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Stuart Gentle Publisher at Onrec

Jobstreet gets Recruit in Hong Kong

Online recruitment agency Jobstreet Corporation Bhd has acquired a 20% stake in Hong Kong-based recruiting company, Recruit Group Ltd (RGL), a subsidiary of Recruit Holdings Ltd

Online recruitment agency Jobstreet Corporation Bhd has acquired a 20% stake in Hong Kong-based recruiting company, Recruit Group Ltd (RGL), a subsidiary of Recruit Holdings Ltd.

JobStreet.com chief executive officer Mark Chang said it is committed to providing Recruit the use of its online recruitment technology to enhance Recruitís online business and build a stronger jobsite.

RGL publishes a bi-weekly recruitment advertising magazine in Hong Kong, called Recruit, and it is distributed at about 400 locations.

It also has a website, www.recruitonline.com. The magazine nets a profit of about HK$19.8mil (RM8.8mil) annually and we believe that we can develop a very competitive online jobsite for the Hong Kong market to add value to Recruitís business, Chang said.

He said the acquisition will allow jobseekers in South-East Asia to have access to more jobs in North Asia.

Hong Kong has a vibrant economy, a population of seven million people and is a recognised gateway into China, he added.