KUALA LUMPUR, Oct 1 — Finance Minister Lim Guan Eng has admitted that he could not fulfill his promise for Penangites to board the RM1 billion super yacht said to be bought by native son Low Taek Jho, better known as Jho Low.
The former Penang chief minister explained in an interview with Malaysiakini published today that the reason was to obtain a high selling price for Equanimity, now under the government’s custody.
“I have never owned a yacht before, so I didn’t know that when you show it off, the price drops by more than half… because they (potential buyers) want exclusivity.
“So please understand. I fulfilled half the promise, I got the yacht back,” he told the news portal.
Lim reportedly promised Penangites the chance to visit the super yacht said to have been bought with money from sovereign investment fund 1Malaysia Development Berhad (1MDB), if Pakatan Harapan won the May 9 general election, which it has.
The federal government obtained an order from the Admiralty Court on August 24 to auction off the vessel that is listed to be owned by Equanimity of Cayman Islands.
Indonesia returned the yacht to Malaysia on August 7.
The Equanimity is currently docked at the Boustead Cruise Terminal in Port Klang and kept under guard round the clock. Public access is barred.