CK Hutchison will not hold earnings calls following port deal criticism

Clare Jim

Mon, Mar 17, 2025, 3:38 AM 2 min read

By Clare Jim

HONG KONG (Reuters) - Hong Kong-based conglomerate CK Hutchison, which is facing unit from Beijing authorities implicit a larboard woody with a BlackRock-led consortium, volition not clasp net conferences this week, 2 sources with cognition of the substance said.

CK Asset, a spot developer successful Hong Kong which besides has interests successful overseas inferior assets, told Reuters connected Monday it volition not clasp expert and media conferences.

"This is precise uncommon for a blue-chip institution not to clasp an net conference," said an expert briefed connected the matter, who declined to beryllium named due to the fact that helium was not authorized to talk to the media.

"The institution has not said thing since the larboard deal. The banal marketplace could presumption this negatively."

Both companies are owed to study their 2024 fiscal results connected Thursday. Neither provided the reasons for their decisions.

While CK Hutchison confirmed it volition not clasp a media briefing erstwhile asked by Reuters, it did not accidental whether it inactive planned to clasp an expert briefing.

They person held expert conferences for some their semi-annual and yearly results for galore years arsenic good arsenic media briefings for their yearly results.

CK Hutchison said this period it had agreed to merchantability astir of its planetary ports business, including assets it holds on the strategically important Panama Canal, to a radical led by BlackRock. It volition person much than $19 cardinal successful currency proceeds nether the deal.

U.S. President Donald Trump, who has called for the Panama Canal to beryllium removed from what helium says is Chinese ownership, has hailed the deal.

China's Hong Kong and Macau Affairs Office (HKMAO) connected Thursday reposted a commentary criticising the woody arsenic a betrayal of China, sending the conglomerate's shares sharply little the pursuing day.

The article, primitively published successful Hong Kong-based state-owned paper Ta Kung Pao, said the woody neglects nationalist interests and shows CK Hutchison is profit-seeking.

HKMAO connected Saturday reposted different Ta Kung Pao editorial successful which the insubstantial criticised CK Hutchison and said Hong Kong companies indispensable basal with China successful the look of what it called "U.S. hegemony".

(Reporting by Clare Jim; Editing by Joe Bavier)