Singapore's richest man dies at 98: Goh Cheng Liang's journey to Nippon Paint tycoon
Goh, the founder of Wuthelam Group which owns close to a 60 per cent stake in Nippon Paint Holdings, and – according to Forbes – had an estimated net worth of US$13 billion (S$16.7 billion), died with family members by his side, Wuthelam said in a release.
Born in
Singapore in 1928, Goh spent the first 12 years of his life in a rented room of a River Valley shophouse with his parents, three sisters and a brother.
He chose the location as the site to make one of his most iconic property developments, Liang Court, in the early 1980s. It was the first shopping centre along River Valley Road, now a nightlife hotspot in the city state.
He hired former politician Ker Sin Tze to be in charge of the Liang Court project. Ker told This Week in Asia: 'I once asked him: 'Why River Valley, why not find a piece of land in Orchard Road?' but he said no, that area is where he was born and grew up and now that he had made it he wanted to develop there.'
Ker, who worked for Goh between 1980 and 1992, before joining politics and becoming a minister of state, called Goh a helpful and patient boss. 'I was not familiar with property development, but he said, 'Well, you can learn on the job'.'
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