SINGAPORE (Aug 12): Goh Cheng Liang, the founder of Wuthelam Holdings, controlling shareholder of Tokyo-listed Nippon Paint and a philanthropist, has passed away aged 98. The news was confirmed by a statement issued by Wuthelam on Tuesday.

Goh, who was born in 1927, was one of Singapore’s most low-profile but richest tycoons. According to Forbes’ 2025 list, Goh was ranked the 182nd richest person in the world with a net worth of around US$13 billion (RM55 billion). In 2024, Goh placed fifth within the Singapore list with a net worth of US$10.4 billion. Facebook’s Eduardo Saverin, Far East Organization’s Robert and Philip Ng, Mindray’s co-founder Li Xiting and Hong Leong’s Kwek Leng Beng and family came in first to fourth respectively.

Goh had begun his foray into the paint business in 1955 and became the main distributor for Nippon Paint in 1962. He then established Wuthelam, a paint and coatings maker, in 1974.

In August 2020, the Gohs acquired more shares in Nippon Paint for ¥1.29 trillion (US$16.69 billion at the time), bringing their stake up to just under 60%, up from 39% previously. The deal was concluded by Goh’s son, Hup Jin, who was appointed Nippon Paint’s chairman in 2018...(click here for the story on theedgesingapore.com).