12 Aug '11, 9am

Nippon Gas expanding into retail energy markets in SEA

TOKYO - Nippon Gas, a leading retailer of liquefied petroleum gas, is planning a major foray into the retail energy markets of South-east Asia this fiscal year, The Nikkei business newspaper reported Friday. The company will spend between ¥5 billion (S$79 million) and ¥30 billion to acquire or take equity stakes in local firms to gain footholds in Indonesia, Singapore, Thailand, Malaysia and Vietnam. Nippon Gas has just begun considering potential investment targets there, but its goal is to expand overall foreign sales to ¥100 billion after five years, on par with its current business in Japan. The domestic market for LPG is flattening out, so Nippon Gas has turned its focus overseas for growth. In June, the company acquired an 11.4 per cent stake in energy retailer Australian Power and Gas, and the following month purchased convertible bonds issued by US energy retailer ...

Full article: http://www.todayonline.com/Business/EDC110812-0000769/Nip...

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