Manila Bulletin by James A. Loyola
Philippine Rating Services Corporation (PhilRatings) has maintained its “A” rating for Cirtek Holdings Philippines Corporation.
In a statement, the ratings firm said it has assigned Cirtek an Issuer Credit Rating of PRS A (corp.), with a Stable Outlook.
A company rated PRS A (corp.)has an above average capacity to meet its financial commitments relative to that of other Philippine corporates.
The company, however, is somewhat more susceptible to adverse changes in circumstances and economic conditions than higher-rated corporates.
On the other hand, a Stable Outlook means the rating is likely to be maintained or to remain unchanged in the next twelve months.
PhilRatings said the rating and outlook were assigned to Cirtek given the firm’s manageable liquidity and capitalization levels and the Cirtek Group’s established track record in the industry, supported by a strong and experienced management team that has navigated the Group through economic cycles, crises, and industry challenges.
It also too into consideration Cirtek’s strong customer base of well-established and global companies, diversified in terms of region and industries.
PhilRatings also cited Cirtek’s improved profit margins despite lower revenues, attributable to the company’s cost management efforts; and the highly competitive and cyclical industry that is susceptible to adverse changes in various economies and characterized by the presence of larger international players.
Cirtek is a fully integrated global technology company focused on wireless communication. It is an independent, complete solutions provider for subcontract manufacturing of semiconductor devices and
provides a broad range of assembly and testing services for various product applications and industries. It is primarily engaged into the design, development and delivery of the wireless industry’s antenna solutions; the manufacture of valued-added, highly integrated technology products; and the manufacture and sales of semiconductor packages as an independent subcontractor for outsourced semiconductor assembly, test and packaging services.
Jul 14, 2021
Published By VG CABUAG BusinessMirror
Quintel USA Inc., a unit of Laguna-based Cirtek Holdings Philippines Corp., on Monday said it has extended its master supply agreement with two major leading carriers in North America.
The extension of the agreement allows Quintel another 5 years of secured business with these two telcos, the firm said.
“Quintel is poised to grow its business in the near to medium term as evidenced by the relevance of its pioneering products that has been well received by our customers. Our products allow carriers to stay ahead of their game and maximize 5G services in the...
Read moreDec 03, 2021
Published by Inquirer.net
Electronics manufacturer Cirtek Holdings Philippines Corp. is set to conclude today, Dec. 3, the public offering of as much as P2.5 billion worth of perpetual preferred shares, proceeds from which will be used to refinance debt and fund the expansion of key subsidiaries.
Cirtek’s preferred shares have two series: one with a synthetic maturity of three years carrying an interest rate of 6.5864 percent per annum, and another with a synthetic maturity of five years carrying an interest rate of 7.7506 percent per annum.
Higher divident rate The synthetic maturity means th...
Read moreMar 11, 2022
Published by Malaya
Cirtek Holdings Philippines Corp.’s subsidiaries Cirtek Electronics Corp. (CEC) and Cirtek Advanced Technology Solutions Inc. (CATSI), have recently passed their ISO 14000 audits with zero non-conformance.
The certification provides assurance a company effectively established and maintains adequate environmental standards as well as management systems.
Organizations holding an ISO 140001 certificate adhere to the international environmental laws and regulations, run their operations with the aim of preventing pollution, and continuously strive to improve its environmenta...
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