Press Releases

JobStreet.com enters Japan market
KUALA LUMPUR, 18 July 2007

KUALA LUMPUR, 18 July 2007 - JobStreet Corporation Berhad and Asian Commission Corporation today signed a joint venture agreement in Tokyo, Japan. The joint venture, which enables JobStreet.com to enter Japan, will provide opportunities for skilled professionals from South and South-East Asia in the Japanese market.

The agreement was signed by Mark Chang, Founder and CEO of JobStreet Corporation Berhad and Higake Yusuke, Managing Director of Asian Commission Corporation. Present at the signing ceremony was Chief Minister of Penang, Tan Sri Dr Koh Tsu Koon.

On incorporation of the joint venture, JobStreet Corporation will subscribe to 60 per cent of the equity in the venture, while Asian Commission Corporation will hold the remaining 40 per cent stake.

Chang said setting up this company could serve to ease the labor shortage for many Japanese companies. In recent years, Japan was beginning to experience a labor crunch due to its declining working-age population. Currently, Japan is encouraging its seniors to work longer; looking to integrate more women into the labor force and easing restrictions on foreign workers.

Chang added: “With our successful operations in Malaysia, Singapore, the Philippines, Indonesia, India and Bangladesh, JobStreet will be able to source and recruit many suitable talents to help meet the needs of Japanese companies.”

JobStreet.com, listed on Bursa Malaysia (“JOBS”), is the leading on-line job site in South-East Asia with over four million jobseekers in its database and servicing over 50,000 corporations in the region.