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
Sep 16, 2020
Cirtek Holdings Philippines Inc. said US-based subsidiary Quintel bagged a telecommunications contract
Read moreAug 16, 2021
Published by Business Mirror
Cirtek Holdings Philippines Corp. on Monday listed on the Philippine Stock Exchange (PSE) 249.44 million in common shares that carry a detachable warrant, which the company sold via a stock rights offering (SRO).
The said shares were sold at P5.50 per share, or a total of P1.37 billion.
Cirtek shares were last traded at P4.60 apiece.
In his welcome message, PSE president and CEO Ramon S. Monzon cited the competitive environment of the technology solutions space given the rapid advancement in this field and expressed optimism over Cirtek’s plans for its subsidiaries...
Read moreSep 15, 2020
The US unit of Laguna-based Cirtek Holdings Philippines Corp. on Tuesday said it bagged a deal for a master purchase agreement with one of the top 5 wireless carriers in North America.
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