SUPERYACHT Equanimity has been sold to Genting Malaysia Bhd or its special-purpose vehicle company for US$126 million (RM529 million), said Tommy Thomas.

The Admiralty Court in Kuala Lumpur has approved for acceptance the offer by Genting to purchase Equanimity on the sheriff’s terms and conditions, the attorney-general said in a statement.

The US$126 million purchase price will be paid by Genting and received by the court by the end of April.

This will rank as the highest recovery to date for the government from the 1MDB scandal, within eight months from the commencement of the action.

The superyacht is among assets allegedly bought by financier Low Taek Jho or Jho Low and his associates with money siphoned off 1Malaysia Development Bhd, American and Malaysian officials have said.

Low allegedly paid US$250 million for the yacht, which has an interior clad in marble and gold leaf, a spa and sauna, a 20m pool, a theatre and helipad.

Tommy said the US$126 million was the best offer received over five months from October 2018, when Equanimity was first put up for sale.

“Many offers were received in this period, and a few were more than US$100 million. It was Genting however, that offered the highest price that was today approved by court for acceptance. As the Genting offer was negotiated directly with the government of Malaysia, no agency commission is payable, resulting in a savings of about US$4.4 million.

“In consequence, although the  Winterbothams’ market price evaluation of the Equanimity at US$130 million was not reached, the net returns to the government of Malaysia is as good if not more than envisaged,” he said.

Tommy said the satisfactory sale price of US$126 million was accomplished largely through the expertise and mastery of the dedicated legal team representing Putrajaya.

“The legal team acted beyond the call of duty, travelling to meet potential buyers in Hong Kong and London, bearing travel costs personally to ensure the widest possible outreach, and a better understanding of the circumstances of the sale,” he said.

The attorney-general thanked the Royal Malaysian Navy, which he said, offered prime space in Langkawi for the docking of Equanimity over five months, free of charge. – April 3, 2019.