Cirtek subsidiary bags telco contract for 5G in US

Sep 16, 2020

Cirtek subsidiary bags telco contract for 5G in US

Business World

A SUBSIDIARY of Cirtek Holdings Philippines Corp. has been awarded a contract to provide antenna to a telecommunications operator in the United States for fifth generation (5G) network rollout.

In a statement on Tuesday, the electronics manufacturer said its wholly owned subsidiary Quintel USA, Inc. recently signed the contract for a master purchase agreement with an unnamed telco provider.

It intends to launch a new platform of small cell antenna products, which will complement its portfolio of Multi-port Base Station Antenna used for 3G, 4G, and 5G networks.

The telco operator that signed Quintel is anticipated to spend nearly a billion dollars this year. US wireless carriers are likewise seen to raise capital expenditures by 11% to $35 billion next year.

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

Recently, Cirtek reissued P545.2-million bonds to support Quintel’s capital expenditures and refinance short-term loans.

The company booked an attributable net income of $2.63 million in the first half of 2020, up by 118% from last year, due to better margins during the period.

Shares in Cirtek gained 41 centavos or 7.24% to P6.07 each on Tuesday. — Denise A. Valdez

  • Jul 08, 2020

    Press Release  -  July 08, 2020

    Press Release - July 08, 2020

    Quintel USA, Inc., a subsidiary of Cirtek Holdings Philippines Corp (CHPC)

    Read more
  • Oct 27, 2021

    Jerry Liu gets SEC’s nod to proceed with Cirtek’s preferred share offer

    Published by Bilyonaryo

    The Securities and Exchange Commission (SEC) has approved the plan of Jerry Liu-led Cirtek Holdings Philippines Corp. to raise up to P3.5 billion from the sale of preferred shares.

    Cirtek is selling up to 70 million preferred shares at P50 per share.

    Net proceeds from the offering, amounting to P3.44 billion, will be used to refinance debt, pay down maturing obligations and support capital expenditure requirements.

    The offering will start on November 25 and will run until December 3, in time for the listing of the preferred shares on the Philippine Stock Exchange on Dec...

    Read more
  • Jan 12, 2021

    Cirtek announces program to expand production by 20%

    Cirtek announces program to expand production by 20%

    Cirtek Holdings Philippines Corp. said Monday unit Cirtek Electronics Corp. will expand production capacity in the first quarter to boost revenues.

    Read more