Forward Contract on Jafferjee's denial

Although Jafferjee now denies that he made the comment referred to by this columnist, what he forgets is that this columnist used a quotation that was clearly attributed to Jafferjee in a daily newspaper. If Jafferjee wished to deny the comment, he should have done it at the stage he was first quoted, and not many weeks thereafter.

In any event, from the text of his letter, it is clear that he is keen to break up the EPF funds and place it under the management of private Unit Trusts. This position is consistent with the philosophy of the anti-China MP, who is also on a crusade to break up the EPF and place it under the management and control of the private Unit Trusts.

For their misfortune, however, the collective poor performance of the Unit Trusts was exposed a few weeks ago, and it is likely that all these break-up-the-EPF activists are now licking their wounds, because the performance of the Unit Trusts do not in any way, support the claim that they should be entrusted with any EPF public funds.

Finally, if Jafferjee wishes to disassociate himself with the UNP now, that is his privilege. However, that is more like the proverbial 'abandoning the sinking ship by the time-serving rats'.