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Autoscale Resources Limited

Raking muck, Part 4
We take a deeper dive into the transactions of Inno-Tech (8202), and call on the SFC to investigate. We also call on the regulators either to scrap the requirement for "independent" financial advisers in listed company deals, or make it work by randomly assigning them through a jury pool system. The current system of opinion-shopping to IFAs of Last Resort is a waste of investors' money and provides false comfort. (7-Mar-2012)
Inno-Tech (8202) sells 56% of Autoscale for HK$3.14m
Company announcement, 16-Feb-2009
The owner of the purchaser is not disclosed. The stake was acquired from directors of Inno-Tech for $58.97m in 2007. Based on the underlying share price of China Health Care Corp, the stake should be worth about HK$6m.
Inno-Tech (8202) buys 56% of Autoscale Resources Ltd from Inno-Tech directors.  Circular
Company announcement, 7-Mar-2007
For HK$58.97m, satisfied with 351m shares (39.84%) of Inno-Tech @$0.168. Autoscale had net liabilities at 30-Sep-2006 of HK$0.16m. It owns 37.71% of UPMG, a hospital management group which lost HK$29.5m in the year to 30-Sep-2006.

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