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

Three sustainable stocks that are doing well by doing good
Share tips

Three sustainable stocks that are doing well by doing good

Professional investor Peter Michaelis of the Liontrust Sustainable Investment Team picks three stocks to buy that are helping to create a cleaner, saf…
26 Jul 2021
Share tips of the week – 23 July
Share tips

Share tips of the week – 23 July

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
23 Jul 2021
Will Zoom’s $15bn purchase help it expand?
Tech stocks

Will Zoom’s $15bn purchase help it expand?

The videoconferencing platform became a household name during the pandemic, but it now needs new sources of growth. Alex Rankine reports
23 Jul 2021
Philip Morris goes “beyond nicotine”
Stocks and shares

Philip Morris goes “beyond nicotine”

US tobacco giant Philip Morris International has agreed to pay £1bn for British inhaler specialist Vectura.
23 Jul 2021

Most Popular

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism
Economy

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism

Russell Napier talks to Merryn about financial repression – or "stealing money from old people slowly" – plus how Asian capitalism is taking over in t…
16 Jul 2021
Why the UK's 2.5% inflation is a big deal
Inflation

Why the UK's 2.5% inflation is a big deal

After years of inflation being a financial-assets problem, it is now an “ordinary things” problem too, says Merryn Somerset Webb. But central banks st…
16 Jul 2021
Commodity supercycle or not, here’s a metal that’ll still be in demand – tin
Industrial metals

Commodity supercycle or not, here’s a metal that’ll still be in demand – tin

Commodity prices may have come off the boil recently. But for tin, the only way is up. Dominic Frisby picks the best ways to invest.
7 Jul 2021