PUTRAJAYA has not been able to sell the super yacht Equanimity after several offers did not meet its minimum asking price of US$130 million (RM543 million), which is half of its original price.

The government had set March 31 as the deadline to reach a deal to sell the Equanimity but despite several offers, the vessel has yet to be sold.

1Malaysia Development Bhd (1MDB) lawyer Jeremy Joseph told The Malaysian Insight that Putrajaya was still “evaluating offers”.

He said an announcement on the yacht will be made soon.

Government-appointed shipping lawyer Sitpah Selvaratnam, who is leading the legal team for Putrajaya and 1MDB into the sale of the vessel, could not be reached for comment.

The vessel was purchased by Penang-born businessman Low Taek Jho, also known as Jho Low, for US$250 million, allegedly using 1MDB-linked funds in 2014.

Malaysia took possession of the 91.5m-long vessel from Indonesia, where the yacht was apprehended by Indonesian authorities. The vessel is currently anchored in Langkawi.

Prime Minister Dr Mahathir Mohamad said then that the government wished to dispose of the vessel as soon as possible, citing monthly maintenance costs of RM2 million.

Earlier reports said that the Equanimity may have up to 20 interested buyers from the Middle East, Russia and other parts of Asia, citing the government-appointed broker Burgess.

Last week, Finance Minister Lim Guan Eng told Parliament that Putrajaya had spent RM14.22 million to maintain the vessel between August last year to March.

Lim told Parliament in a written reply that RM11 million was spent from August to December last year and another RM3.22 million from January to March this year.

Costs included maintenance, repair, fuel, legal fees, insurance and costs related to selling the yacht. Maintenance is carried out by Wilson Yacht Management Ltd.

Lim had said the sale process was now in the second phase of a private treaty or direct sale and was expected to end on March 31. The first phase of the sale was conducted through a bidding process which ended late last year and which failed to generate a desired price.

Proceeds from the sale of the yacht, seized under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLA), will be placed in a fixed deposit trust account, Attorney-General Tommy Thomas said last year.

Constructed by Netherlands-based custom yacht builder Oceano, the Equanimity is the 54th largest yacht in the world at 2,998 tonnes.

The Equanimity won Monaco Yacht Show’s Best in Show in 2014 and was delivered to Low in June 2014.

The vessel can accommodate 26 guests and has a crew of 28. – April 1, 2019.