WI - Malacca Sultanate Conquered by Siam or Majapahit

In OTL the Malacca Sultanate voluntarily became a protectorate and tributary state to Ming China, which protected Malacca from being conquered by Siam and Majapahit.

What if the Malacca Sultanate was unable to become a protectorate / tributary state as a result of instability in China, resulting in its conquest by either Siam or Majapahit?
 
To find out, let's look at the smoking ruins of Singapura...

In all seriousness, if their example is anything to go by, trade would be massively reduced in quantity but their location would still lend themselves to low-intensity settlement and exchange.
 
Would it have allowed Majapahit to last much long compared to OTL depending on how much of the Malacca Sultanate they conquer?

Additionally what impact would it have on Siam if they conquered the entire Malay peninsula?
 
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