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KUALA LUMPUR (October 5): Equanimity, the luxury yacht is to go on sale before the end of the year, following the approval of the appointment of the central broker and international appraiser by the High Court (Admiralty).
Malaysiakini reports that the order was given by Judicial Commissioner Khadijah Idris after submissions from lawyers representing 1MDB and the government.
Government-appointed lawyer Sitpah Selvaratnam was quoted as saying by the news portal that the government has agreed to appoint a central broker and appraiser, which allows for the process of selling the vessel to begin.
"With the order, the appraiser, who is based in the United Kingdom, can start evaluating the worth of the boat, which will be confidential, while an internationally reputable broker can be appointed to start receiving bids.
"The buyers will bid and we will choose the best buyer and come back to court. It is a niche market, so the bids can come and the sale be done within a month. Hopefully, we can sell the vessel by mid-November or early December," Sitpah was quoted as saying to reporters.
The international broker appointed today would begin the process of advertising and drafting memorandums to notify potential buyers of the specifications of the yacht.
Sitpah said that there had been no challenge filed by Jho Low, who is said to own the vessel.
The vessel is currently docked at the Boustead Cruise Centre in Port Klang, and reportedly costs RM2 million a month in maintenance.
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