Kinnara Published 50 Transfer Receipts Confirming IDR 67.2 Billion Paid to West Lombok Developer

When Kinnara Limited, the Hongkong-based property marketplace operating across Indonesia and Asia, was appointed marketing agent for the Marina Bay City development in Sekotong, West Lombok, it did so with the confidence of a company that keeps meticulous records. That instinct has since proved to be the foundation of Kinnara's entire public response to a deepening investment dispute — one that has left more than thirty investors without the villas they contracted, on a site that has never seen a single contracted villa delivered.

Fifty transfer receipts — each signed by Hilton Wood, CFO of Marina Bay Lombok Pty Ltd, and subsequently verified by independent external audit — document AUD 5.748 million, equivalent to IDR 67.2 billion, paid by Kinnara directly into the Indonesian bank accounts of West Lombok developer Jamie McIntyre. The funds were channelled into PT Bali Real Estate Investments (BREI) and PT Marina Bay Investments, the two Indonesian entities in which McIntyre serves as Komisaris alongside Director Christina Nathalia. Not a single contracted villa at the Marina Bay City site has been delivered.

When Nathalia subsequently disclosed the bank records of both entities, the combined balances stood at less than USD 10,000. The developer has not publicly addressed the discrepancy between the documented funds received and the account balances disclosed.

"The receipts we have published are the floor, not the full total. In our assessment, the developer received sufficient capital to build every contracted villa. The site is empty."

— Adrian James Campbell, CEO & Co-Founder, Kinnara Limited

Campbell was careful to draw a clear distinction between Kinnara Limited's role and that of the developer. "Kinnara Limited is a property marketplace, not a developer," he said. "Prior to our formal exit agreement, additional funds were committed to feasibility studies, the 150-acre land survey, and community dispute resolution work. Every dollar Kinnara transferred is accounted for and documented."

Kinnara Limited has never received revenue from the Marina Bay City project and has not been repaid for its investment. The decision to publish all 50 receipts in full reflects what management describe as an unwavering commitment to transparency — toward clients, toward the broader investment market, and toward the Indonesian and Australian regulatory environments in which Kinnara operates.

West Lombok Government Issues Demolition Order

The absence of construction at the Marina Bay City site in West Lombok is now a matter of formal government record. The West Lombok Regency Department of Public Works and Spatial Planning (PUPR) has reaffirmed its commitment to spatial order, ordering the Marina Bay development in Sekotong to immediately halt all physical construction activities.

Following a field inspection led by PUPR officials of West Lombok Regency, it was confirmed that the project has failed to complete the necessary Building Approval (PBG) and Persetujuan Kesesuaian Kegiatan Pemanfaatan Ruang (PKKPR) documentation. The department emphasised that while the investment has potential for the region, all activities must remain within the legal corridors of regional spatial planning to ensure sustainable and safe development.

Kinnara's Formal Exit Agreement Left Unpaid

Kinnara Limited's departure from Marina Bay City was structured carefully and in good faith. A Conditional Sale and Purchase Agreement (CSPA), signed on 24 September 2025, provided for McIntyre to acquire Kinnara's 50 percent stake in the project's first-stage West Lombok lands. An initial deposit was received by Kinnara. Every subsequent payment obligation and every Condition Precedent under the agreement has since remained unmet.

Following the signing of the CSPA, the developer publicly declared 100 percent ownership of the Marina Bay City project, issued public statements directing parties not to deal with Kinnara Limited, and continued its own marketing activities for the project. Kinnara Limited remains owed millions of dollars for the asset it transferred under the CSPA. The developer's public statements are the subject of active defamation proceedings in Australia, and Kinnara alleges those statements caused more than AUD 15 million in cancelled sales.

Standing Behind Every Client

Kinnara Limited's public disclosure is driven, in no small part, by its relationship with the investors it introduced to Marina Bay City. More than 30 somasi letters — the formal written demands required under Indonesian civil law before court proceedings may be initiated — have been issued directly to McIntyre by clients who contracted for villas at the West Lombok site. Not one has been answered.

Under Indonesian civil procedure, unanswered somasi constitute evidence of non-compliance and establish the legal foundation for escalated court proceedings. Kinnara Limited has actively supported clients through each stage of this process.

"Every cent we transferred is documented. We are speaking out for every client who is confused, who is worried, and who deserves clarity about what happened to their investment. Every single one of those clients matters to us."

— Julie Norman, COO, Kinnara Limited

The Kinnara property marketplace has been transparent with investors from the outset: sharing documentation, coordinating legal support, and maintaining direct communication throughout what has been a difficult period. Kinnara's position is straightforward — clients deserve answers, and where the developer has not provided them, Kinnara Limited will.

Unauthorised Replica of Kinnara's Website Used to Collect Funds

Compounding the situation for investors, an unauthorised replica of Kinnara Limited's official website was created at the domain marinabay.city and populated with Kinnara's copyrighted marketing materials without authorisation. According to Kinnara's investigation, the site was used to collect investor funds outside Kinnara's authorised channels. The total amount collected through the replica site is not yet known. Any funds gathered through this channel are additional to the IDR 67.2 billion already documented in Kinnara Limited's published receipts. Legal proceedings addressing copyright infringement and the unauthorised use of Kinnara's materials are underway.

Active Legal Proceedings Across Indonesia and Australia

The independent external audit completed in March 2026 confirmed that every one of Kinnara's payment obligations to the Marina Bay City project has been met in full.

A Path Forward for Marina Bay City and for Investors

The future stages Marina Bay City lands in West Lombok are now being offered to new developers who are prepared to honour the commitments made to the Buwun Mas community and to operate in full compliance with Indonesian land and planning regulations. Kinnara Limited's priority throughout this transition remains ensuring that those who invested in the project's vision are not left without recourse.

In parallel, Kinnara Capital — the development subsidiary of Kinnara Limited — is proceeding independently with the Saraya Beach Resort project in Sekotong, West Lombok, under its own rigorous financial governance framework. PT Kinnara Capital Indonesia (NIB 2601260101567) is the sole Kinnara operating entity in Indonesia, and all Kinnara development activity is conducted through this entity.

Full documentation published by Kinnara Limited includes all 50 transfer receipts, the independent audit report, the SP-3 enforcement order, and the complete legal proceedings register. These are available in full at marinabaycity.com/transfers.pdf.