The COVID-19 Impact

The outbreak of Novel Coronavirus (COVID 19) continues to progress and evolve. Therefore, it is challenging now to predict the full extent and duration of its business and economic impact. The extent and duration of such impacts remain uncertain and dependent on future developments that cannot be accurately predicted at this time, such as the transmission rate of the coronavirus and the extent and effectiveness of containment actions taken. The COVID-19 pandemic has thrown several successful business models into turmoil and brought the focus back on business continuity and community welfare. Our business strategy bolstered by smart procurement will convert this challenge into opportunities and lead to a sustainable future. The management has implemented various initiatives and has enough financial resources to mitigate the effect on the business of the company and expects to overcome any future impact on profits and operating cash flows due to the effects of outbreak.