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RM11m spent to maintain Equanimity in five months

28 Mar 2019 / 11:48 H.

KUALA LUMPUR: The federal government has spent RM11 million on the maintenance of the seized luxury yacht Equanimity in the last five months of 2018.

In a written parliamentary reply today, Finance Minister Lim Guan Eng said the amount from August to December 2018 covered maintenance, repairs, fuel, legal fees, insurance, and costs related to the vessel’s sale.

Another RM3.22 million has been budgeted for the upkeep of the yacht from January to March this year, he added.

Management company Wilson Yacht Management Ltd was appointed last August to maintain the vessel.

“The yacht Equanimity is now in Langkawi under the custody and control of the Kuala Lumpur High Court,” Lim said in the reply to a question by Tanjong Karang MP Tan Sri Noh Omar yesterday.

“The yacht sales process is now entering the second phase, because bids during the first phase could not be agreed upon.”

“The second phase of the sale is made through private treaty/direct sale, and is expected to end on March 31, 2019.”

The vessel was said to be owned by fugitive financier Low Taek Jho through intermediaries.

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