Mahathir Has Jho Low's Yacht, Now He Wants His Private Jet
Mahathir Has Jho Low's Yacht, Now He Wants His Private Jet
(Bloomberg) -- Malaysian Prime Minister Mahathir Mohamad has his eye on Jho Low’s private jet after impounding his yacht, as he seeks to recover $4.5 billion of assets allegedly lost through 1MDB.
Mahathir managed to seize financier Low Taek Jho’s $250-million ship on Tuesday, after asking Indonesian President Joko Widodo to sail it in from the neighboring country. Now, he’s looking to Malaysia’s other neighbor, Singapore, where Low’s Bombardier Global 5000 jet was reportedly possessed last year. Malaysia has hired law firm Tan Rajah & Cheah to start legal action in Singapore.
The jet may meet a similar fate as the yacht, which Malaysia plans to auction off to recoup public funds. Mahathir said he had to decline opening the 300-feet long yacht to the public to keep it in good condition for any buyers. Even he had to exercise caution when he went on board on Saturday.
The ship boasts a gymnasium, massage room, sauna room, steam room, plunge pool, and an “experiential shower,” according to the builder Oceanco’s website. It also has “fantastic” elevators and “special” furniture,” Mahathir said. Oceanco described the yacht’s interior as having “a distinct Asian flair.”
Still, it may not be smooth sailing ahead. Low’s lawyers have called Mahathir’s seizure of the yacht “illegal” and are asking the U.S., which first initiated the yacht’s seizure in Indonesian waters in February, to explain why Malaysia is thanking it for helping impound the ship after the Justice Department said it wasn’t involved.
To contact the reporter on this story: Yudith Ho in Kuala Lumpur at yho35@bloomberg.net
To contact the editors responsible for this story: Linus Chua at lchua@bloomberg.net, Sharon Chen, Liau Y-Sing
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