Jho Low's Yacht Has Been Sold To Genting For RM514.6 Million
Genting Malaysia Bhd was reportedly the highest bidder for Equanimity.
By Jia Vern Tham — 03 Apr 2019, 12:01 PM
Fugitive financier Jho Low's luxury yacht, Equanimity has been sold to Genting Malaysia Bhd at USD126 million (approximately RM514.6 million)
According to The Edge Markets, the company made the offer to the government on 28 March through the Attorney-General's office.
Genting was reportedly the highest bidder for the Equanimity to date.
The deal was finalised earlier today, 3 April, by High Court judicial commissioner Khadijah Idris
Genting or its special purpose vehicle (SPV) company will have to deliver 10% of the payment within the next five days, and the remainder by 25 April.
Bloomberg reported that the agreed price for Equanimity is lower than the USD130 million (approximately RM528.6 million) market price evaluated by UK-based Winterbothams.
Attorney-General Tommy Thomas has since hailed the sale to Genting as the highest recovery from the 1MDB scandal
Beneficiaries of the sale include the government, together with 1Malaysia Development Bhd (1MDB) and its subsidiaries.
"This will rank as the highest recovery to date for the Government of Malaysia from the 1MDB scandal – within a mere eight months from the commencement of this action," Thomas was quoted as saying by Malay Mail.