CKH HOLDINGS(HK:00001) 第一财经·2026-02-13 00:48Core Viewpoint - The article discusses the ongoing dispute involving Cheung Kong Holdings and the Panama government regarding the operations of the Panama Ports Company, emphasizing the legal actions taken to protect the company's interests and the potential implications of the Panama government's actions on port operations [3][5][8]. Group 1: Legal Actions and Notifications - Cheung Kong Holdings has notified the Republic of Panama under the investment protection treaty to safeguard its rights and has invited the government for consultations regarding actions affecting the Panama Ports Company [3][4]. - The company is pursuing arbitration procedures based on the applicable concession agreement, indicating a proactive legal stance in response to the government's actions [5][6]. Group 2: Government Actions and Implications - The Panama government has taken steps that may force the Panama Ports Company to cease operations at Balboa and Cristobal ports, including a recent announcement by the Panama Maritime Authority to rely on A.P. Moller – Maersk A/S for temporary management of the ports [6][8]. - The legality of the Panama government's actions is questioned, particularly following the Supreme Court's declaration of the 1997 Law No. 5 as unconstitutional, which has been the legal basis for the company's operations for nearly 30 years [5][8]. Group 3: Market Reaction - As of February 12, Cheung Kong Holdings' stock price fell by 0.86%, marking the third consecutive day of decline, with a total market capitalization of HKD 243.2 billion [9].