Hard to find buyers for Equanimity, says firm

KUALA LUMPUR — Malaysia is finding it difficult to sell The Equanimity, the super yacht linked to the 1Malaysia Development Bhd (1MDB) scandal.

Mr Johnathan Beckett, chief executive officer of Burgess, which is handling the sale, was quoted by Bloomberg as saying that it is difficult to get clients to travel to Malaysia to inspect the yacht.

“It’s very difficult to get clients there,” said Mr Beckett, adding that it is difficult to get prospective buyers to travel a relatively short distance to inspect yachts, what more to Malaysia.

Valued at over RM1 billion (S$330 million), the yacht is formerly owned by businessman Low Taek Jho, the alleged mastermind behind the 1MDB scandal.

The yacht was first seized by Indonesian authorities in February last year on behalf of the US Department of Justice, which had filed civil forfeiture suits in US courts to seize assets allegedly purchased with money stolen from 1MDB.

The Equanimity was then handed over to Malaysian authorities in August last year, and the Admiralty Court then declared the Malaysian government as the rightful owner of the yacht.

While the Malaysian Admiralty Court last year attempted to auction off the yacht, none of the bids were accepted as they were too low, Mr Beckett was quoted as saying last week.

The vessel is now being offered through a conventional sale until the end of March. THE MALAYSIAN INSIGHT