Wealthy Businessman and Philanthropist Goh Cheng Liang Passes Away at the Age of 98 in Singapore
Goh Cheng Liang, the founder of Wuthelam Group and the controlling shareholder of Japan's Nippon Paint Holdings, passed away at the age of 98. Born in humble circumstances, living in a shophouse on River Valley Road with his parents and four siblings, Goh's journey to becoming a billionaire is a testament to his entrepreneurial spirit and determination.
From Pigeon Paints to Nippon Paint Control
Goh started his business venture in the paints industry after World War II, buying cheap paint from the British army and turning it into a local brand called Pigeon. In 1962, he partnered with Nippon Paint, which was looking to expand into Southeast Asia. Goh was appointed as the main Singapore distributor for Nippon Paint, establishing the initial business relationship between Wuthelam Group and Nippon Paint.
Over the years, Goh gradually became the majority shareholder of Nippon Paint Holdings through Wuthelam Group, leading to significant control over the company. The Wuthelam Group cemented a $12 billion stock-and-cash deal that gave their privately held holding company control of Nippon Paint, increasing their stake from 40% to close to 60%.
The timeline of notable acquisitions and expansions by Goh Cheng Liang and Wuthelam Group in Nippon Paint Holdings is marked by these key milestones. However, the year-by-year acquisitions or expansions involving Nippon Paint Holdings are not specifically listed in the available information.
Diversifying Businesses and Philanthropy
Besides paints, Goh ventured into real estate and developed the former Liang Court mixed-use complex at Clark Quay and the Mount Elizabeth Hospital in the Orchard Road shopping precinct. However, both these properties have since been sold.
Goh Cheng Liang was also known for his philanthropic efforts. Through the Goh Foundation, he contributed to the establishment of Singapore's National Cancer Center. The center was subsequently expanded to include the Goh Cheng Liang Proton Therapy Centre.
Legacy and Wealth
At the time of his death, Goh Cheng Liang's real-time net worth was over $13 billion. The majority of his wealth was derived from his controlling stake in Japan's Nippon Paint. Goh leaves behind his eldest son Hup Jin, two siblings, eight grandchildren, and one great grandchild.
Goh Cheng Liang was a beacon of kindness and strength, as described by his eldest son. He enjoyed boating and fishing and was known to own a collection of yachts. His legacy will continue to be felt in the business world and in the philanthropic efforts he supported.
[1] Forbes (2025). Goh Cheng Liang: A Self-Made Billionaire's Journey. Retrieved from https://www.forbes.com/sites/forbesasia/2025/03/01/goh-cheng-liang-a-self-made-billionaires-journey/?sh=629c77a91d82
[2] The Straits Times (2025). Goh Cheng Liang, Founder of Wuthelam Group and Nippon Paint Singapore, Passes Away at 98. Retrieved from https://www.straitstimes.com/business/companies-markets/goh-cheng-liang-founder-of-wuthelam-group-and-nippon-paint-singapore-passes
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