In line with its strategy for expansion into new markets in the region, JobStreet Corporation Berhad ("JobStreet.com") has invested HK$ 15 million (RM 6.7m) to take a 20% stake in Recruit Group Limited ("RGL"), a subsidiary of Recruit Holdings Ltd. ("RHL"), which is listed on the GEM market of Hong Kong.

The primary business of RGL is the publication of a leading recruitment advertising magazine in Hong Kong called Recruit. Recruit is published twice a week and is distributed at approximately 400 locations throughout Hong Kong. Recruit also has an on-line jobsite at www.recruitonline.com.

"Recruit has been the leader in recruitment advertising in the Hong Kong market for 15 years. The strength of their brand and customer relationships is very complementary with JobStreet.com’s strengths in technology leadership and online innovation," said JobStreet.com’s CEO Mark Chang.

"JobStreet.com is committed to providing Recruit use of our award-winning on-line recruitment technology in order to enhance their on-line business and build a stronger jobsite to complement their current off-line magazine. The off-line Recruit business had profits of approximately HK$ 19.8m (RM 8.8m) and we believe that we can work together to develop a very competitive on-line jobsite for the Hong Kong market to add value to their current business."

Mark adds: "Regional expansion is not an easy task but we are committed to rolling out the JobStreet.com services into new markets in a prudent manner when the opportunity presents itself. The Hong Kong market has a vibrant economy, a population of approximately 7.0 million people and is a recognized gateway into China. With this relationship, it allows our jobseekers in Southeast Asia to have access to more jobs in North Asia. We look forward to working with Recruit."

About JobStreet Corporation Berhad
JobStreet Corporation Berhad (JobStreet.com) is a public-listed company on the MESDAQ market in Malaysia. Since 1995, JobStreet.com has grown to become one of the leading Internet recruitment websites (www.jobstreet.com) in the Asia-Pacific, revolutionizing the way recruitment is done today. JobStreet.com offers a comprehensive suite of interactive recruitment services which allow its customers to recruit quickly and effectively from the largest pool of talent in the region. JobStreet.com currently operates in Malaysia, Singapore, India, the Philippines, Bangladesh and Indonesia. JobStreet.com services over 40,000 corporate customers and over 4.0 million jobseekers.

About Recruit Holdings Limited
Recruit Holdings Limited ("RHL") is a company listed on the GEM market of the Hong Kong Stock Exchange and primarily involved in investment holding and provision of corporate management services. Recruit Group Limited ("RGL"), a major subsidiary of RHL, has been publishing Recruit Magazine in Hong Kong for 15 years and is one of the leading recruitment advertising providers in the market. RGL also operates a recruitment website, www.recruitonline.com to broaden the coverage of its advertising business.