Equanimity Bids Not Acceptable; Govt Switching to Private Nego

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RM543 million minimum price set for Equanimity.

Lawyers representing the government today revealed that the Admiralty High Court in Kuala Lumpur did not accept the bids received for the Equanimity.

Lawyer S Sitpah, who is appointed by the government, told reporters after meeting Judicial Commissioner Khadijah Idris, that they received an order from the court to proceed with the second phase.

“The bids were not to the acceptable degree and so we have to move to the second phase to conduct private negotiations (with the bidders) with the closing date set for March 31, 2019.

“Now we are able to give a guide price to the value which is US$130 million,” she told reporters.

The valuation price of US$130 million (RM543 million) was given by United Kingdom-based independent appraisers Winterbothams which provides professional surveying and consultancy to the yachting industry.

“Now there is a guide price for potential buyers,” Sitpah added.

She said this after case management at the Admiralty Court before Judicial Commissioner Khadijah Idris here on Thursday (Dec 13).