August 12 marked the passing of Singaporean business titan Goh Cheng Liang, founder of Wuthelam Holdings and majority shareholder of Nippon Paint Holdings, at the age of 98. His family confirmed that he died peacefully at home in Singapore, surrounded by loved ones.
Mr. Goh’s departure signifies the end of an era for Asia’s coatings industry. He built a business empire that transformed the paint and coatings sector in the Asia-Pacific region and inspired generations of entrepreneurs.
According to the Bloomberg Billionaires Index, Mr. Goh’s fortune was estimated at USD 13.2 billion, while Forbes placed his net worth at USD 10.4 billion, ranking him among Singapore’s wealthiest individuals. His company, Wuthelam Holdings, controls nearly 60% of Nippon Paint Holdings one of the largest paint manufacturers in the region.
Mr. Goh’s business journey began in humble circumstances. Born in the Chaoshan region of Guangdong, China, in the 1920s, he grew up during a time of economic hardship and political upheaval.
Forced to leave school at 14 due to wartime disruption, Mr. Goh entered the paint trade as a teenager. After an unsuccessful attempt to run a soft drink factory, he turned his focus to paint mixing and sales, identifying a gap in the market that would lay the foundation for his future success.
In 1962, Mr. Goh partnered with Japan’s Nippon Paint, establishing the Lion Paint Company (later part of Wuthelam Holdings) and acquiring a 60% stake. His vision combined Japanese manufacturing expertise with local market insight, enabling rapid expansion across Southeast Asia. Over the decades, he grew Wuthelam into a diversified conglomerate with interests spanning banking, finance, electronics, real estate, retail, and healthcare. In 2020, Wuthelam secured a controlling stake in Nippon Paint Holdings, cementing Mr. Goh’s position as a global coatings industry leader.
Mr. Goh’s story rising from a war-disrupted adolescence to global business prominence has become part of Asian corporate folklore. His perseverance, strategic foresight, and willingness to embrace cross-border partnerships reshaped the regional coatings industry and set new standards for corporate growth.
While his passing closes a remarkable chapter in Asian business history, Mr. Goh’s entrepreneurial spirit, long-term vision, and dedication to innovation will continue to inspire leaders in the home improvement, building materials, and manufacturing sectors for decades to come.
Source: 77 Global Furnishings Media
