Some Interesting Comments From MARC

My Dearest Moo Moo Cow,

I just came across this news article posted on the Edge: Downgrade credit rating trend in auto, property sectors to continue, says MARC

The comments made on the property sector is most interesting. Its vice president for fixed income research, Adi Asri Baharom made the following comments.

• On the property sector, Adi said MARC expected rising inventories and modest take-up rates were expected to heighten the risk of further downgrades.
  
  He said the exemption of real property tax gains (RPGT) was expected to primarily assist the performance of the high-end segment more than the low to mid-end and weaker players with high inventory levels and little balance sheet flexibility would see further downgrades.

How my dearest Moo Moo Cow?

Do you reckon a more cautious approach is needed?