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 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...

    Read more
  • Aug 17, 2021

    Holdings firm raises P1.4B thru SRO

    Published by Malaya

    Cirtek Holdings Philippines Corp. said it has successfully raised P1.37 billion in funding through a stock rights offer (SRO) where existing shareholders subscribed to 249.44 million shares at P5.50 per share.

    The SRO entitled a shareholder to buy one share from the pool of shares made available for every 1.68 Cirtek shares it owns. The company also included in the share sale one detachable warrant for each shares bought, which its holder can use to buy additional Cirtek shares at a price of P5.50, starting on the 12th month after the stock rights offer and until the 36th m...

    Read more
  • Jan 13, 2021

    Cirtek outlook rated stable

    Cirtek outlook rated stable

    Philippine Rating Services Corp. (PhilRatings) assigned an issuer credit rating of PRS A (corp.)

    Read more