Li Ka-shing-backed conglomerate quantifies impact of Panama port loss
Net profit from recurring operations grew by 7 per cent to HK$12.58 billion in the first six months of the year.
Quick Look
In its half-year financial results, a Li Ka-shing family-backed conglomerate quantified the impact of losing its Panama ports after the government nullified an operating contract and took over assets in late February.
AI-generated summary
Why It Matters
The Panama government nullified an operating contract and took over port assets in late February.
In its half-year financial results released on Thursday, the Li Ka-shing family-backed conglomerate for the first time quantified the impact of losing the ports after the Panama government nullified an operating contract and then took over the assets in late February.
The conglomerate’s net profit from recurring operations grew by 7 per cent to HK$12.58 billion in the first six months of this year compared with the same period in 2025.
Including a one-off gain of HK$14.22 billion largely from selling telecom assets, the net profit skyrocketed to HK$26.80 billion in the first half of 2026 from HK$852 million a year ago.
Overall throughput fell by 1 per cent year on year to 43.6 million TEUs, or twenty-foot equivalent units, in the six-month period, compared with 44 million TEUs in the first half of 2025.
“An 8 per cent growth in storage income mainly contributed by Oman and Pakistan was fully offset by a 1 per cent reduction in overall throughput as a result of reduced volume from Panama operations following their forced termination in late February 2026,” it said in a statement.
Open Questions
- Will the conglomerate pursue legal action over the Panama takeover?
