DOCKED at Port Klang since Tuesday, the luxury superyacht Equanimity is Pakatan Harapan’s 100-day trophy as it cleans up the mess left by the previous Barisan Nasional government.

Ahead of the new government’s 100 days in power next Thursday, the yacht is also a distraction from criticism that PH has yet to fulfil some of its election pledges promised within the time frame.

In a move that blindsided the public, Prime Minister Dr Mahathir Mohamad appeared to have struck a deal with Indonesian President Joko “Jokowi” Widodo for the yacht to be handed over to Malaysian authorities despite the US$250 billion (RM1.03 billion) vessel being one of the items sought by the US Department of Justice in civil forfeiture suits.

The yacht may be sold to the highest bidder to get back some of the funds allegedly misappropriated from 1Malaysia Development Bhd (1MDB), Finance Minister Lim Guan Eng has said.

The arrival of the 91.5m superyacht, which has hosted Hollywood celebrity parties, has created so much buzz that Penang lawmakers even suggested it be brought to the northern state and turned into a tourist attraction and charging the curious a fee.

Penang has an interest because of the yacht’s purported owner – wanted businessman Low Taek Jho, also known as Jho Low – comes from the state.

Equanimity’s owners, Equanimity Cayman Ltd, according to the company’s lawyers, said Malaysia’s move to take possession of the yacht is illegal.

The DoJ had previously filed civil forfeiture suits in the US court to seize the yacht which it said Low bought in 2014 with funds allegedly misappropriated from a 1MDB bond issuance in 2013 and a Deutsche Bank loan to 1MDB in 2014.

Equanimity was among US$1.7 billion worth of assets, including several paintings, jewellery and movie rights, DoJ sought to recover.

The superyacht came into the limelight when reports surfaced in 2014 that Low celebrated his sister’s birthday and hosted lavish parties on board, including off South Korean waters in 2015.

Low, who denied ownership of the yacht in 2016, also allegedly presented a diamond jewellery set worth US$2 million to Australian model Miranda Kerr onboard the Equanimity. Kerr has since surrendered US$8.1 million worth of gifts from Low to DoJ.

Indonesian authorities helped the DoJ seize the yacht in Bali in February, after it had been spotted docking around Southeast Asia, Hong Kong and Australia over the past few years.

However, Equanimity Cayman Ltd won a court ruling in Jakarta in April to declare the seizure as illegal and the yacht was released.

Indonesian police again seized the yacht in July after a request for legal assistance from the US. Dr Mahathir visited Jokowi in June.

Once Malaysia resolves ownership issues over Equanimity over the next six to nine months, it could be the most expensive yacht to be auctioned off. 

A UK online ship valuation firm, VesselsValue, estimates its bid price at US$175 million (RM712 million).

Built by Dutch manufacturer Oceano, Equanimity features a helipad, Turkish bath, beauty salon, plunge pool, experiential shower, gym and circular pool.

Its interior features marble, bamboo, gold leaf and dark wood, winning it the “Best in Show” award in the 2014 Monaco Yacht Show.

It can accommodate 26 guests and 28 crew members. The master suite has its own lounge and study, exterior deck and a whirlpool.

Najib Razak, who yesterday faced fresh charges of money laundering in relation to a former 1MDB subsidiary, has denied any knowledge that the yacht was bought with stolen 1MDB funds.

But despite the denial, the former prime minister is still seen as a party to the scandal as social media users piled scorn and jokes on him in comments related to articles about the superyacht.

After the cash, jewellery and designer handbags worth up to RM1.1 billion that were seized in residences linked to Najib in May, Equanimity is still the single biggest, most lavish symbol of the previous government’s excesses and the lengths to which Dr Mahathir’s government has gone to hold its predecessor to account. – August 9, 2018.