RM14.22m spent on Equanimity

Guan Eng lists cost to maintain yacht

A TOTAL of RM14.22mil has been spent for the maintenance of Equanimity since the government reclaimed it in August.

Finance Minister Lim Guan Eng said RM11mil was spent between August and December; and from then until March, another RM3.22mil was spent.

He said Wilson Yacht Management Ltd had been appointed to maintain the superyacht based on its experience and expertise in maintaining luxury ships.

“The RM11mil covered maintenance, repair, legal fees, insurance and other expenses related to the process of selling the yacht,” he said in a written reply to a question from Tan Sri Noh Omar (BN-Tanjung Karang).

Noh had asked the Finance Ministry for the total maintenance cost and why the yacht was still under the government’s custody.

The Equanimity, which is reportedly worth US$250mil, is said to be sold for no less than US$130mil.

On Aug 24, the Admiralty Court granted an application by the government, 1MDB as well as 1MDB Energy Holdings Limited and 1MDB Global Investment Limited to sell the yacht.

Lim said the yacht was currently docked in Langkawi and under the custody of the Kuala Lumpur High Court.

The government, he added, has opted for a private treaty (direct sale) to dispose of the yacht, saying that it was now entering the second phase after bids during the first phase could not be agreed upon.

“The second phase of the sale is made through private treaty or direct sale, and is expected to end on Sunday,” said Lim.

It was reported that the proceeds of the sale would be paid to the court and placed in a bank account in Malaysia, as approved by the Accountant-General.