Kinnara, Marina Bay City Lombok, and a Buyout Denied: Documents, Screenshots, and a Disputed Rewrite of History
Marina Bay City, Lombok, Indonesia —
A publicly issued press release by Kinnara.Asia confirming the sale of its stake in Marina Bay Investments now sits at the centre of an escalating dispute, after Kinnara CEO Adrian Campbell publicly denied that any buyout occurred—despite that release remaining live, unwithdrawn, and approved at the time of publication.
The contradiction has prompted renewed scrutiny of Kinnara’s representations to investors, its continued use of Marina Bay City branding, and the handling of client funds following the announced transaction.
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The Press Release Kinnara Now Disputes
On November 4–5, 2025, Kinnara.Asia issued a formal press release on its own letterhead, titled:
“Kinnara.Asia Finalises Strategic Sale of Its Stake in Marina Bay Investments to Lux Property Developments.” 
The release states unequivocally that:
“Kinnara.Asia today announced the completion of a strategic transaction involving the sale of its shareholding in Marina Bay Investments…” 
It further declares:
“Lux Property Developments will now assume full ownership of Marina Bay Investments and continue its ongoing project roll out in Indonesia…” 
The press release includes direct quotations from Adrian Campbell, in his capacity as CEO, describing the transaction as a completed and successful exit:
“That mission has been achieved, and this transition reflects a natural next phase as Lux Property Developments continues to advance the project’s delivery and long-term vision.” 
The document contains:
•Formal headers (“FOR IMMEDIATE RELEASE”)
•Named executives
•Corporate contact details
•A structured announcement format consistent with regulated corporate communications
No retraction, correction, or qualification has been issued by Kinnara since.
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Publication and Approval
The same buyout announcement was:
•Published by Kinnara
•Published on the official MarinaBay.city website
•Mirrored by a corresponding Lux Property Developments media release, also approved at the time
At no point in November did Kinnara object to, dispute, or distance itself from the announcement.
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December 20: A Public Denial
Despite this, on December 20, screenshots from investor communications show Adrian Campbell asserting that:
•The buyout did not occur
•The earlier media release was “fabricated”
•Ownership had not transferred
Those statements now sit in direct conflict with Kinnara’s own published words.
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Screenshots: Contradictions in Real Time
Screenshot Evidence: Investor Group Thread (Dec 20)
In the screenshots reviewed for this investigation:
•Campbell denies the buyout
•Claims conditions were unmet
•Suggests the public narrative is false
Yet within the same communications, he references:
•A signed conditional agreement
•A staged exit process
•Events consistent with a transaction having progressed
Investigators note that these admissions are difficult to reconcile with an assertion that the buyout announcement was wholly fabricated.
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Use of Brand, Digital Assets, and Project Identity
Following the announced sale, concerns have been raised regarding Kinnara’s:
•Continued use of Marina Bay City digital assets
•Ongoing representations to clients and investors
•Control of channels associated with the project
Whether such use was authorised after the transaction is now a point of dispute.
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Ownership Claims After a Declared Exit
Despite publicly stating that Lux would assume full ownership, Campbell has recently asserted that Kinnara remains a 50% shareholder.
Legal commentators note that where a company:
•Announces the sale of its stake
•Accepts consideration
•Allows the announcement to stand unchallenged
—subsequent claims of ongoing ownership may expose decision-makers to allegations of misrepresentation, depending on the contractual facts.
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Why the Press Release Matters
The significance of the November press release is not merely symbolic. It is:
•A primary corporate record
•Issued under Kinnara’s authority
•Quoting its CEO
•Distributed internationally
•Never withdrawn
If the statement was inaccurate, investigators ask:
•Why was it issued?
•Why was it approved?
•Why was it not corrected immediately?
•Why deny it only after scrutiny intensified?
As one insider close to the project said:
“You don’t accidentally announce the sale of your company stake, quote your CEO, list your media contacts, and then weeks later claim it was all made up.”
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What Happens Next
Sources indicate that:
•The underlying transaction documents may be released
•Further screenshots and correspondence exist
•Regulatory scrutiny in multiple jurisdictions is possible
For now, the contradiction remains unresolved:
A company cannot both finalise a strategic sale and later claim it never occurred—without answering serious questions.
The documents are public.
The screenshots are timestamped.
And the record speaks for itself.
