Business World
CIRTEK ELECTRONICS Corp. plans to increase local production by 20% as it partners with major customers to provide parts for consumer electronics and electric charger products.
In a statement on Monday, Cirtek said that it will be providing services to develop a semiconductor package widely used for smart phones, personal computers, laptops, wireless communications, and other consumer electronics.
“These devices are predicted as major factors that will boost the global semiconductor industry growth for 2021,” Cirtek said.
The firm will also be working with an American company on high power transistors that will “increase efficiency and reliability” of energy power systems and chargers for electric vehicles, power adapters, and inverters.
Cirtek plans to scale up its production starting in the first quarter of 2021.
Electronics exports industry group Semiconductor and Electronics Industries in the Philippines, Inc. (SEIPI) in November announced that it revised its 2020 projection to a five percent decline, from the earlier forecast of 15% decline after industrial, consumer, mobility, and medical electronics demand increased.
The industry group expects 7% growth for 2021.
Shares in Cirtek jumped 11.8% or 87 centavos to P8.24 each on Monday. — Jenina P. Ibañez
Aug 16, 2021
Published by Daily Tribune
Cirtek Holdings Philippines Corporation (TECH) has raised P1.37 billion from the stock price offering of 249 million shares on Monday.
The company intends to use the proceeds from the offer to partially retire its short-term obligations and refinance the working capital of its subsidiaries, Quintel USA, Cirtek Electronics Corp. (CEC), and Cirtek Advanced Technologies and Solutions, Inc. (CATSI).
“I understand that Cirtek is eyeing new markets that would expand the product portfolio of its subsidiaries. With these activities, Cirtek’s units are well-positioned to bene...
Read moreDec 03, 2021
Published by Inquirer.net
Electronics manufacturer Cirtek Holdings Philippines Corp. is set to conclude today, Dec. 3, the public offering of as much as P2.5 billion worth of perpetual preferred shares, proceeds from which will be used to refinance debt and fund the expansion of key subsidiaries.
Cirtek’s preferred shares have two series: one with a synthetic maturity of three years carrying an interest rate of 6.5864 percent per annum, and another with a synthetic maturity of five years carrying an interest rate of 7.7506 percent per annum.
Higher divident rate The synthetic maturity means th...
Read moreDec 03, 2021
Published by Malaya
Cirtek Holdings Philippines Corp. expects to raise P2.5 billion from its ongoing preferred share sale.
It was earlier looking at a P3.5 billion fund raising.
The company said it is now selling 50 million of its preferred shares at an offer price of P50 apiece from an earlier 70 million, divided into an initial 30 million and another 20 million covering the oversubscription option.
The preferred shares that will have a series of TCB2C for the Preferred Class B-2 Subseries C and CB2D for the Preferred Class B-2 Subseries D will have a dividend rate of 6.5864 percent for TCB2C...
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