Jakarta. The Marina Bay City in Sekotong, West Lombok, is currently in the spotlight. This is a massive coastal destination project with investments totaling AUD 1.6 billion (nearly $1.1 billion), and will boast dozens of luxury villas. 

However, the project recently caught attention following reports of businessman Adrian James Campbell leaving his role as Marina Bay Investment’s commissioner. The reports immediately sparked questions over the project’s continuity, including its ownership structure. 

Campbell’s legal counsel Hendarman Law Firm (HLF) recently clarified that his client was still involved in the project. The lawyer cited that Campbell still owns a 50% stake in Marina Bay Investments through Marina Bay Group. Campbell indeed has reached a “mutual understanding” to transfer his shares to James Neville McIntyre and affiliates. However, such a transfer will only occur if McIntyre has fully satisfied the conditions. McIntyre has not met these requirements.

“Campbell continues to own 50% shares of Marina Bay Investments through Marina Bay Group. This can be proven through the official registry that can be accessed at Indonesia’s Law Ministry,” HLF said.

Adrian James Campbell’s Role in Marina Bay City

The law firm went on to say that Campbell was the one who initiated the Marina Bay City project through his company Kinnara Ltd. This includes the site identification, brand creation, master planning, marketing, as well as the establishment of its sales and investor framework. 

“Marina Bay Investments only develops small portions of the Marina Bay City Project,” HLF said.

Campbell and Kinara Ltd have also picked two other developers to work on the remaining area.

Kinnara Ltd’s Agency Agreement

The release touched on Marina Bay Investment’s agency agreement with Kinnara Ltd. The latter has agreed to help Marina Bay Investment sell the villas developed within the multi-district project. This deal remains effective, according to HLF.

“Kinnara Ltd assures relevant parties that all sales of Marina Bay City project are valid and all funds received will be responsibly distributed to the intended utilization at the Marina Bay project,” the law firm stated.

Campbell has requested clarification from Marina Bay Investments’ director Christina Natalia and commissioner McIntyre following funds misuse indications as well as unpaid contractor obligations. Lack of appropriate licenses has prompted West Lombok public works agency to put the project on hold. The lawyers’ statement also wrote that the current management had failed to align with the “credibility, integrity, value, and principles” upheld by Campbell. The director and commissioner in question had also failed to provide sufficient clarification, according to HLF. Campbell also pushes for an extraordinary shareholders meeting following these issues.

He has also taken legal action against those who “purposefully and irresponsibly” distributed misleading news on the ownership structure.