Singapore $107 Million Fuel Company Union Gas Founder & Chairman Teo Kiang Ang Buys 10 Singapore Shophouses from $884 Million Singapore Post (SingPost) for $43 Million ($55.5 Million) in Sale & Leaseback Transaction, 10 Shophouses are in 10 Different Locations (Tanjong Pagar, Teban Gardens, Clementi West, Towner Road, Serangoon Central, Jurong West, Ang Mo Kio, Bukit Merah Central, Ghim Moh Estate in Bedok North), Teo Kiang Ang Founded Union Gas in 1974 & IPO on Singapore Exchange (SGX) in 2021 with Current Market Value at $107 Million
5th August | Hong Kong
Singapore fuel company Union Gas ($107 million market value) founder & Chairman Teo Kiang Ang is buying 10 Singapore shophouses from Singapore Post (SingPost, $884 million market value) for $43 million ($55.5 million) in sale & leaseback transaction. The 10 shophouses are in 10 different locations in Singapore (Tanjong Pagar, Teban Gardens, Clementi West, Towner Road, Serangoon Central, Jurong West, Ang Mo Kio, Bukit Merah Central, Ghim Moh Estate in Bedok North). Teo Kiang Ang founded Union Gas in 1974, and IPO on Singapore Exchange (SGX) in 2021 with current market value at $107 million. Teo Kiang Ang – After establishing the business as a sole proprietorship in 1974, Mr Teo has accumulated over four decades of experience in the LPG market in Singapore, acquiring a deep understanding and knowledge of the industry. He is in charge of developing the strategic focus and direction for our Group. Mr Teo is both the Chairman and CEO of Trans-cab, a company primarily involved in providing taxi services in Singapore. Mr Teo holds a position as a committee member of Ngee Ann Kongsi, is the president of Chui Huay Lim (a Teochew clan association), and received the Public Service Medal (Pingat Bakti Masyarakat) in 2011. Union Gas – Union Gas Holdings Limited is an established provider of fuel products in Singapore with over 40 years of operating track record. Our key businesses comprise Retail Liquefied Petroleum Gas (LPG), Compressed Natural Gas (CNG), and Diesel. Over the years, we have gained significant goodwill and confidence from our customers and earned a reputation for quality, reliability, consistency, and safety. Committed to product and service quality, Union Gas works only with trusted suppliers to ensure the quality of its supplies. We also have a quality assurance system in its processes which includes product inspections and proper training for its drivers in product handling and transportation. Union Gas obtained the Gas License for Gas Retailer Licensee from the Energy Market Authority of Singapore on 17 April 2017 which allows us to supply and retail piped natural gas to customers in the services and manufacturing industries in Singapore. On 19 July 2021, Union Gas was listed on the Mainboard of the Singapore Exchange Securities Trading Limited (SGX-ST stock code: 1F2). We are one of the leading suppliers of bottled LPG cylinders to domestic households in Singapore under the established and trusted brand Union Gas. Union Gas operates the largest bottled LPG delivery fleets in Singapore with over 200 vehicles. This extensive distribution capability is further supported by an in-house call centre that operates all year round with a customer relationship management system. Our Retail LPG business today serves more than 200,000 domestics households in Singapore. We also produce, sell, and distribute CNG at our fuel station in 50 Old Toh Tuck Road under the trusted Cnergy name. It is one of the leading supplies of CNG primarily to natural gas vehicles (NGVs) and industrial customers for their commercial use. It also sells and distributes diesel to retail customers at its fuel station, as well as transports, distributes and bulk sells diesel to commercial customers. Our bottled LPG cylinders are sold under the Union Gas and SUNGAS brands.
“ Singapore $107 Million Fuel Company Union Gas Founder & Chairman Teo Kiang Ang Buys 10 Singapore Shophouses from $884 Million Singapore Post (SingPost) for $43 Million ($55.5 Million) in Sale & Leaseback Transaction, 10 Shophouses are in 10 Different Locations (Tanjong Pagar, Teban Gardens, Clementi West, Towner Road, Serangoon Central, Jurong West, Ang Mo Kio, Bukit Merah Central, Ghim Moh Estate in Bedok North), Teo Kiang Ang Founded Union Gas in 1974 & IPO on Singapore Exchange (SGX) in 2021 with Current Market Value at $107 Million “
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Singapore $107 Million Fuel Company Union Gas Founder & Chairman Teo Kiang Ang Buys 10 Singapore Shophouses from $884 Million Singapore Post (SingPost) for $43 Million ($55.5 Million) in Sale & Leaseback Transaction, 10 Shophouses are in 10 Different Locations (Tanjong Pagar, Teban Gardens, Clementi West, Towner Road, Serangoon Central, Jurong West, Ang Mo Kio, Bukit Merah Central, Ghim Moh Estate in Bedok North), Teo Kiang Ang Founded Union Gas in 1974 & IPO on Singapore Exchange (SGX) in 2021 with Current Market Value at $107 Million
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