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

Eric Recto Latest News

Businessman buys about 1/3 of bank for $139 mln: PBCOM

"We are in a period of growth and expansion, and we need to fortify our capital base to help us achieve our growth targets," bank chairman Eric Recto said in the statement. Puregold's strong retail network will complement the bank's thrust to expand its ...
Posted: July 23, 2014, 5:00 pm

San Miguel to spend $1B to upgrade Malaysian refinery

The paper cited San Miguel President and director Eric Recto as saying that the investment will help ramp up the capacity of the company's newly acquired refinery that now stands at 88,000 barrels per day. "We are looking at the same achievement we did ...
Posted: August 29, 2011, 2:59 am

Petron offers to buy out minority owners in Esso Malaysia

Petron president Eric Recto said EMB is second to Malaysia's largest oil player, Petronas. “We are a smaller player in Malaysia, but we intend to be a strong, secondary player in that market. We think we will continue to grow from a consumption ...
Posted: March 18, 2012, 5:00 pm
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