Jurong Port buys 41% stake in Universal Terminal from collapsed oil trader Hin Leong's Lim family

The Lim family managed and owned 41 per cent of Universal Terminal through Universal Group Holdings.
The Lim family managed and owned 41 per cent of Universal Terminal through Universal Group Holdings.PHOTO: HIN LEONG

SINGAPORE - Singapore port operator Jurong Port has completed its acquisition of shares in a major oil storage terminal which was the crown jewel of assets held by the Lim family of collapsed oil trader Hin Leong.

A spokesman for Jurong Port confirmed to The Straits Times on Friday afternoon (March 19) that its purchase of a 41 per cent stake in Universal Terminal has been completed. The terminal on Jurong Island was among the biggest oil and shipping assets owned by former oil tycoon Lim Oon Kuin, better known as O.K. Lim, his son Evan Lim Chee Meng and daughter Lim Huey Ching.

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