We consider the quintic one dimensional nonlinear Schr\"odinger equation with forcing and both linear and nonlinear dissipation. Quintic nonlinearity results in multiple collapse events randomly distributed in space and time forming forced turbulence. Without dissipation each of these collapses produces finite time singularity but dissipative terms prevents actual formation of singularity. In statistical steady state of the developed turbulence the spatial correlation function has a universal

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... rm with the correlation length determined by the modulational instability scale. The amplitude fluctuations at that scale are nearly-Gaussian while the large amplitude tail of probability density function (PDF) is strongly non-Gaussian with power-like behavior. The small amplitude nearly-Gaussian fluctuations seed formation of large collapse events. The universal spatio-temporal form of these events together with the PDF for their maximum amplitudes define the power-like tail of PDF for large amplitude fluctuations, i.e., the intermittency of strong turbulence.