Panamanian authorities have initiated an audit of Panama Ports Co., a subsidiary of Hong Kong billionaire Li Ka-shing’s CK Hutchison Holdings Ltd., which operates two ports adjacent to the Panama Canal, according to Bloomberg. The investigation, led by the comptroller’s office, aims to ensure the “efficient and transparent use of public resources.”
The move follows President Donald Trump’s renewed claims that China has influence over the canal and his pledge to take control of the strategic waterway. Trump’s allegations, which Panama’s government denies, have drawn attention to Hong Kong companies’ growing vulnerability to geopolitical risks as U.S. policies tighten against perceived Chinese influence.
The audit also seeks to review compliance with a 25-year concession agreement granted in 1998, renewed in 2021. Comptroller General Anel Bolo Flores cited concerns about insufficient revenue sharing despite increased cargo volumes.
CK Hutchison’s regional ports business, a key profit driver, could face heightened scrutiny amid escalating U.S./China tensions. Meanwhile, Panama’s President Jose Raul Mulino reiterated the canal’s sovereignty remains firmly under Panamanian control.
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