Malaysia sells Equanimity at a significant discount

Malaysia has sold 91.5-metre superyacht Equanimity for $126m, considerably less than the $250m its previous owner paid for it a few years ago

Equanimity was seized from financier Jho Low off the coast of Bali last year as part of a global investigation into the scandal surrounding Malaysia-state investment fund 1MDB.

The Malaysian government said on Wednesday it had agreed to sell the yacht – which contains a marble and gold leaf interior, 11 cabins, a 20-metre square swimming pool, Turkish bath, beauty treatment suite, cinema and helipad – to casino operator Genting Malaysia for $126m.

Malaysia had attempted to sell the yacht, which Jho Low allegedly bought with $250m of stolen funds, at auction but its association with the 1MDB scandal had led to few serious offers and no bids reached a $130m reserve price.

A spokesman for Low, who is wanted by Malaysia on money laundering charges that he denies, accused the government of undervaluing the yacht in “a fire sale”.

Genting said the casino chain would use the yacht to entertain its high-rolling gamblers.

2014-built, Cayman Islands-flagged, 2,998 gt Equanimity was owned by Equanimity Cayman Ltd care of Wilson Yacht Management of Hessle, UK. It is listed as entered with Shipowners’ Club on behalf of 1MDB Energy Holdings Ltd.