Hong Kong investors are reviewing their stakes in Panama amid a dispute over a concession held by a subsidiary of CK Hutchison to operate two ports in the country, the city’s leader has said, pledging to work with Beijing to push back. Chief Executive John Lee Ka-chiu on Tuesday also urged Panamanian authorities to ensure…
Hong Kong’s commerce minister has condemned a court ruling to annul CK Hutchison Holdings’ right to operate two ports in the Panama Canal – after summoning the country’s envoy in the city – warning the decision “seriously undermined” international trade rules. In a meeting with the Panamanian Consul General, Jose Ramon de Jesus Varela Fabrega,…
Panama is aiming to mitigate geopolitical risks and respond to US pressure by adopting a multi-operator model for its strategic canal after nullifying the concession granted to Hong Kong’s CK Hutchison to operate two of the ports, analysts have said. Panamanian President Jose Raul Mulino was reported to have vowed on Thursday that his country…
Hong Kong-based CK Hutchison Holdings is expected to move forward with selling its remaining port assets, despite Panama’s Supreme Court nullifying its contract for two terminals at either end of the country’s geostrategically vital canal, according to experts. But the effort by billionaire Li Ka-shing’s conglomerate to offload the rest of its ports would still…
The State Department said last month that it would “restrict US visas for Central American nationals … intentionally acting on behalf of the Chinese Communist Party” and who “knowingly direct, authorise, fund, provide significant support to, or carry out activities that undermine the rule of law in Central America”. “The United States, under the guise…
Hong Kong billionaire Li Ka-shing’s CK Hutchison Holdings has called for the rule of law to be respected after Panama took legal action to nullify its ports contracts, with the country’s leader also suggesting its operations be taken over by state partnerships. Legal experts said on Friday that the Hong Kong-based conglomerate could face “significant…
A state partnership would fundamentally alter the operating structure of two key Panama Canal ports and could trigger significant losses for Hong Kong billionaire Li Ka-shing’s CK Hutchison Holdings, which was facing mounting hurdles over a US$23 billion asset sale, experts said. The Hong Kong-based conglomerate is in the grip of a legal and political…
Hong Kong billionaire Li Ka-shing’s CK Hutchison Holdings has called for the rule of law to be respected after Panama took legal action to nullify its ports contracts, with the country’s leader also suggesting its operations be taken over by state partnerships. Legal experts said on Friday that the Hong Kong-based conglomerate could face “significant…
Panama’s chief prosecutor said on Tuesday that more than 160 actions have been taken so far in a high-profile investigation into alleged wrongdoing by Panama Ports Company, the unit of Hong Kong’s CK Hutchison Holdings that operates two Panama Canal ports, as the country finds itself in the crosshairs of a deepening power struggle between…
The head of a US congressional committee on Thursday, warned Panama over Chinese influence on the Panama Canal, following reports that leading Chinese state-owned conglomerates are bidding for port concessions there now for sale by Hong Kong-based CK Hutchison Holdings. In his letter to Minister of Maritime Affairs and Administrator of the Panama Maritime Authority…