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Published on April 4, 2008

They include Finansa Securities, Globlex Securities, Phatra Securities, IV Global Securities, Thanachart Securities, Tisco Securities and DBS Vickers Securities (Thailand).

Finansa said Quality Houses planned to issue debentures worth Bt5 billion and increase its property fund's value from Bt8 billion to between Bt11 billion and Bt12 billion. This will help it reduce the debt-to-equity ratio from 1.4 to at least 1.

Finansa said Q House's debt-to-equity ratio could be reduced to 0.83 this year. With this view, it recommends "buy", with a target price of Bt3.05 apiece.

Globlex Securities said the developer would benefit from the new government's tax package.

Company revenue from the sale of residential projects will increase over the next two years, and with this outlook Globlex recommends "buy", with a target price of Bt3.30 apiece.

Somluck Srimalee

The Nation