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Myanmar Crisis

Peninsula Hotels assesses $130m Yangon plan amid coup turmoil

Luxury chain expects another operating loss this year due to pandemic

The former headquarters of the old Myanmar Railway Co. is being transformed into the Peninsula Yangon. (Photo provided by Hongkong and Shanghai Hotels)

HONG KONG -- Hongkong and Shanghai Hotels, operator of the upmarket Peninsula hotel brand, is reassessing its project in Myanmar's largest city in the aftermath of the military coup and continuing bloodshed that has thrown the country into turmoil.

The Hong Kong-listed premium hotel chain said in its annual earnings announcement on Wednesday that it has "noted the recent violence and chaos with great concern, and we continue to evaluate both the immediate actions required and the longer-term decisions that need to be made in respect of this project."

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