The Malaysia International Trade & Exhibition Centre (MITEC) has signed a five-year MOU with UBM Malaysia to secure four events by the agency between 2019 and 2023, as well as a biennial event from 2019 to 2028.
The partnership is expected to lead to 261.20 million ringgit ($63.07 million) in economic impact; the agency, however, declined to name the events.
M. Gandhi, group managing director (Asean business) and senior vice president of UBM Asia, disclosed that the agency had leased a total of 90,000 sqm of exhibition space in 2018 alone. The Malaysian International Furniture Fair 2018 led by UBM Malaysia was held at MITEC earlier in March. The venue, which was just launched in August last year, has hosted 90 events and recorded a foot traffic of 352,148 visitors. The centre also claimed a 110% increase in booth stands size since its launch.
"There are important considerations for show organisers when selecting a venue, and one of the key criteria for shows to expand is to have ample exhibition space in a client-focused venue. This is where MITEC comes in strong, as demostrated during MIFF 2018," said Gandhi. MITEC had earlier forged another partnership with UBM for the Kind Malaysia 2018 event and expo next October aimed at fostering CSR initiatives in the corporate sector.