Jurong acquires storage asset

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Jurong Port acquires storage asset

WongPartnership acted for Jurong Port in Singapore and two other shareholders in the financing obtained to acquire Universal Terminal, an independent petroleum storage asset. Jurong Port acquired a 41% stake in Universal Terminals from insolvent Hin Leong Trading company. The Singapore-based team is led by partners Alvin Chia and Tan Teck Howe.