The Truth Behind Iwan Sunito, CII Group, And One Global Capital

Photo: Special

JAKARTA - Iwan Sunito's investment offer through One Global Gallery in Indonesia was highlighted following the issuance of a CII Group Pty Ltd liquidation decision by the Australian District Court last month. The decision on liquidation was contained in the decision no. NSWSC 318/2025 has been reported to the Australian Securities and Investments Commission (ASIC) and published on March 28, 2025, through the official announcement of the Kangaroo State investment commission.

The decision also revealed that the funds provided by Iwan Sunito were only sufficient to pay the administrator's fees, without any guarantee of payment to creditors. This is said to trigger serious concerns about the true intentions in the CII Group restructuring process.

As previously known, Iwan Sunito, a well-known developer with the Crown Group business flag in Sydney, is aggressively promoting investment invitations to the Company's asset property in the country. In an article published by Kompas.com and several other media dated March 27, 2025, Iwan Sunito announced the successful acquisition of the One Global Gallery in Sydney. previously known as The Grand Eastlakes through his new flag, One Global Capital.

He claims that the asset value increased by more than 40 percent, with occupancy rates reaching 90 percent and potential dividends promising.

"With a value jump from One Global Gallery to more than 40 percent of the initial acquisition value, it is possible for us to distribute dividends to shareholders ahead of the original plan," Sunito said, as quoted by Kompas.com.

The acquisition of the One Global Gallery shopping center in Sydney, Australia, by an Indonesian developer, Iwan Sunito, in 2024 is claimed to have shown positive performance. The mall, formerly known as The Grand Eastlakes, recorded an occupancy rate of 90 percent. After the acquisition and rebranding process through the One Global Capital flag, this mall experienced a significant increase in rental rates.

According to Iwan to the media at the time, this condition had an impact on increasing mall value by more than 40 percent of the initial acquisition value. In addition, the company's recurring income has also increased, especially from the hotel sector which is integrated with malls.

The CII Group previously held a maximum of 50 percent stake in Crown Group Holdings. However, the court's decision marked the end of Iwan Sunito's legal involvement in the well-known property company.

Regarding investment in liquidated assets, the Financial Planner of My Financial Affairs, Rista Zwestika, once reminded investors to calculate the risk of losses to assets that are still in legal trouble such as being prosecuted in court, violating the rules, or other reasons.

"If a liquidated company occurs, you as a shareholder are in last place entitled to receive assets, after the company paid taxes, employees and paid off debts," Rista said, as quoted by the IDN Times recently.

Regarding the plan or attempt to request not to be liquidated, according to Peter Gosnell's report at Insolvency News Online (iNO) on April 9, 2025, it was revealed that Iwan Sunito's attempt to prevent CII Group's liquidation was rejected by Judge Ashley Black.

At that time Sunito appointed two administrators from Greengate Advisory, Patrick Loi and John Chand, who tried to postpone the liquidation trial so that Sunito could submit a rescue scheme (Deed of Company Arrangement / DOCA). However, the request is considered weak and does not support credible evidence.

"This application... even though it is conveyed in moderation and elegantness, cannot hide the fact that this request does not have a reasonable basis," said Judge Black.

According to the verdict, the $ 100,000 fund that Sunito put in the trust account was only sufficient to pay the honorarium of the administrator, not to pay debts to creditors. Finally, the court refused to postpone and appointed Michael Brereton and Sean Wengel of William Buck as the official liquidator to settle CII Group's assets and obligations.