Seized luxury yacht Equanimity, belonging to fugitive Malaysian financier Low Taek Jho, is brought to Boustead Cruise Terminal in Port Klang, Malaysia August 7, 2018. REUTERS/Lai Seng Sin
Malaysia will sell a superyacht allegedly bought with stolen funds from state fund 1MDB to casino operator Genting Malaysia for $126 million (R1.79billion) in the first major asset sale by Kuala Lumpur to recover billions lost from the fund. 

The superyacht Equanimity is among assets allegedly bought by fugitive financier Low Taek Jho and his associates with money taken from the fund, US and Malaysian investigators have said. Jho Low, as he is known, allegedly paid $250m for the 91m yacht, which has an interior clad in marble and gold leaf, a spa and sauna, a 20m swimming pool, a movie theatre and helipad. 

Malaysia had put up the luxury yacht for sale in October, setting a minimum price tag of $130m, but had struggled to find a buyer at that price. 

“Many offers were received and a few were over $100m,” attorney-general Tommy Thomas said yesterday, adding that Genting would pay the $126m by the end of April. 

Thomas said the government negotiated directly with Genting Malaysia and as a result would save $4.4m in agent’s commission.

REUTERS