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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

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The best yacht charters in Singapore

Take in some sun, sea and sand onboard these best yacht charters in Singapore

Ocean lovers may only be able to explore Singapore's waters for now, but who says you're only limited to the beaches at Sentosa or East Coast Park? It's time to go forth and explore unchartered territory. Gather a few of your closest friends and head on to Singapore's offshore islands  – on private yachts. But hey, you don't have to be ballin' to go on a sunset sail. There are (relatively) affordable yacht charters you can hit up to make your wildest millionaire dreams come true.

RECOMMENDED: Interesting stories behind Singapore's oldest hotels and beach visitors to make an online booking before visiting Sentosa

Been there, done that? Think again, my friend.

Book a yacht in under 10 minutes with Yachtly, a private yacht rental platform in Singapore that makes renting a cruise less daunting. The service is almost like Airbnb for yachts, with more than 30 boats available with rentals starting from $500. Grab a catamaran for an intimate gathering or a bigger cruiser with spacious cabins and other facilities for a special occasion. 

yachtly.com.sg

One15 Luxury Yachting

One of the bigger yacht charters in Singapore, ONE15 Luxury Yachting has an extensive fleet of more than 40 yachts docked at its marina and yacht club at Sentosa Cove. Whether you're looking for a classic fishing boat or luxurious superyacht, you should be able to find what you need. 

Booking a vessel has been made a breeze too. Simply choose a date, select the number of passengers on board, click ‘Find a yacht’ and the most suitable yachts will automatically be recommended to you.

one15marina.com

Epic Ocean Yacht Charter

Want everything sorted for you? With Epic Ocean Yacht Charter, all you have to do is show up. The company is offering a charter promotion from September 15 to November 30 starting for $699 for four hours. Cruise to Lazarus or St. John Island and be treated to front-seat skyline views of Marina Bay Sands. Paddleboards, kayaks, fishing gear and other water toys are included – and you can even have a BBQ on board set up by the crew.

epic-ocean.com

Eaglewings Yacht Charters

With Eaglewings Yacht Charters, it's like you're having a floating staycation. The luxurious vessels have all the makings of a swanky hotel, including well-designed cabins with ensuite bathrooms, jacuzzi, spacious flybridge, watersports and even a karaoke system and mahjong table. Rates start from $1,819 for four hours on a 62-feet catamaran. 

eaglewingsyachtcharters.com.sg

White Sails

Sail in style with White Sails, one of the more affordable yacht charter companies in Singapore. Its superstar vessel is Sunrise, a lagoon sailing catamaran with three bedrooms, a trampoline-style open-deck space and more. Set sail to the southern islands and relax by the untouched beaches or enjoy fireworks at Sentosa during a sunset cruise. Rates start from $599 for five people during non-peak times. 

whitesails.com.sg

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Hybrid-electric Pilot Boat Delivered in Singapore

Published on 9 april 2021 -  1434 -.

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yacht rental singapore

Adventure awaits.

Explore the unique wonder of Singapore’s southern islands in the comfort of a private yacht. Sun, sand, and sea awaits, with exciting activities for all ages.

Kayak in the lagoon, explore the islands on foot, grill and chill, or simply splash around in the water on those cheeky pink flamingoes. On the way back, catch the unparalleled views of the sunset and of the city landscape.

Our goal is to make the magic of a bespoke, curated yachting experience accessible to everyone in Singapore. We specialise in private, fully crewed charters conducted to the highest standards. Timely, professional, and striving to exceed expectations, we want our guests to come home with smiles on their faces, salt in their hair, and memories that will last a lifetime.

Yacht rental singapore

Escape the urban jungle with a Singapore yacht charter. Depart from popular marinas and explore our tropical islands. Swim, snorkel, kayak and relax during a weekend island getaway. Surprise your loved one with a romantic sunset cruise or pop the question on a private charter. Celebrate birthdays, engagements and special events with stunning city skyline backdrops. Let our experienced crew handle everything while you savor precious moments with family and friends. A Singapore yacht charter opens up endless possibilities for fun and adventure right on our doorstep.

yacht rental singapore Testimonials

Real reviews from happy seafriends customers.

5.0 / 5.0  —> 141 Google reviews

The experience was awesome!

Some of the #Activistebrands team had a wonderful day out with the ever gracious Captain Gerald and Elijah. They made the trip to Lazarus Island informative, entertaining and fun - and did it with gusto and care. It was both relaxing and exhilarating experience and we would highly recommend Sea Friends and this marvellous crew to any group looking for a good day out!

Absolutely wonderful yacht trip to Lazarus Island with Gerald and Terry!It was the first time for my family, and everyone was saying how awesome the entire experience was after we said goodbye. The photos and videos are icing on the cake, and we’re so glad we have those memories to look back on.Booking and liaising with Sea Friends was also quick and smooth. We’ll definitely reach out to you again for our next yacht trip

Our yacht adventure was amazing.

My friends and I used Sea Friends to celebrate a 30th birthday in our group and we had the perfect time. From the first time I messaged them on Whatsapp they responded quickly, were flexible with lots of different options, and answered every question we had. On the day of the charter, our captains Elijah and Dust were super patient, kind, friendly, and super helpful. We enjoyed everything about our trip and really appreciate all of the team at Sea Friends for making it a great experience. Highly recommend!

Creating magical island memories through bespoke yacht charters for all.

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Trip duration, multiple days (less than 1 week), weekly trip show boats that have weekly prices. most weekly boats outside of the us are available only saturday to saturday., boat length: 5ft -, manufacturer, boat build year: -, weekly trip, price: $ - $, 6 luxury yacht charters in singapore.

In addition to the best offers we have for boat and yacht charters in Singapore, see also options available for rent in these nearby locations:

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Rent a Luxury Yacht Rental in Singapore with Sailo!

Ahoy, boating enthusiasts! Singapore, the dazzling city-state, is not just about skyscrapers and shopping malls. It's also a haven for those who have a passion for the sea. With its strategic location nestled between the Pacific and Indian Oceans, Singapore offers a unique boating experience that's hard to match. Whether you're a seasoned sailor or a newbie looking to dip your toes into the world of boating, Singapore boat rentals are your ticket to an unforgettable maritime adventure. Sailo is here to make that dream a reality. With us, you can easily rent a boat in Singapore and embark on a journey through its serene waters, exploring hidden gems along its coastline.

Our premium selection of private boat rentals in Singapore

When it comes to boat rentals in Singapore, Sailo boasts an impressive inventory that caters to every boating enthusiast's needs. From sleek speedboats to luxurious yacht charters in Singapore, our collection is diverse and meticulously maintained. For those who crave the opulence of a private cruise, our Singapore yacht rentals are the epitome of luxury. Picture this: you, your loved ones, and the vast ocean, with the iconic Singapore skyline as your backdrop. If you're more of a hands-on sailor, we also offer boats that you can captain yourself, giving you the freedom to chart your own course. Whatever your preference, Sailo ensures that you get the best boat charters in Singapore, tailored to your desires.

How to find a boat rental in Singapore

Finding the perfect boat to rent in Singapore might seem daunting, but with Sailo, it's a breeze. Start by visiting our user-friendly platform, where you can browse through our extensive list of Singapore boat charters. Use the filters to narrow down your choices based on size, type, and amenities. If you're unsure about what you want, our dedicated team is always on hand to guide you. They're well-versed in the intricacies of boat charters in Singapore and can provide recommendations based on your requirements. Once you've made your selection, the booking process is straightforward. In no time, you'll be ready to hire a boat in Singapore and set sail on your chosen vessel.

How much does it cost to charter a yacht in Singapore for a day?

The cost of chartering a yacht in Singapore varies based on several factors, including the type of yacht, its size, and the duration of the rental. On average, you can expect to pay anywhere from a few hundred to several thousand dollars for a day's charter. Luxury yacht charters in Singapore, equipped with top-notch amenities and services, will naturally come with a higher price tag. However, if you're looking for a more budget-friendly option, there are plenty of boats available that offer a fantastic experience without breaking the bank. At Sailo, we believe in transparency, so all our prices are upfront with no hidden charges. Whether you want to rent a yacht in Singapore for a special occasion or just a day out on the water, we have options to suit every budget.

Can I rent a yacht charter in Singapore with a captain?

Absolutely! For those who want to sit back, relax, and enjoy the ride, chartering a yacht with a captain in Singapore is the way to go. There are numerous benefits to this option. Firstly, you don't need to worry about navigating the waters or handling the boat. Our skilled captains are well-acquainted with Singapore's maritime routes and can take you to the best spots, ensuring a smooth and safe journey. Additionally, with a captain at the helm, you can focus on making memories with your loved ones, be it a romantic sunset cruise or a fun-filled day with family and friends. Private yacht charters in Singapore with a skipper also offer a touch of luxury, as many come with a crew that caters to your every need. So, if you're looking to elevate your boating experience, hiring a boat in Singapore with a captain is a choice you won't regret.

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On The Seas With Yacht Broker David Seal

Arguably, David Seal is the world’s most well-known yacht broker. A team member with Northrop and Johnson, David is a pioneer in the YouTube marketing of yachts that only an extremely minor fraction of YouTube viewers can afford.

But David’s vision and efforts have paid off handsomely. His channel, Yachts For Sale , has already exceeded 11 million views, while viewership continues to increase, by virtue of 100,000 typical views per day.

There has been some criticism that marketing yachts to deca-millionaires and billionaires on YouTube is more “infotainment” than shrewd sales strategy. However, David has proven naysayers wrong many sales over. In fact, it is yacht owner fantasists that drive viewership, which, in turn, puts David’s videos at the top of search engines, such as Google. When billionaires search for yachts to buy, it is David’s yachts that appear at the top of the search results. Moreover, because billionaires also enjoy the simple pleasures of life, so too do they also enjoy perusing YouTube. They may have many assets, but time is one of their most precious assets. YouTube shopping helps prospective time-poor yacht owners hone-in on the yachts that they want to tour in person, wherever the yachts may be in the world.

Given David’s decades of yacht brokerage experience and his more recent Internet fame, Jim Simon for  Jetgala had a chance to go “on the seas with” David to ask him about his perception of current trends in the yacht industry as well as his predictions for the future.

When thinking about current trends in the yacht industry, it seems that the adoption of onboard technology is a key trend. Are there any specifics in tech that we can see now?

Environmentally friendly technology is hot right now. Diesel-electric propulsion is perceived to be environmentally friendly and as such, it is commercially successful.

People are increasingly cruising off the beaten track – Alaska, north of Norway, and the Galapagos, just to name a few. In some destinations, you must show that your yacht has limited emissions in order to pass through. Previously, emissions limited access to small yachts. However, we’re seeing larger displacement yachts like the 54M Mangusta “El Leon” calling on the Galapagos, which is now on its way to Alaska.

Are tastes in yachts changing?

Indeed. The market is thinning a bit on “go-fast” yachts. Instead, we are seeing greater demand for longer-range yachts.

We are also seeing more demand for “resort-style” yachts. For instance, Baglietto Yachts are finding that their customers want yachts where the sides open up to form a stylised beach club. The challenge with beach clubs, of course, is that they take the spaces that are traditionally used for tenders. In response, people are now towing smaller boats behind their yachts like a 108’ Mangusta that I filmed recently that tows a 27’ Goldfish RIB.

Here in Singapore, we have seen firsthand that some yacht owners who wished their current yachts to be larger commission yacht builders to build larger replicas. Is this a trend that you are seeing on a macro scale?

Yachts are definitely getting larger. In 1995, there was a trend for Ferretti Yachts, where there were seven to eight yachts, each 70–80ft long, in construction at the same time. Fast-forward to today and Lürrsen Yachts seem to have just as many 120–140m yachts in construction at the same time.

Bigger yachts mean more space, which often translates into a bigger pool and even a helicopter-landing pad.

What are yacht owners doing with their yachts when they’re not in use?

Most yacht owners will make their yachts available for charter, and many are turning charters into experiences with souvenir videos to take home. Take Arience, one of the most popular yachts available for charter at $750,000 per week. The service and décor are amazing, and the crew leverage on technology like GoPros to help capture customers’ entire experience, such as on WaveRunners, swimming in crystal clear waters, and more.

What are your predictions for the yacht industry?

We will definitely see electric yachts in the near future. Small electric boats exist already but they do not have the range that a yacht requires. Automotive is going that way; it may take a while but [electric yachts] will happen.

Another prediction is that the Chinese market will come on line. They’ve been buying yacht builders but not that many yachts. Soon, they will want their own.

Private jets are sometimes called “offices in the sky” because high-speed Wi-Fi allows executives to be productive while traveling. Do you believe that yachts will follow the same and be “offices on the seas” allowing executives to work and relax aboard their yachts?

It’s highly unlikely that this will happen. After all, yachts are for relaxing; not working, and they are a place to escape to.

Look before you leap:  Before making your next yacht purchase, check out David Seal’s comprehensive reviews on yachtsforsalechannel.com and youtube.com/user/YachtsForSaleCNI

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As of 22 June 2024, the SG government has allowed all yachts to sail (other than yachts departing from Keppel bay). This means that if your chosen yacht is departing from One 15 Marina (Sentosa), or Republic of Singapore Yacht Club (West Coast), you can sail out with no issues.

It depends on the yacht you pick, and how many persons are in your group. Small basic private yachts for 5-8 persons start from approximately $600 for 4-hours, and the larger and more luxury ones for 20-30 persons will be $2000-$3000. Also most yachts more expensive on a weekend/public holiday than on a weekday. Depending on the yacht, you can bring your own food and drinks onboard for no extra charge, but usually if you want to rent a BBQ grill on board you'll need to pay an additional charge.

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Burgess’ Asia operation was formally launched in 2015 and now counts 6 offices: Hong Kong, Phuket, Tokyo, Singapore, Shanghai, Mumbai plus an ‘Asia Desk’ in Monaco. The Asia team members are working closely across the region’s offices and with Burgess’ top experts globally to provide Asian and Asia-based customers with world class expertise and advice on all aspects of the superyacht experience. Notably, the Asia team comprises very experienced Asian yachting professionals who are able to work with clients in their own language be it Mandarin, Cantonese, Japanese, Thai, Indonesian or Hindi and six of our Asia team members are either native or fluent Mandarin speakers. Burgess already enjoys the trust of many of Asia’s leading superyacht owners and our portfolio of Asia-owned yachts for sale and charter is unequalled.

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