Embattled Singapore water treatment company Hyflux Ltd.’s survival is looking shakier as disagreements with its rescuer deepen, Bloomberg News reported. Hyflux said in a filing that it disputes certain assertions by SM Investments, the consortium of Indonesian businessmen that had agreed last year to take a majority stake in the firm. At the same time, SM Investments is disagreeing with some terms of the restructuring plan put forward by Hyflux, the filing shows. The disputes heighten the drama of the catastrophic slump of the once-vaunted water and power company.

Alibaba Group Holding Ltd. may get its cheapest dollar-denominated syndicated loan ever as it negotiates with banks to amend terms of its existing $4 billion borrowing, Bloomberg News reported. The Chinese Internet giant wants to cut the interest margin of the facility that it signed in May 2016 by 25 basis points to 85 basis points over Libor, said people familiar with the matter. That would be the cheapest rate ever for Alibaba, Bloomberg-compiled data show. It’s also the lowest margin among outstanding loans of local peers Tencent Holdings Ltd. and Baidu Inc, according to the data.

Emotions are running high among some Hyflux Ltd. retail investors who stand to lose almost everything in the collapse of Singapore’s once much vaunted water-treatment company, Bloomberg News reported. The frustration has prompted some of them to organize a protest on March 30 over a steep haircut imposed by the company under its S$2.8 billion ($2.1 billion) debt restructuring plan. The Business Times published a letter from a reader calling on Singapore to nationalize the plant, saying Hyflux may be worth as much as a commodity trader that got government support in 2014.

Dire warnings about the risks from China’s debt build-up have existed for nearly a decade though the crisis that many expect has yet to arrive. But with the world’s second-biggest economy growing at its weakest pace since 1990 and US tariffs adding pressure, investors are still nervous, the Financial Times reported. “Most countries that permit rapid credit expansions face financial crises or a sharp slowdown in the economy as risks in the financial system emerge,” says Logan Wright, director of China markets research at research provider Rhodium Group.

China’s most prominent development bank has been noticeably low-profile lately, a Bloomberg View reported. For the last decade, the 16 trillion yuan ($2.39 trillion) China Development Bank, and its less-muscular cousins Agricultural Development Bank of China Ltd. and Export-Import Bank of China, were on the forefront of every major stimulus push. In 2008, CDB financed the 4 trillion yuan spending pledge by the Ministry of Finance, its former controlling shareholder.

Cracks are showing in Southeast Asia’s credit markets as struggling companies in troubled industries seek to repair their balance sheets, according to Rajah & Tann Singapore LLP, which manages the largest network of corporate lawyers in the region, Bloomberg News reported. The law firm, which has handled local units of Lehman Brothers Holdings Inc. and MF Global Inc. in their bankruptcy cases, said a slowing Chinese economy and more risk aversion among alternative capital providers will make it more challenging for some companies to meet maturing obligations.

Malaysian billionaire T. Ananda Krishnan’s Bumi Armada Bhd. is nearing an agreement for a loan of around $500 million, people with knowledge of the matter said, in a deal that will give the embattled energy firm more time to restructure, Bloomberg News reported. Banks are finalizing details of a five-year credit facility, according to the people, who asked not to be identified because the information is private. The funds will be used to refinance existing debt that matures in May and for working capital, one of the people said.

The cost of insuring exposure to Turkey’s sovereign debt soared to a six-month high on Monday, after the country’s financial regulators opened probes into JP Morgan and other banks accusing them of providing misinformation that stoked FX volatility, Reuters reported. Turkey 5-year credit default swaps (CDS) jumped by 27 basis points (bps) to 426 bpd - levels last seen in September in the wake of the summer selloff, data from IHS Markit showed.

Cash-strapped Jet Airways Ltd on Monday took major steps towards closing a rescue deal with its lenders, with Chairman Naresh Goyal and his wife stepping down from the airline’s board, Reuters reported. Laden with debt of more than $1 billion and faced with an evaporating market value, Jet is banking on a bailout by its lenders as it became unable to pay banks, suppliers, pilots and lessors - several of whom have started terminating leases with the carrier.

Many of the recent debates about Chinese takeovers and investments in Europe have been conducted in the opaque language of security. Spooks in Britain and Germany openly worry about the consequences of allowing Chinese groups such as Huawei into their 5G mobile networks. A recent delegation from Berlin even visited China to explore the intriguing idea of a no-spying pact.