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.

  • Aug 16, 2021

    Cirtek Holdings raises P1.37 billion from stock rights offer

    Published by Manila Standard

    Semiconductor manufacturer Cirtek Holdings Philippines Corp. said Monday it raised P1.37 billion from its stock rights offering. Cirtek said in a disclosure to the stock exchange it listed 249.442 million common shares sold by way of rights offering at P5.50 per share. Shareholders as of July 1 were entitled to purchase 1 share for every 1.68 common shares owned. The shares came with 249.442 million bonus detachable warrants that will be issued free of charge to the investors and as part of the subscription to the entitlement rights. Each bonus detachable warrant e...

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  • Jan 17, 2021

    Cirtek to hike output

    Cirtek to hike output

    MANILA, Philippines — Cirtek Electronics Corp will scale up its production and improve revenues

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  • 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...

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