GMA News Online
By TED CORDERO, GMA News
Cirtek Holdings Philippines Corp. has been assigned an above average capability to fulfill financial obligations by a local debt watcher.
In a disclosure to the Philippine Stock Exchange on Tuesday, Cirtek said the Philippine Rating Services Corp. (PhilRatings) gave the listed electronic manufacturer a “PRS A (corp.)” credit rating in relation to its three-year shelf registration for commercial papers (CPs) of up to P2 billion.
Based on PhilRating’s credit rating system, a company rated PRS A (corp.) has “an above average capacity to meet its financial commitments relative to that of other Philippine corporates.”
The company, however, is somewhat more susceptible to adverse changes in circumstances and economic conditions than higher-rated corporates, according to PhilRatings.
The debt watcher also gave Cirtek a stable outlook as “an indication as to the possible direction of any rating change within a one-year period and serves as a further refinement to the assigned credit rating for the guidance of investors, regulators, and the general public.
A stable outlook is defined as “the rating is likely to be maintained or to remain unchanged in the next twelve months.”
Cirtek is a fully integrated global technology company focused on wireless communication.
It is primarily engaged into the following related businesses:
the design, development and delivery of the wireless industry’s antenna solutions the manufacture of valued-added, highly integrated technology products the manufacture and sales of semiconductor packages as an independent subcontractor for outsourced semiconductor assembly, test and packaging services
For the first nine months of 2020, consolidated revenues fell by 14.4% year-on-year to $59.5 million.
Net income registered a decrease of 1.7% year-on-year to $3.6 million. -MDM, GMA News
Aug 16, 2021
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 moreJul 14, 2021
Published by James A. Loyola Manila Bulletin
Quintel USA, Inc., the Telecom Base Station Antenna unit under of Cirtek Holdings Philippines Corporation has extended its Master Supply Agreement with two major leading carriers in North America.
In a disclosure to the Philippine Stock Exchange, Cirtek said “This extension allows Quintel another five years of secured business with these two telcos.”
It added that, “This comes at a time following a series of new product introductions released by Quintel when 5G is at an inflection point.”
Quintel’s 5G products are precisely designed with the custome...
Read moreJan 12, 2021
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.
Read more