Peninsula Hotels group says $130m Myanmar project still stalled

HONG KONG -- The operator of the upscale Peninsula Hotels chain said on Tuesday that it is unsure when it will be able to resume its $130-million project in Yangon, which has stalled since the military toppled the incoming democratically elected government three years ago.

The company said, however, that it had agreed with local partners to complete some basic groundwork ahead of the project's resumption, but it gave no timeframe.