Malaysian Media Company Acquires Events Business

August 6, 2012

The subsidiary of Malaysia-based Star Publications, I.Star Ideas Factory, has acquired the business and assets of events organiser CNM Events Marketing for US$14.2 million. As part of the deal, CNM Events will provide a profit before tax guarantee of at least US$9.5 million over three years after the deal is complete.

CNM Events’ portfolio of events and exhibitions include The Star Education Fair, The Star Property Fair and CHEER cheerleading competition. The company’s other major focus is on home and lifestyle, and it is also the owner of the Perfect Livin and Perfect Lifestyle exhibitions.

First held in 2008, the Perfect Livin fair was held at the Putra World Trade Centre (PWTC) in 2011, and reportedly attracted 108,000 visitors and 123,000 visitors to the April and August editions, respectively.

Steve Monnington, managing director of Mayfield Media Strategies, commented that a similar acquisition occurred in Singapore in 2010 by the Singapore Press Holdings. Monnington said, “The move by newspaper groups into the consumer exhibition space is something I think we will see more of as they look for new revenue streams to combat falling print advertising revenues.”

Add new comment

Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.    Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.    Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.   The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.    MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.     MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.