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Investing.com -- Panama’s President Jose Raul Mulino indicated on Thursday that port operating contracts held by a subsidiary of Hong Kong-based CK Hutchison are unlikely to continue following an audit by the country’s Comptroller General’s office that identified issues with the original contract award.
While Mulino acknowledged that the final decision rests with the courts, he suggested the Panamanian government might pursue state partnerships to manage the ports currently under CK Hutchison’s operation.
Panama’s Supreme Court is currently handling two separate legal challenges to the existing contracts. One lawsuit seeks to have the contract declared unconstitutional, while the second asks for it to be nullified on grounds that it damages Panama’s national interests.
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