A luxury yacht tied to the 1Malaysia Development Berhad (1MDB) scandal will be sold for a minimum price of US$130 million (RM543 million), The Star has reported.
This is a lower price than the original value of US$250 million, New Straits Times reported.
Citing a lawyer for the government, the The Star reported that the second phase of the sale of “Equanimity” has been approved.
“The first phase received bids, but the bids were not of acceptable degree. Therefore, we have to move on to the second phase,” the lawyer was quoted as saying.
Said to be previously owned by fugitive businessman Low Taek Jho (Jho Low), the superyacht was seized in Indonesian waters on Feb 28 this year, as part of the investigations by US authorities into the 1MDB case.
The High Court in Malaysia had ruled in October that the boat belonged to the Malaysian government after its registered owner failed to claim it.