Kinnara’s December 26 “Shareholders’ Meeting” Claim Exposed as Fiction Under Indonesian Law

By Editorial Desk

The latest claim by Kinnara (K-I-N-N-A-R-A) that it held a valid General Shareholders’ Meeting (GSM) on December 26, 2025 for Marina Bay City is not just misleading—it is legally impossible under Indonesian corporate law.

Kinnara’s CEO, Adrian Campbell, now alleges that Lux’s director and majority shareholder “failed to attend” this supposed meeting, and that—within 14 days—Kinnara can somehow “regain control” of the company. That narrative collapses the moment it is tested against the law or the paper trail.

The Law Is Clear: Shareholders Do Not Run Meetings

Under Indonesian company law (UU Perseroan Terbatas), shareholders cannot unilaterally call, schedule, or run a General Shareholders’ Meeting.
Only the Board of Directors can convene a GSM.

Yes, shareholders holding 10% or more may request a meeting—but that request must be made in good faith, and the Board still decides whether and when to convene it, issues the notice, sets the agenda, and complies with statutory notice periods.

No Board. No notice. No meeting.

Original Source:
https://balinews.live/kinnaras-december-26-shareholders-meeting-claim-exposed-as-fiction-under-indonesian-law/