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Prime Minister Tun Dr Mahathir Mohamad has thanked Indonesian President Joko Widodo and the Indonesian government for their assistance in handing over to Malaysia the "Equanimity" which the Indonesian authorities had seized.

The Cayman Island-registered vessel Equanimity, which is reportedly worth some 250 million United States dollars and is owned by Jho Low, a former unofficial adviser to the Malaysian fund 1MDB, sits in waters off Tanjung Benoa on the Indonesia's resort island of Bali on April 4, 2018.

The ex-defence minister who was a strong proponent of the King Salman Centre for International Peace says Malaysia's cooperation would have been meaningful.

The suits allege that $1.7 billion worth of assets were allegedly bought with the stolen funds, which United States officials are seeking to recover.

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The center, which aims to draw Islamic scholars to combat extremist views and promote tolerance, was announced in March previous year during King Salman's visit to Malaysia under former Malaysian leader Najib Razak.

Low, through a spokesman from his legal team, has described the handing over of the yacht to Malaysia as illegal and politically motivated.

Among the assets sought is Equanimity, cited as a 92-metre yacht bought by Malaysian financier Low, named as a key figure in the USA lawsuits. Najib, who set up and oversaw 1MDB, denies any wrongdoing. His Malaysian passport has been revoked and an arrest warrant issued.

Low, who has so far evaded investigators, issued a statement through his U.S. lawyer on Monday protesting the handover of the yacht as an "illegal act" for ignoring court proceedings in the United States. We want to know where they can get so much money to buy such an expensive yacht.

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In filings to a California district court Monday, Low's lawyers also opposed the US government's bid to suspend court proceedings.

Mahathir has said anyone who wants to claim ownership of the yacht must show proof that the vessel was not bought with stolen funds.

He said Indonesia, Malaysia and the US recently activated the mutual legal assistance treaties among themselves.

Malaysian Attorney General Tommy Thomas defended the takeover of the Equanimity.

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Legal experts said the return of the yacht would bolster the case against Najib and other people linked to the scandal and could be used to prosecute Jho Low after the fugitive is caught.