Selangor Journal
Tan Sri Tommy Thomas. Picture by BERNAMA

Equanimity’s full purchase price paid in time, A-G says

Tan Sri Tommy Thomas. Picture by BERNAMA

PUTRAJAYA, Jan 10 — Genting Malaysia Bhd has become the new owner of the luxury yacht Equanimity after sale proceeds in excess of RM500 million were credited into the specially opened 1Malaysia Development Bhd account, said Tan Sri Tommy Thomas.

The attorney-general said the full purchase price was paid within the specified period.

“The entire episode – from the time the yacht sailed into Malaysian waters in August 2018 and arrested pursuant to an order of the admiralty court, to its ultimate sale in a private treaty – was implemented according to the highest standards of maritime law, on a par with every reputable legal system,” he said in his speech at the opening of the 2020 legal year in Putrajaya today.

He said everything was done in a transparent and accountable manner.“Everyone involved in the administration of justice should be proud of the law’s contribution in acquiring a national asset for the public good.”

The vessel is believed to have been bought by wanted businessman Low Taek Jho for US$250 million (RM1 billion) using 1MDB-linked funds.

Last April, it was reported that Genting or its special purpose vehicle would buy Equanimity for US$126 million.

Thomas said the sheriff’s commission for the private-treaty sale is in excess of RM6.4 million.

The sum, paid last month, is a record in Malaysia’s legal history.

 

— Bernama

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