GRAND Banks Yacht confirmed yesterday that it has sold a luxury yacht to David Loh, owner of local logistics company KME Transport and a resident of Sentosa Cove.

The 54-foot Heritage yacht was sold on April 10, the first day of the recent four-day Singapore Yacht Show. Grand Banks would not disclose the price Mr Loh paid but a similar yacht on display at the show had a price tag of US$1.73 million.

In the last two months, Grand Banks has signed deals with customers from Japan and Singapore and the company may yet confirm more purchases from the "shows of interest" it received at the yacht show, indicating perhaps better times for the luxury yacht maker.