Equanimity can be sold for at least RM500mil, says Sivarasa

KUALA LUMPUR (Bernama): – The superyacht Equanimity linked to fugitive businessman Low Taek Jho or Jho Low, which allegedly cost RM1bil, could be sold for at least half the price, said lawyer R. Sivarasa.   

The Deputy Rural Development Minister said the price estimate was his personal view because the asset would depreciate in value just like a car. 

“We are not getting that much, the yacht is just like a car, when you buy today and tomorrow, the price will be less," he said at the International Malaysia Law Conference here Friday. 

"The yacht was bought probably at RM1bil, we will be lucky and probably hope to get RM500mil," he said in his speech during the last plenary session entitled “Equanimity: Perspectives of Handling Criminal Investigations Relating to Government Corruption and Abuse of Power."

Sivarasa said the yacht is currently docked in Pulau Indah, Port Klang, waiting to be sold. 

The RM500mil cash proceeds will be used to pay for the massive debts of 1Malaysian Development Berhad (1MDB). 

On Tuesday (Aug 14), Attorney General Tommy Thomas said that the yacht will be sold within three to four months if there was no claim of ownership.

During the question-and-answer session, Sivarasa said that the criminal proceedings involving 1MDB would take some time because it was a complicated case which dealt with various agencies.

“I am not here to speak on behalf of the Attorney General.

"But speaking as a lawyer and looking at the circumstances of the 1MDB saga, the prosecution would be more complicated, and we need to prepare the case properly,” he said.

He added that the scandal not only involved Jho Low, but also other individuals and companies.

Sivarasa, however, said recovering all assets and monies belonging to 1MDB would not take a long time, as the assets had been frozen in Switzerland, Singapore and the United States.

Meanwhile, Deputy Public Prosecutor of the Malaysian Anti-Corruption Commission (MACC) S. Thangavelu shared the same view as Sivarasa.

He said the criminal proceedings over 1MDB  would take some time because for criminal matters, the prosecution must prove its case beyond a reasonable doubt in court in order to win.