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Union Gas conserving funds for expansion

Slowing of commercial LPG sales during lockdown cushioned by increase in sales to households; company has S$21m war chest for opportunities such as acquisition.

CEO Teo Hark Piang says: ''Our broad base has helped us ride through different cycles. We started with residential (LPG), then added the commercial and industrial pieces. That has helped us as we go through the Covid cycle.''

STEADY growth in two of its three business segments over the past three years has put fuel retailer Union Gas Holdings in a strong position to weather the Covid-19 pandemic, and given it room to think about continued expansion and what its next big venture will be.

Revenue and net profits...

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