Cirtek’s subsidiary bags contract with US wireless carrier

Sep 16, 2020

Cirtek’s subsidiary bags contract with US wireless carrier

manilastandard.net

by Jenniffer B. Austria

Cirtek Holdings Philippines Inc. said US-based subsidiary Quintel bagged a telecommunications contract with one of the top five wireless carriers in North America.

Cirtek said in disclosure to the stock exchange Wednesday Quintel signed a master purchase agreement with a telecommunications operator that is scheduled to launch full commercial services on fresh spectrum for 5G services.

It did not provide the expected sales from the new contract, but said it would be positive for 2020 performance. The US telco operator is projecting annual spend of close to $1 billion this year, up by 27 percent from its capital expenditures in 2019.

Cirtek said the US wireless carriers were projected to increase spending by 11 percent to $35 billion in 2021.

Cirtek said that as part of providing pioneering and constantly evolving innovative antenna solutions to the market, Quintel would launch a new platform of small cell antenna products to complement its growing multi-port base station antenna portfolio.

The new product is designed to next generation network which is to be built around existing frequencies and overlaying newly-assigned 5G spectrum under a compact, feature-rich form factor with 4G and 3G backwards compatibility.

“Quintel is pleased to take part in building and transforming the information technology and connectivity revolution ahead as networks transition to 5G,” Cirtek said.

The company’s flagship 14-Port Small Cell Canister solution is specifically optimized for exploiting radios with 4T4R configurations at low-band frequencies to maximize radio channel spectral capacity in dispersive radio channels.

Quintel president Michael Liu said the 14-Port Canister covers all low-band spectrum and mid-band spectrum in North America.

  • Dec 03, 2021

    Cirtek secures permit to sell

    Published by The Manila Times

    LISTED Cirtek Holdings Philippines Corp. on Thursday said it received its permit to sell and order of registration of securities from the Securities and Exchange Commission for its preferred shares offering.

    In a disclosure to the exchange, the company said it is set to offer up to 50 million cumulative, non-participating, non-voting, non-convertible perpetual and redeemable peso-denominated Preferred Class B-2 Shares with a par value of P1 each priced at P50 apiece.

    The shares will be issued as Preferred Class B-2 Subseries C or D Shares.

    Cirtek expects to raise ...

    Read more
  • 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
  • Jan 12, 2021

    Cirtek sees 20% growth from new major contracts

    Cirtek sees 20% growth from new major contracts

    Cirtek Electronics Corporation reported that its revenues will get a 20 percent boost this year as it ramps up production

    Read more