Overview

• Filings show Wuthelam shifted a 55% holding in Tokyo‑listed Nippon Paint Holdings to six of the late Goh Cheng Liang’s eight grandchildren via Nipsea International.
• Bloomberg valuations indicate each grandchild’s stake exceeds US$1 billion, with April Goh recorded as the largest individual beneficiary at about US$3.4 billion.
• Goh Hup Jin retained roughly 91% of voting rights in Nipsea International, preserving de facto control over the Nippon Paint stake.
• The arrangement distributes economic ownership to the third generation while keeping decision‑making authority concentrated, an uncommon approach for wealthy Asian families.
• Filings list Martin Yuen‑An Lavoo as a director of Nipsea International, and the family has declined comment beyond Wuthelam’s memorial statement on Goh’s death.