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

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

A simple way to profit from the next big trend change in the markets
Investment strategy

A simple way to profit from the next big trend change in the markets

Change is coming to the markets as the tech-stock bull market of the 2010s is replaced by a new cycle of rising commodity prices. John Stepek explains…
14 Jan 2021
Forget austerity – governments and central banks have no intention of cutting back
Global Economy

Forget austerity – governments and central banks have no intention of cutting back

Once the pandemic is over will we return to an era of austerity to pay for all the stimulus? Not likely, says John Stepek. The money will continue to …
15 Jan 2021
Here’s why markets have shrugged off the US political turmoil
Investment strategy

Here’s why markets have shrugged off the US political turmoil

Despite all the current political shenanigans in the US, markets couldn’t seem to care less. John Stepek explains why, and what it means for your mone…
7 Jan 2021
Free 6 issue trial then continue to