Li Ka-shing’s CK Hutchison Holdings has defended the contract that has allowed it to run two ports at the Panama Canal since 1997, saying the concession was “validly executed and approved by law” and denying it failed to pay more than US$1 billion to the country, as had been claimed in a sweeping financial audit….
The Hong Kong firm whose management of two ports at either end of the Panama Canal sparked US President Donald Trump’s ire flouted the conditions of its contract, an audit by Panama’s authorities found on Monday. The audit found “many breaches” of the concession awarded to a subsidiary of ports giant CK Hutchison to operate…
A high-stakes deal for control over two of the Panama Canal’s most strategic port terminals has hit a wall of geopolitical and legal resistance, with mounting pressure from China and a constitutional challenge in the Central American country delaying its signing, potentially derailing the agreement. Hong Kong-based CK Hutchison had been set to finalise the…
BlackRock, the asset manager at the centre of a deal to buy US$23 billion in port assets from Li Ka-shing’s CK Hutchison Holdings, has about US$15.5 billion invested in Hong Kong and mainland-listed stocks through its China-focused funds, with its portfolios concentrated on technology and financial companies. According to its website, the world’s largest money…
Beijing’s top office on Hong Kong affairs has fired another warning shot over CK Hutchison Holdings’ Panama ports deal, reposting a sixth critical article which urges the conglomerate against acting “in concert with US hegemony” and to avoid making “historic mistakes”. The Hong Kong and Macau Affairs Office reposted the latest piece on Sunday, which…
Washington is “not surprised” that Beijing is unhappy about plans by tycoon Li Ka-shing’s CK Hutchison Holdings to sell its two Panama ports, the US State Department has said, after a Chinese market regulator launched an antitrust investigation into the deal. “We are aware of the comments made by China. It’s also no surprise that…
CK Hutchison will not sign a deal as scheduled to sell its port operations near the Panama Canal to a U.S. investor and Swedish shipping line. The Hong Kong conglomerate (OTC: CKHUF) controlled by billionaire Li Ka-shing on March 4 announced an agreement to sell control of its Hutchison Port Holdings marine terminals outside China…
Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing. 1. Myanmar quake strikes China’s belt and road heartland: how bad is it? The impact on a key Chinese energy corridor is being closely monitored after a deadly earthquake hit…
Hong Kong-based port operator CK Hutchison Holdings is reportedly delaying its sale of two ports on opposite sides of the Panama Canal to a U.S.-led consortium. The deal has not been called off, according to a report from the South China Morning Post. The transaction was initially expected to be signed on April 2, according…
By Rishav Chatterjee March 28 (Reuters) – Hong Kong conglomerate CK Hutchison, led by tycoon Li Ka-shing, will not sign a deal next week to sell its two strategic ports at the Panama Canal to a BlackRock-led group, the South China Morning Post reported on Friday. The deal was expected to be signed on April…