The Malaysian Government has announced the sale of the 92-metre mega yacht EQUANIMITY to Genting Malaysia Bhd or its SPV (special purpose vehicle) company. The yacht is expected to be officially purchased by the end of this month at a price of USD 126 million.
91.5m Oceanco mega yacht Equanimity
The sale will represent the highest recovery to date for the Government of Malaysia from the 1MDB scandal since the beginning of this action. Since October 2018, the government has received a number of offers, this being the highest.
Because of the Genting offer was negotiated directly with the Government of Malaysia, there is no agency commission to be paid; which brings it to savings of about USD 4.4 million. As a result, although the Winterbothams’ market price evaluation of the Equanimity at USD 130 million was not reached, the net returns to the Government of Malaysia is as good if not more, than envisaged.
“This judicial sale at USD 126 million is historic, by any measure. It records a the high-water mark for our judicial system in ensuring that market value is secured for a vessel sold through the processes of Court, without any discount. It is even more commendable that this is achieved in a very sophisticated high-end superyacht sale,
where the pool of buyers is extremely small.”
“The very satisfactory sale price of USD 126 million was accomplished largely
through the expertise and mastery of the dedicated Legal Team representing
The government of Malaysia, to whom I pay tribute. The Legal Team acted beyond the call of duty, travelling to meet potential buyers in Hong Kong and London, bearing travel costs personally; to ensure the widest possible outreach and a better understanding of the circumstances of the sale. Their efforts were complemented by
the prompt and steady co-operation of the Court Sheriff; and the professionalism and readiness of the Admiralty Judge to respond to vastly extraordinary circumstances. “ announced Attorney General of Malaysia, Tommy Thomas.
While under arrest, EQUANIMITY was, securely and free of charge, docked by The Navy in a prime area of Langkawi, while the Navy and the Police ensured security at all times.
ABOUT EQUANIMITY
~ Launched in 2013 by Oceanco in the Netherlands
~ Azure Naval Architects are responsible for her naval architecture
~ Interior design by Andrew Winch
~ Expansive accommodation for 26 guests
~ Crew accommodation for up to 28
~ Exceptional spa on board with hammam, experiential showers, plunge pool, beauty salon
~ Huge beach club
~ Fully equipped gymnasium and Pilates studio
~ 20 square metre swimming pool
~ Number of tenders and variety of water toys
~ Fully-certified helipad
~ Twin 4,828hp/3,600kW MTU 20V 4000 M73L engines
