Randhawa was one-under 215 for 54 holes and was the best Indian as Arjun Atwal added a one-over 72 to slip to tied 24th place at even par.
Anirban Lahiri suffered two double bogeys, one on each side of the course to shoot 72 and be tied at 38th at two-over 215 while SSP Chowrasia, five-over after 12 holes, picked two late birdies to finish at 74 and is tied 40th at three-over 216.
The 2007 Asian Tour Order of Merit champion heads into the final round in pole position after compiling a three-day total of five-under-par 208 but will have a host of Japanese players hot on his heels at the Asia-Pacific Diamond Cup which is sanctioned by the Asian Tour and Japan Golf Tour.
Kazuhiro Yamashita will be among the Japanese players who can threaten Liang's grip on the lead as he trails the Chinese by one shot after carding a 68 to take second place at the Ohtone Country Club.
Liang's form coming into this week's Asia-Pacifc Diamond Cup is unquestionable. A tied-third finish in Sapporo last week gave an early indication of the 36-year-old's form and credentials.