Taking Stock Of Stocks

Union Gas all fired up for growth in energy sector

Mr Teo Hark Piang (above), chief executive of Union Gas. The company traces its roots to Choon Hin, a sole proprietorship set up in 1974 which sold bottled LPG cylinders and household items out of a sundry shop in Marine Terrace. It has evolved to als
Mr Teo Hark Piang (above), chief executive of Union Gas. The company traces its roots to Choon Hin, a sole proprietorship set up in 1974 which sold bottled LPG cylinders and household items out of a sundry shop in Marine Terrace. It has evolved to also supply CNG and diesel, and was listed on the Singapore Exchange's Catalist board in July 2017.ST PHOTO: NG SOR LUAN

In this monthly series, The Sunday Times and the Singapore Exchange's research team interview company bosses to help investors get a better look at a company's operations, by going beyond the financials.

Listed on the Singapore Exchange's Catalist board in July 2017, home-grown Union Gas Holdings (Union Gas) is a provider of fuel products to the residential, commercial and industrial sectors in Singapore.

For financial year 2018, Union Gas' revenue grew 43.8 per cent year on year to $56.4 million, with net profit rising 84.9 per cent to $6.4 million. This was made possible by its entry into the commercial liquefied petroleum gas (LPG) business and the expansion of its residential distribution network in the same year through strategic acquisitions.

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A version of this article appeared in the print edition of The Sunday Times on August 04, 2019, with the headline 'Union Gas all fired up for growth in energy sector'. Print Edition | Subscribe