FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of June 2004
Commission File Number 000-30678
GLOBAL SOURCES LTD.
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(Translation of Registrant's Name into English)
Canon's Court
22 Victoria Street
Hamilton, HM 12, Bermuda
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(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F ___
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): _________
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Form 6-K if submitted solely to provide an attached annual report to security
holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): _________
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a
Form 6-K if submitted to furnish a report or other document that the registrant
foreign private issuer must furnish and make public under the laws of the
jurisdiction in which the registrant is incorporated, domiciled or legally
organized (the registrant's "home country"), or under the rules of the home
country exchange on which the registrant's securities are traded, as long as the
report or other document is not a press release, is not required to be and has
not been distributed to the registrant's security holders, and, if discussing a
material event, has already been the subject of a Form 6-K submission or other
Commission filing on EDGAR.
Indicate by check mark whether the registrant by furnishing the information
contained in this Form, the registrant is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.
Yes _____ No X
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TABLE OF CONTENTS
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Signatures
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Exhibit 99.1 Press Release dated June 3, 2004
Other Events.
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On June 3, 2004, Global Sources Ltd. issued a press release, a copy of
which is attached as Exhibit 99.1 to this Form 6-K and hereby incorporated by
reference herein.
Financial Statements and Exhibits.
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Exhibit 99.1 Press Release dated June 3, 2004.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
GLOBAL SOURCES LTD.
(Registrant)
By: /s/ Eddie Heng Teng Hua
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Name: Eddie Heng Teng Hua
Title: Director and Chief
Financial Officer
Date: June 7, 2004
Exhibit 99.1
FOR IMMEDIATE RELEASE
Global Sources Investor Contacts:
Kirsten Chapman & Moriah Shilton
Lippert/Heilshorn & Associates, Inc.
Tel: (1 415) 433-3777
Fax: (1 415) 433-5577
e-mail: kirsten@lhai-sf.com
Global Sources Contact in Asia: Global Sources Contact in U.S.:
Camellia So James W.W. Strachan
Tel: (852) 2555-5023 Tel: (1 602) 978-7504
Fax: (852) 2518-8764 Fax: (1 602) 978-7512
e-mail: cso@globalsources.com e-mail: strachan@globalsources.com
Global Sources Details Trade Show Growth Strategy
China Sourcing Fairs Will Now Serve
China's Two Primary Export Hubs
HONG KONG, June 3, 2004 - On May 31, Global Sources Ltd. (Nasdaq NM: GSOL)
announced that it signed an agreement to expand its China Sourcing Fairs to Hong
Kong. Beginning in 2006 Global Sources will host these shows at the
AsiaWorld-Expo. Supplementing the current shows in Shanghai, which serve the
Yangtze River Delta economic region, these new shows will serve the Pearl River
Delta region adjacent to Hong Kong. Combined, these two regions account for over
60 percent of China's total foreign trade.
The following summarizes recent developments and future plans for Global
Sources' China Sourcing Fairs:
o October 2003: Launched the first China Sourcing Fair in Shanghai. The
Electronics & Components trade show featured nearly 600 booths and more
than 15,000 buyers from 106 countries. Global Sources generated over $1.3
million in revenue from this single event.
o April 2004: Held three China Sourcing Fairs in Shanghai: Electronics &
Components, Gifts & Home Products and DIY & Home Improvement. Together
these shows attracted more than 38,000 buyers from 137 countries. Over
17,500 buyers attended the Electronics & Components show, a 16 percent
increase over the October 2003 show, while over 20,000 buyers attended the
Gifts & Home Products and DIY & Home Improvement shows. The current
capacity of 2,300 booths for the three shows was sold out and revenue
totaled $5.7 million.
o October 2004: The fall versions of the Fairs are scheduled in Shanghai:
Electronics & Components (October 11-13) and Gifts & Home Products and DIY
& Home Improvement (October 25-27). Based on the suc-
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cess of the spring events, manufacturers have sold more than 90 percent of
the 2,300 booths that are available. Management anticipates similar revenue
to what was achieved in April.
o 2005: Three China Sourcing Fairs are scheduled for April and another three
are scheduled for October, all in Shanghai. These shows will continue to
build the company's presence in its three primary industry sectors.
o 2006: April and October China Sourcing Fairs will be launched in Hong Kong
to complement the continuing Shanghai shows. Management anticipates that
the Hong Kong China Sourcing Fairs will have capacity for more than 15,000
booths annually, and accordingly, the potential for greater attendance and
revenue than the Shanghai Fairs.
o Ongoing: Global Sources will continue to evaluate launching additional
trade shows in other locations and in other industry segments.
Merle A. Hinrichs, Global Sources chairman and chief executive officer said:
"Over the next three years, we plan to invest approximately $50 million in our
Hong Kong Fairs to meet the demand for premium booth space from local, Greater
China and international exporters. This geographic expansion of our China
Sourcing Fairs is another big step in our strategy to enable suppliers to
surround their customers and prospects and reach them with messages in print,
online and face to face, at trade shows."
Hinrichs continued: "In addition to building our trade show business, our growth
strategies include increasing the size of our sales organization, adding new
customers, and cross-selling our products and services. We expect these actions
will contribute to revenue growth, which we believe will be approximately 19
percent in 2004."
About Global Sources
Global Sources is a leading business-to-business (B2B) media company that
facilitates global trade, with a particular focus on the China market, by
providing information to international buyers and integrated marketing services
to suppliers.
We deliver content to our communities through our leading network of nine
vertical marketplaces and 13 geographic portals, and through magazines, CD-ROMs
and private catalogs, as well as China Sourcing Fairs and technical events. Our
flagship marketplace, Global Sources Online (www.globalsources.com), hosts more
marketing and sourcing activity than any other global merchandise trade
marketplace.
We serve a growing, independently certified community of more than 409,000
active buyers in over 230 countries and territories. These buyers generate more
than 3.9 million inquiries annually for over 130,000 suppliers through Global
Sources Online alone. We offer extensive creative services and export
consultation through 150 client service officers in Greater China and other
leading supply markets, and through our 700 sales representatives who make
approximately 40,000 supplier visits monthly. In mainland China, we have 22
years on-the-ground presence, supported by over 1,000 team members in 44
locations throughout the country.
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Global Sources' solutions are based on 33 years as a trade magazine publisher
serving the global trade community, 13 years as a trade management software
developer, 12 years as manager of trade shows in Asia, and eight years as an
online marketplace operator.
This news release contains forward-looking statements within the meaning of
Section 27-A of the Securities Act of 1933, as amended and Section 21-E of the
Securities Exchange Act of 1934, as amended. The Company's actual results could
differ materially from those set forth in the forward-looking statements as a
result of the risks associated with the Company's business, changes in general
economic conditions, and changes in the assumptions used in making such
forward-looking statements.
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