Holdings and Sphere Exhibits, two Singaporean exhibition companies, have announced they are to merge.
SingEx-Sphere will be the name of the new merged company, which will provide a portfolio of event management, venue and consultancy services.
SingEx is a subsidiary of Temasek and Sphere is a subsidiary of Singapore Press Holdings (SPH) Limited. Under the merger, Temasek will own 60% of the new company while SPH will own 40%.
Robin Hu, current chairman of SingEx, will be appointed chairman of SingEx-Sphere. He commented: “Events and exhibitions remain the most robust marketing channels for businesses around the world. Both SingEx and Sphere Exhibits, with over five decades of combined experience in organising and hosting trade and consumer shows across a variety of sectors, have built a strong foundation for the MICE scene in Singapore and our region.
“The ambition of the merged entity is to continue building on its firm foundation by adding to it additional intellectual properties in the form of new events and exhibitions via both organic curation and inorganic investments.
“We believe Covid, while having a dampening impact in the short term, had given rise to new opportunities in the form of hybrid activities hitherto unimagined. Our industry is fast becoming a digitally enabled intellectual property business. Those who are adaptable, nimble and unafraid to reinvent will succeed.”
Mr Ng Yat Chung, CEO of SPH, added: “We look forward to working with Temasek to achieve SingEx-Sphere’s vision and push the MICE industry in Asia-Pacific to greater heights for the benefit of both consumers and businesses. This merger will allow us to tap on each other’s expertise, resources and networks to seize new opportunities to enhance the portfolio and achieve growth regionally."