Guan Eng: Govt has so far spent RM14mil to maintain superyacht Equanimity

  • Nation
  • Thursday, 28 Mar 2019

KUALA LUMPUR: The federal government has spent a total of RM14.22mil for the maintenance of the luxury superyacht Equanimity, since reclaiming it in Aug last year.

Finance Minister Lim Guan Eng said in a written reply that a total of RM11mil was spent between Aug and Dec last year, and another RM3.22mil until March this year.

He added that Wilson Yacht Management Ltd had been appointed to maintain the vessel, based on its experience and expertise in maintaining luxury ships.

"Since August until December last year, the total cost spent on the vessel is RM11mil, including to cover maintenance, repair, fuel, legal fees, insurance, and other related expenses related to the process of selling the yacht," said Lim, in reply to a question raised by Tan Sri Noh Omar (BN-Tanjung Karang).

Noh had asked the Finance Ministry to state the total maintenance cost for Equanimity and why it was still in the government's possession.

The Equanimity, which belongs to the Malaysian government, is to be sold for no less than US$130mil (RM543mil) – half of its original price. It is reportedly worth US$250mil (RM1bil).

On Aug 24, 2018, the Admiralty Court granted an application by the government, 1MDB, as well as 1MDB Energy Holdings Ltd and 1MDB Global Investment Ltd to sell the superyacht.

According to Lim, the Equanimity was currently docked in Langkawi and under the custody of the Kuala Lumpur High Court.

The government, he added, had opted for a private treaty (direct sale) to dispose of Equanimity, saying that it was now entering the second phase, after bids made during the first phase could not be agreed upon.

"The second phase of the sale is made through private treaty or direct sale, and is expected to end on March 31 this year," said Lim.

It was reported that the proceeds of the sale of the vessel would be paid to the court and placed in a bank account in Malaysia, as approved by the Accountant-General.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 7
Cxense type: free
User access status: 3

Across The Star Online