After ‘rough waters’, Equanimity will set sail again as Tranquility

Still docked: Tranquility is currently undergoing checks to ensure that it is in working condition. — AP

PETALING JAYA: After sailing on “choppy waters”, the superyacht Equanimity is getting new checks and a new name under its new owner Genting Malaysia Bhd.

The luxury vessel – the highest recovery so far for the government from the 1Malaysia Development Bhd (1MDB) scandal – is currently in Singapore to undergo repair and maintenance works.

The superyacht, allegedly bought by fugitive financier Low Taek Jho, or Jho Low, with stolen money from the sovereign fund, is said to have been renamed Tranquility.

In early April, Genting Malay­sia confirmed its purchase of Equa­nimity for US$126mil (RM514.6mil) – a major sale described by Attorney-General Tommy Thomas as historic.

According to a source, the vessel is undergoing checks and maintenance at the Loyang offshore base near Changi to ensure that its engine and other equipment on board are in working condition.

“The ship is also receiving haul and propeller polishing, a process to remove the barnacles underneath it as it has been berthed for a long time,” he said.

The source added that the vessel is also going through scheduled maintenance and service to ensure that it is in tip-top running condition to prepare it for a long cruise ahead.

The superyacht, said the source, had not undergone any repair or extensive maintenance works since it was detained by the Indonesian authorities 14 months ago in Bali.

The source said Genting had plans to bring the yacht to Hong Kong, where it would be used by its sister company Genting Hong Kong as part of its cruise line business to serve high rollers and other VIP customers.

The source also said the vessel had officially changed its name to Tranquility last weekend before it left Langkawi, where it had docked at the Royal Malaysian Navy’s Region 3 headquarters in Tanjung Lembung for five months, for Singapore on Sunday afternoon.

“The change of name was done as soon as the Malaysian court sealed and officially handed the vessel to Genting,” he added.

Genting Malaysia is part of the Genting Group, whose business includes casino operations in Gen­ting Highlands in Malaysia and Sentosa Island in Singapore.

Genting bought the vessel through direct negotiation after the Malaysian government failed to sell the yacht through a court auction with a minimum bidding price of US$130mil (RM543mil).

Genting operates cruise liners that offer casino activities through Genting Hong Kong Ltd.

The 91.5m superyacht was seized in Bali in February last year in an asset recovery operation by the US Department of Justice as part of its investigation into stolen 1MDB funds.

Last August, Indonesia then handed over the vessel to Malaysia.

In the last eight months, the Malaysian government has spent more than RM15mil to maintain the superyacht.