Kinnara and the Marina Bay City Buyout: WhatsApp Evidence Contradicts Public Denials
Marina Bay City, Lombok, Indonesia — New evidence has emerged that directly contradicts Kinnara’s public denial of a buyout of the Marina Bay City project. WhatsApp messages show Kinnara CEO Adrian Campbell explicitly confirming that the critical A$2 million threshold had been reached under a A$5.5 million buyout agreement—a milestone that contractually triggered further payment obligations and a share transfer that has still not occurred.
These private messages, exchanged within senior stakeholder WhatsApp groups, appear to confirm both the existence and activation of the buyout, despite Kinnara now denying it publicly.
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The Buyout Structure Kinnara Now Denies
Under the agreed buyout terms, client funds paid by Kinnara clients were to be applied as follows:
1.First A$2 million
•Retained 100% by Kinnara
•Counted toward the agreed A$5.5 million buyout price
2.After A$2 million was banked
•50% of all further client payments became immediately payable to Lux, the new owners of Marina Bay City
•Kinnara was required to execute the share transfer to Lux, completing the change of control
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WhatsApp Evidence: “We Only Just Hit 2M – It’s in the Contract”
In WhatsApp messages now in evidence, Adrian Campbell clearly confirms that the A$2 million mark had been reached, stating:
“We only just hit 2M — it’s in the contract.”
He further acknowledges that payments received after that point were subject to the 50/50 split, while confirming that the first A$2 million was retained by Kinnara in accordance with the agreement.
These statements directly contradict Kinnara’s later public claims that no buyout existed or that the threshold had not been met.
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Failure to Transfer Shares Despite Repeated Confirmations
The WhatsApp record shows Campbell repeatedly confirming that once the first A$2 million was completed, Kinnara would sign and transfer the shares to Lux.
That transfer has never occurred, despite:
•Millions of dollars in client funds having been received (now non-disputed)
•The contractual trigger for transfer being acknowledged in writing by Kinnara’s CEO
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Disputed and Allegedly Hidden Client Funds
The same WhatsApp messages also highlight a disputed amount exceeding A$800,000, identified by Lux’s accounting team as additional client deposits that were not disclosed.
Under the buyout terms, this would have resulted in over A$400,000 payable to Lux at the time. That claim has since increased to approximately A$600,000, as further payments were identified.
Lux alleges that these deposits were deliberately hidden or delayed by Kinnara to avoid triggering the 50% payment obligation—at a time when Lux was required to meet critical land repayment deadlines.
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Allegations of Strategic Delay and Land Risk
Lux further alleges that Kinnara’s withholding of funds was not incidental, but strategic—occurring while Kinnara was allegedly attempting to interfere with land contracts held by Marina Bay City’s new owners.
By delaying payments and increasing financial pressure, Lux believes Kinnara sought to manufacture a land repayment default, thereby increasing the risk to the project and undermining Lux’s position as the rightful owner.
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A Growing Gap Between Public Statements and Private Admissions
The contrast between Kinnara’s public denial of the buyout and its CEO’s private WhatsApp confirmations raises serious questions for investors and clients alike.
The messages clearly show:
•Acknowledgment that A$2 million had been reached
•Acceptance of the buyout payment structure
•Repeated commitments to transfer shares
•Awareness of additional funds triggering further obligations
Yet none of these obligations have been honoured.
As scrutiny intensifies, the WhatsApp evidence paints a picture not of confusion—but of a buyout acknowledged in private, denied in public, and left unfulfilled despite millions of dollars having already changed hands.
