C00055-2024

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Jan 4, 2024
2. SEC Identification Number
CS2011102137
3. BIR Tax Identification No.
007-979-726-000
4. Exact name of issuer as specified in its charter
Cirtek Holdings Philippines Corporation
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
116 East Main Avenue Phase V SEZ Laguna Technopark Binan Laguna Postal Code 4024
8. Issuer's telephone number, including area code
02 7729 62 05
9. Former name or former address, if changed since last report
-
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares 668,505,825
11. Indicate the item numbers reported herein
Item 9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Cirtek Holdings Philippines CorporationTECH

PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

PEZA Board approves the application of Cirtek to launch an Electric Motorcycle Assembly in the Philippines
Background/Description of the Disclosure

Cirtek Holdings Philippines Corporation (“CHPC” or the “Company”), is pleased to announce that the application of its business unit CIRTEK ADVANCED TECHNOLOGIES AND SOLUTIONS, INC. – PHILIPPINE BRANCH (CATSI) for registration as a Domestic Market Enterprise (DME) engaged in the manufacture and/or assembly of Electric Motorcycle (2-Wheel and 3-Wheel), and Lithium-Ion Battery Pack at the Laguna Technopark, Binan City, Laguna, was APPROVED by the Philippine Economic Zone Authority (PEZA) Board during its 19 December 2023 meeting. The Company received PEZA Certificate of Board Resolution on 04 January 2024.

Cirtek Advanced Technology and Solutions, Inc. (CATSI), a trailblazer in the electronics industry, is poised to make history as it announces the launch of its first-ever Electric Motorcycle Assembly and Lithium Battery Assembly facility in the Philippines. With a steadfast commitment to providing affordable and reliable mobility solutions, CATSI is set to transform the landscape of transportation in the region.

Affordable Solutions for the Working Class:
Recognizing the growing need for accessible and eco-friendly transportation options, CATSI is dedicated to serving the working class with affordable electric motorcycles. Our mission is to empower individuals with reliable mobility solutions that not only enhance their daily commute but also contribute to a cleaner and greener environment. CATSI is inspired by the success stories of our South East Asian and other neighbors who have embraced electric mobility solutions. Countries like Indonesia, Malaysia, Taiwan, Vietnam, and India among others, have already adopted a similar concept, demonstrating the positive impact of electric vehicles on their communities. CATSI believes that by bringing this enthusiasm to the Philippines, we can contribute to a sustainable and forward-thinking future. With the company's long-standing legacy in the electronics industry, we are poised to introduce new technologies and innovations to the electric mobility sector. Our deep understanding on quality products positions us as a key player in driving advancements within the industry, ensuring that our electric motorcycles not only meet but exceed the expectations of our customers.

Strategic Partnership with Industry Leader:
In a strategic move to ensure the highest quality and cutting-edge technology, CATSI has partnered with one of the largest and most reputable Electric Motorcycle and Lithium battery manufacturers in China. This collaboration brings together the expertise and resources of two industry leaders, guaranteeing that our electric motorcycles meet the highest standards of performance, safety, and innovation.

Production Set to Begin:
Anticipation is building as CATSI gears up to commence production this 2024. With the recent approval from Philippine Economic Zone Authority (PEZA), this milestone not only marks a significant achievement for CATSI but also a groundbreaking moment for the electric mobility sector in the Philippines. According to the Management of CHPC, “Although the Philippines lag behind our neighbors with regard to the adoption of Electric Vehicles, we expect a big turnaround in the industry very soon. Asian Development Bank (ADB); based on their publication in 2022 about the Electric Motorcycle Roadmap; stated that there will be around 300 Million units in Asia by the year 2030. In the Philippines, there are an estimated 18.8 Million registered and unregistered gas motorcycles and expected to increase more with 22.20% CAGR, highest growth rate among Southeast Asia. This data drives CATSI to target at least 1 Million units within 3 to 4 years for domestic sales alone, as we expect most consumer will embrace the Electric Vehicle specially the 2-wheel as the main transport solution.”
Other Relevant Information

Please see the attached Press Release and SEC Form 17-C.
Filed on behalf by:
Name Emelita Cruzada
Designation Chief Compliance Officer