Jho Low: Pakatan government showed incompetence over Equanimity sale

  • Nation
  • Wednesday, 03 Apr 2019

Located in the coveted Bird Streets on a pie-shaped promontory known as the Crown, the 1.2-acre complex was famously owned by Jho Low.

PETALING JAYA: Fugitive businessman Low Taek Jho (pic) said the Pakatan Harapan government showed its incompetence in handling the sale of superyacht Equanimity, especially over its sale price.

He claimed that the government had not kept to the rule of law in selling off the yacht and that the government had not gotten the best possible sale price for the yacht.

"The bargain-basement sale price accepted by the Mahathir government for the yacht Equanimity is the final chapter in yet another tale of the regime's incompetence and disregard for the rule of law.

"It took the Mahathir government twice as long as they promised to sell the yacht, the auction flopped and the 'transparent' sales process the Mahathir government committed to at the outset has been subject to multiple abrupt changes – largely forced on the Government through their own incompetence.

"The Mahathir Government has shown that they are prepared to trash the value of the Equanimity in a misguided attack on their political opponents," he said in a statement.

Low, better known as Jho Low, also hit out at the Pakatan administration for allegedly having forcefully taken vessel from Indonesia and docking it in an unsuitable environment.

"Let us be clear, had the Mahathir government not illegally seized the Equanimity from Indonesia and docked it in a hazardous environment at Port Klang, the vessel would have maintained its value and avoided a fire sale.

"Proceeds from the sale have been further eroded by expenditure on the vessel's upkeep – reportedly some US$3.5mil (RM14.3mil).

"This is a failed PR stunt, which arrogantly ignored court rulings in Indonesia as well as established legal proceedings in the US," he said.

He also said the recent by-election results showed a "growing concern from the Malaysian people" towards the current administration.

Low said this through a statement issued on Wednesday (April 3) by his spokesman, Wells Haslem Mayhew Strategic Public Affairs co-CEO Benjamin Haslem.

Earlier Wednesday, the Attorney General's Chambers announced that the Equanimity had been sold to Genting Malaysia Bhd for US$126mil (RM514.14mil).

The Equanimity, formerly owned by Jho Low was allegedly purchased using funds stolen from 1Malaysia Development Bhd (1MDB).


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