Eric Recto Net Worth is$365 $Million
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Company |
Company Name: Connectivity Unlimited Resource Enterprise, Inc., (Red Mobile)/ company logo
Red Mobile (also red mobile), formerly A 1/4 mobile and legally as Connectivity Unlimited Resource Enterprise, Inc. (CURE), is a wholly owned subsidiary of Smart Communications, the Philippines' largest mobile telecommunications company. When it was initially launched as A 1/4 mobile, it used the CURE Universal Mobile Telecommunications System network. At that time, it offered its services through an invitation-based, ad-supported platform, catering to middle and upper-class subscribers between the ages of 15 and 35, devoting its services to that demographic. After re-branding as Red Mobile, both the ad-supported revenue platform and invitation system were scrapped in favor of a more traditional marketing and revenue-generating approach. In March 2010, Red Mobile started promoting its unlimited service offerings. However, subscribers started reporting on online social networks that the CURE UMTS network has since been converted to a GSM network.
CURE was established in 2001 by two companies: PH Communications Holdings Corporation and Francom Holdings, companies both owned by businessman Roberto Ongpin, with Eric Recto as president of the new company. Congress granted the company a twenty-five year franchise to provide telecommunications services in the Philippines on April 24, 2001. However, significant operations did not commence until 2005, when CURE applied for one of the five 3G licenses being offered by the National Telecommunications Commission. It was one of four companies (the other three being Globe Telecom, Sun Cellular and CURE's current parent company, Smart Communications) to have been awarded a 3G license in 2006.
The awarding of a 3G license to CURE by the NTC is considered controversial and was the subject of a request by Juan Ponce Enrile for the Senate to conduct an inquiry in aid of legislation regarding the NTC's judgment in issuing the licenses. Enrile's request cites the incapability of CURE to independently mount a 3G network, as well as

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Eric Recto Latest News

All in the family

It all began when tycoon Roberto Ongpin invited his nephew Eric Ongpin Recto to join his company. Today Recto is Ongpin’s right-hand man and heir apparent. Recto is president of ISM Communications, vice chair of PhilWeb and Alphaland Corporation and ...
Posted: September 3, 2011, 5:00 pm

Eric O. Recto’s P6-B ‘partial’ wealth

Address: 2/F Sitio Grande Building 409 A. Soriano Avenue, Intramuros Manila 1002 Philippines Tel. : +63 (02) 524 5664 up to 67 Fax: +63 (02) 528-1729 Email:
Posted: December 2, 2013, 4:00 pm

Philippines' Petron to invest in ExxonMobil Malaysia downstream operations

Petron has yet to finalize the size of the investment and the stake, it told the stock exchange. Petron president Eric Recto told Dow Jones Newswires that the board has yet to decide whether to buy all or a portion of the stake that parent firm San Miguel ...
Posted: October 31, 2012, 5:00 pm
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