Cirtek unit’s supply deal with 2 telcos extended

Jul 14, 2021

Cirtek unit’s supply deal with 2 telcos extended

Published By Revin Mikhael D. Ochave Business World

A UNIT of technology company Cirtek Holdings Philippines Corp. has extended a master supply agreement with two telecommunication companies in North America.

Cirtek said in a regulatory filing on Monday that the agreement between its telecom base station antenna unit Quintel USA, Inc. and two unnamed carriers provides for a business extension of another five years.

“This comes at a time following a series of new product introductions released by Quintel when fifth generation (5G) is at an inflection point,” Cirtek said.

“Quintel’s 5G products are precisely designed with the customer’s network architecture in mind allowing synergies in terms of backwards compatibility to existing infrastructure while providing 5G capability at a fraction of the cost against competitor products,” it added.

Jorge S. Aguilar, Cirtek vice-chairman, said Quintel is projected to grow its business in the near to medium term due to the relevance of its products and positive customer reception.

“Our products allow carriers to stay ahead of their game and maximize 5G services in the quickest and most cost economical manner. We are preparing our supply chain, planning, capacity expansion and capital expenditures to fully support the demand as we look to grow our market share to double digit figures in the next three to five years,” Mr. Aguilar said.

Cirtek said that based on a research and market study published in March, the global 5G base station market is estimated to grow by a compound annual growth rate of around 32% over the period of 2020 to 2028 and is seen to cross market valuation of $177 billion by 2028.

On Monday, shares of Cirtek at the stock exchange ended flat at P5.52 apiece.

  • Aug 17, 2021

    Cirtek lists 249M common shares, to issue warrants

    Published by Business World

    CIRTEK Holdings Philippines Corp. has listed 249.44 million common shares in the local bourse, and will issue bonus detachable warrants of the same number, the company said on Monday.

    In a press release, Cirtek Holdings said that the common shares sold through a stock rights offer are at an offer price of P5.50 per entitlement right each. The company set the ratio at one entitlement right for every 1.68 common shares.

    Meanwhile, the company said that it is also issuing bonus detachable warrants which are free-of-charge to the investor. “[The warrants] shall be issue...

    Read more
  • Mar 14, 2022

    CIRTEK vaccination drive, SMILE Train wins Anvil, XTREME promo, ATBI program, GBP supports Bulig-Basa, Enstack now in PH, SECURITY Bank excellence award, COS collection, RCBC wins 5 Anvils, B

    Published by Malaya

    Cirtek vaccination drive

    Cirtek Holdings Philippines Corp. has extended its support to facilitate the drive to have majority of its employees vaccinated against COVID-19.

    The company worked with Laguna Technopark’s vaccination facility by fielding its own set of medical volunteers, giving its employees easier access to a vaccination facility directly adjacent to the company’s facility.

    This drove the workforce’s vaccination rate to 99.7 percent at present. The company’s medical team is moving forward to provide booster shots.

    Smile Train bags Anvil

    Smile Train, the world’

    Read more
  • Aug 16, 2021

    Cirtek lists P1.37-B rights shares with bonus warrants

    Published by Manila Bulletin

    Cirtek Holdings Philippines Corporation listed at the Philippine Stock Exchange its stock rights offering (SRO) shares worth P1.37 billion as well as the bonus detachable warrants that came with them.

    The SRO consisted of 249.44 million common shares sold at an offer price of 5.50 per Entitlement Right at the ratio of 1 Entitlement Right for every 1.68 common shares to eligible shareholders of record as of 7 July 2021.

    In addition to the rights shares, Cirtek issued 249.44 million Bonus Detachable Warrants free of charge. The Exercise Price for the Bonus Detachable...

    Read more