TOKYO: The Board of Directors of Japan System Techniques Co., Ltd. (JAST) approved purchase of the stock of AG Net Pte. Ltd. (AG NET) located in Singapore with an investment of 530 million Yen, and make this company a subsidiary.[the_ad id=”31605″]The JAST Group has been active in the ASEAN region, primarily at JAST Techniques in Singapore, JASTEC (Thailand) Co., Ltd. in Thailand and the Virtual Calibre Group in Malaysia. JAST believes this region is a highly attractive market because of the outlook for a continuation of rapid economic expansion and a growing middle class that will create a large consumer market.
AG NET is an independent software organization in Singapore. Leveraging HRM (Human Resources Management) cloud system developed in-house, AG NET has since its establishment in 2006 served over 40,000 users in about 700 organizations, centering on Singapore and the ASEAN region.
As a top-class national solutions vendor in this field, AG NET maintains a strong profit structure. This inclusion of AG NET in the JAST Group will add new HRM products currently not covered in Group’s brand lineup, enabling multi-directional coverage of personnel, vacation requests, expense reimbursement workflows, salary computations, telework support, and employee performance management.
“We believe that adding AG NET to the JAST Group will strengthen our business foundation not only in Singapore but throughout the ASEAN region and lead to business expansion of our subsidiaries throughout the ASEAN region, thereby further enhancing the Group’s growth potential,” a statement issued to JPX noted.