This could work for businesses that have lost 20-50% of their revenue, but were into what, the third year of this? Do you really think a business that has lost virtually all of it's revenue can afford to continue paying 50% of it's fixed costs indefinitely? I doubt that very much.
Ironically, the guys that were operating month-to-month with virtually no savings made out the best.
It amazes me that so many people believe rich Thais are stupid.