Cirtek to hike production

Jan 12, 2021

Cirtek to hike production

Malaya Business Insight

Cirtek Electronics Corp. will scale-up its production by 20 percent this year resulting to improved revenues.

Cirtek said the expansion of production involves two major tier 1 customers for the full turnkey services of their new products called Quad Flat No Leads Package (QFN).

QFN package type is widely used for high volume products like smart phones, PC and laptops, Wireless communication, and consumer electronics.

These devices are predicted as major factors that will boost the global semiconductor industry growth for 2021.

The second major capacity expansion involves a global semiconductor company, based in California focused on Gallium Nitride (GaN) high power transistors and modules for high-voltage power conversion applications. The product is for intelligent power modules that will increase efficiency and reliability in energy power system, electric chargers for electric vehicles, power adapters and inverters, etc.

The company cited predictions of the World Semiconductor Trade Statistics (WSTS) which said semiconductor sales will accelerate to 8.4 percent growth in 2021, reaching $469 billion in revenue.

“The company is fortunate to be in an industry that is about to experience a revolutionary boom and we are very excited to take part in creating and shaping a new world as we emerge where technology and communications will be a main driving force as evidenced by this pandemic,” said Jorge Aguilar, Cirtek vice chairman.

Aguilar meanwhile said Cirtek unit Cirtek Advanced Technology and Solutions Inc is set to roll out its 5G chipset for mass production

Cirtek Advanced Technologies last year signed a multi-million project with a Texas based company for the manufacture of signal processing units and indoor radio frequency units used for communication services for public safety, government, utilities, and industrial customers.

“Such a solution will allow for the transport of mission critical voice, data, and video reliably, efficiently, and securely. In addition, recently also finalized contract manufacturing services with a New York based company to mass produce radio frequency power modules for high speed data transmission for aerospace applications. These power modules will help provide solutions to challenging problems from deep space to depths of the ocean and serve customers in the defense, space and satellite, security, industrial, and medical industries,” Aguilar said.

  • Jul 19, 2021

    No brainer: Abacus explains the value of TECH warrants

    Published by Bilyonaryo

    Shareholders of Cirtek Holdings Philippines Corp. are probably scratching their heads over the stock’s underwhelming performance in the middle of its P1.4B stock rights offering.

    Shares of TECH closed at P5.21 per share during Friday’s trading, down 25 percent from an intra-day high and below the P5.50 subscription price for the SRO.

    Should shareholders subscribe when they can buy shares for cheaper at market?

    Nicky Franco, the head of research of Abacus Securities, said taking up the TECH rights with its bonus warrants should be a “no brainer.”

    Franco estimated that th...

    Read more
  • Oct 27, 2021

    Jerry Liu gets SEC’s nod to proceed with Cirtek’s preferred share offer

    Published by Bilyonaryo

    The Securities and Exchange Commission (SEC) has approved the plan of Jerry Liu-led Cirtek Holdings Philippines Corp. to raise up to P3.5 billion from the sale of preferred shares.

    Cirtek is selling up to 70 million preferred shares at P50 per share.

    Net proceeds from the offering, amounting to P3.44 billion, will be used to refinance debt, pay down maturing obligations and support capital expenditure requirements.

    The offering will start on November 25 and will run until December 3, in time for the listing of the preferred shares on the Philippine Stock Exchange on Dec...

    Read more
  • Oct 27, 2021

    Cirtek aims to raise ₧3.5B from preferred shares offer

    Published by Business Mirror

    The Securities and Exchange Commission (SEC) has approved Cirtek Holdings Philippines Corp.’s public offering of up to P3.5 billion worth of preferred shares.

    In its en banc meeting, the agency approved the registration statement of Cirtek covering 50 million preferred B-2 Subseries C and D shares at an offer price of P50 per preferred share, with an oversubscription option of up to 20 million preferred shares.

    The preferred shares will be listed and traded on the Main Board of the Philippine Stock Exchange (PSE).

    The Laguna-based manufacturer expects to net P3.44 ...

    Read more