UNION Gas Holdings on Thursday evening named Teo Hark Piang as the new CEO of the group, following his appointment as an executive director and director of sales last November.
Mr Teo, 41, is the son of Teo Kiang Ang, the non-executive chairman and controlling shareholder of the fuel products provider. According to disclosures made to the Singapore Exchange, the younger Mr Teo holds directorship at Union Energy Corporation , and has 12.55 per cent shareholding interest in the gas manufacturer.
Union Gas' board, however, does not consider UEC to be a direct competitor because both companies serve different types of customers. Mr Teo has also not been involved in the day-to-day operations of UEC Group since November 2018.
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