Superyacht sold at best price, says Guan Eng
KUALA LUMPUR: The government has defended its move to sell the Equanimity superyacht at a lower price than it was estimated to be worth.
Finance Minister Lim Guan Eng said it was being sold at the “best price” to offset the maintenance costs forked out by the government for the last eight months.
Commenting on the superyacht’s purchase by Genting Malaysia Bhd or its special purpose vehicle company at US$126 million (RM514.14 million), Lim said it was the best price offered based on an open tender.
The sale of the luxury vessel, which was seized from fugitive financier Low Taek Jho over his links to 1Malaysia Development Bhd’s fund misappropriation scandal, was announced by Attorney-General (A-G) Tommy Thomas yesterday in a statement.
“This (sale was) announced by the A-G. Definitely this is the best price they (Genting) can offer, and we are in support of it because for the last eight months, the government has been paying over RM14.2 million (for maintenance). That is a very big amount.
“If we can sell it quickly, get the best price possible, at least (the gov- ernment) will not have to bear the sum (maintenance cost). It is almost RM2 million a month. It is very taxing,” Lim told the press at the Parliament lobby.
Asked if the government targeted to sell the superyacht at a higher price considering its original value of US$250 million (RM1 billion), according to the United States court documents, Lim said it was the price agreed upon by the government.
It was earlier reported that the 91.4m-long vessel had an estimated price of US$130 million (RM530 million) on Burgess, the website that handled its sale.
“This is the best price. I mean, you can never be happy with the price. You always want more. That is only natural. Just like if you want to sell anything, you always want more (higher price), and if you want to buy anything, you always want (to pay) less,” said Lim.
“But if this is best price we can have, based on an open tender, I think we have to accept this is the best price we are going to get.”
Lim criticised an English daily which front-paged a report claiming that there had yet to be a potential buyer.
“Read the paper today, which said (the superyacht) cannot be sold. I think to each his own.”
To a journalist from the daily who was present at the press conference, he said: “You all messed up, is it? And suddenly this (news on the sale) came out. So it depends on perception.”
On a separate matter, Lim produced a document which he said was evidence of an offer by a Hong Kong-based company to purchase the Malaysia Building in Gloucester Road, Wan Chai.
He said the highest offer received for the building was RM1.68 billion, more than the RM1.1 billion offer initiated by the previous administration through direct negotiations.
Lim said it proved that adopting an open tender approach yielded better prices compared with direct negotiations, which could involve political interests.