BIDS for the super yacht Equanimity, which has been on the auction table for a month, will be unsealed this afternoon at the Kuala Lumpur High Court.
With the auction ending at 5pm today, the sheriff of the High Court of Malaya, Mohd Zamir Suhaimee, will open the sealed bids sent by potential buyers. Ownership will go to the highest valid bid.
The number of bids or their amounts may never be publicised, said lawyer Jeremy Joseph, who is representing 1Malaysia Development Bhd.
“It is held by the sheriff.”
The sheriff also holds the sealed appraisal note, which sets the court-approved value of the yacht. The government is expected to consider other sale options if all the bids are lower than the note.
Prospective buyers had to put down a deposit of US$1 million (RM4.2 million) each to qualify for bidding.
Proceeds from the sale of the yacht, which was 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, said Attorney-General Tommy Thomas in August.
Bidding was given the green light last month by the Kuala Lumpur Admiralty Court, which declared that the government and 1MDB are the beneficiary owners, and that the government is free to sell the super yacht.
The 91.5m-long Equanimity went on sale on October 27 after Malaysia took possession of it from Indonesia, where the yacht was first seized as part of an asset-recovery operation by the US Department of Justice in its probe into stolen 1MDB funds.
Lawyers expect “no issues” will crop up regarding the subsequent ownership of the vessel.
The sales agent, yacht broker Burgess, said on its website that the judicial sale will provide the buyer with an “internationally recognised ownership title free of mortgage, attachment and all encumbrances”.
The vessel belonged to Penang-born businessman Low Taek Jho, also known as Jho Low, who bought it for US$250 million using 1MDB-linked funds in 2014.
Putrajaya in June issued an arrest warrant for Low, who is accused of siphoning off billions from 1MDB. – THE MALAYSIAN INSIGHT
Goldman Sachs: We knew about it all along, says Dr M
PETALING JAYA: Tun Dr Mahathir Mohamad says he has known for quite some time the involvement of Goldman Sachs in transactions that resulted in losses for 1Malaysia Development Berhad (1MDB).
The Prime Minister said the move by the United States’ Department of Justice (DoJ) in filing criminal charges against former Goldman Sachs executive Time Leissner and former bank official Ng Chong Hwa or Roger Ng as well as fugitive financier Low Taek Jho merely confirmed it.
“We have known about it all along,” Dr Mahathir said at a press conference today.
“Now he (Leissner) has pleaded guilty, although (previously) he denied this,” Mahathir said on Leissner’s guilty plea to two money laundering charges involving discrepancies linked to 1MDB.
“Action will be taken by the United States (Department of Justice), because the offence took place there.
“For offences that involve us (happened in Malaysia) we will take action and if the US requests extradition, we will do so.”
The Edge reported today that Leissner had pleaded guilty to two charges of money laundering and conspiring to corrupt foreign officials.
It was also reported that he had agreed to forfeit US$43 million as part of his guilty plea. His sentencing has been fixed for Jan 17, 2019.
On the Equinaminity yacht previously owned by fugitive financier Low Taek Jho or Jho Low, Dr Mahathir said he had no knowledge on the outcome of its sale.
“I have not received information about that. I want to purchase it, but I don’t have enough money.”- NST
THE MALAYSIAN INSIGHT / NST
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