‘Equanimity’ may sail off with new owner by December

  • Nation
  • Saturday, 06 Oct 2018

The superyacht Equanimity, belonging to Jho Low, is brought to Boustead Cruise Terminal in Port Klang, Malaysia on Aug 7, 2018. – Reuters

KUALA LUMPUR: The Equanimity could be sold by December if all goes according to plan, after the Admi­ral­ty Court approved the app­ointment of a central broker and an appraiser for the superyacht.

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

“The vessel is going to come up for sale soon. The appraiser will evaluate a fair value of the vessel, while a central broker will tidy up all the advertisements and so on.

“The buyers will be interested to know the vessel’s features and condition,” lawyer Sitpah Selva­rat­nam, who is representing 1MDB, told The Star.

Sitpah said 1MDB 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 so that we can conclude the sale and she (Equani­mity) leaves the waters by the end of December,” she added.

When asked if there would be buyers for the superyacht, Sitpah said she was confident of it, adding that businessman Low Taek Jho, who supposedly owns Equanimity, had not challenged the sale.

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

Equanimity was seized off the coast of Bali by Indonesia in Feb­ruary at the request of US authorities as part of a graft probe by the US Department of Justice into 1MDB.

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

Courts & Crime , Equanimity , 1MDB , Jho Low


Did you find this article insightful?


Next In Nation

Covid-19: 14 new clusters detected, 12 linked to workplaces
Bersatu supreme council meeting ends
Ismail Sabri: Compounds totalling RM492,000 issued for MCO violations on Wednesday (March 3)
Covid-19: Active cases continue downward trend despite slight rise in daily infections
Ismail Sabri: Possibility of interstate travel being discussed
Outbreak among Miri offshore workers caused spike in Covid-19 cases, says Sarawak deputy CM
Six women among 16 illegals nabbed in Melaka
Covid-19: Cases up by 2,063, bringing total to 307,943 (updated daily)
Covid-19: 2,063 new cases, five more fatalities bring death toll to 1,153
People still easily duped by Macau scammers, say cops

Stories You'll Enjoy