ITE Group unveils acquisition in Malaysia

Conference and exhibition organiser ITE Group has announced that its wholly-owned subsidiary, International Trade and Exhibitions, acquired a 75 per cent stake in Trade Link, a Malaysian-registered company, for around 4.0m pounds.

Conference and exhibition organiser ITE Group has announced that its wholly-owned subsidiary, International Trade and Exhibitions, acquired a 75 per cent stake in Trade Link, a Malaysian-registered company, for around 4.0m pounds.

Trade Link runs a number of events that take place together annually at Kuala Lumpur's Putra World Trade Centre.

Revenue generated from the entire business is expected to be around £2.0m in 2013 full year and the acquisition is expected to be earnings enhancing in this financial year.

The remaining 25% of Trade Link is held by exhibition industry entrepreneur Albert Lai who remains the Chief Executive Officer of the company.

ITE's Chief Executive Russell Taylor said: "This acquisition is a strategic move for ITE into the South East Asian exhibition market. Trade Link operates some of South East Asia's key events in our strongest sectors which are expected to realise good growth in the future.

"We are very pleased to have retained the services of Albert Lai who created these events and we will be working closely with him to grow them."

Recommended

Share tips of the week – 22 October
Share tips

Share tips of the week – 22 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
22 Oct 2021
Three dividend stocks from the dynamic Asia/Pacific region
Share tips

Three dividend stocks from the dynamic Asia/Pacific region

Professional investor Sat Duhra of the Henderson Far East Income investment trust highlights three of his favourite stocks.
18 Oct 2021
Share tips of the week – 15 October
Share tips

Share tips of the week – 15 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
15 Oct 2021
Trading: stash the family cash in this cheap wealth management firm
Trading

Trading: stash the family cash in this cheap wealth management firm

Wealth management is a growth market. Rathbone Brothers should be a prime beneficiary – and looks cheap. Matthew Partridge explains the best way to pl…
12 Oct 2021

Most Popular

How to invest as we move to a hydrogen economy
Energy

How to invest as we move to a hydrogen economy

The government has started to roll out its plans for switching us over from fossil fuels to hydrogen and renewable energy. Should investors buy in? St…
8 Oct 2021
Properties for sale for around £1m
Houses for sale

Properties for sale for around £1m

From a stone-built farmhouse in the Snowdonia National Park, to a Victorian terraced house close to London’s Regent’s Canal, eight of the best propert…
15 Oct 2021
How to invest in SMRs – the future of green energy
Energy

How to invest in SMRs – the future of green energy

The UK’s electricity supply needs to be more robust for days when the wind doesn’t blow. We need nuclear power, says Dominic Frisby. And the future of…
6 Oct 2021