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With COVID the non-appointment of a COO and those duties to be filled by someone performing the deputy CFO makes sense.
A smart money saving move, which in exception for post-COVID strategy is all that THL can do at this time. THL needs to establish if once borders open there will be a dribble or a wave of tourists, who they are likely to be and how they will respond.
I do not claim to be a marketing strategist but there is absolutely opportunity to bounce back after this with the right cost saving measures now and growth strategy when borders reopen.
Cash position is not an issue at this stage.
I move my sentiment to BUY.
