The Panamanian government forcibly takes over ports owned by Li Ka-shing, and the Hong Kong SAR government strongly protests: disregarding facts and betraying trust!

On February 24, according to the Hong Kong Special Administrative Region (HKSAR) Government News Bulletin, John Lee Ka-chiu, the Secretary for Business and Economic Development of the HKSAR, formally lodged a protest with the Consul General of Panama in Hong Kong.

The HKSAR government expressed strong dissatisfaction and opposition to the Panamanian government’s forcible takeover of two ports operated by Panama Port Company, a subsidiary of Hong Kong’s Hutchison Port Holdings, and the revocation of operating rights, which breaches contractual principles. The government also emphasized its firm support for and protection of the legal rights of Hong Kong businesses overseas.

The government reiterated that the earlier ruling by the Supreme Court of Panama declaring the operation of the two ports unconstitutional was completely disregardful of facts and a breach of trust. The relevant company has filed and initiated arbitration procedures, but the Panamanian government’s forcible takeover of the ports yesterday severely damages the legal rights of Hong Kong enterprises and violates contractual principles. The HKSAR government condemns this reckless act.

The government again urges the Panamanian government to respect contractual principles, provide a fair and just business environment for local law-abiding enterprises, and ensure that the legal rights of businesses are not interfered with. Hong Kong companies operating and investing in Panama should receive fair and reasonable treatment and protections.

The government emphasizes that the relevant companies have invested heavily and created numerous jobs in Panama over many years. The recent ruling and the Panamanian government’s unreasonable actions damage the country’s credibility and severely undermine international trade rules.

On February 24, Cheung Kong (Holdings) Limited, a subsidiary of CK Hutchison Holdings, announced on its official website that on February 23, 2026, Panama time, the Republic of Panama (“Panama government”) forcibly entered and took control of the two container terminals at Balboa and Cristóbal ports operated by Cheung Kong’s subsidiary, Panama Port Company, and assumed administrative and operational control of the terminals. The representatives of Panama Port Company were also barred from entering these terminals.

Cheung Kong (Holdings) reaffirmed that the relevant ruling, the administrative decree issued by the President of Panama, the revocation of the concession rights of Panama Port Company, and the forcible takeover of the two container terminals are illegal. These actions pose serious risks to the operation, health, and safety of the Balboa and Cristóbal ports. The Panamanian government did not notify Panama Port Company of these actions nor did it consult with the company. The Panamanian government must bear responsibility for all damages and losses caused by its forcible expropriation.

In the afternoon of the 24th, CK Hutchison’s stock price continued to decline, falling by 2.65% as of the time of publication.

Source: Daily Economic News

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