WELL DONE MAHATHIR & TOMMY: JHO LOW’S RM1 BILLION YACHT DRAWS A REASONABLE SALE PRICE ‘COMMENSURATE WITH A 4-5 YEAR OLD LUXURY YACHT’ – INSTEAD OF CRUMBS AS SOME HAD FEARED

KUALA LUMPUR— The Admiralty Court here has selected a nine-figure offer as the successful bid for the Equanimity superyacht that fugitive financier Low Taek Jho allegedly bought with funds misappropriated from 1MDB.

The legal team appointed to handle the transaction said today that this was after the completion of the court process for the auction, which included publicising the yacht’s availability for purchase for one month from Oct 29.

“With the mandatory phase of the judicial sale process duly completed, with the widest outreach and publicity possible in the superyacht market, and to the trading and business community generally, the Sheriff will be seeking the necessary orders from the court to commence the second phase of this judicial sale, by private treaty, for closing of the sale no later than 31 March 2019.

“The nine-digit asking price will be available on application, once approval of the court is obtained, and will commensurate with a 4.5-year-old Oceano-built luxury yacht, with the specifications of the Equanimity, as she lies,” the team said in a statement.

MALAY MAIL