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Business deals

How Singapore's Wuthelam turned the tables on Nippon Paint

Shrewd investing to give one-time junior partner a boardroom majority

Nippon Paint has agreed to name six outside directors to its board, including Wuthelam Chairman Goh Hup Jin.   © Reuters

OSAKA -- Sixty years ago Wuthelam founder Goh Cheng Liang came to a Japanese paint maker seeking advice on how to sell paint in Singapore. His son, Goh Hup Jin, now runs Wuthelam and controls 39% of Nippon Paint Holdings' shares. He wants to shake things up in the Japanese company's boardroom.

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