Singapore-based Union Gas Holdings appoints a CEO
After being appointed as the executive director and director of sales (commercial and industrial) in last November, Teo Hark Piang now becomes the Chief Executive officer of the group.
Teo Hark Piang has earlier been associated with Union Energy Corporation which is also incorporated in Singapore and its principal business activities are the manufacture of gas, distribution of gaseous fuels through mains, and the general wholesale trade (including general importers and exporters). Union Gas Holdings does not consider it to be a direct competitor as both companies serve different types of customers. While Teo Hark Piang still holds a directorship at Union Energy Corporation (UEC) and has 12.55 percent shareholding interest in the gas manufacturer, he has not been involved in the day-to-day operations of UEC Group since November 2018.
He also is interested or holds or has held directorships in certain other entities including Gasmart Pte Ltd, Jurong Ind. LPG Pte Ltd, Sembas (Asia) Trading Pte Ltd, Semgas (S) Pte Ltd, Firstway LPG Pte Ltd, Semgas Supply Pte. Ltd., and Summit Gas Systems Pte Ltd which are subsidiaries of UEC.
In fact, as per the disclosures made to the Singapore Exchange, Teo Hark Piang has been investigated before for omitting certain income items for the years of assessment from 2004 to 2009 when he was a director at Semgas and Gasmart Pte Ltd. He had to pay S$117,000 in penalties to the Inland Revenue Authority of Singapore (Iras). Additionally, he also had to pay a penalty for not declaring car benefits for the reporting to Iras from 2004 to 2009, which he settled in 2012.
The newly appointed CEO is the son of Teo Kiang Ang, the non-executive chairman and controlling shareholder of Union Gas Holdings. He founded the business as a sole proprietorship in 1974 and has more than 40 years of experience in the LPG market in Singapore and has gained intimate knowledge and understanding of the business. Currently, he is responsible for formulating the Group’s strategic focus and direction.
He began helping in his father’s LPG cylinder distribution business from a young age and worked his way up from the bottom, learning the trade from his father’s subordinates. He even worked as a gas delivery man, driving a truck to deliver gas cylinders to customers. As a result, when he was finally placed in charge, he received the support of many long-serving employees.
Teo Hark Piang believes in teamwork and considers the people or the talent in the company critical to the business, In an interview, he was once said, "Having only a pair of hands and 24 hours a day, there’s always a limit to what one can do. There needs to be teamwork.”
“Regardless of how advanced technology has become, we still need to rely on people to do the work. As we are dealing with humans, it all boils down to being humane,” he added.
How son Teo Hark Piang takes the reign of his father forward is to look forward to.
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