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JobStreet expects to be profitable soon

Online recruitment firm JobStreet.com Pte Ltd expects to be in the black by year end, said the company's CEO Mark Chang.

SINGAPORE--Online recruitment firm JobStreet.com Pte Ltd expects to be in the black by year end, said the company's CEO Mark Chang.

He was speaking to reporters at a media conference this morning announcing the close of JobStreet's second round of funding, which took in investments of S$3.6 million from Sumitomo Corp, Walden International and Intelligent Capital.

Established in 1995 in Malaysia, JobStreet currently has operations in Malaysia, Singapore, India and the Philippines.

It is also setting its sights on North Asian markets such as Hong Kong, China and Japan, Chang revealed. China, he said, would be the first stop because of its sheer size--not to mention, large workforce.

He declined to disclose a specific time frame for the expansion due to the uncertain regional economy, but noted that the company's Malaysian and the Philippine operations are currently profitable. Singapore and India expected to follow suit by year end, he added.

When asked if JobStreet would develop a Chinese Web site for the China market, Chang said the company plans to remain focused on the English-speaking job seekers looking for cross border employment--particularly for the middle management in the IT, engineering and sciences industries.

It customers include Siemens, Agilent Technologies, AMD, Nokia and SingTel in Singapore; Dell and Intel in Malaysia; and Citibank and Wipro in India.

The company said it earned S$3 million last year, but Chang declined to disclose the company's revenue projections for this year.