Latest news with #GohFoundation
AsiaOne
12-08-2025
- Business
- AsiaOne
Goh Cheng Liang, Nippon Paint billionaire and richest Singaporean, dies aged 98, Money News
SINGAPORE — Goh Cheng Liang, the richest Singaporean according to Forbes' annual list of global billionaires in 2025, died at the age of 98 on Aug 12. The founder of paint and coatings company Wuthelam Group "passed away this morning with family members by his side", according to a media release. Goh held a majority stake in Japan's Nippon Paint Holdings and had an estimated net worth of US$13 billion (S$16.7 billion), according to Forbes. He grew up in a shophouse in River Valley Road with his parents and four siblings. In 1949, Goh launched his Pigeon Brand paint business, which later evolved into a partnership with Nippon Paint, the world's fourth-largest paint maker. He founded Wuthelam Holdings in 1974 and built it into a global conglomerate. Wuthelam Group currently owns nearly 60 per cent of Nippon Paint Holdings. The family's other ventures included the former Liang Court and Mount Elizabeth Hospital, both of which Goh developed and later sold. Goh was also a philanthropist who funded medical research, particularly in cancer treatment, and provided bursaries and scholarships for underprivileged students, as well as donations to various welfare agencies. In 1995, with the late Singapore president Wee Kim Wee's help, he set up the Goh Foundation to provide a more structured approach to his philanthropic efforts. The Goh Foundation contributed to the establishment of the National Cancer Centre in Singapore and its subsequent expansion to include the Goh Cheng Liang Proton Therapy Centre. It also awarded grants to support children's cancer research at KK Women's and Children's Hospital, the Viva Foundation and the National University Hospital. Goh, who is a cancer survivor, championed research into better treatments for rheumatological and immunological conditions through the ARiSE programme at Singapore General Hospital. He also backed supportive and palliative care initiatives with the National Cancer Centre in collaboration with the SingHealth Duke-NUS Academic Medical Centre. Beyond his contributions in Singapore, Goh also funded roads, clean water supplies, sanitation systems and several schools in Dawu Village, his ancestral home in Chaozhou, China. Goh is survived by three children, Goh Hup Jin, Goh Chuen Jin and Goh Chiat Jin, as well as eight grandchildren and one great-grandchild. His eldest son, Goh Hup Jin, said in a statement on Aug 12 that his father was "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 said. [[nid:720592]] This article was first published in The Straits Times . Permission required for reproduction.
Business Times
12-08-2025
- Business
- Business Times
Nippon Paint tycoon and Wuthelam founder Goh Cheng Liang dies at 98
[SINGAPORE] Singapore billionaire and philanthropist Goh Cheng Liang, founder of Wuthelam Group, passed away on Tuesday (Aug 12) morning at the age of 98. He is best known for founding Wuthelam Group and building it into a global conglomerate that includes Nippon Paint. Goh's business was focused on the paint business and property development. In 1949, he launched the Pigeon Brand paint business, and set up his first paint shop in Singapore in 1955. He steadily grew it into a partnership with Nippon Paint, the world's fourth-largest paint maker. By 1962, his business became the main distributor in the city-state for Nippon Paint. The Wuthelam Group owns a nearly 60 per cent stake in Nippon Paint to date. The family's other business ventures included the former Liang Court and Mount Elizabeth Hospital, both of which Goh developed and later sold. For many years, the media-shy Goh topped the Forbes' list of Singapore's richest. In 2024, the philanthropist's net worth stood at US$12.7 billion as the second-richest man in Singapore. Goh's philanthropic work dates back to 1995, when he set up the Goh Foundation to provide a more structured approach to his efforts, with the help of the late president Wee Kim Wee. Via the Goh Foundation, he contributed to initiatives such as the establishment of the National Cancer Centre in Singapore and its subsequent expansion to include facilities such as the Goh Cheng Liang Proton Therapy Centre, which provides patients with access to proton beam therapy, an advanced radiation treatment. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up His foundation also awarded significant grants to support children's cancer research at KK Women's and Children's Hospital, Viva Foundation and the National University Hospital. As a cancer survivor himself, Goh was committed to ensuring that the foundation's contributions would serve as a catalyst to initiate essential medical research aimed at improving cancer treatment outcomes. The Wuthelam Group founder championed research into better treatments for rheumatological and immunological conditions through a programme at Singapore General Hospital. In recent years, the Goh Foundation supported innovative developments in supportive and palliative care programmes with National Cancer Centre, in collaboration with SingHealth Duke-NUS Academic Medical Centre, which is also a beneficiary of the foundation's grants. His philanthropic moves extended to China, where he funded the construction of roads, clean water supplies, sanitation systems and several schools in Dawu Village, which was his ancestral village in Chaozhou. These initiatives were designed to modernise the economy and improve the quality of life for the community. A statement on behalf of the family said Goh passed away peacefully on Tuesday morning with family members by his side. He is survived by three children, Hup Jin, Chuen Jin and Chiat Jin, eight grandchildren and one great-grandchild.
