GMA News Online
By TED CORDERO, GMA News
Cirtek Holdings Philippines Corp. has been assigned an above average capability to fulfill financial obligations by a local debt watcher.
In a disclosure to the Philippine Stock Exchange on Tuesday, Cirtek said the Philippine Rating Services Corp. (PhilRatings) gave the listed electronic manufacturer a “PRS A (corp.)” credit rating in relation to its three-year shelf registration for commercial papers (CPs) of up to P2 billion.
Based on PhilRating’s credit rating system, 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, according to PhilRatings.
The debt watcher also gave Cirtek a stable outlook as “an indication as to the possible direction of any rating change within a one-year period and serves as a further refinement to the assigned credit rating for the guidance of investors, regulators, and the general public.
A stable outlook is defined as “the rating is likely to be maintained or to remain unchanged in the next twelve months.”
Cirtek is a fully integrated global technology company focused on wireless communication.
It is primarily engaged into the following related businesses:
the design, development and delivery of the wireless industry’s antenna solutions the manufacture of valued-added, highly integrated technology products the manufacture and sales of semiconductor packages as an independent subcontractor for outsourced semiconductor assembly, test and packaging services
For the first nine months of 2020, consolidated revenues fell by 14.4% year-on-year to $59.5 million.
Net income registered a decrease of 1.7% year-on-year to $3.6 million. -MDM, GMA News
Jul 09, 2021
Cirtek Holdings Philippines Corp. (Cirtek) has entered into a multi-million projectRead more
Jul 05, 2021
CIRTEK Holdings Philippines Corp. received the approval of The Philippine Stock Exchange, Inc. (PSE) for its stock rights offering with bonus detachable warrants.
The company said in regulatory filing on Wednesday that shareholders eligible to participate in the stock rights offering should pass the requisite documents and participate during the offer period scheduled on July 12 to July 22.
Listing for both the rights shares and the bonus detachable warrants are tentatively scheduled for Aug. 16, while the ex-rights date and record date will be on July 2 and July 7, respectively...Read more
Jul 14, 2021
Published By Malaya Business Insight
Cirtek Holdings Philippines Corp.’s telecom base antenna unit Quintel USA Inc. has secured five more years of contract to supply antennas to two leading carriers in North America.
Cirtek said this is following a series of new product introductions released by Quintel when 5G is at an inflection point.
“Quintel’s 5G products are precisely designed with the customer’s network architecture in mind allowing synergies in terms of backwards compatibility to existing infrastructure while providing 5G capability at a fraction of the cost against competitor products...Read more