Credit Suisse joins others in scrapping events

Hong Kong

CREDIT Suisse Group AG scrapped its annual Asia investment conference planned for next month, adding to a string of cancellations or delays for similar events in Hong Kong and China as the spread of the deadly coronavirus shows no sign of abating.

The Zurich-based private bank, which planned to hold the conference on March 25-27 at Hong Kong's Conrad Hotel, informed investors on Tuesday it is cancelling the event.

"In view of the continued health and safety risks caused by the coronavirus, we have taken the decision to cancel this year's Asian Investment Conference," a spokeswoman said in an email.

The decision marks the biggest cancellation in Hong Kong's financial industry after the outbreak of the virus. The city reported its first confirmed death on Tuesday from the virus, the second fatality outside mainland China, where the number of cases has topped 24,000. Neighbouring Macau, the world's biggest gambling hub, has asked its casinos to shut down for half a month.

Separately, the annual Fund Managers', Asian Bankers' and Brokers' Awards set for later this month has been postponed to March, said Sean Alexander, a representative for the organiser. The decision came after some attendees chose to remain overseas with Hong Kong schools remaining shut until March 3.

Meanwhile, several other conferences slated to happen in China and Hong Kong in February and March have been either postponed or cancelled due to the coronavirus outbreak.

The two-day AVCJ China Forum, which hosts more than 430 fund managers and was scheduled in Beijing for mid-March, has been postponed until September, according to a Hong Kong-based spokeswoman. Fitch Ratings' Credit Outlook 2020 Conference in Hong Kong, planned for Feb 11, was scrapped. The credit ratings company will host live webinars instead, it said in an email to potential attendees.

The virus also prompted trade journal HFM to postpone a planned conference for hedge fund chief operating officers in Macau, according to another email sent to potential attendees. The HFM Asia Operational Leaders' Summit 2020 was to take place on Feb 19 and Feb 20 and will be rescheduled to later this year. BLOOMBERG