Equanimity to be auctioned off by year-end


  • Nation
  • Friday, 05 Oct 2018

KUALA LUMPUR: The Admiralty Court has approved the appointment of a central broker and an appraiser for the Equanimity, paving the way for the sale of the superyacht.

Judicial Commissioner Khadijah Idris made the order after hearing submissions by lawyers representing 1Malaysia Development Berhad (1MDB) and the government on Friday (Oct 5).

"The vessel is going to come out for sale pretty soon," lawyer Sitpah Selvaratnam told The Star Online on Friday (Oct 5).

"The appraiser will evaluate the fair value of the vessel, while a central broker will be tidying up all the advertisements and so on.

"The buyers will be interested to know the features and the condition of the vessel."

Sitpah, who is representing 1MDB, said they hoped to see the US$250mil (RM1bil) Equanimity come up for sale by the second week of November.

"There will be a period of maybe one month that she will be open, and the courts will be receiving bids up to, maybe, early December.

"We hope the bids we get will be accepted by the court. One of them will be the highest. We hope we can accept something, and that we conclude the sale and she leaves the waters by the end of December," she said.

When asked if there would be buyers for the superyacht, Sitpah expressed confidence.

She added that businessman Low Taek Jho, or better known as Jho Low, who supposedly owns the yacht had not appeared to challenge the sale of the superyacht.

The vessel is currently docked at the Boustead Cruise Centre in Port Klang, having arrived there on Aug 7 after being handed over by Indonesian authorities.

Equanimity was seized off the coast of Bali by Indonesia in February at the request of US authorities as part of a multi-billion dollar corruption probe launched by the US Department of Justice over 1MDB.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

Next In Nation

Cradle Fund CEO murder trial: Arrow fragments found in house compound, court told
Inter-district travel opens up opportunities for tourism sector, says Nancy
Umno members must vote to cut ties with Bersatu, says Ku Li
Covid-19: Sabah records lowest daily cases at 53 since last September
Covid-19: Seven new clusters detected, one linked to Seremban old folks home, others to workplaces
CMCO: Travel between Selangor, KL allowed but police permission needed to enter Putrajaya, says Ismail Sabri
Health DG: Protecting 'green zones' remains top priority in interstate travel decision
Ismail Sabri: Allowing interstate travel depends on Health Ministry's risk assessment
Malaysia calls for dialogue, release of Aung San Suu Kyi and others by Myanmar military
Covid-19 cases on downward trend with 1,555 new infections on Tuesday

Stories You'll Enjoy


Vouchers