Kuala Lumpur spent $1.2m to maintain Equanimity

Finance Minister Lim Guan Eng on Wednesday said the government has spent an estimated RM3.5 million on the maintenance of luxury yacht Equanimity since taking possession of it in August.VIDEO: THE STAR/ASIA NEWS NETWORK
The 1MDB-linked luxury yacht Equanimity has been in the Malaysian government's possession since August.
The 1MDB-linked luxury yacht Equanimity has been in the Malaysian government's possession since August.PHOTO: REUTERS

KUALA LUMPUR • About RM3.5 million (S$1.15 million) has been spent to maintain the 1MDB-linked super yacht Equanimity since the Malaysian government took possession of it in August.

Finance Minister Lim Guan Eng said the money was spent on port services, legal fees and hiring of crew to maintain the yacht.

The sum was as of Oct 10, Mr Lim said in a written reply to a question in Parliament on Wednesday from a Selangor MP about Equanimity and how much was spent to bring it back and maintain it.

Mr Lim said 1Malaysia Development Bhd (1MDB) had obtained a court order to appoint marine surveyors Winterbothams as the appraiser and surveyor for the yacht.

He said the same court order, obtained on Oct 5, appointed Burgess as the sole broker to assist in the sale and the marketing process.

On a separate question from another MP, the Finance Ministry said it was still investigating Deloitte Malaysia, one of the accounting firms that signed off on previous accounts of 1MDB.

"The new 1MDB is investigating the matter and will take necessary action based on the outcome and advice from the Attorney-General's Chambers," said the ministry in a written reply.

 
 

1MDB has been under new management since Pakatan Harapan took office six months ago.

THE STAR/ASIA NEWS NETWORK

A version of this article appeared in the print edition of The Straits Times on November 23, 2018, with the headline 'KL spent $1.2m to maintain Equanimity'. Print Edition | Subscribe