Kinnara Welcomes LUX Property Group Commitment to Marina Bay City Investors

JAKARTA — Jakartaweekly.com. Kinnara has welcomed an announcement from LUX Property Group regarding Marina Bay City investors, saying the developer has committed to providing every verified investor with land equivalent to the full value of their original investment.

The announcement follows months of dispute surrounding investor payments, contractual obligations and the development of Marina Bay City in Sekotong, West Lombok.

Kinnara CEO Adrian Campbell said the company had spent the past year seeking greater accountability from the entities involved in the project.

“Investors deserve to know this didn’t happen by accident,” Campbell said. “We have spent a year insisting that the developers responsible for Marina Bay City account for every payment and honour their contracts.”

Kinnara said it intends to continue supporting investors until their contracted villas are delivered or they receive the full value of their original investment.

Kinnara’s Role in the Project

In a public statement issued on September 21, Hendarman Law Firm (HLF), acting as legal counsel to Kinnara Limited and its CEO Adrian James Campbell, outlined Kinnara’s position regarding its involvement in Marina Bay City.

According to HLF, Kinnara operated as a property marketing and listing platform for the project, through which some purchasers discovered the properties. The firm said purchase agreements were subsequently entered into between the project’s developers and individual purchasers, with Kinnara not being a party to those agreements.

The statement identifies PT Bali Real Estate Investments and PT Marina Bay Investments as the entities that entered into the relevant sale and purchase agreements with purchasers.

Kinnara has therefore maintained that responsibility for delivering contracted properties and accounting for purchaser funds rests with the relevant developer entities.

Dispute Over AUD 6–7 Million Claim

HLF also addressed a publicly circulated claim that between AUD 6 million and AUD 7 million of purchaser funds is missing.

The law firm said Kinnara’s position is that the claim has not been supported by bank statements, transfer records or other documentation. This is Kinnara’s stated position and remains part of an ongoing dispute.

According to HLF, Kinnara commissioned a report from a registered Public Accountant covering purchasers who discovered Marina Bay City through its platform. The report, identified as Report No. 0007/2.1446/AUP/10/1723/0/II/2026 and dated January 14, 2026, states that AUD 8,414,102.19 was paid into Marina Bay City project accounts by those purchasers between March 28 and November 30, 2025.

HLF emphasized that the figure does not represent the total amount received by the project because it only covers purchasers who found the property through Kinnara’s platform.

Kinnara also said it has published 50 transfer receipts documenting transfers totaling AUD 5,748,940.76 from the project account of Marina Bay Lombok Pty Ltd to two developer entities.

According to the statement, AUD 5,273,911.26 was transferred through 42 payments to PT Bali Real Estate Investments, while AUD 475,029.50 was transferred through eight payments to PT Marina Bay Investments.

HLF said Kinnara does not control the project account and therefore cannot account for how funds beyond its own commission were applied. The law firm said questions concerning the use of those funds should be directed to the entities responsible for the project.

Shareholding and Construction Dispute

HLF also addressed the status of Kinnara’s former stake in PT Marina Bay Investments.

According to the statement, Kinnara’s shareholders agreed in September 2025 to sell their 50% stake in PT Marina Bay Investments through a Conditional Sale and Purchase of Shares Agreement. HLF said the transaction’s completion conditions, including full payment of the purchase price, remain outstanding and that Kinnara’s shareholders therefore remain the registered holders of the stake.

The statement also refers to publicly circulating information that the West Lombok Regency Government ordered construction at the Marina Bay City site to be halted and certain structures demolished. HLF said the reported order cited construction within the protected coastal setback area, as well as the absence of required building and spatial-use approvals.

Kinnara said it has no role in the developers’ day-to-day operations and directed questions concerning construction and permits to the project’s developer entities.

Court Proceeding Concerns Defamation

HLF further clarified Kinnara’s position regarding proceedings involving Campbell and Jamie McIntyre in the Federal Court of Australia.

According to the law firm, Campbell filed proceedings against McIntyre for defamation and alleged breaches of the Australian Consumer Law under case QUD 273 of 2026.

HLF emphasized that the proceeding does not concern the allegations surrounding missing purchaser funds.

The law firm also noted that an August 20, 2026 interlocutory decision in Campbell v McIntyre (No 2) discharged earlier interim injunctions against McIntyre. HLF said the decision was not a final determination of Campbell’s claims or the truth of the publications at issue.

The proceeding remains ongoing, with the matter next scheduled before the court on October 9, 2026, according to HLF.

Kinnara Calls for Investor Documentation

Kinnara said it has been a reporting party in complaints submitted to Indonesian police authorities concerning purchaser funds since November 2025.

The company is also encouraging Marina Bay City purchasers to contact PT Bali Real Estate Investments and PT Marina Bay Investments to confirm the status of their contracted properties and request documentation showing how their funds were applied.

HLF said purchasers who contracted directly with the developer entities are entitled to information concerning their properties and the application of their payments.

The law firm has also called on media organizations to verify claims against primary records before publication and to distinguish allegations from established facts.

The dispute remains ongoing, with the parties maintaining different positions concerning purchaser funds, contractual responsibilities, ownership interests and the development of Marina Bay City. (***)