The rationale for the winners in Singapore, South Korea and Sri Lanka.

We are setting out the rationale for the choices made in our Country Awards for Singapore, South Korea, Sri Lanka, Taiwan, Thailand and Vietnam.

As creditors like BNP Paribas press the Singapore-listed firm for payment, Hyflux is racing against a debt restructuring deadline to find a new white knight.

Hyflux faces fresh potential claims over its plant in Algeria, while the Singapore state utility board and Maybank are taking over its Singapore plant.

Investors and creditors risk losing much of their money in Hyflux following the cancellation of a controversial plan to rescue the troubled Singapore-listed company.

The distressed utility group, already facing potential legal action in Algeria and from retail investors at home, is now squabbling with two would-be Indonesia white nights.

Hundreds of retail investors have opposed a plan by Hyflux to restructure its debt, and some retail investors are contemplating legal action against the Singapore-listed company's board.

The city state of Singapore is taking steps to improve retail safeguards following a spate of defaults in its bond market. But is there more stress to come?

The water treatment firm sold the country’s first Singapore dollar perpetual bond since April.

Why FinanceAsia editors chose the award-winners. Day 2 covers Korea, Malaysia, the Philippines and Singapore.