SINGAPORE: Mr Goh Cheng Liang, who became one of Singapore’s richest people after going into the paint business by teaming up with Japan’s Nippon Paint, has died at the age of 98.
Mr Goh founded a company that went on to own 60 per cent of Nippon Paint, the world’s fourth largest paint maker.
He died peacefully on Tuesday (Aug 12) morning with family members by his side, his family said in a statement sent to the media.
Mr Goh reportedly had a net worth of US$13 billion (S$16.7 billion).
Born in Singapore, he grew up in a River Valley Road shophouse and got into the paint business in 1949, when he started a paint company called Pigeon Brand.
He began distributing Nippon Paint’s products in 1955, and in 1962, he established Nippon Paint Singapore in partnership with the Japanese company.
He founded Wuthelam Holdings in 1974, and his business ventures would evolve into the Wuthelam Group, a conglomerate which became Nippon Paint’s largest shareholder in 2020. The group holds a stake of close to 60 per cent in the world’s fourth-largest paint maker.
Mr Goh and his family also developed and later sold Liang Court, a mixed use development which has since been demolished, and Mount Elizabeth Hospital.
The tycoon was also a philanthropist who was “deeply passionate about advancing medical research, particularly in cancer treatment”, his family said.
He also provided bursaries and scholarships to underprivileged students, made donations to welfare agencies and funded infrastructure projects in his ancestral village in China, they added.
“To his family and friends, Mr Goh was a humble and private man, known for his great sense of humour and joie de vivre, tempered by a strong determination to succeed,” his family said.
“He was also a highly astute and creative businessman with exceptional numerical skills and an uncanny ability to identify opportunities.”
“He believed in living life to the fullest and loved spending time with his grandchildren, as well as enjoying activities like boating, fishing, savouring good food and travelling. To him, wealth was a means to a happy and meaningful life while making a positive impact on others,” they added.
Mr Goh’s eldest son, Mr Goh Hup Jin, described him as “a beacon of kindness and strength”.
“We are very fortunate to have had him show us how to be a good person. He taught us to live life with compassion and humility,” he added.
Mr Goh leaves behind three children, eight grandchildren and one great-grandchild.
