CM Organiser embarks on Bt200-million expansion
To mark its 21st anniversary, CM Organiser is investing Bt200 million in re-branding and restructuring activities that will see it diversity from event organising into a total event-management and communications service under the new name CMO Pcl.
The firm targets Bt2 billion in revenue by the end of 2014.
Group chief executive officer Sermkhun Kunawong said yesterday that under this strategic plan, the firm would spend about Bt150 million to build a new office complex, Bangkok Creative Playground, on a 12.5-rai site that will also house the offices of PM Center, a subsidiary.
The new office will welcome both local and international clients.
This year the firm will also invest in supporting equipment and facilities, and plans to form joint ventures with at least three companies in the information technology, new media and design businesses, either at home or overseas.
“The move is aimed at strengthening our existing core businesses,” Sermkhun said.
The firm has seven subsidiaries. The Eyes, established in 1986, provides multimedia production services for local clients. This year it will start exporting technology to neighbouring countries such as Laos, Cambodia and Burma. Sermkhun said The Eyes expected to see annual growth of 10 per cent.
PM Center provides total event equipment-supply solutions; CME focuses on event organising and cultural events; CMC offers fan-based community communications; CMEX handles exhibition and museum management at home and overseas; cm mice supports the group’s MICE (meeting, incentive, convention and exhibition) business; and cm art is responsible for art management.
The firm recently introduced two additional ventures: ICM, which will seek strategic partners for special music, movie and sports events; and Odyssey, a multi-disciplinary retail-marketing agency.
Sermkhun said the aggressive expansion was the result of intense competition among local players, particularly those organising small events with budgets of less than Bt1 million.
Meanwhile, consumer behaviour has changed as a result of developments in communications technology, the social media boom and the high penetration rate of smartphones and tablet devices in the Kingdom, the CEO said.
Given these factors, revenue is expected to reach Bt1.1 billion this year, up 10 per cent from last year, and to reach Bt2 billion within three years.
The industry is expected to grow by a strong 10 per cent this year. The firm expects to enjoy a big boost from the launch of the Asean Economic Community in 2015, Sermkhun said.
