Deals
Panama Raises Pressure on CK Hutchison With Port Accusations
The Port of Balboa, at the Pacific entrance of the Panama Canal in Panama City.
Photographer: Walter Hurtado/BloombergThis article is for subscribers only.
Panama’s top auditor accused port operator CK Hutchison Holdings Ltd. of wrongdoing, providing a potential pathway for the Central American country to wrest control of canal facilities caught up in a diplomatic tug-of-war between the US and China.
Panama Ports Co., part of Hong Kong-based Hutchison’s far-flung operations, failed to obtain required approvals for a contract extension in 2021, and owed millions in dues, Comptroller General Anel Flores told reporters Monday following an audit.