PORT KLANG: Superyacht Equanimity will not be open for public viewing in order to maintain its value and safeguard its condition, Malaysian Prime Minister Mahathir Mohamad said on Saturday (Aug 11).
He said the ship would be sold off as soon as possible as the maintenance costs alone would come to about RM2 million (US$489,600) a month.
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“We have to keep the yacht in good condition. But if you allow hundreds of people to come and view the yacht then it might damage the yacht.
“Buyers will not want to buy a ship that is exhibited like that," Dr Mahathir told reporters after conducting an inspection of the vessel - estimated to be worth RM1 billion - docked at the Boustead Cruise Centre.
“ It’s super luxurious ... Everything you can think of is there and many things that you don’t think about are also there” That’s how 93 year old Dr Mahathir describes the Equanimity . He’s given a 45 min tour of USD250 mil yacht earlier on Saturday . pic.twitter.com/7lSn0kBpKp — Melissa Goh (@MelGohCNA) August 11, 2018
The superyacht, linked to fugitive businessman Low Taek Jho, or Jho Low, arrived in Malaysia on Aug 7 after being handed over by Indonesian authorities.
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Dr Mahathir, however, said the public would be able to have an idea of what the Equanimity was about as pictures had been taken of the luxurious interior of the vessel during the visit.
“Everything that you can think of is found there and many things that you don't think about is also there. It is not really a yacht, but a huge ship,” he said.
Dr Mahathir said it appeared that several paintings had been removed from the ship.
He said the proposed sale of the superyacht will be advertised internationally.
Asked if any parties had expressed interest to buy the vessel, Dr Mahathir said he had some idea of who the interested parties were.
Nevertheless, he stressed that those intending to purchase it “must be very, very rich”.
“Maybe people like the Arabs or Bill Gates might (make an) offer,” he quipped, adding that the ship would be very expensive to maintain.
Dr Mahathir also dared Jho Low to come and stake his claim over the ship’s ownership.
"WE ARE ENTITLED TO IT"
Dr Mahathir said the United States has assured that Malaysia was indeed the owner of the superyacht Equanimity as it had been acquired by Mr Low using funds siphoned from 1Malaysia Development Berhad (1MDB).
This was uncovered in the course of an investigation by the US Department of Justice (DOJ), said the prime minister.
"The DOJ investigated and they found that this yacht belonged to Jho Low and that the money he paid for it was stolen money, from 1MDB," he said.
Dr Mahathir added the US had documents on this.
"They have assured us that this is Jho Low's boat and they said if we want to keep it we are entitled to it because this is ours, and (the yacht had been) bought with stolen Malaysian money, and when we eventually sell this boat we're entitled to the proceeds," he said.
A total of US$4.5 billion was allegedly misappropriated by top-level 1MDB officials and their associates, according to civil lawsuits filed by the DOJ.
The suits allege that US$1.7 billion worth of assets were allegedly bought with the stolen funds, which US officials are seeking to recover.
PORT KLANG (THE STAR/ASIA NEWS NETWORK) - Malaysian Prime Minister Mahathir Mohamad has described the Equanimity as being "super luxurious" and said the government will sell the yacht to the highest bidder as soon as possible.
The premier toured the US$250 million (S$343 million) vessel, which allegedly belongs to fugitive businessman Jho Low, on Saturday (Aug 11) at the Boustead Cruise Centre in Port Klang where it is berthed after being handed over to the Malaysian authorities on Monday.
"It's very luxurious, super luxurious. I have been on yachts before but nothing like this. Everything is superb, and bought with stolen money, by crooks. We'll get at the crooks," he said at a media conference after spending an hour on the boat.
The Equanimity was first seized in February by Indonesian officials for the US Department of Justice (DOJ), after the DOJ claimed it was purchased with funds stolen from Malaysian state fund 1MDB.
Indonesian authorities handed over the vessel to Malaysian marine police off Batam island on Monday. On the same day the DOJ filed an application to the court in California to suspend all proceedings regarding the vessel so the US government could find out Malaysia's intentions for the yacht.
Tun Dr Mahathir said on Saturday the US authorities have confirmed the yacht was purchased by Mr Low using funds stolen from 1MDB.
“They have identified this boat as being bought with stolen money from 1Malaysia Development Berhad (1MDB) and it belonged to Jho Low. They have documents on this and said if we wanted to keep it, we are entitled to it because it was bought with our stolen money,” he said, as quoted by new site the Malay Mail.
The premier said the government aims to sell the vessel to the highest bidder as soon as possible.
He added that if Mr Low, whose full name is Low Taek Jho, wants to prevent the Equanimity from being sold off, it is up to him to prove that the ship is his and not bought with money stolen from Malaysia.
"We are going to sell the boat as soon as possible. The maintenance of this boat alone costs us RM2 million a month," said Dr Mahathir.
He also said that the superyacht would not be open for public viewing, as it needs to be kept in very good condition.
"On yachts people don't even wear shoes, but we were given some privilege to wear shoes.
"But if we allowed hundreds of people to come and view the yacht, we might damage the yacht. It will give a very bad impression and buyers won't want to buy the ship exhibited like that.
"So we cannot allow the public to view the yacht."
Dr Mahathir said the ship had "fantastic" elevators inside it, where even the cables were hidden from sight.
"The furniture is special for this boat, I think. I have never seen furniture like that anywhere else, and the rooms are fantastic," he said.
Dr Mahathir said the most luxurious room, the master bedroom, has a glass roof, so one can lie on the bed and look up at the sky.
"There is a skylight, and of course if it is too hot you can close it. Everything you can think of is found there, and many things you don't even think about are also there," he said.
Accompanying Dr Mahathir during his inspection of the ship were Finance Minister Lim Guan Eng, Defence Minister Mohamad Sabu, Deputy Defence Minister Liew Chin Tong, Armed Forces chief General Zulkifli Zainal Abidin, Navy chief Admiral Ahmad Kamarulzaman Ahmad Badaruddin and Inspector-General of Police Mohamad Fuzi Harun.
Asked whether anyone had expressed an interest in buying the Equanimity, Dr Mahathir said the government has an idea of who may be interested.
"We have some idea on people who are interested but they must be very, very rich. Maybe Arabs or Bill Gates might offer," he said, referring to the billionaire founder of Microsoft.
PORT KLANG (Bernama): Tun Dr Mahathir Mohamad says the United States has assured that Malaysia is the owner of the superyacht Equanimity and as such, free to do anything they want with it.
The Prime Minister said the US Department of Justice (DoJ) investigation had revealed that the vessel was acquired by Low Taek Jho, also known as Jho Low, using funds siphoned from 1Malaysia Development Berhad (1MDB).
"The DoJ investigated and they found this yacht belonged to Jho Low and that the money he paid for it was stolen money from 1MDB," he told reporters after touring the superyacht at the Boustead Cruise Centre here Saturday (Aug 11).
The luxury ship was handed over to Malaysia by Indonesia on Aug 7.
Dr Mahathir said the US had the documents to prove this.
"They have assured us that this is Jho Low's boat and they said, if we want to keep it, we are entitled to it because this is ours and bought with stolen Malaysian money, and when we eventually sell this boat we're entitled to the proceeds," he said.
Dr Mahathir said that the purchase of the vessel, estimated to be worth RM1bil, was an exercise in money laundering.
"When you steal money you have to put it somewhere. So in order to hide the money, they buy properties or ships like thisand they think that this way the money that they have stolen is clean," he said.
He said the Government planned to sell the luxury ship as soon as possible as maintenance costs alone amounted to RM2mil every month.
Dr Mahathir also dared Jho Low to come and claim ownership of the vessel.
"Jho Low claims that it belongs to him. Well he can come and claim," he said.
The Equanimity was seized off the coast of Bali by Indonesia in February at the request of US authorities as part of a multi-billion dollar corruption probe launched by the DoJ over 1MDB.
However, an Indonesian court ruled in April that the seizure was illegal and that the yacht should be returned to its owners.
But Indonesian authorities seized the yacht again in July following a formal request for legal assistance from the US. Indonesia then agreed it would hand over the superyacht to Malaysia. – Bernama
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Dr M at Port Klang to 'inspect' Jho Low's superyacht Equanimity
Dr M Equanimity is very luxurious
Dr M to Jho Low: Prove Equanimity is yours, or it goes to the highest bidder
