Manila Bulletin by James A. Loyola
Philippine Rating Services Corporation (PhilRatings) has maintained its “A” rating for Cirtek Holdings Philippines Corporation.
In a statement, the ratings firm said it has assigned Cirtek an Issuer Credit Rating of PRS A (corp.), with a Stable Outlook.
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.
On the other hand, a Stable Outlook means the rating is likely to be maintained or to remain unchanged in the next twelve months.
PhilRatings said the rating and outlook were assigned to Cirtek given the firm’s manageable liquidity and capitalization levels and the Cirtek Group’s established track record in the industry, supported by a strong and experienced management team that has navigated the Group through economic cycles, crises, and industry challenges.
It also too into consideration Cirtek’s strong customer base of well-established and global companies, diversified in terms of region and industries.
PhilRatings also cited Cirtek’s improved profit margins despite lower revenues, attributable to the company’s cost management efforts; and the highly competitive and cyclical industry that is susceptible to adverse changes in various economies and characterized by the presence of larger international players.
Cirtek is a fully integrated global technology company focused on wireless communication. It is an independent, complete solutions provider for subcontract manufacturing of semiconductor devices and
provides a broad range of assembly and testing services for various product applications and industries. It is primarily engaged into the design, development and delivery of the wireless industry’s antenna solutions; the manufacture of valued-added, highly integrated technology products; and the manufacture and sales of semiconductor packages as an independent subcontractor for outsourced semiconductor assembly, test and packaging services.
Jul 14, 2021
Published By Maria Romero Daily Tribune
Quintel USA Inc., the United States-based unit of Philippine Stock Exchange-listed firm Cirtek Holdings Philippines Corp., has extended a master supply agreement with two telecommunication companies in North America.
In a disclosure, Cirtek said the agreement between Quintel USA 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.
It added, “Quintel’s 5G products are pre...
Read moreJul 02, 2021
By Jenniffer B. Austria Manila Standard
Cirtek Holdings Philippines Corp. obtained the approval of Philippine Stock Exchange Inc. on its planned P1.37-billion stock rights offering with bonus detachable warrants.
Cirtek said in a disclosure to the stock exchange it set the final price of the rights offering at P5.50 and the final exercise price for the bonus detachable warrants at P5.50.
The company plans to issue and list 249.44 million rights shares and another 249.44 million bonus detachable warrants with 249.44 million underlying common shares.
Investors who hold common shares of Cirtek as...
Read moreSep 16, 2020
MANILA, Philippines — Cirtek Holdings Philippines Corp., through its wholly owned subsidiary Quintel USA Inc., has bagged a new contract.
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