How Goh Cheng Liang's family built two White Rabbit Yachts

Goh Cheng Liang’s family owns two vessels named White Rabbit. The first was built in Tasmania in 2005. The second, much larger hull came from Washington in 2018. This change marks a shift in how the family uses its fortune.

Goh Cheng Liang founded Wuthelam Holdings in 1974. The company manufactures paint and coatings. He grew up in poverty in Singapore. He sold fishnets and rubber tappers for income after World War II. He began buying cheap paint from the British army. He turned that into a local business.

He set up his first paint shop in Singapore in 1955. He became the main distributor for Nippon Paint in 1962. Wuthelam Holdings started as a real estate concern. It has interests in both paint and property. His son Goh Hup Jin runs their joint venture, Nipsea.

Goh Cheng Liang died on 12 August 2025. He was 98 years old. Forbes listed his net worth at $12.7 billion in 2024. That made him the second richest person in Singapore. His wealth came from industrial growth, not speculation.

What did the original White Rabbit look like?

The first White Rabbit arrived in 2005. North West Bay Ships built her in Tasmania. She measured 61.45 metres from bow to stern. This size placed her in the mid-range of luxury yachts at the time. She flew the flag of Saint Vincent and the Grenadines. This is a common registry for private vessels.

The family kept this hull for more than a decade. They used it while their business expanded rapidly. The decision to replace her was not sudden. It followed a period of significant corporate growth. The family’s business interests grew in the early 2010s. This provided the funds for a larger project.

Tasmania is a remote location for shipbuilding. It limits access to major supply chains. A larger yacht requires more complex systems. The family likely sought a yard with greater capacity. They needed a builder who could handle aluminium construction. This material allows for lighter, faster hulls.

Washington yards often focus on aluminium construction. This suits the Pacific Northwest climate. The choice of yard suggests a preference for modern engineering. Echo Yachts is a smaller, boutique builder. They specialise in custom designs. This contrasts with the massive yards that build mega-yachts.

Why did they choose Echo Yachts in Washington?

The new White Rabbit arrived in 2018. Echo Yachts built her in Henderson, Washington. She measures 84.0 metres. This is a substantial increase in length and volume.

Washington yards often focus on aluminium construction. This material allows for lighter, faster hulls. It also suits the Pacific Northwest climate. The choice of yard suggests a preference for modern engineering.

The flag changed to the Cook Islands. This registry is popular for larger vessels. It offers specific benefits for superyachts. The shift aligns with the increased scale of the operation.

Echo Yachts is a smaller, boutique builder. They specialise in custom designs. This contrasts with the massive yards that build mega-yachts. The family chose precision over sheer size.

The value of this hull is estimated at $100 million. This figure reflects the cost of construction and fit-out. It does not include the operational costs of running such a vessel.

How did the family’s wealth enable this upgrade?

Goh Cheng Liang founded Wuthelam Holdings in 1974. The company started with paint and coatings. It grew into a major regional player. The family’s net worth reached $12.7 billion by 2024.

A key moment came in 2020. His son, Goh Hup Jin, helped close a deal. Wuthelam took formal control of Nippon Paint. This merger added $3.8 billion to the family’s wealth.

Goh Hup Jin runs Nipsea, a joint venture. He became chairman of Nippon Paint in March 2018. This timing coincides with the delivery of the new yacht.

The financial power behind the purchase is clear. The family controls a vast industrial empire. They use this capital to acquire high-value assets. The yacht is one part of their portfolio.

Goh Cheng Liang passed away in August 2025. He was 98 years old. His legacy includes both business success and philanthropy. The Goh Foundation supports many charitable causes.

What does the replacement pattern reveal?

The sequence from 61 metres to 84 metres is deliberate. It shows a step-up in capability. The family did not just buy a bigger boat. They upgraded the entire platform.

The old hull served its purpose for over a decade. It allowed the family to test the waters of superyacht ownership. The new hull represents a commitment to longer-term use.

The change in builders is also notable. Moving from Tasmania to Washington changes the support network. It brings the vessel closer to major Asian markets via the Pacific.

This is not an isolated purchase. It fits a broader pattern of asset accumulation. The family converts industrial profits into tangible luxury goods. The yacht is a visible symbol of that success.

The name White Rabbit remains constant. It links the two vessels across time. It signals continuity despite the radical change in scale. The identity of the owner is preserved.

Where does the family stand today?

The Goh family continues to manage its vast interests. Goh Hup Jin leads the paint division. The family maintains its position among Singapore’s wealthiest.

The current White Rabbit is their primary yacht. There is no evidence of other large vessels under their name. They have consolidated their fleet rather than expanding it.

This consolidation suggests a focus on quality. One well-equipped yacht may serve better than multiple smaller ones. The 84-metre hull offers ample space for guests and crew.

The story of White Rabbit is one of evolution. It tracks the growth of a family business. It shows how wealth translates into lifestyle choices. The yacht is a chapter in a larger history.