Equanimity auction receives bids from all over the world

KUALA LUMPUR (Nov 30): Bids from potential buyers from all over the world were received for the Equanimity which was previously owned by fugitive financier Low Taek Jho (Jho Low).

According to The Malaysian Insight, the yacht received worldwide interests after it went up for sale, drawing bids from Asia, Europe, the Middle East and the US. The auction ended on Wednesday.

In a statement yesterday, Sheriff of the High Court of Malaya, Mohd Zamir Suhaimee, said multiple offers were received after the yacht was put up for sale for a month.

However, the number of offers and the value of the offers cannot be revealed. The appraised value for the yacht as well as the identities of the bidders will remain confidential until the sale is completed.

Mohd Zamir said: “As the next step, the sheriff will communicate with the bidders."

He added that the unsealing of the bids yesterday was attended by Burgess, the yacht broker appointed by the high court as the central exclusive agent for the sale of the Equanimity.

Through Burgess, the Malaysian Admiralty Court said to the world what it would do, and through Burgess the world has seen the court do what it said it would do, the statement said.

“The nature of the judicial sale process is to preserve the confidence of the bidders that their identities and offers will not be disclosed until the sale is completed.

The  yacht is reportedly among more than US$1.7 billion in assets that the US Department of Justice claims were acquired by Jho Low and his accomplices with money they siphoned from 1MDB.

This article first appeared in The Edge Financial Daily, on Nov 30, 2018.

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