Avillion asserts beneficial ownership of Villa Cinta in Bali amid titleholder claim
Avillion Bhd says its subsidiary Avillion Hotel Group Sdn Bhd (AHG) has beneficial ownership of Villa Cinta in Bali, Indonesia, after advancing 29 billion rupiah (RM6.49 million) to former director Shirley Winarso in 2013 to acquire the property. The claim follows a letter from Winarso's solicitors
PETALING JAYA (Nov 6): Avillion Bhd said its wholly-owned subsidiary Avillion Hotel Group Sdn Bhd (AHG) maintains that it had acquired all beneficial interests in and rights of control over Villa Cinta in Bali, Indonesia, amid a claim by the property's registered titleholder over its occupation and use.
In a Bursa Malaysia filing on Thursday (Nov 5), the group said AHG had advanced 29 billion rupiah (about RM6.49 million) to PT Avillion Indonesia (PTAI) former director Shirley Winarso under a loan agreement dated March 18, 2013, solely to acquire Villa Cinta, including its buildings and immovable improvements. The advance formed part of the purchase consideration. Under the agreement, Winarso has no unilateral right to repay the loan, Avillion said.
The additional disclosure follows the group's Oct 30 announcement that PTAI, a 99%-owned subsidiary of AHG, had received a letter from Winarso's solicitors asserting her ownership of the land and alleging that PTAI's lease expired on Jan 15, 2026 without renewal. Avillion said PTAI has operated Villa Cinta's hotel business since 2013, while Winarso served as a director of PTAI from 2012 to 2026.
Avillion said AHG's position on its beneficial interests and control rights is based on the loan agreement and related legal documents. The arrangements include repayment on demand, rights and security interests relating to the property, and powers and authorisations concerning its management, disposal and encumbrance. The group said AHG had obtained a legal opinion from its Indonesian legal adviser on May 19, which concluded, based on the documents reviewed, that AHG is Villa Cinta's beneficial owner.
AHG informed Winarso on Jan 30 of its intention to dispose of the property, according to the latest filing. It subsequently received the letter dated Oct 13 from her solicitors setting out the allegations and claims. In its Oct 30 disclosure, Avillion said Winarso proposed deductions totalling nine billion rupiah from the outstanding loan principal. These comprised provisional claims of about 4.89 billion rupiah for unpaid rent, excess occupation, repairs and related costs, and a further proposed discount of about 4.11 billion rupiah on her loan repayment.
PTAI responded on Oct 29, disputing Winarso's assertions and claims and expressly reserving all its rights. According to the Oct 30 disclosure, Villa Cinta had a net book value of about RM11.2 million as at March 31. In that announcement, Avillion said no legal proceedings had been commenced against PTAI or the company as at that date, and no provision had been recognised for the matter. The group expected to incur legal and professional fees.
Avillion said the financial impact could not then be determined with certainty because the provisional claims remained subject to verification and adjustment. Based on the information available at the time, however, the board's view was that the matter had no material financial or operational impact on the group.
