Press Release 2019-June 24th

Board Meeting of 2019 June 7th

PR with immediate release

With a shared goal to prepare for an exciting moment for Indonesia’s infrastructure history, our board of shareholders agreed on a decision to withdraw any investment from North Bali International Airport.

Our partnership with the local and central government was formed to use our expertise in PPP projects and technology to enhance Bali’s region and improve employment in a region utterly touched by poverty and unemployment.

Our shared ambition was to develop North Bali’s region with a financial scheme dedicated to stimulating growth and reduce uncertainty was a profound engagement made to satisfy the Balinese community.

Building a better future for Indonesia’s population with investment from our pool was a tool to take action in order to improve their financial futures in a context of lacklustre performance and growth.

Moreover, we think that the success of our project and our design was formed at the intersection of technology and purpose, it is rooted in shared commitment to propose a unique airport based on renewable energy and smart technology dedicated to improving Indonesia’s position in the aerospace industry in order to provide to Indonesia a new gateway that they can be proud of.

Plunged into a vicious circle of uncertainties with a weak and volatile currency, Indonesia’s government had lot of difficulties to find way to protect our investors from a series of financial turmoil and a serious intervention from the Central Bank to bolster the rupiah revealing a negative sentiment on the emerging market.

North Bali International Airport will require a large amount of investment to develop Bali’s infrastructure and surrounding regions to maintain a high level of growth or improve their regional supply chain, tourism and trade.

Committed to protect our assets and our investment due to growing volatility of Indonesia’s economy, our board agreed to retire any participation to the North Bali International Airport to avoid any financial exposure of our investors’ assets.

Regarding our project, we announce through this press releases that our design, masterplan and financial scheme remains the intellectual property of Kinesis Capital and will require an agreement with our legal division if the government acts to engage the project following our offshore development scheme.

Media Relations

Eva Dubois Meulier

+1 514 426 6156

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