Rebuttal to the Press Release Published by Kinnara
Rebuttal to the Press Release Published by Kinnara
Issued on behalf of Lux Property – 100% Owners of Marina Bay Investments
The latest press release published by Kinnara contains numerous factual inaccuracies and misleading claims. As the legitimate 100% owners of Marina Bay Investments (MBI), Lux Property provides the following clarification for all investors, stakeholders, and the general public.
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The Buyout Was Publicly Announced by BOTH Parties
Kinnara’s press release now claims they still own 50% of Marina Bay Investments and that no buyout has taken place.
This is demonstrably false.
Both Lux AND Kinnara
publicly issued and approved separate official media releases confirming the buyout months ago.
These included:
• A Lux announcement confirming full acquisition of MBI
• A Kinnara-approved media release confirming their exit and acknowledging they had been bought out
This was not private or ambiguous — it was public, distributed, acknowledged, and uncontested.
For Kinnara to now deny the buyout directly contradicts:
• Their own public communications
• Their formal approval of the sale announcement
• Their acceptance of multi-million-dollar buyout funds
Their reversal is not credible.
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2. Kinnara Accepted the Buyout Money — Then Refused to Transfer Shares
You cannot accept a buyout payment and then deny the buyout.
Kinnara:
• Negotiated the buyout
• Demanded millions of dollars
• Accepted the money
• Approved and issued public announcements confirming the sale
• Allowed the market and investors to operate under that understanding
• Then refused to sign the shareholder transfer documents
• And now claims they are still 50% owners
If Kinnara claims “no buyout occurred,” then:
Why did they accept the money?
If it wasn’t a buyout, will Kinnara immediately return those funds?
No legitimate business accepts millions for a sale and then later “changes its mind.”
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3. Kinnara’s Reversal Admits the Very Fraud They Accuse Others Of
By now claiming they still own 50% after taking the buyout funds, Kinnara is effectively acknowledging:
• The funds were taken without completing the sale
• The funds were taken under false pretence
This is not an accusation — it is the logical conclusion of their own contradictory statements.
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4. False Claims About Land Ownership
Kinnara’s claim that Lux “owns limited land” in the development is false.
In a recent recorded Zoom call, Kinnara CEO Adrian Campbell was exposed promoting and selling beachfront land that:
• Kinnara does not own
• Has never paid a deposit on
• Has no legal right to sell
• Is not under their control
Attempting to sell land without ownership is a very serious issue and misleads clients.
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5. Kinnara Is Withholding Digital Assets Promised in the Buyout
As part of the buyout, Kinnara agreed multiple times to hand over:
• Digital assets
• Client portals
• Communication channels
• The Invest in Lombok Property | Marina Bay City domain
Despite confirming these commitments repeatedly, Kinnara is still refusing to hand them over while simultaneously using those same assets to publish misleading information.
This directly contradicts the agreed terms and harms investor confidence.
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6. Kinnara’s Contradictions Raise Serious Questions
Kinnara must explain how all of this can be true:
• They negotiated a buyout
• They accepted millions of dollars
• They approved a media release confirming the sale
• They allowed Lux to announce 100% ownership
• They operated under this understanding for months
Yet they now claim:
“We were not bought out. We are still 50% shareholders.”
This narrative is incompatible with their own actions, approvals, signatures, and acceptance of payment.
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7. Lux Property Reaffirms Full Ownership and Operational Control
Lux Property remains:
• The 100% legal owner of Marina Bay Investments
• The entity in full managerial, operational, and financial control
• The party continuing to fund, develop, and construct Marina Bay City
Lux will continue to protect investors and ensure the project’s successful delivery despite attempts to create confusion.