Event firm CMO plans expansion in Indonesia

CEO Sermkhun Kunawong said last week that he hopes a deal can be sealed this year before holding the first events in the middle of next year.
The projects might be run by a new joint venture or in partnership with a local firm. In Indonesia, CMO focuses on national ceremonies and business events.
There is room to grow for the event business there, as the population is 230-million strong and international companies are now setting down roots there due to the high purchasing power and political stability.
Indonesia will be the fourth country where it operates overseas after Cambodia, Vietnam and Myanmar.
The aggressive expansion strategy was the result of intense competition among local players, particularly those organising small events with budgets of less than Bt1 million.
The firm expects to enjoy a big boost from the launch of the Asean Economic Community in 2015, with revenue from domestic and regional markets reaching a total of Bt2 billion.
Part of its preparations is a new Bt150-million office complex called Bangkok Creative Playground on a 12.5-rai site that will also house the offices of PM Centre, a subsidiary.
The new office will welcome both local and international clients.
This year the firm will also add supporting equipment and facilities and form joint ventures with at least three companies in the information technology, new media and design businesses, either at home or overseas.
CMO’s second-quarter re-venue dropped to Bt186.5 million from Bt189.9 million in the same quarter last year because some clients put their events on hold or cancelled their market-ing activities.
But those postponed events would be held this year, so revenue should increase 10 per cent to Bt1.1 billion this full year as planned, he added.