Attorney-General Tommy Thomas announced that theme park and casino operator Genting Malaysia Bhd has bought Equanimity, the superyacht which was previously owned by the infamous businessman-turned-fugitive Jho Low. The purchase from the federal government was conducted on April 3, at the cost of USD126 million (RM514 million).
Although the price was half of its original price (USD250 million) and also not the federal government’s minimum asking price of USD 130 million, it was the best price offered over the past five months, even after meeting potential overseas buyers from as far as London and Hong Kong.
Undoubtedly, Jho Low had his say on the sale. Low claimed the PH government showed incompetence for the sale’s price and took twice as long as they initially promised. He also criticised the auction flop and poor maintenance of the yacht, hence the low price tag.
Low also said this was all just a failed PR stunt and the transaction was illegal because the government ignored Indonesia court rules to obtain the vessel along with the established legal proceedings from the United States.
Previously, the yacht was seized in Bali, Indonesia by the US Department of Justice during their investigation on 1MDB scandal
In response, Prime Minister Dr Tun Mahathir Mohamad challenged Jho Low to come out of hiding and make his allegations head-on. Tun M added that there was no point in making criticisms while hiding.