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
Dec 03, 2021
Published by The Manila Times
LISTED Cirtek Holdings Philippines Corp. on Thursday said it received its permit to sell and order of registration of securities from the Securities and Exchange Commission for its preferred shares offering.
In a disclosure to the exchange, the company said it is set to offer up to 50 million cumulative, non-participating, non-voting, non-convertible perpetual and redeemable peso-denominated Preferred Class B-2 Shares with a par value of P1 each priced at P50 apiece.
The shares will be issued as Preferred Class B-2 Subseries C or D Shares.
Cirtek expects to raise ...
Read moreAug 16, 2021
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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...
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