Cirtek targets 20% increase in production of electronic parts

Jan 12, 2021

Cirtek targets 20% increase in production of electronic parts

Business World

CIRTEK ELECTRONICS Corp. plans to increase local production by 20% as it partners with major customers to provide parts for consumer electronics and electric charger products.

In a statement on Monday, Cirtek said that it will be providing services to develop a semiconductor package widely used for smart phones, personal computers, laptops, wireless communications, and other consumer electronics.

“These devices are predicted as major factors that will boost the global semiconductor industry growth for 2021,” Cirtek said.

The firm will also be working with an American company on high power transistors that will “increase efficiency and reliability” of energy power systems and chargers for electric vehicles, power adapters, and inverters.

Cirtek plans to scale up its production starting in the first quarter of 2021.

Electronics exports industry group Semiconductor and Electronics Industries in the Philippines, Inc. (SEIPI) in November announced that it revised its 2020 projection to a five percent decline, from the earlier forecast of 15% decline after industrial, consumer, mobility, and medical electronics demand increased.

The industry group expects 7% growth for 2021.

Shares in Cirtek jumped 11.8% or 87 centavos to P8.24 each on Monday. — Jenina P. Ibañez

  • Dec 02, 2021

    SEC allows Cirtek to sell ₧2.5B in preferred shares

    Published by Business Mirror

    Laguna-based Cirtek Holdings Philippines Corp. on Thursday said it secured the green light of the Securities and Exchange Commission for its primary offering of up to 50 million in perpetual preferred shares.

    The company is selling its preferred shares to be classified as class B-2 subseries C or D shares at P50 apiece. Cirtek expects to raise some P2.5 billion from the offering.

    The public offer period will run until December 3 and will be listed on the Philippine Stock Exchange on December 14.

    Cirtek has been allowed to offer up to 70 million shares, or proceeds ...

    Read more
  • Jul 14, 2021

    Cirtek US unit extends supply deal with telcos

    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...

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  • Dec 02, 2021

    Cirtek undertakes P2.5 B preferred share offering

    Published by Manila Bulletin

    Cirtek Holdings Philippines Corporation (TECH) has set the size of its ongoing public offering of its preferred shares to a maximum of P2.5 billion.

    The firm said in a disclosure to the Philippine Stock Exchange that it has started the primary offering of up to 50 million cumulative, non-participating, non-voting, non-convertible perpetual and redeemable peso-denominated Preferred Class B-2 Shares at an offer price of P50.00 per share.

    The final offer structure consists of P1.5 billion in aggregate issue value, consisting of up to 30 million Preferred Class B-2 Sha...

    Read more