Equanimity bill to hit RM14.2m by end of March

The billion-ringgit yacht is currently being managed and maintained by Wilson Yacht Management Ltd. — Picture by Mukhriz Hazim
The billion-ringgit yacht is currently being managed and maintained by Wilson Yacht Management Ltd. — Picture by Mukhriz Hazim

KUALA LUMPUR, March 28 — The government will have spent an estimated RM14.2 million by the month’s end to house the Equanimity superyacht it seized from Low Taek Jho and is trying to sell, said the finance minister.

Lim Guan Eng (PH-Bagan), in a written Parliamentary reply to a question posed by Tan Sri Noh Omar (BN-Tanjong Karang) yesterday, explained that RM11 million was spent for maintenance costs from August to December last year.

The billion-ringgit yacht is being managed and maintained by Wilson Yacht Management Ltd, that was appointed based on its expertise, he said.

“The total cost spent is for the maintenance, repairs, fuel, legal fees, insurance costs, and costs towards the sale process of the yacht.

“For the months of January up to March 2019, the total cost that has and will be spent on this vessel is expected to be around RM3.22 million,” he said.

The yacht is believed to belong to fugitive financier Low, also known as Jho Low, and bought with funds allegedly misappropriated from the 1Malaysia Development Berhad.

The vessel was seized on the coast of Bali, Indonesian by maritime authorities last year on the request of US authorities as part of corruption investigations by the Department of Justice into 1MDB.

The yacht is now docked in Langkawi, Kedah.

Lim also said in his reply that the sale process was moving to the next state as no price was agreed during the previous auction.

“The second phase will be done through a private treaty or direct sale that will end on March 31,” Lim said.