Panama: Audit Findings on CK Hutchison Subsidiary Flag Contract Risks for Chinese Companies

Panamanian Comptroller General Anel Flores said April 7 that Panama Ports, a subsidiary of Hong Kong-based CK Hutchison, did not receive the necessary approvals to have its Panama Canal concession extended in 2021 while using tax-exempt subcontractors to reduce the amount it pays the local government, Bloomberg reported April 7....