China Health Care Corporation

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)
China Medical Ltd v Autoscale Resources Ltd
HK Court of First Instance, 15-May-2009
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) subsidiary Autoscale injects UPMG into US shellCircular
Company announcement, 25-Jan-2008
The shell was later renamed China Health Care Corporation.

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