HRnetGroup forms new unit, trims stakes in two subsidiaries

SGX Filings

Aug 12

HRnetGroup Limited said on Aug, 12 2026 that it has incorporated a wholly owned Malaysian subsidiary, HRnet Assets Sdn Bhd, with a registered share capital of RM1.00.

The recruitment services provider also divested 20.00% stakes in two subsidiaries to their respective co-owners. Its interest in PeopleSearch (Shanghai) Limited fell to 65.25% from 85.25%, while its holding in RecruitFirst Inc (RFKR) dropped to 80.00% from 100.00%. The transactions generated total cash proceeds of 0.25 million Singapore dollars and are not expected to have a material impact on the group’s current-year financial results.

Following the sale, RFKR becomes an associate of Aviel, classifying it as an interested person under Singapore Exchange rules. Other than this, the disposals are not deemed interested person transactions, and no directors or controlling shareholders have any additional interests in the deals.

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