Towards the end of his life, Goh Cheng Liang was known as the richest Singaporean, owning some of the world’s most luxurious superyachts, but his humble beginnings left an indelible mark on the elusive paint tycoon and spurred his philanthropic efforts. He died on Tuesday at the age of 98.
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.
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’.”
