A COMPANY that guaranteed a spa business that later went bust has issued new shares to compensate United Overseas Bank (UOB) and Malayan Banking (Maybank) following a court order.

Abterra, a minerals firm formerly known as Hua Kok International, provided UOB and Maybank a corporate guarantee for banking facilities granted to a subsidiary.

That subsidiary, World Spa Industries, was under receivership at the time.

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