12.08.2025 04:51
Goh Cheng Liang, the visionary founder of the Wuthelam Group and controlling shareholder of Japan's Nippon Paint Holdings, passed away peacefully on Tuesday morning at the age of 98. His family released a statement confirming the news, highlighting his remarkable life and enduring legacy.
His eldest son and chairman of Nippon Paint, Goh Hup Jin, shared heartfelt words, describing his father as a model of kindness and strength. The statement emphasized the profound impact of Goh Cheng Liang's life, teaching his family the importance of compassion and humility. This poignant tribute underscored the deep respect and admiration felt for the late patriarch.
Goh Cheng Liang's journey from humble beginnings to billionaire status is a testament to unwavering determination and entrepreneurial spirit. Raised in modest circumstances in a River Valley Road shophouse with his family, he built a global empire. At the time of his death, Forbes estimated his net worth to be over $13 billion, largely stemming from his controlling stake in Nippon Paint.
His entrepreneurial journey began unexpectedly after World War II. Initially a fishnet seller and rubber tapper, he seized an opportunity to purchase surplus British army paint, which he cleverly transformed into the local "Pigeon" brand. This insightful move laid the foundation for his future success. A pivotal moment arrived in 1962 when he partnered with Nippon Paint, facilitating their expansion into Southeast Asia. Over six decades, he masterfully expanded the business across the region, eventually acquiring a significant stake in the company, now the world's fourth largest paint manufacturer by sales.
In 2021, a landmark $12 billion stock-and-cash transaction solidified the family's control over Nippon Paint. Led by Goh Hup Jin, the Wuthelam Group increased its stake in the Tokyo-listed company to approximately 60 percent, a significant increase from its previous 40 percent holding. This strategic move further cemented the family’s legacy and influence in the global paints industry, a fitting culmination of Goh Cheng Liang's remarkable life and business acumen. Information regarding the complete details of the deal was sourced from internet resources.
