Seek lifts stake in Malaysian business

Online jobs agency Seek Ltd has increased its presence in Asia after paying $23.5 million to more than double its stake in a Malaysia-based jobs website.

Seek lifted its holding of JobStreet Corporation Berhad to 21.3 per cent, from 10.1 per cent, at a cost of 70.9 million Malaysian dollars or $RM2 per share, the company said in a statement on Wednesday.

Seek joint chief executive Andrew Bassat said JobStreet had delivered strong results.