Business World
A SUBSIDIARY of electronics manufacturer Cirtek Holdings Philippines Corp. (Cirtek) has entered into a multi-million project with a Silicon Valley-based technology company to produce chipsets for fiber optic networks.
In a statement Wednesday, Cirtek said its microwave and millimeter wave manufacturing arm, Cirtek Advanced Technologies and Solutions, Inc. (CATSI), has been tapped to manufacture chipsets that would support fifth generation (5G) networks.
The company will start production as early as the fourth quarter, Cirtek Executive Vice-President and Chief Financial Officer Brian Gregory Liu said. “CATSI is capitalizing its decades of history and experience in specialized Microwave Integrated Circuit assembly and test know-how capabilities…,” he was quoted in the statement as saying.
Cirtek also said its United States-based subsidiary Quintel USA, Inc. is preparing to deploy new antennas to be used for 5G mobile networks.
Quintel received approval to use a frequency band that was previously reserved for use by the US navy, aircraft and satellite applications. The band may now be used commercially to deploy 5G mobile networks without the need for new licenses.
“Quintel is very excited to participate in the nationwide swap out of existing antennas… This comes at an opportune time when the pandemic has forced millions of companies and employees to work from home…,” Cirtek Vice-Chairman and President Jorge Aguilar said in the statement. “Our new antennas are designed to open up 150 MHz (megahertz) of new information highway spectrum to US networks.”
In a separate disclosure to the stock exchange, Cirtek said its board of directors had approved a plan to raise its authorized capital stock by P880 million to P1.74 billion in preparation for future capital raising activities.
The company will increase its authorized common stock to P1.2 billion with 1.2 billion common shares, from P520 million with 520 million common shares, priced at P1 each.
Its authorized preferred B stock will also be increased to P470 million with 470 preferred B shares, from P270 million with 270 million preferred B shares, priced at P1 each.
Shares in Cirtek at the stock exchange shed 71 centavos or 8.48% to close at P7.66 each on Wednesday. — Denise A. Valdez
Jul 14, 2021
Published By Revin Mikhael D. Ochave Business World
A UNIT of technology company Cirtek Holdings Philippines Corp. has extended a master supply agreement with two telecommunication companies in North America.
Cirtek said in a regulatory filing on Monday that the agreement between its telecom base station antenna unit Quintel USA, Inc. and two unnamed carriers provides for a business extension of another five years.
“This comes at a time following a series of new product introductions released by Quintel when fifth generation (5G) is at an inflection point,” Cirtek said.
“Quintel’s 5G products ...
Read moreJan 13, 2021
CIRTEK Holdings Philippines Corp. has been given a PRS A mark by local debt monitor Philippine Rating Services Corp
Read moreOct 27, 2021
Published by Manila Standard
The Securities and Exchange Commission said Wednesday it approved the P3.5-billion preferred shares offering of semiconductor manufacturer Cirtek Holdings Philippines Corp. Cirtek was allowed to register and offer up to 50 million preferred shares at a price of P50 apiece, with an oversubscription option for another 20 million preferred shares. The company has yet to set the dividend rate for the preferred shares. The preferred shares will be listed and traded on the main board of the Philippine Stock Exchange. Cirtek will use the net proceeds from the offering wil...
Read more