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International Furniture Fair Singapore Pte Ltd. Established to Organize Furniture & Furntiure Related Exhibitions

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The Singapore Furniture Industries Council (SFIC)announced the start-up of a new company – the International Furniture Fair Singapore Pte Ltd (IFFS Pte Ltd) – and sold a 40% share of the company to Meeting Planners International Pte Ltd (MP). IFFS Pte Ltd will focus on organising furniture and furniture-related exhibitions and events. SFIC will transfer the organising of its flagship furniture trade show – the International Furniture Fair Singapore (IFFS) – to the new company. SFIC, as the majority shareholder will own 60% of the company. As furniture trade shows are primary platforms for the world’s furniture manufacturers and buyers to conduct their import/export trade, SFIC will combine its vast domain knowledge of the global furniture industry and furniture fair organising experience with MP’s core strengths in global event management, as well as the worldwide network of offices of MP’s ultimate holding company, PICO Far East Holdings Ltd, to grow the annual IFFS into an iconic, world-class, international trade show, and develop new furniture trade exhibitions and events both locally and overseas. One of the new company’s primary objectives is to expand the IFFS from its present size of 55,000 sqm to 100,000 sqm by 2009. This will make the show the largest annual international trade show in Singapore and consolidate the show’s leadership position as the best furniture show in Asia. With a bigger IFFS, SFIC members will be able to meet more international buyers and enjoy enhanced membership benefits related to the show’s accelerated future growth. Mr James Koh, President of the SFIC and Chairman of IFFS Pte Ltd, said: “While the IFFS has been growing steadily over the years, many competing shows in the region are growing in similar manner. With this move, IFFS Pte Ltd can tap on the best from both SFIC and MP. This will enable the company to overcome the challenges posed by the competition and achieve greater success for the IFFS.” Mr Koh, added: “The interests of our members remain the top priority of SFIC. Thus, the objective of setting up the new company is to focus in developing new furniture shows and other events to provide new opportunities for our members to showcase their products and conduct their business. We also plan to replicate the success of the IFFS and create similar trade shows overseas, especially in countries where we can leverage MP’s established facilities.” He continued: “The new shows will allow IFFS Pte Ltd to create new revenue streams for shareholders. As the majority shareholder, SFIC will be able to use the additional revenues to develop more industry development programmes for our members. After all, the SFIC’s ultimate aim is to concentrate on our core industry development activities so that Singapore’s furniture industry can continue to grow stronger and become a significant global player.” Mr James Chia, Chairman of Meeting Planners International Pte Ltd, said: "We recognise the huge business potential and tremendous opportunities that will grow out of this strategic alliance. With our good working knowledge of the MICE industry, we are in an advantageous position to play a key role in advancing the standing of IFFS internationally and to grow in other related areas.” Mr Quek Chin Tuan, the former Director of the Fairs Division of the SFIC, will helm the new company as its Chief Executive Officer, with immediate effect. About Singapore Furniture Industries Council (SFIC) Singapore Furniture Industries Council (SFIC) was established in 1981 as the official representative body of Singapore's furniture industry. It currently represents 95% of furniture manufacturers in Singapore, of whom 65% have subsidiary manufacturing plants in the region including Malaysia, Indonesia, China, Vietnam and Myanmar. Its primary roles include promoting the interests of its members and the Singapore furniture industry. Many of its initiatives aim to facilitate members' exposure to the world market, develop local talent and encourage entrepreneurship. SFIC also organises the annual Furniture Design Award to spur trend-setting furniture designs from Asia. To ensure the industry’s growth and viability, SFIC continues to forge close partnerships with the government and trade-related agencies to harness technology, knowledge and information for effective strategic planning. About Meeting Planners International Pte Ltd Established in 1987, Meeting Planners is a professional exhibition and conference organiser. It received the Enterprise 50 award for two consecutive years, in 2001 and 2002. To date, it has organised and managed over 200 major national, regional and international events. Meeting Planners, a subsidiary of Pico Far East Ltd, is a strategic partner of World Events Organisation. About International Furniture Fair Singapore Pte Ltd (IFFS Pte Ltd) International Furniture Fair Singapore Pte Ltd (IFFS Pte Ltd) is a subsidiary of SFIC, which owns 60% of IFFS Pte Ltd. Meeting Planners International owns the remaining 40% share of the company. IFFS Pte Ltd’s nature of business is the organising and management of furniture and furniture-related fairs, exhibitions, shows, conferences and other events worldwide. IFFS Pte Ltd organises the annual International Furniture Fair Singapore, which is held in conjunction with the ASEAN Furniture Show. The company has a six-member Board of Directors, comprising the Chairman of the Board, Mr James Koh, who is the current President of the SFIC, Mr Andrew Ng, the current 1st Vice-President of the SFIC, Messrs Jerry Tan and Sim Kah Choon who are Vice-Presidents of the SFIC, Mr James Chia, Chairman of Meeting Planners International Pte Ltd and Ms Sylvia Phua, CEO of Meeting Planners International Pte Ltd. About International Furniture Fair Singapore/ASEAN Furniture Show (IFFS/AFS) The International Furniture Fair Singapore, held in conjunction with the ASEAN Furniture Show (IFFS/AFS), began in 1981 and has since grown to be regarded by industry experts as Asia's most prestigious furniture trade show. IFFS/AFS provides an effective marketing platform for regional companies to venture into global markets. As a testimony to the quality of the show, IFFS/AFS is the first Asian-based international furniture fair to be accepted as a member of the elite Union des Foires Internationales, a Paris-based international authority on trade fairs. In addition, it is the only furniture trade event in Singapore to be awarded the 'Approved International Fair' status by the Singapore Tourism Board. The Singapore Exhibition and Convention Bureau also recognises the fair as a major exhibition event on Singapore's international exhibition calendar. Issued by: Foreword Communications Pte Ltd On behalf of: Singapore Furniture Industries Council For media enquires, please contact: Shannen Fong (Account Director) / Jasmine Sim (Senior Associate) / Rowena Tay (Associate) Foreword Communications Pte Ltd Tel: (+65) 6338-5918 Email: shannen@foreword.com.sg / jasmine@foreword.com.sg / rowena@foreword.com.sg Shermaine Ong, Executive Director, SFIC Quek Chin Tuan, Chief Executive Officer, IFFS Pte Ltd Tel: (+65) 6569-6988 Email: enquiry@iffs.com.sg

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