Kinnara’s Buyout Denial Collapses Under Its Own Paper Trail as CEO Adrian Campbell Attempts to Rewrite History Months Later

Months after publicly announcing and celebrating the completed sale of its stake in Marina Bay City, Lombok, Kinnara and its CEO Adrian Campbell are now attempting to deny that any buyout ever occurred — a claim that directly contradicts Kinnara’s own November 2025 media release and a separate acquisition announcement issued by Lux, both of which clearly state the transaction was finalised, closed, and transferred full control to Lux.

On 5 November 2025, Kinnara issued an official media release confirming the completion of the sale of its shareholding in Marina Bay Investments, stating that the transaction resulted in Lux assuming full ownership and control of the project. That release publicly declared that Kinnara’s involvement in Marina Bay Investments had concluded.

https://kinnara.asia

One day earlier, on 4 November 2025, Lux issued its own media release confirming it had acquired the remaining 50% stake, giving it 100% ownership of Marina Bay City. This release was approved by Kinnara prior to publication and described the transaction as complete and closed.

https://www.luxprojectsbali.com

https://marinabay.city

Months Later, a Complete Reversal

Despite these clear and public statements, months later CEO Adrian Campbell has begun issuing public claims that no buyout occurred at all — a position that is irreconcilable with Kinnara’s own words, documents, and acceptance of buyout funds.

Observers say this is not a dispute over interpretation, but a direct contradiction of historical fact.

You cannot announce a completed sale, accept millions of dollars, publicly congratulate the buyer on taking full control — and then months later claim the sale never happened.

Misuse of Marinabaycity.com to Mislead the Public

The situation becomes even more concerning with Kinnara’s use of the website:

This website is a digital asset of Marina Bay City, which — according to the November 2025 announcements — is now 100% owned by Lux.

Sources close to the transaction say Kinnara refused to hand over digital assets, including websites and domains, despite being contractually required to do so as part of the sale agreement.

By publishing statements on marinabaycity.com, Kinnara creates the false and misleading impression that these statements are official communications from Marina Bay City itself, when in fact they originate from a former partner that publicly exited the project.

Industry professionals warn this conduct is likely to deceive buyers, agents, and investors into believing Kinnara is still involved in the project.

Kinnara has also made public claims that it owns 38 hectares within Marina Bay City, and that the 11 hectares controlled by Lux and Marina Bay Investments are “paused.”

According to sources familiar with the land titles and project status, these claims are false.

•Kinnara does not own the 38 hectares it claims

•The land controlled by Lux is not paused and remains active

•Statements suggesting otherwise are described as absurd and misleading

Kinnara has further implied it still owns 50% of the shares in Marina Bay Investments. What is consistently omitted from these statements is the reason why.

Multiple sources allege that Kinnara accepted millions of dollars for a full buyout but then failed and refused to execute the share transfer documentation.

Legal experts note that accepting buyout funds while refusing to transfer shares is not a commercial disagreement — it is a potential fraud scenario, particularly when followed by public statements denying the transaction ever occurred.

A Paper Trail That Cannot Be Deleted

•Kinnara publicly announced the sale

•Lux publicly announced the acquisition

•Both releases stated the deal was completed

•Money was paid

•Control was transferred in practice

Those documents exist. They were published. They were approved. And they remain part of the public record.

As one industry insider put it:

“You can’t take the money, announce the deal, and then months later pretend it never happened.”

The Question Kinnara Still Has Not Answered

As scrutiny intensifies, one question continues to hang over Kinnara and CEO Adrian Campbell:

If there was no buyout, why did Kinnara announce one — and why did it accept the money?