SINGAPORE (Mar 13): Hong Pian Tee, an independent director of Yanlord Land Group, nearly doubled the number of shares he held in the China-based developer, which is now trading at near its 52-week-low.

On Feb 28, Hong bought 194,800 shares for $225,968, or an average of $1.16 each. On March 2, Hong bought another 324,000 shares for $375,840 or an average of $1.16 each. Besides his own direct stake of 614,500 shares, Hong has a deemed stake of 224,000 shares which is held under his wife’s name. Therefore, Hong now has a total of 838,500 shares, which translates to 0.043% of the company.

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