Cirtek sees 20% growth from new major contracts

Jan 12, 2021

Cirtek sees 20% growth from new major contracts

Manila Bulletin

by James A. Loyola

Cirtek Electronics Corporation reported that its revenues will get a 20 percent boost this year as it ramps up production for two major tier 1 customers for the full turnkey services of their new products.

“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 Cirtek Vice Chairman Jorge Aguilar.

In a disclosure to the Philippine Stock Exchange, Cirtek said it is scaling-up the production of Quad Flat No Leads Package (QFN) which 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 firm said.

Cirtek said its second major capacity expansion involves a global semiconductor company, based in California USA 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.

Meanwhile, the firm said subsidiary Cirtek Advanced Technology and Solutions is excited to roll out its 5G chipset for mass production.

In the middle of 2020, Cirtek Advanced Technologies and Solutions Inc. finalized a multi-million project with a Texas based company for the manufacture of Signal Processing Units and Indoor Radio Frequency Units.

These will be part of the system infrastructure that will be used for communication services for public safety, government, utilities, and industrial customers.

In addition, it also finalized recently a contract for 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.

Another unit, Quintel USA, Inc., is projected to release a new line of C-Band antenna family early this year following a successful auction in 2020 when US Federal Communications Commission (FCC) released its latest 5G spectrum for sale.

  • Aug 18, 2020

    Financial Adviser: 5 Best Performing Stocks with Year-to-Date Gains of Up to 52.3% and How to Profit from Them

    Financial Adviser: 5 Best Performing Stocks with Year-to-Date Gains of Up to 52.3% and How to Profit from Them

    There are a few selected stocks that have managed to outperform the PSE Index.

    Read more
  • Dec 03, 2021

    Cirtek to raise P2.5B

    Published by Malaya

    Cirtek Holdings Philippines Corp. expects to raise P2.5 billion from its ongoing preferred share sale.

    It was earlier looking at a P3.5 billion fund raising.

    The company said it is now selling 50 million of its preferred shares at an offer price of P50 apiece from an earlier 70 million, divided into an initial 30 million and another 20 million covering the oversubscription option.

    The preferred shares that will have a series of TCB2C for the Preferred Class B-2 Subseries C and CB2D for the Preferred Class B-2 Subseries D will have a dividend rate of 6.5864 percent for TCB2C...

    Read more
  • Dec 03, 2021

    Cirtek wrapping up P2.5-B perpetual preferred shares offer

    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 more