RECRUITMENT and consulting business HRnetGroup announced on Tuesday (Aug 16) that it has registered a new branch in Kaohsiung under its subsidiary RecruitFirst (Taiwan) (RFT), as part of its "strategic initiative to further accelerate the rapid growth of RFT in the flexible staffing space".
Together with RFT's 3 business leaders cum co-owners, HRnetGroup will also commit another S$1 million to fund further expansion in RFT.
When RFT was first incorporated in March 2019, the initial share capital stood at S$700,000 comprising 700,000 ordinary shares contributed by HRnetOne.
The group said that its RFT business was profitable within its first year of operations and achieved a compound annual growth rate of 113 per cent in revenue.
Following the addition of a new branch, HRnetGroup intends to "capitalise on its existing strengths and work with clients in Kaohsiung on their needs for call centre operators, technicians and engineers".
HRnetGroup ended Monday down 0.6 per cent or S$0.005 at S$0.785 on Monday.