CK Hutchison's Panama unit says it is coordinating with suppliers after port contracts canceled

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Hong Kong conglomerate CK Hutchison's Panama subsidiary is continuing to coordinate with suppliers after the Panamanian government canceled its contracts for the Balboa and Colon ports, the company said in a statement on Friday.The subsidiary, Panama Ports Company (PPC), has previously said that Panama had unlawfully occupied facilities and seized property. "The State also stated that PPC's arrangements with suppliers were concluded," it said in Friday's statement.

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