CHINNEY Investments has increased its shareholding in its property arm Hon Kwok Land Investment Co to 50.01 per cent from 47.82 per cent through on-market purchases over the past few months. The company said the cost of the purchases in the medium-sized property developer was about $33 million. Hon Kwok has now become a subsidiary of Chinney. The operating results, assets and liabilities of Hon Kwok and its subsidiaries will now be included in the consolidated accounts of Chinney for the year ending March 31. Chinney managing director Herman Fung Man-hei, who is also managing director of Hon Kwok, said Chinney had no immediate intention to buy more shares in Hon Kwok. There had been no change in management, operations and listing status for both Hon Kwok and Chinney, he said.