implementation of strategic measures in reducing our fixed costs in our continuous effort to survive in the difficult period currently. Also, the Group is taking full advantages from the various stimulus packages

that are able to adapt themselves are more likely to survive and outperform their counterparts. In anticipation of such developments, VGI was the first company in the market to seize the opportunity to

effectively. In this exciting environment, companies that are able to adapt themselves are more likely to survive and outperform their counterparts. In anticipation of such developments, VGI was the first

ensure resilient cash flow and profitability. Effective strategies and business plan together with cooperation from business partners and employees would encourage the Company to survive the crisis and

Oster’s (2019) testing for coefficient stability. Our results survive all the robustness checks and thus appear to be strongly robust. Therefore, our results likely reflect a causal effect, rather than a

to survive. They may need to shift to automated production processes and/or focus more on research and development to create higher value-added products and services. They will also need to improve