MoU between JobStreet & Television Eighteen (TV18)

JobStreet.com India, a online recruitment player and provider of recruitment management solutions, today ratified the Memorandum of Understanding it signed with the TV18 Network in May 2006 in the presence of Honíble Datoí Sri Mohd Najib Bin Tun Hj.

Abdul Razak, Deputy Prime Minister of Malaysia. Mark Chang, Founder & CEO, JobStreet Corporation Berhad signed and exchanged the document on the same with Raj Kamath, Director, TV18 Network Ltd.

In his comments, the Honíble Malaysian Deputy Prime Minister said,î I am pleased that the technological prowess of a MSC Malaysian company is recognized in India by a leading media and internet player like TV18 network. I am keen to see more such exchanges and transfer happening between the two countries. JobStreetís success points to the excellent environment we offer in Malaysiaís Multimedia Super Corridor (MSC) for IT companies to thrive and realize their dreams.î

ìIt is a privilege and honor to have the MoU ratified in the presence of the Deputy Prime Minister. It just reiterates the excellent support the Malaysian Government and MDeC provides to IT companies,î said Mark Chang, Founder & CEO, JobStreet Corporation Berhad. He added,îWith the TV18 partnership, JobStreet.com India will be able to reach out to more jobseekers and provide them with increased opportunities for career enhancement.

In his comments, Raj Kamath said,î JobStreet is a great fit for our overall internet strategy and growth and am happy and honored by the presence of the Deputy Prime Minister at this ceremony.î

TV 18 would be taking a 50% stake in JobStreet.com India Pvt. Ltd. in return for US$2 million in initial cash and ongoing media support to the business. With this partnership, TV18, which already has many leading internet properties, enters the e-recruiting market which is growing at a very fast pace in India.

Television Eighteen (TV18) is Indiaís premier general, business and consumer news broadcaster (CNBC-TV18, CNN-IBN, Awaaz, IBN7) and a leading media content provider. Between its four television channel offerings, TV18 reaches to over 70 million adult Indians. TV18 is also Indiaís only television company to have identified and built upon a variety of information and transactional services based on the internet.

JobStreet Group is a MSC-status Malaysian company which operates the JobStreet.com online recruitment websites covering the employment markets in Malaysia, Singapore, India, Philippines and Indonesia. The Group currently services over 20,000 corporates and 3.0 million jobseekers. It is a leading supplier of Applicant Tracking Solutions in the region and the only job portal in the region listed on the Malaysian Stock Exchange, MESDAQ in Malaysia (Ticker JOBS). It is also a TRUSTe certified portal, assuring privacy of the data gathered.