PRIME Minister Dr Mahathir Mohamad has boarded the Equanimity to inspect the US$250 million (RM1 billion) super yacht allegedly bought with stolen 1MDB funds, docked at Terminal Boustead Cruise Centre, Pulau Indah.

Finance Minister Lim Guan Eng, Defence Minister Mohamad Sabu and deputy defence minister Liew Chin Tong, who arrived earlier, are with him.

Inspector-General of Police Mohamad Fuzi Harun, Defence Forces chief General Zulkifli Zainal Abidin and Navy chief Admiral Ahmad Kamarulzaman Ahmad Badaruddin are also present.

The Equanimity arrived at Port Klang on Tuesday after Malaysia secured mutual legal assistance for its handover from Indonesia and the United States.

It is one of the assets the US Department of Justice sought to seize in a civil forfeiture suit last year, on grounds the assets were bought with money misappropriated from 1MDB.

Indonesian authorities seized the ship in February in Bali but released it in April after the yacht owner Equanimity Cayman Ltd secured a court ruling in Jakarta declaring the seizure illegal.

Indonesian authorities seized the yacht again in July after receiving a legal assistance request from the US. Dr Mahathir visited Indonesian President Joko Widodo in June.

The luxury yacht’s monthly maintenance is reported to cost RM3 million.

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

UK online ship valuation firm, VesselsValue, estimates its bid price at US$175 million (RM712 million). – August 11, 2018.