Cirtek sees 20% growth from new major contracts

Jan 12, 2021

Cirtek sees 20% growth from new major contracts

Manila Bulletin

by James A. Loyola

Cirtek Electronics Corporation reported that its revenues will get a 20 percent boost this year as it ramps up production for two major tier 1 customers for the full turnkey services of their new products.

“The company is fortunate to be in an industry that is about to experience a revolutionary boom and we are very excited to take part in creating and shaping a new world as we emerge where technology and communications will be a main driving force as evidenced by this pandemic,” said Cirtek Vice Chairman Jorge Aguilar.

In a disclosure to the Philippine Stock Exchange, Cirtek said it is scaling-up the production of Quad Flat No Leads Package (QFN) which is widely used for high volume Products like smart phones, PC and laptops, Wireless communication, and consumer electronics.

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

Cirtek said its second major capacity expansion involves a global semiconductor company, based in California USA focused on Gallium Nitride (GaN) high power transistors and modules for high- voltage power conversion applications.

The product is for intelligent power modules that will increase efficiency and reliability in energy power

system, electric chargers for Electric Vehicles, Power adapters and Inverters, etc.

Meanwhile, the firm said subsidiary Cirtek Advanced Technology and Solutions is excited to roll out its 5G chipset for mass production.

In the middle of 2020, Cirtek Advanced Technologies and Solutions Inc. finalized a multi-million project with a Texas based company for the manufacture of Signal Processing Units and Indoor Radio Frequency Units.

These will be part of the system infrastructure that will be used for communication services for public safety, government, utilities, and industrial customers.

In addition, it also finalized recently a contract for manufacturing services with a New York based company to mass produce Radio Frequency Power Modules for high speed data transmission for aerospace applications.

These power modules will help provide solutions to challenging problems from deep space to depths of the ocean and serve customers in the defense, space and satellite, security, industrial, and medical industries.

Another unit, Quintel USA, Inc., is projected to release a new line of C-Band antenna family early this year following a successful auction in 2020 when US Federal Communications Commission (FCC) released its latest 5G spectrum for sale.

  • 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
  • Oct 27, 2021

    Cirtek aims to raise ₧3.5B from preferred shares offer

    Published by Business Mirror

    The Securities and Exchange Commission (SEC) has approved Cirtek Holdings Philippines Corp.’s public offering of up to P3.5 billion worth of preferred shares.

    In its en banc meeting, the agency approved the registration statement of Cirtek covering 50 million preferred B-2 Subseries C and D shares at an offer price of P50 per preferred share, with an oversubscription option of up to 20 million preferred shares.

    The preferred shares will be listed and traded on the Main Board of the Philippine Stock Exchange (PSE).

    The Laguna-based manufacturer expects to net P3.44 ...

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  • Aug 17, 2021

    Holdings firm raises P1.4B thru SRO

    Published by Malaya

    Cirtek Holdings Philippines Corp. said it has successfully raised P1.37 billion in funding through a stock rights offer (SRO) where existing shareholders subscribed to 249.44 million shares at P5.50 per share.

    The SRO entitled a shareholder to buy one share from the pool of shares made available for every 1.68 Cirtek shares it owns. The company also included in the share sale one detachable warrant for each shares bought, which its holder can use to buy additional Cirtek shares at a price of P5.50, starting on the 12th month after the stock rights offer and until the 36th m...

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