FUGITIVE businessman Low Taek Jho has blamed Pakatan Harapan’s seizure and docking of the Equanimity at “a hazardous environment at Port Klang” for its failure to sell the superyacht.
In a statement issued by his lawyers, Low said Prime Minister Dr Mahathir Mohamad’s “failed PR stunt” of claiming the vessel from the Indonesian authorities had created doubts over its ownership and condition.
“The predictable failure of the Mahathir government to hold a successful auction of the yacht Equanimity is another example of a Mahathir regime prioritising illegal acts over the rule of law in a transparent effort to score political points,” ”said Low, better known as Jho Low.
“This was a failed PR stunt from the outset. By illegally seizing the yacht from Indonesia, where the US government had been willing to cover the substantial cost of the vessel’s upkeep, docking it in a hazardous environment at Port Klang, and then subjecting the vessel to poorly-controlled media and public access, the Malaysian government was responsible for substantially eroding the Equanimity’s value.”
On October 19, the KL High Court declared that the Equanimity belonged to 1Malaysia Development Bhd (1MDB) subsidiaries – and thus the Malaysian government, which owns 1MDB – after its registered owner failed to show up in court to claim the vessel.
However, Low has maintained that the seizure of the yacht was illegal as it was in violation of Indonesian law.
Last week, Malaysian lawyer S. Sitpah announced that the 92m-long Equanimity, which was purchased for US$250 million (RM1 billion) would be on sale for a minimum price of US$130 million after a recent auction closed without “acceptable” bids.
Low said the political stunts by Pakatan Harapan had led to a “doomed fire-sale” of the yacht.
“With so much doubt hanging over its ownership, no sensible, independent third-party buyer is going to purchase a vessel from an unreliable vendor like the Mahathir regime at anything other than a hugely depressed value,” he said.
The Equanimity was docked at Port Klang on August 7 after Indonesian authorities handed it over to Malaysia. It was seized off the Indonesian island of Bali in February at the request of the US authorities as part of a corruption investigation launched by the US Department of Justice into 1MDB.
Authorities say the yacht was bought with funds siphoned from the state fund. – December 18, 2018.
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Comments
He is not only in hiding but the has the nerve to condemn and criticise the PM and Malaysian Government..
He thinks he is very smart. However, Im surprised at what spears to be a lackadaisical attitude with regard to the apprehension of Low.
The police IGP should provide some update on the matter.
What happened to Hishamuddin? He talked so much about knowing where Low is. What is he waiting for if he is truly sincere bringing to justice a arrogant young criminal
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