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Wednesday, June 8, 2011

'Huge growth potential for JobStreet' (BT)

Hwang DBS Vickers Research sees a huge growth potential for JobStreet Corp, an online recruitment market, with job advertisement volume still registering double-digit growth rates.

In a note today, the research firm said the full growth potential for online recruitment services was yet to be realised.

"This could be unlocked through the increasing broadband/Internet
penetration in the Asia-Pacific region, migration from print to online advertising given its better value proposition, and growing demand for convenient and efficient services," it said.

Hwang said JobStreet was one of few online job recruitment providers with a stable profit track record and was leading in its operating territories.

"It will be a prime beneficiary of industry consolidation," it added.

The research firm maintained a "buy" call for JobStreet with a target price of RM3.60. - Bernama

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