CKH Holdings Plunges Over 5%! Foreign Ministry Responds to Panama's Port-Related Ruling

Deep News01-30 20:45

On January 30, Foreign Ministry Spokesperson Guo Jiakun presided over a regular press conference.

A Bloomberg correspondent inquired that Panama's Supreme Court has announced the contract authorizing CKH Holdings to operate port terminals in Panama is invalid.

These two terminals are part of a portfolio of 43 port assets that CKH Holdings is attempting to sell, with a potential buyer consortium including the US-based BlackRock and China's COSCO Shipping.

When asked for comment on the ruling and whether it would impact the ongoing negotiations for the related transaction, Guo Jiakun stated, "I believe you have noted that the relevant company has immediately issued a statement indicating that the ruling contradicts the laws under which Panama approved the relevant concession, and the company reserves all rights, including legal proceedings."

Guo Jiakun further said that China will take all necessary measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises.

On January 30, the share price of CKH Holdings fell by over 5% at one point during trading; by the market close, it was quoted at HK$63.25 per share, with a turnover exceeding HK$1.1 billion.

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