SOURCE: Philippine PI

Philippine PI

September 13, 2011 13:28 ET

UPDATE: Philippines Detectives Report Growth, Despite Economy

JACKSONVILLE, FL--(Marketwire - Sep 13, 2011) - Philippine PI™, a professional private investigation firm specializing in background checks and detective services in the Philippines and Southeast Asia, reported today 9% revenue growth for the second quarter of 2011. The company is moving forward with plans to expand into the Malaysia and Singapore private investigation markets. Despite the global recession, Philippines detectives in Manila and Cebu have seen a steady flow of demand due to high fraud risk in the country. While demand for pre-employment screening has decreased, the Company reports a steady growth in corporate due diligence, background checks and surveillance services, which are often needed for infidelity concerns or online relationships.

Hiring qualified professional investigators with prior experience in federal law enforcement or military has helped increase the Company's market share. In the Philippines, most investigators are former NBI (National Bureau of Investigation) or AFP (Armed Forces of the Philippines) agents who have the training and professional associations needed to facilitate case results.

The recession and economic problems in Asia and elsewhere have created a difficult growth environment for private investigators around the world. Client referrals and returning clients are important growth factors for the firm. Philippine PI is currently hiring investigators in the Philippines. Expansion into the Malaysia market will take place in 2012, with investigators based in Kuala Lumpur as early as January, and a Singapore-based team will be added by July 2012.

A diverse portfolio of investigation and verification services has enabled the Company to weather the economic turmoil, and management is forecasting a 10 to 12% annual growth rate for 2011. "Using only highly trained Philippines investigators continues to promote satisfied clients in the U.K., U.S., Australia and Canada, which in turn generates more business from client referrals," said William J. Carter, Vice President of Private Investigations. "Our goal is to establish the same business model in Malaysia, where there is a shortage of qualified investigators and professional services."

Philippine PI™ began operations in 2007 and maintains a dedicated investigation team on the ground in the Philippines. The firm is verified by McAfee, Truste and U.S. Better Business Bureau.

About Philippine PI™

Philippine PI, LLC is a recognized leader in private investigation services in the Philippines and Southeast Asia. The U.S.-managed company offers discreet investigations, corporate due diligence, background checks, surveillance, criminal cases, missing person searches and fraud screening. Philippine PI is a subsidiary of Wymoo® International, an international investigations firm.