1MDB-linked superyacht in Singapore, Latest World News - The New Paper

1MDB-linked superyacht in Singapore

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LANGKAWI: The superyacht caught up in the 1Malaysia Development Berhad (1MDB) corruption storm had set sail for Singapore on Sunday, reported the New Straits Times.

Langkawi police chief, Superintendent Mohd Iqbal Ibrahim, said the luxury vessel, which was called Equanimity and has been renamed Tranquility by its new owner Genting Malaysia, left the Mawilla 3 navy jetty in Langkawi at 2pm on Sunday.

"The marine police did not accompany the Tranquility along its journey as the vessel now belongs to Genting.

"It is no longer the government's asset which was previously under the Attorney-General's Chambers," he said yesterday.

The Star, quoting a source, said the vessel is undergoing checks and maintenance in Singapore to ensure its engine and other equipment are in working condition.

"The ship is also receiving hull and propeller polishing, a process to remove the barnacles underneath it as it has been berthed for a long time," the source told The Star.

He said the vessel is also going through scheduled maintenance and service to ensure that it is in tip-top running condition to prepare it for a long cruise ahead.

The superyacht, said the source, had not undergone any repairs or extensive maintenance since it was detained by the Indonesian authorities 14 months ago in Bali.

He said Genting had plans to take the yacht to Hong Kong, where it would be used by its sister company Genting Hong Kong as part of its cruise line business to serve high rollers and other VIP customers.

Genting bought the vessel through direct negotiation after the Malaysian government failed to sell the yacht through a court auction with a minimum bidding price of US$130 million (S$177 million).

Genting operates cruise liners that offer casino activities through Genting Hong Kong.

The 91.5m superyacht was seized in Bali in February last year in an asset recovery operation by the US Department of Justice as part of its investigation into stolen 1MDB funds.

Last August, Indonesia then handed over the vessel to Malaysia.

In the last eight months, the Malaysian government has spent more than RM15 million (S$5 million) to maintain the superyacht.