Genting Bhd shares tumble on cruise firm debt woes

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.