goh cheng liang super yacht

White Rabbit, the world’s largest luxury trimaran: all you need to know

• Inspiration

Related News

Popular news this week, popular news this month, latest news.

• Yacht Charter & Superyacht News >

Written by Rachael Steele

Trimarans such as 84m/275.6ft luxury yacht WHITE RABBIT are a rarity within the luxury yachting industry, however the benefits of multiple hulls have been well recorded, providing greater stability and with top quality contemporary naval architecture, a smoother cruising experience with reduced noise and less of an environmental impact.

White Rabbit – exterior

Billionaire WHITE RABBIT Owner Goh Cheng Liang is one strong proponent for trimarans: His previous 61.4m/201ft luxury yacht built by North West Bay Yachts Pty Ltd. Australia – also named WHITE RABBIT – was a trimaran delivered in 2005 and accommodated up to 16 guests and 16 crew.

White Rabbit – interior

He is in an excellent position to judge their benefits, having started with a monohull from Feadship in 1989 before owning a second monohull in 1995 also named WHITE RABBIT. In 2001 he changed to a catamaran before going for his first trimaran in 2005, the 61m/201ft predecessor to the current – and fifth – WHITE RABBIT.

A 51/167ft luxury support catamaran named CHARLEY followed suit in 2017 that has on board a grand piano in the main salon, a sheltered observation deck and touch-n’-go helipad. The most impressive features aboard CHARLEY however are her dive store with a decompression chamber and a sonar system for finding wreck dives. The accommodation provides for five guests over three en-suite staterooms, and a crew of 13 to ensure that everything runs smoothly on board.

Echo Yachts also built the latest WHITE RABBIT trimaran launched in 2018, and at the  World Superyacht Awards 2019 she was nominated for the  Displacement Motor Yachts 2,000GT and above category, was a finalist in the  Best Exterior Styling Motor Yachts 60m and Above category at the  Boat International Design & Innovation Awards 2019 and won the  Best Naval Architecture: Displacement Motor Yachts category at the same awards show.

M/Y WHITE RABBIT has a wide beam of 20m/65.6ft, which is 5m/16.4ft wider than most monohulls in this same size category. As a result she has a large interior volume of 2,940 GT, which is comparable to monohulls of 90m/295ft in size: Recently refitted 85.1m/279ft SOLANDGE weighs in at 2,899 GT, while 108m/354ft Benetti giga yacht IJE is not so far off with an interior volume of 3,367 GT.

Indoor socialising

When it came to creating the interior layout for WHITE RABBIT, Sam Sorgiovanni had practice with the previous smaller luxury trimaran. Owner Goh Cheng Liang provided a clear brief: The larger vessel was to be used by extended family encompassing multiple generations with the capacity for corporate use. The resulting accommodation sleeps up to 30 guests across 11 en-suite cabins consisting of 2 Master suites, 3 VIP staterooms and 6 other guest cabins. Each family member was consulted for their input on the accommodation and entertaining areas (totalling 1,200m²/12,916ft²), and the response was overwhelmingly ‘more of the same from 61-metre WHITE RABBIT, just on a larger scale’. The art deco styling of the smaller trimaran has also been transferred, albeit in a more subtle fashion, such as the wall sconces and the jellyfish-like light column at the main salon bar.

Brushed Tasmanian oak in a chequered pattern can be found throughout the decks and adds a welcoming touch to the elegant interiors designed to suit a formal event as much as family time together.

As the crew of 32 are on call around the clock, they are almost just as well catered for as the guests and have a massive mess and lounge on the main deck forward that has plenty of natural light and great views. Sorgiovanni requested the cabinetry and furnishings be custom made by Alia Yachts in Turkey following their quality collaboration on M/Y RUYA in 2016.

The open plan main salon places a more contemporary lounge to port, while to starboard the space is designed to suit the older generations. While there is a degree of privacy between the two spaces, there is still a connection that prevents separation altogether. Farther aft is the bar, games room and dining area. As there are no TVs in the cabins (except the Owner’s), the younger generations are not hidden away throughout their time on board and are instead engaging with the rest of the group.

White Rabbit – decor element

A sweeping staircase leads from the main deck foyer to the upper deck, where the skylounge has a more cosy and intimate atmosphere after the expansive main salon. This media-focused room is furnished with a karaoke area and a baby grand piano. The guest accommodation placed upon this level enjoys excellent views through large yet more traditional windows that create a ‘viewing portal’ effect while maintaining guest privacy. Instead of an abundance of wardrobe space, guests have a bench to lay out their belongings, as those on board are expected to spend much of their time in the social areas and at each destination, using their cabins only for rest and the en-suite facilities.

White Rabbit – twin cabin

The sundeck above provides another games lounge within the forward section along with a cinema fitted with chairs that shake with the on-screen action.

Life alfresco

Outside, the broad beam provides plenty of room for dockside events hosting up to 200 guests.

As a result of having three hulls there are three swim platforms, the centre on being the largest for sunbathing beside the water, while the side platforms have staircases for access to the main deck aft.

Both this area and the upper deck are designed for alfresco dining, while the foredeck is more suited to outdoor lounging with two circular drinks tables and plenty of seating for the whole group to watch the sunset or a local regatta. The bow section is used for storing the larger water toys and tenders, which are launched and retrieved using a Davit crane.

The sundeck is furnished with a spa pool and sunbeds, while to the aft, a large alfresco dining table is placed beneath the shade of an overhang.

White Rabbit – top view

The outdoor spaces seem sparse in comparison to the rich interior detail, yet this suits the family fine as they spend most of their time together conversing indoors, exploring their destinations or playing in the water.

Engineering

When it comes to on board comfort through engineering, trimarans provide a smoother on board experience during cruising, while at anchor and in bow-on weather when compared to monohulls of approximately the same displacement. It is only in stern-quartering seas that trimarans under-perform in comparison, and to combat this effect the naval architects used experience gained from the previous design of the 64m/209ft WHITE RABBIT trimaran to add solutions such as the four large Naiad fins around the centre hull. To reduce the roll, each hull was designed with significant flare and the Owner is able to choose the buoyancy in the outer hulls to match his comfort preference.

The three streamlined hulls also create less drag in the water and from this comes another advantage over single-hulled luxury yachts: Under typical cruising conditions trimarans use 40% less power, thereby reducing running costs as well as fuel consumption.

The interior arrangement needed to be modified on the later WHITE RABBIT trimaran as the Owner – who had a cabin in the centre hull where the majority of the engineering was also housed – wanted noise to be limited, and to reach this goal he gave Echo Yachts free reign to explore alternative solutions. As a result, recorded sound levels in the lower deck Master suite were at just 40db while cruising at 13 knots, and noise levels were even quieter on the decks above.

White Rabbit – Exterior

Four Caterpillar C32 generators of 940kW each and two C18 generators of 550kW each are installed on board and use a Kongsberg power management system. Only two gensets are required for a cruising speed of 12 knots, of which 25% (500kW) is used to run on board systems at the same time using 320 litres of fuel an hour. M/Y WHITE RABBIT has a transatlantic-crossing range of 5,000 nautical miles on just 166,200 litres of fuel. In comparison, SOLANDGE has a capacity of 222,000 litres.

The engineering team decided on diesel-electric propulsion with generators placed in the outer hulls to power STADT electric motors in the centre hull, where two Rolls-Royce variable pitch props are situated.

MORE INFO AND IMAGES OF WHITE RABBIT

Please contact CharterWorld - the luxury yacht charter specialist - for more on superyacht news item "White Rabbit, the world's largest luxury trimaran: all you need to know".

• Charity & Fund Raising
• CharterWorld News
• Classic Yachts
• Coronavirus
• Cruise Ship
• Ecological Yachts
• Expedition Yachts
• Expert Broker Advice
• Feature Superyachts
• Interior Design
• Legal & VAT Yacht Issues
• Luxury Catamarans
• Luxury Gulet
• Luxury Phinisi
• Luxury Trimarans
• Luxury Yacht Design
• Luxury Yachts
• Marinas & Harbours
• Marine Ecology
• Marine Electronics
• Marine Equipment
• Mega Yachts
• Modern Yachts
• Motor Yachts
• New Launch Yachts
• New To Charter
• Open Style Sports Yachts
• Private Jets
• Sailing Yachts
• Social Media
• Sports Yachts
• Superyacht Crew
• Superyacht Photographers
• Superyacht Products & Supplies
• Superyacht Refits
• Superyacht Reviews
• Superyachts
• Uncategorized
• Yacht Builders
• Yacht Charter
• Yacht Charter Destinations
• Yacht Charter Picks
• Yacht Charter Specials
• Yacht Delivered to Owner
• Yacht Designers
• Yacht Events & Boat Shows
• Yacht Fashion
• Yacht Industry News
• Yacht Photos
• Yacht Racing
• Yacht Racing & Regattas
• Yacht Safety Equipment
• Yacht Support Vessels
• Yacht Tenders
• Yacht Videos
• Yachting Associations
• Yachting Awards
• Yachting Business
• Yachts For Charter
• Yachts For Sale

Quick Enquiry

Superyacht news:.

Email Your Yachting News to: news @ charterworld.com

Luxury Yachts At Events

ShowBoats Design Awards 2013 Winners

First renderings of 84m Echo Trimaran Motor Yacht and her 46m Shadow Vessel

84m Echo trimaran yacht to feature watertight sliding door by Newthex

World’s largest trimaran luxury yacht White Rabbit Golf revealed by Echo Yachts

39m luxury yacht EVOLUTION for charter on Australia’s east coast

Charter Special on board 36m luxury yacht CALYPSO I from Italy to Greece

Croatian charter yacht LA PERLA offering 10% discount on exclusive vacations in the Adriatic

Charter a yacht during the Monaco Historic and F1 Grand Prix festivals and soak up the atmosphere from on deck

Westport announce the first hull of their 36m W117 range is nearing completion

Superyacht LAUNCHPAD previously Feadship 1010 delivered

65m Feadship superyacht PROMISE.D delivered

Discover our Top 10 brand new yachts available for charter worldwide this year

Florida charter yacht REAL SUMMERTIME offering 10% discount

Discover summer in New England aboard a luxury charter yacht: Escape to this beautiful northeast corner of the USA

Looking ahead to the 2024 MYBA Charter Show in Genoa

49m sailing yacht ANIMA MARIS is offering discounted rates for the remaining summer weeks in Croatia

Last minute yacht charter deals in the Bahamas

BoatNews.com

White Rabbit, the world's largest motor trimaran

With a length of 84 m, the White Rabbit is the world's largest trimaran. It belongs to the 91-year-old Singaporean billionaire Goh Cheng Liang and belongs to the businessman's private fleet, which consists exclusively of multihulls.

White Rabbit is the largest trimaran in the world. With a length of 84 m and a width of 19.6 m, the multihull has a gross tonnage of 3?000 tons and was built in Australia . It took four years of work to design and build this giant trimaran designed by Sam Sorgiovanni and designed by One2Three Naval Architects. The superyacht built within the Australian shipyard Echo Yachts - the largest builder of custom superyacht, support yacht or expedition yacht type - has many superlatives.

Because if it is the largest trimaran in the world, it is also the largest boat built in Australia and the largest aluminium yacht ever built.

It was delivered at the end of 2018 to its owner, Goh Cheng Liang, a Singaporean billionaire based in Hong Kong who owns the paint manufacturer Wuthelam Holdings, one of the world's largest paint manufacturers. The fortune of the businessman is estimated at 8 billion euros.

The $100 million yacht is built of fiberglass and is expected to accommodate approximately 16 guests in 8 spacious cabins with private bathrooms and 20 crew members. White Rabbit offers the highest standards in terms of luxury cruising and innovation with more than 1?200 m2 of accommodation.

The foredeck is equipped with two relaxation areas, one elevated near the windows and another at the front. A jacuzzi sits on the upper deck and offers a breathtaking view of the sea. Two tenders are hidden in the port and starboard side garages and operated by a crane.

The architects worked on the hull design, choosing a trimaran for the proven seaworthiness, fast speed and fuel economy provided by the three hulls. In terms of propulsion , it receives a diesel-electric engine with 4 diesel engines (2 X Caterpillar C32 and 2 x Caterpillar C18) and two electric motors Kongsberg / STADT and Rolls Royce.

White Rabbit's top speed is 19 knots and the cruise speed is 12.8. Knots, with a fuel consumption of 440 L per hour.

This 84-metre model is not the first model of the billionaire, who owns a whole fleet of multihulls. The old model - also known as White Rabbit - was 61.4 m long.

TRIMARAN SUPER YACHT - The largest in the world

The largest tri-hull in the world - us$100 million  .

At 84m (276ft) the White Rabbit Golf Trimaran Super Yacht  is valued at US$100 million and is the largest tri-hull in the world The Singaporean owner, Goh Cheng Liang,  aged 91,  has owned several yachts all called White Rabbit.    

1989 - White Rabbit Alpha (White Rabbit A)  1995 – White Rabbit Bravo (White Rabbit B)  2001 – White Rabbit Charlie (White Rabbit C)  2006 – White Rabbit Echo (White Rabbit E)  2017 – White Rabbit Golf (White Rabbit G)  And finally, Charley, which, at 46m is a purpose-built shadow vessel to support White Rabbit Golf in all its voyages! 

This inspiring rags-to-riches man was sent to Malaya in his early teens, when World War II broke out, to help his brother-in-law sell fishing nets. After returning to Singapore, he worked in a hardware store for four-and-a-half years. Later, in 1949, war supplies were auctioned off by the British Army, and Goh bought “rotten paint” for cheap. Armed with his paint and a Chinese dictionary on chemicals, he started experimenting by adding solvents and mixing colours, and eventually created his own brand of Pigeon Brand paints. Then, the following year, when the Korean War began and imports were severely restricted, Goh’s business boomed! 

Goh is the founder of the South East Asia paint business and owns 39% shares of Nippon Paint. His net worth is estimated at $8 billion and in 2015 he was reported by Bloomberg to be the richest man in Singapore. Hup Jin, Goh’s son, is the chairman of Nippon Paint. 

Goh Foundation

Goh is also the founder of Wuthelam Holdings which now has interests in the paint business and property development, amongst other things, and his Goh Foundation has made large donations to the National Cancer Centre in Singapore, and several other charitable causes. 

Designed by Sam Sorgiovanni, Goh’s latest trimaran, also known as White Rabbit G (WRG) is the largest tri-hull and largest aluminum superyacht in the world at 84m! She is also the largest superyacht to be built in Australia.   She now sits in her home port at Keppel Bay in Singapore, a beautiful spot overlooking the spectacular structure of the Reflections residential towers on the southern shores. 

When stood beside the WRG, you just cannot grasp the sheer beauty of her. We had to take ‘pano’ shots just to get her all in. After walking the length of the breakwater, you see the breathtaking beauty of the tri-hull head-on. And what a majestic sight, like tunnels to heaven.  The smaller yacht, White Rabbit E (WRE) is 64m but looks tiny when next to the WRG! Unfortunately, it wasn’t in its berth today but even the neighbouring superyachts were completely over-shadowed by the WRG super structure! 

Services Directory

Social media, © 2024 super yachting limited.

The Straits Times

• International
• Print Edition
• news with benefits
• SPH Rewards
• STClassifieds
• Berita Harian
• Hardwarezone
• Shin Min Daily News
• SRX Property
• Tamil Murasu
• The Business Times
• The New Paper
• Lianhe Zaobao
• Advertise with us

Singapore's richest man Goh Cheng Liang: 5 things to know about the reclusive tycoon

SINGAPORE - Chances are, your walls are coated with Nippon paint, but unlike some prominent businessmen in Singapore, Mr Goh Cheng Liang is not quite a household name.

The founder of Nippon Paint South-East Asia Group (Nipsea) has leapfrogged UOB's Wee Cho Yaw, and is now Singapore's richest man with a US$8.2 billion (S$10.8 billion) fortune, Bloomberg reported on Monday.

It is a remarkable rise for a man who once sold fishing nets during World War II.

Here are some key points from his rag-to-riches story:

1. Born in poverty

Mr Goh, born in 1928, spent the first 12 years of his life in a shophouse on River Valley Road, squeezing into a $3-a-month rented room with six others - his parents, three sisters and a brother.

When World War II broke out, his parents sent him to Muar in Malaya. There he helped his brother-in-law sell fishing nets before returning to Singapore in 1943.

2. Fortune from rotten paint

"Mr Goh has a nose for a good deal," Mr Sim Lai Hee, a business partner and friend, once told the Business Times in 1997.

This business acumen was honed over many years.

Upon returning to Singapore, he started a business selling aerated water. It failed, and he went on to work at a hardware store for four-and-a-half years.

In 1949, the British army was auctioning war supplies, and he bought barrels of "rotten paint" from them on the cheap. Armed with a Chinese dictionary on chemicals, he got down to mixing colours and adding solvents and before long, created his own Pigeon Brand paints.

The following year in 1950, the Korean War started, and with imports severely restricted, Mr Goh's paint business boomed.

He was approached to be a distributor for Nippon Paint in 1959, and from the 60s onwards, built up his company to become the largest paintmaker in Asia.

He was also the man behind iconic buildings in Singapore such as Liang Court, which he sold to Pidemco Land in 1999.

His Wuthelam group is now invested in property, electronics, trading among others. His elder son, Hup Jin, 61, runs the business.

3. An old-fashioned manager

In 1991, Mr Goh set up Yenom Holdings to "house" 30-plus old staffers who were displaced by an organisational revamp at Wuthelam Holdings. But it expanded into an array of interests, including property, restaurants, and resorts.

Yenom is "a holding company with a portfolio that consists of companies spanning across industries", according to its website.

In a wide-ranging interview with the Business Times in 1997, Mr Goh said he is better suited to running a private company than a public one.

"My personal philosophy is I never want to go public," he said. "First, I'm not a professional manager. Second, these professional managers who come and join me, I don't know how to handle them, I don't know how to drive them."

4. Collection of luxury vessels

His one indulgence is said to be his luxury yachts and catamarans. His collection included a Feadship yacht named the White Rabbit II, and 61m superyacht the White Rabbit Echo.

"I don't like cinemas, I don't like movies, I don't like songs, I don't like karaoke, I don't like bars. When I was young, I was quite naughty about girls but not so in the last 20 years," he said.

5. Philanthropy

Mr Goh was chosen by Forbes Asia as one of its Heroes of Philanthropy in 2014. His pet cause is medical research. His 20-year-old Goh Foundation gave $50 million to the National Cancer Centre Singapore in March 2014.

Through his foundation, the magnate previously donated $12 million to the centre.

His generosity also extends to his friends.

When a former Japanese business associate developed liver cancer, Mr Goh moved him into his penthouse in River Valley Road, sent him for treatment at a top US hospital, and paid his medical bills.

He also took the man - Mr Masamichi Oka - on a trip to New Zealand in his luxury yacht, and paid for a nurse to look after the ailing man on the boat.

Sources: Business Times, Straits Times, Bloomberg

Join ST's WhatsApp Channel and get the latest news and must-reads.

• ST explainers

Read 3 articles and stand to win rewards

Spin the wheel now

• World Billionaires
• Financial Advice
• Chart Analysis
• Finance Basics

Search for an article

From selling aerated water to building an empire: goh cheng liang’s journey.

Published on

advertisement

Who is goh cheng liang.

Goh Cheng Liang is a Singaporean billionaire businessman and philanthropist. He founded Wuthelam Group, a multinational company specializing in manufacturing and distributing paint and coatings. Goh is one of the richest people in Southeast Asia, with an estimated net worth of over US$10 billion.

Mr Goh Cheng Liang, born in 1927, resided in a rented room in a shophouse on River Valley Road for 12 years, sharing the space with his parents, three sisters, and a brother. During the outbreak of World War II, he was temporarily relocated to Muar, Malaya, to assist his brother-in-law in selling fishing nets. In 1943, he returned to Singapore. According to a 1997 interview with the Business Times, Goh Cheng Liang had a reputation for exceptional business acumen, honed over the years. After returning to Singapore, he attempted to establish a business in the aerated water industry, which failed. Subsequently, he spent four and a half years at a hardware store.

In 1949, Mr Goh Cheng Liang acquired a quantity of paint in barrels from a British army auction at a cost-effective price. He utilized a Chinese dictionary on chemicals to effectively blend colours and establish his brand of paint, known as the Pigeon Brand paints. The onset of the Korean War in 1950 resulted in import restrictions, which favoured the growth of his paint business. In 1959, he was appointed as a distributor for Nippon Paint, and through his endeavours, he successfully expanded his company to become the leading paint manufacturer in the Asian region. He was also responsible for constructing several iconic buildings in Singapore, including Liang Court, which he disposed of in 1999. Currently, his Wuthelam group is engaged in various fields, including property, electronics, and trading. The group’s operations are directed by his elder son, Hup Jin.

How did Goh Cheng Liang make money?

Goh Cheng Liang made his fortune through his company, Wuthelam Group, which he founded in 1958. The company specializes in manufacturing and distributing paint and coatings and has since expanded into other industries, such as property development and investment. Over the years, Goh’s business savvy and entrepreneurial spirit has helped him build a highly successful and diversified business empire, leading to his immense wealth.

Was Goh Cheng Liang poor?

It is not publicly known whether Goh Cheng Liang was poor before he became wealthy. However, it is widely known that he came from humble beginnings and started his business, Wuthelam Group, from scratch. Over time, he grew the company into one of the world’s largest and most successful manufacturers, eventually becoming one of the richest people in Southeast Asia.

Personal life

There is limited publicly available information on Goh Cheng Liang’s personal life. He is known for being a private individual and keeping a low profile. He founded the Goh Foundation, which has largely donated to several charitable causes. Goh has a son, Goh Hup Jin, who has been the chairman of Nippon Paint since March 2018 and runs their privately held joint venture, Nipsea. Beyond these few details, not much is known about Goh Cheng Liang’s personal life, family, or other aspects of his background.

Perspective on Luxury Lifestyle

According to reports, Goh Cheng Liang’s sole extravagance lies in his collection of luxury yachts and catamarans, which includes the Feadship yacht “White Rabbit II” and the 61-meter superyacht “White Rabbit Echo.” In a previous statement, Goh Cheng Liang expressed that he does not partake in activities such as cinema-going, watching movies, listening to music, singing karaoke, or visiting bars. He added that although he was known for mischievous behaviour regarding women during his youth, he has refrained from such actions in the past 20 years.

Philanthropy

Goh was honoured by Forbes Asia as one of its “Heroes of Philanthropy” in 2014. His primary philanthropic focus is medical research. His 20-year-old Goh Foundation has significantly contributed to this cause, including a $50 million donation to the National Cancer Centre Singapore in 2014. Additionally, Goh Cheng Liang’s philanthropic endeavors also extend to his network, as demonstrated by his provision of medical support and care for a former Japanese business associate diagnosed with liver cancer. He housed the individual in his River Valley Road penthouse and arranged for treatment at a leading hospital in the United States, and covered all related medical expenses. Furthermore, he took the individual on a trip to New Zealand aboard his luxury yacht and provided a nurse to attend to the individual’s needs during the voyage.

Final thoughts

Goh Cheng Liang is a successful Singaporean billionaire businessman and philanthropist. He is the founder of Wuthelam Group, which has become a multinational company specializing in manufacturing and distributing paint and coatings. Despite his immense wealth, Goh is known for his low profile and focus on philanthropy, particularly in medical research. Through his efforts, Forbes Asia has recognized Goh as one of its “Heroes of Philanthropy” and has made a significant impact on the world through his business success and charitable donations. Despite limited information on his personal life, Goh inspires those seeking to achieve success and make a difference in the world.

Becoming a billionaire is not an unattainable dream for anyone. It requires hard work, determination, and a willingness to take calculated risks. While some people may have a head start due to their financial background or connections, anyone can achieve wealth through smart investment decisions and a commitment to success. However, it is important to remember that wealth should not be the sole purpose in life, and it is important to balance material success with meaningful relationships, personal growth, and giving back to society.

• Goh Cheng Liang's Journey

More on Hajarkitta

Savitri jindal’s billion-dollar inheritance and legacy, adapting to the new normal: thriving in a changing world, increasing hostility: an insight into people’s behavior this year., meditate on your failures., more like this, radhakishan damani: india’s retail king and billionaire investor, the world’s most luxurious yachts and their billionaire owners.

Our website offers a wide range of news and analysis, including breaking news and in-depth analysis of the stock market, expert insights and commentary on the latest trends in finance, personal finance advice and strategies, coverage of major economic events and indicators, interviews with top industry leaders, real-time updates on market trends and movements, coverage of emerging industries and investment opportunities, in-depth profiles of companies and industries making headlines, access to exclusive research and analysis from our team of experts, and a comprehensive archive of past articles and reports for reference and research purposes.

Contact us: [email protected]

POPULAR POST

Building better culture: create and support what is authentic, lessons from the stock market, changpeng zhao steps down: the shockwaves through the crypto empire.

© Powered by Hajarkitta.com

To disable ad blocker on this site:

• Right click on the ad blocker extension icon at the top right corner of your browser
• From the menu choose "Disable on this site" or "Pause on this site"
• Refresh the page if not automatically refreshed

You are using an outdated browser. Please upgrade your browser to improve your experience.

S$16.7 billion deal between Nippon Paint and Goh Cheng Liang Wuthelam Holdings is biggest for Asia 2020

Singapore billionaire Goh Cheng Liang just made a deal with Japan’s Nippon Paint, reportedly one of the biggest transactions in Asia for 2020, looking set to become the dominant paints and coatings company in Asia

Billionaire tycoon Goh Cheng Liang, one of Singapore’s biggest yacht owners, has just struck a S$16.7 billion deal with Nippon Paint Holdings, the world’s fourth largest paint manufacturer. The deal between Nippon and Goh’s Wuthelam Holdings looks set to increase Goh’s stake in Nippon Paint holdings rise from 39% currently to 58.7%.

Born in 1928 to a poor family, he grew up with three sisters and a brother in a one-room flat. Uneducated, he sold fishing nets in Muar, Johor, before working as an apprentice at Tan Chong Huat hardware store during the Japanese occupation. After World War II, the young Goh saw an opportunity as the British were auctioning off surplus stocks, and he decided to buy all the barrels of expired paint at dirt cheap prices.

Goh started mixing solvents and chemicals to make his own brand of paints and thanks to import restrictions resulting from the Korean War, he struck liquid gold selling his first barrel of paint, setting him up to become the future paint tycoon. Setting up his first paint shop in 1955, he was ready to capitalise when Japanese Nippon Paint established a paint manufacturing facility in Singapore in 1962. Naturally, Goh became the Osaka-based paint maker’s distributor. As the founder of Nippon Paint (Singapore), he held a 60% stake in a joint venture called Nipsea Management Group.

Mr Goh’s fortune grew with Singapore, catalysed by the Republic’s rules which require buildings to be repainted every five years. Mr Goh’s stake is held through his Singapore-based investment company, Wuthelam Holdings. and Nipsea currently operates in over 15 countries outside of Japan with some 15,000 employees and factories in 30 locations, with Wuthelam buying majority stakes in Nippon Paint, Goh Cheng Liang will build the largest paints and coatings company in Asia. Nippon Paint will also be taking over Wuthelam’s Indonesian business for S$2.7 billion.

Through his grand-daughter, the Goh family owns a Good Class Bungalow in coveted Queen Astrid Park district

The tycoon has business interests in the hospitality industry, specialty packaging, logistics, marinas, golf courses, food manufacturing and even mining in China. For a time, the premier Mt. Elizabeth Hospital and Liang Court shopping mall were his landmarks but Goh derives the majority of his fortunes from a majority stake in Nippon Paint holdings. The deal between Nippon and Goh’s Wuthelam Holdings is reportedly one of the biggest transactions in Asia for 2020,

To date, the Goh family’s total net worth has reportedly jumped from US$9.5 billion in 2019 to US$14.8 billion in 2020. The growth is attributed to Nippon Paint’s expansion in 2019, when it acquired DuluxGroup, Australia’s largest paint manufacturer, for US$2.7 billion and Turkey’s Betek Boya for US$247 million. Although a low profile businessman, Mr. Goh has a collection of luxury boats, including the Australian-built 200-foot superyacht White Rabbit “Echo”.

RECOMMENDED FOR YOU

Tatler Asia

Goh Cheng Liang

Founder, Nippon Paint Southeast Asia Group

Owner of Nippon Paint's regional franchise, self-made billionaire and philanthropist

Goh Cheng Liang’s business partnership with now-ubiquitous coatings specialist Nippon Paint began in the late 1950s, when the Japanese brand approached him to become its main Singapore distributor. Goh signed up with a 60-40 holding, in a joint venture named Nippon Paint Southeast Asia Group, or Nipsea. Under Goh’s astute leadership and diligence, the firm rose to become the largest paint maker in Asia. In the late 1970s, Goh grew his own Wuthelam Holdings group, investing in property, electronics, logistics, manufacturing and trading. In late 2020, Wuthelam struck a US$12 billion deal with Nippon Paint, allowing it to buy out both companies’ joint ventures in Singapore, Malaysia, Thailand, India, China and South Korea, and take over Wuthelam's wholly-owned Indonesian business. In turn, Wuthelam would raise its stake in the Tokyo-listed company from 39.6 per cent to almost 60 per cent. Goh is also a philanthropist and donated SG$50 million to the National Cancer Centre Singapore for medical research in 2014.

Impacted Industries

Retail & eCommerce

Manufacturing & Energy

Recognitions

Asia's Most Influential SG

Did You Know?

In 1949, when the British army was auctioning war supplies, Goh Cheng Liang acquired barrels of “rotten paint” from them for a bargain. Aided by a Chinese dictionary on chemicals, he started mixing colours and adding solvents, and soon created his own Pigeon Brand paints.

Social Media

Featured Articles

How Asia's Billionaires are Using Their Wealth to Change the World for the Better

• Perspectives
• Product Reviews
• Shopping Finds
• This vs That
• Singaporeans Score
• Property News
• New Launches
• Small Space Living
• Get This Look
• Featured Homes
• Supplier Directory
• Maintenance
• Housing Market

Nippon Paint Magnate Goh Cheng Liang Owns A $93M GCB on Garlick Avenue & Super Yachts Docked At Marina Keppel Bay

The Goh family doesn’t just own one GCB, he also owns another in Queen Astrid Park and more than just a handful of super yachts.

Think about household paint brands, and Nippon Paint is sure to be one of the first to come to mind. Perhaps best remembered for their memorable ads featuring a paint-wielding sumo wrestler , Nippon Paint is actually a well-established household name having started in Singapore all the way back in 1955 by Singaporean billionaire Goh Cheng Liang. 66 years on, the latter is estimated by Forbes to have a net worth of around $13 billion as of 2022.

So what would one do with over $13 billion to his name? One common trait amongst the rich and affluent here in Singapore is to snap up properties. And not just any property, but Good Class Bungalows (GCBs) in particular. This leads us to Goh Cheng Liang; not only does he own a $93M GCB, but also a number of superyachts docked at Marina Keppel Bay.

Where is ​​Goh Cheng Liang’s $93M Good Class Bungalow?

According to reports, Goh Cheng Liang and his family bought the bungalow sometime back in 2020. The house sits on 101,550sqft of freehold land, which is pretty formidable – about the size of one and a half football fields! From what we know, the GCB that Mr Goh bought was previously owned by a family who ran the Thye Hong Group, best known for making beloved confectionery snacks like Marie biscuits and Torch sweets.

The GCB sits along Garlick Avenue which, curiously enough, isn’t anywhere near any of the other food-named roads like Lorong Lew Lian or Mulberry Avenue. The road is actually named after Dr George Herbert Garlick, who was the Medical Director of the Singapore Anti-Tuberculosis Association from 1948-1958.

If you’re wondering where Garlick Avenue is, it sits in the vicinity of Bukit Timah, part of the highly coveted District 10 region of Singapore. The stretch of road is somewhat in the middle of the ‘rich’ enclave of places like Sixth Avenue, Namly Avenue, and Old Holland Road, famous for its many multi-million dollar GCBs and thus earning the term Good Class Bungalow Areas (GCBAs). Taking a walk down these roads is sure to give you major house envy.

Before it was sold to Mr Goh, the property had allegedly garnered quite a significant amount of interest from various parties. One of its main unique selling points was its large land size, which opened up several possibilities about its eventual use. For instance, the owner could subdivide the plot to house an additional 5 smaller GCBs, or just build one giant mansion with sprawling gardens and frontage.

Additional GCB at Queen Astrid Park

What may or may not be surprising to you is that the Garlick Avenue GCB is not the only GCB that Mr Goh and his family owns.

About 5 years ago, it was reported that Mr Goh’s granddaughter had bought a GCB at Queen Astrid Park, for about $44.5M or $1,271 psf. In case you’re unfamiliar, Queen Astrid Park is also another GCB enclave in Singapore, home to the GCB which set the record for having a $200k/month rental cost , and TikTok CEO Chew Shou Zi’s $86M home .

The property sits on the junction between Queen Astrid Park and Coronation Road West, and as you can see from the street view image above, is a quaint 1-storey bungalow which comes with a long driveway and a giant garden frontage. 

You can also tell that privacy is one of the main concerns for the family; apart from the front of the site where this street view image was taken, the rest of the perimeter is covered up with plants and shrubbery to deter prying eyes from constantly kaypoh -ing and trying to take a peek inside.

Owner of Super Yacht White Rabbit

When it comes to flexing your wealth, luxurious and exquisite properties may be a thing, but we’d argue that other asset classes are a whole new ball game altogether. This brings us to the fleet of superyachts that Mr Goh owns.

According to Motor Yachting, Mr Goh owns an absolutely stunning 276ft super yacht called the White Rabbit , valued at US$100M and is the largest tri-hull vessel in the world. What’s even more breathtaking is that this is not the only marine vessel he owns – apparently, he commands a fleet of over 6 yachts all called the White Rabbit , which he purchased throughout the years between 1989 and 2017.

If you head down to the marina at Keppel Bay, you should be able to catch the vessel in all of its grandeur, eclipsing other smaller vessels berthed in the area.

Nippon paint magnate Goh Cheng Liang’s legacy

One of the things that we’ve observed about Goh Cheng Liang is that he has been, for the large part of his life, a very private person. He doesn’t take part in too many interviews, and also doesn’t flaunt or show off his wealth pompously which can be rather tempting to do so, especially if you have over $13 billion to your name.

With the GCB market thriving and bustling with activity from some notable purchases in the past year or so, it’s apparent that the ultra-wealthy have been making moves to sink their roots here in Singapore with property purchases. 

While the reality is that the majority of us won’t ever be able to attain that level of wealth in our lifetimes, it certainly doesn’t hurt to be wowed and amazed by all the luxury assets being snapped up, and marvel at what money can get you here in Singapore!

@uchify.sg He do be painting his way into the real estate market ?? #sgproperty #sgnews #sghome #luxuryhomes #sghomes #realestate #housetour #tiktoksg #fyp ♬ Sugar Daddy – Qveen Herby

Check out some of our other articles covering notable GCB purchases here in Singapore:

• Alibaba Co-founder James Sheng Has A $50M GCB, One Of Six Along Leedon Park
• HAO Mart CEO Has An Exquisite GCB That Resembles A Spacecraft, Shaped Like An ‘8’ For Prosperity
• Hai Di Lao Family Owns 2 GCBs On Gallop Road, Comes From All Your Hotpot Money

Cover image adapted from: Google Maps, Motor Yachting

Get more stories like this.

Drop us your email so you won't miss the latest news.

This “Yellow Ribbon” Company Offers Painting & Furniture Removal Services To Help Rehabilitate Ex-Offenders

HDB Resale Prices Set To Drop In Final Quarter Of 2022 Thanks To The Recent Cooling Measures

Why You Should Look At Choa Chu Kang For August 2022 HDB BTO, Especially If You Want A 5-Room

• All products

INFORMATION

• Contact / Advertise with Us
• Data Protection Notice
• Privacy Policy
• Terms & Conditions
• Uchify x HomesToLife

JOIN US HERE

•   Instagram
•   Facebook
•   Youtube
•   TikTok
•   Telegram

Join our newsletter for more news.

Advertisement

Supported by

U.S. Eyes $156 Million Yacht in Dubai Linked to a Russian Oligarch

The U.S. Justice Department is taking steps to seize the Madame Gu, a 324-foot luxury yacht, but it will be diplomatically thorny.

• Share full article

By Kate Kelly ,  Michael Forsythe and Julian E. Barnes

DUBAI, United Arab Emirates — On a clear morning in late October, the jewel-blue hull of the Madame Gu, one of the world’s most luxurious superyachts, gleamed, its aluminum rails shimmering in the sun. Workers on the pier said they had recently seen people painting, cleaning and generally keeping the ship with its helipad and six guest staterooms in pristine condition.

In past years, such a scene would not have been noteworthy. Many superyachts come and go from Dubai’s Mina Rashid Marina, best known as the home of the Queen Elizabeth 2, the trans-Atlantic ocean liner-turned-hotel that dominates the waterfront here.

But Russia’s war in Ukraine has turned an otherwise routine tableau into a diplomatic battleground between the United States and the United Arab Emirates, an important American ally that has established itself as a safe haven for Russian money and assets out of the reach of U.S. sanctions.

The $156 million Madame Gu epitomizes the problem. In June, the United States designated the vessel, which is linked to Andrei Skoch, a Russian steel magnate and lawmaker under sanctions, as blocked property. That means the yacht cannot use American companies for its upkeep, employ U.S. citizens or even use the dollar. The Justice Department is now taking steps to seize the Madame Gu, according to people with knowledge of the plan.

But the United States can’t seize property in a sovereign nation without permission from its government. The Emirates, which has taken a friendlier position toward Moscow, is balking at cooperating with the United States to pursue oligarchs, American officials said. The Kremlin is also using oligarch-controlled companies in the Emirates to acquire war supplies that the West is trying to keep out of Russia’s reach, according to a Western official involved in the sanctions effort against Russia.

Emirati officials did not comment specifically on the Madame Gu but said in a statement that they took their role “protecting the integrity of the global financial system extremely seriously.”

A closer examination of Russian assets in the Emirates shows that even before the war in Ukraine, Dubai had become a playground for Russians with links to President Vladimir V. Putin. At least 38 businessmen or officials with ties to the Russian president own homes in Dubai that are collectively valued at more than $314 million, according to the Center for Advanced Defense Studies. Five of those owners are under U.S. sanctions.

Since the Russian invasion, Dubai has established itself as a safe haven for Russian yachts and aircraft unable to sail or fly elsewhere. After Russian jets were barred from the European Union in late February, the Emirates became the destination for 14 percent of all private flights leaving Russia, up from 3 percent before the invasion.

“It’s frustrating when you see huge assets that are sitting out there and it appears that the country is not cooperating,” said Senator Sheldon Whitehouse, Democrat of Rhode Island, referring to the Emirates. “It would be nice if there were more common cause against Putin while he’s busy shelling hospitals and schools.”

Mr. Whitehouse is sponsoring legislation that would use proceeds of the sales of seized Russian assets to help rebuild Ukraine. Senior officials at the Treasury and State Departments have also complained publicly about the situation.

U.S. officials view the presence of superyachts in places like Dubai and Bodrum, Turkey , as a symptom of wider Russian circumvention of sanctions and continued access to financial markets. Yachts have also come to symbolize the decadence of Russia’s oligarchs, especially at a time when Russian soldiers are scrounging for body armor and sleeping bags on the front lines.

Pursuing the Madame Gu

Built by the Dutch firm Feadship and put into service in 2013, the Madame Gu has a large helicopter pad on its forecastle with a hangar underneath that can double as a squash court when the chopper isn’t on board. The vessel has berthing for 36 crew members, according to one trade magazine.

Mr. Skoch, a member of Russia’s Parliament who is linked to assets worth billions of dollars, according to U.S. court filings, has had sanctions imposed on him twice by the United States, first in 2018 and then after Russia’s invasion this year. The Treasury Department has cited his “longstanding ties to Russian organized criminal groups.”

Mr. Skoch could not be reached and did not respond to messages left at his office at Parliament.

In an interview in October about the government’s broader efforts to go after the assets of oligarchs, Andrew Adams, a federal prosecutor leading the Department of Justice’s KleptoCapture task force, declined to discuss the Madame Gu. But the United States, he said, is warning companies they must not do business with individuals and assets under sanctions. The government, he said, will pursue oligarch-owned assets whose sale could be used to aid Ukraine.

“Where we know there is an asset that can potentially provide significant remuneration for Ukraine, that obviously is an attractive case to pursue,” he said.

U.S. officials are likely to use the case they made for impounding a $90 million Airbus business jet linked to Mr. Skoch in August as a blueprint for seizing the Madame Gu, said people familiar with the plan.

That means investigators will aim to show that the owner of the vessel, or the companies that have been providing services to it, have intersected with the U.S. financial system.

“If there are U.S. dollars or a U.S. nexus associated with supporting this vessel, massive enforcement actions could take place,” said Adam M. Smith, a former official overseeing sanctions at the Treasury Department. Companies that provide support to entities under sanctions could potentially face their own sanctions, said Mr. Smith, who is now a lawyer at Gibson Dunn in Washington.

This year the United States has carried out two high-profile seizures of yachts tied to Russians under sanctions, working with cooperative governments. The $300 million Amadea was taken in Fiji in May and sailed to San Diego under an American flag. In April, the United States worked with Spanish police to seize the $90 million Tango.

A Problematic Partner

Diplomatically, the Emirates has been reluctant to take a clear anti-Russian position when it comes to the war in Ukraine. Sheikh Mohammed bin Zayed Al Nahyan, president of the United Arab Emirates, recently met with Mr. Putin in St. Petersburg, and the Emirati foreign minister recently hosted his Russian counterpart. Yet Sheikh Mohammed has also talked with Volodymyr Zelensky, the president of Ukraine, more than once and recently gave the country $100 million in humanitarian aid.

The United States has publicly expressed dismay over the mixed messages.

During a visit to Dubai in June, Wally Adeyemo, the U.S. deputy treasury secretary, warned of the need for vigilance and proactive steps in combating Russian evasion. That same month Barbara Leaf, the State Department’s under secretary for Near East Affairs, said at a congressional hearing that regarding the Emirates, she was “not happy at all with the record at this point” on sanctions enforcement. Mr. Adeyemo reiterated his concerns in a meeting with Emirati officials in October in Washington.

A senior State Department official said in a statement to The New York Times that the agency continues “to reinforce the importance of conducting enhanced due diligence to prevent sanctions evasion and investigating allegations of such activity” to the Emirates.

The Treasury Department declined to comment on the Madame Gu or the relationship with the Emirates.

Last month, the Treasury Department announced it had placed sanctions on an Emirates-based company, Constellation Advisors Ltd., that the American government said was operating on behalf of a nephew of another Russian oligarch, Suleiman Kerimov. Mr. Kerimov, according to American court documents, was the owner of the Amadea superyacht .

American officials are also worried the Russian government is using the Emirates to acquire military supplies for its war in Ukraine. On Nov. 15, the Treasury Department imposed sanctions on two Emirates-based transportation firms that had worked with another Iranian firm under sanctions, which in turn had helped transport drones and personnel from Iran to Russia.

Moored in Dubai

Based on a recent visit to Dubai’s Mina Rashid Marina , where the Madame Gu is moored, it is clear that international companies are playing a critical role in its care.

The Emirates-based company DP World, through its subsidiary P&O Marinas , oversees the pier where the Madame Gu is moored. Employees from another DP World subsidiary , World Security, staff the small guard box at the entrance. That makes DP World, which is owned by Dubai’s royal family, potentially vulnerable to American sanctions.

DP World “fully complies with all applicable local and national laws and intends to continue doing the same regarding the Madame Gu and other vessels utilizing our services,” said Adal Mirza, a spokesman for the company. He added that DP World had not yet heard from the United States or other countries that had placed Mr. Skoch under sanctions, including Britain and the European Union.

A generator set that dock workers said in late October was powering the Madame Gu — two container-like structures near its stern — bore the distinctive orange logo of Aggreko , a British company. The generator set was connected to the superyacht by thick cords; one of the containers was emitting grayish exhaust.

At the Mina Rashid Marina, soon after Aggreko was contacted by The Times, workers removed the generator. “Having identified that the generator was being used to power a vessel that is allegedly connected to a sanctioned person, we immediately terminated this rental and have since recovered the generator,” the company said in a statement.

Mr. Mirza, the DP World spokesman, said the Aggreko generator had been replaced with one from a local supplier.

P&O Marinas arranged for the diesel generator to provide power for the Madame Gu because that part of the pier, a holding area, has no shore-supplied electric power, said a port official in Dubai, who spoke on the condition of anonymity because he is not authorized to talk to the press.

“At the end of the day, if the U.A.E. hasn’t imposed sanctions, it’s not really their job to enforce other countries’ laws within their borders,” said Nabeel Yousef, a Washington-based partner at the law firm Freshfields, where he runs the sanctions practice. Nevertheless, “companies should not take comfort in the fact that their country has not imposed sanctions,” he added, “because even the smallest connection to the U.S. can lead to U.S. penalties.”

There has also been a notable absence onboard the Madame Gu in recent weeks: a flag. Unlike other ships moored nearby, including the Quantum Blue, a superyacht linked to the billionaire Sergei Galitsky, the Madame Gu appears to be stateless, apparently having been deflagged by the Cayman Islands.

Cayman Islands officials didn’t respond to an emailed inquiry about the ship’s status.

If DP World were to face fallout from U.S. sanctions enforcers, it wouldn’t be the first time the company has been the focus of attention in Washington. In 2006, DP World was seeking to manage some terminal operations at six American ports but dropped out of the deal after a bipartisan uproar in Congress.

Anton Troianovski contributed reporting from Turin, Italy, and Oleg Matsnev from Berlin.

Kate Kelly covers money, influence, and policy as a correspondent in the Washington bureau of the Times. Before that, she spent twenty years covering Wall Street deals, key players and their intersection with politics. She is the author of three books, including "The Education of Brett Kavanaugh." More about Kate Kelly

Michael Forsythe is a reporter on the investigations team. He was previously a correspondent in Hong Kong, covering the intersection of money and politics in China. He has also worked at Bloomberg News and is a United States Navy veteran. More about Michael Forsythe

Julian E. Barnes is a national security reporter based in Washington, covering the intelligence agencies. Before joining The Times in 2018, he wrote about security matters for The Wall Street Journal. More about Julian E. Barnes

Our Coverage of the War in Ukraine

News and Analysis

Russian missiles streaked into Kyiv  in the biggest assault on the Ukrainian capital in weeks, injuring several people and damaging several buildings.

Jake Sullivan, President Biden’s top national security official, made a secret trip to Kyiv to meet with President Volodymyr Zelensky and reaffirm the United States’ unwavering commitment to Ukraine.

Under pressure to come up with billions of dollars to support Ukraine’s military, the E.U. said that it had devised a legal way to use frozen Russian assets  to help arm Ukraine.

Symbolism or Strategy?: Ukrainians say that defending places with little strategic value is worth the cost in casualties and weapons , because the attacking Russians pay an even higher price. American officials aren’t so sure.

Elaborate Tales: As the Ukraine war grinds on, the Kremlin has created increasingly complex fabrications online  to discredit Ukraine’s leader, Volodymyr Zelensky, and undermine the country’s support in the West.

Targeting Russia’s Oil Industry: With its army short of ammunition and troops to break the deadlock on the battlefield, Kyiv has increasingly taken the fight beyond the Ukrainian border, attacking oil infrastructure deep in Russian territory .

How We Verify Our Reporting

Our team of visual journalists analyzes satellite images, photographs , videos and radio transmissions  to independently confirm troop movements and other details.

We monitor and authenticate reports on social media, corroborating these with eyewitness accounts and interviews. Read more about our reporting efforts .

Maps and Navigation

Getting around and planning your itinerary in Moscow

Bicycle and Scooter Rental

How to Rent Two-Wheeled Transport

You may be interested