CKH HOLDINGS Panama Port Company: The Panamanian government is involved in illegally entering private storage facilities to seize property, undermining due legal process

CKH HOLDINGS (00001.HK) announced that its Panama port company stated that on February 26, the Panamanian government took more extreme actions by forcibly entering a private storage facility containing proprietary information and materials protected by legal privilege related to ongoing legal proceedings, without any prior notice, and forcibly seized property belonging to the Panama port company. This behavior demonstrates that the Panamanian government is willing to undermine due legal process in advancing its takeover actions.

The Panama port company also indicated that the Panamanian government is involved in spreading false information in an attempt to divert attention from its actions to forcibly take over the Balboa and Cristobal container terminals and occupy the assets of the Panama port company, masking the adverse consequences caused by its illegal, opaque, and uncoordinated actions. The government continues to engage in illegal actions and has made serious false statements that harm the rights and interests of the Panama port company and its investors.

The Panama port company emphasized that the actions and statements made by the Panamanian government clearly confirm its intention over the past year to systematically target the Panama port company, its investors, and the franchise agreement through a series of national actions, including manipulating legal processes, aiming to destroy the franchise agreement. It also stated that the government's orders to occupy the assets of the Panama port company and forcibly take over the two container terminals, using extreme administrative decrees as a legal basis for expropriation, are not in accordance with the directives of the Supreme Court.

The Panama port company believes that the Panamanian government has failed to comply with its obligations under constitutional, contract, and international law, including those concerning investment protection, due legal process, and legal stability, indicating that it reserves all relevant rights regarding the crisis caused solely by the Panamanian government