AsiaPhos website

Singapore-listed AsiaPhos on Friday said Non-Executive Chairman Pian Tee Hong purchased shares in the phosphate mining company.

Pian bought 368,100 shares of AsiaPhos at S$0.07543 per piece via a market transaction, the company said in a regulatory filing. The total value of the purchase was about S$27,766.

Pian's interest in the company rose to 0.1565 percent from 0.1206 percent earlier.

Shares in Asiaphos have been under pressure after the company last week announced that it received a request for undertaking - around November 21 - to vacate and rehabilitate two of its mining sites within the Jiudingshan Nature Reserve in China's Sichuan Province.

AsiaPhos said it does not intend to sign the undertaking and may have to pay a compensation amount of 2.2 million yuan (S$449,680) for the mines if rehabilitation works are not completed by November 30.

The company focuses on the exploration of phosphate mining properties, processing and refining phosphate rocks, and producing phosphate based chemical products.

As at 0500 GMT, AsiaPhos shares were down 2.7 percent at S$0.07. About 1.5 million shares changed hands compared to its 30-day average volume of 6.6 million.