JobStreet Corporation Berhad (Main Board: "JOBST") posted its quarterly results for the final quarter of 2008 with revenue and net profit attributable to shareholders declining 3.9% and 74.6% respectively. The significant decline in net profit was primarily attributed to a provision for impairment loss on investments of RM 5.4 million.

The decrease in revenue for the quarter was mainly resulting from lower sales from JobStreet SELECT (search & selection services) and JobStreet RESOURCE (contract staffing) by 53.8% and 16.2%, respectively. In addition, lower distribution income from the Group's investment in quoted unit trusts also contributed to the decrease in revenue. The Group's core products of JobStreet ESSENTIAL (job posting) and JobStreet IMPACT (career website management service) performed relatively well and registered growth in sales by 1.8% and 65.8% respectively during the quarter.

The global recession has affected investor sentiment worldwide and caused valuations on many stock exchanges to fall. In this respect, as discussed above, the Group booked a provision of RM5.4 million for impairment of its investments in quoted securities which significantly impacted the profitability for the quarter.

On a year to date basis, the Group managed to finish the year with a 13.6% improvement to its bottom line, as the Group's core business operations in its principal markets in Malaysia, Singapore and Philippines continued to grow in 2008.

A quarter-on-quarter followed by a year-on-year comparison:

	Q4 2008 RM'000	Q4 2007 RM'000	% Increase / (Decrease)
Revenue	22,234	23,149	(3.9)
Profit before taxation	3,001	7,607	(60.5)
Profit after taxation and minority interests	1,703	6,709	(74.6)

	Year Ended
	31.12.2008 RM'000	31.12.2007 RM'000
Revenue	102,331	83,079	23.2
Profit before taxation	39,324	33,663	16.8
Profit after taxation and minority interests	32,824	28,886	13.6

Mark Chang, CEO of JobStreet Corporation Berhad says: "In view of the current market situation, we want to be prudent in recognizing some impairment on our quoted investments." He added: "Many companies have started to cut down on their recruitment activities in response to the recession and our challenge will be to come up with innovative and effective recruitment solutions that best meet their needs during this difficult time."

About JobStreet
JobStreet operates the JobStreet.com (www.jobstreet.com) online recruitment websites presently covering the employment markets in Malaysia, Singapore, Philippines, Indonesia, India, Bangladesh, Japan and Thailand. The Group currently services over 50,000 corporate customers and over 6 million jobseekers. JobStreet is listed on Main Board of Bursa Malaysia Securities (JOBST).