Source: Malaysiakini

The ‘Equanimity’ luxury yacht, owned by the Malaysian government, will be sold at a price not less than US $ 130 million, half of its original price.

It is reported to be worth US $ 250 million (RM1 billion).

Sitpah Selvaratnam’s lawyer, who heads the government and 1Malaysia Development Berhad (1MDB) lawmaker for the case of Equanimity, said the price was fixed after the ship was evaluated by a United Kingdom independent company called Winterbothams.

“There is now a guide price for potential buyers. The market value estimated by WInterbothams is US $ 130 million, “he said after managing the case in front of Admiralty Court Judicial Commissioner Datuk Khadijah Idris today.

Sitpah said the government had received a court order to enter the second phase of the luxury ship sales.

“The first phase was billed but was not accepted, so we have to move into the second phase,” he added.

In an application filed on August 23, four plaintiffs named the shipowner, Equanimity of Cayman Islands as a defendant in a lawsuit filed by law firm Jeremy Joseph & Partners.

On August 24, the Admiralty Court allowed the government and 1MDB applications and its two subsidiaries, 1MDB Energy Holdings Limited and 1MDB Global Investment Limited, to sell Equanimity.

In the notice of application, 4 plaintiffs are seeking the sale of vessels, bunkers, fuels, lubricants and other materials on board the vessel by public tender or personal agreement by the Admiralty Court Sheriff.