Shares of Lim Kok Thay’s Genting Bhd tumbled on Friday, adding pressure on the Malaysian tycoon to shore up a cruise ship operator whose debt woes have rattled investor confidence in one of Southeast Asia’s biggest conglomerates.

Genting Bhd slid as much as 5.8% as of 9:40 a.m. in Kuala Lumpur, the most since March 23. Malaysia markets were closed for a holiday on Thursday. Cruise company Genting Hong Kong Ltd. announced late Wednesday that it would suspend all payments to creditors.

See also: Malaysian tycoon behind Genting Hong Kong puts fortune on the line, raising risk of a margin call

The Genting group has embarked on pay cuts and workforce reductions as the coronavirus pandemic halted demand for cruises while national movement restrictions kept people out of casinos and resorts. The Hong Kong cruise firm is linked to Genting Bhd through its chairman Lim, who owned 69% of the Hong Kong unit’s shares as of April 3.

Citigroup Inc. sees low risk of Genting group companies bailing out the Hong Kong cruise firm, though there’s “some reputational damage,” according to a note.

The biggest lenders to Genting Hong Kong’s syndicated loans are Malayan Banking, which fell as much as 1.8% on Friday and RHB Bank, which slid 1.6%. Genting Malaysia, which operates a casino and resort outside of Kuala Lumpur, slumped as much as 6.1%.