Rafe Fletcher

Founder of CWG | Columnist @ConHome | Politics, Markets & Sports | 🇬🇧 in 🇸🇬

[Rafe Fletcher @fletcher_rt]

Jensen Huang is the best spokesperson for Trump’s AI bull narrative. Can talk in a normal and folksy way about why it will benefit America. Will be a big loss if he goes when Dems already seizing on anti-AI feeling.

[Rafe Fletcher @fletcher_rt]

SIA quadruples quarterly profit. But much of gain from Air India losing less. Because it flew less, not any great turnaround story.

Air India still a burden on SIA - seen as premium in Indian domestic mkt that thrives on low fares & ramshackle by discerning intl fliers.

[Bloomberg @business]

Singapore Airlines returned to profitability in the second quarter as strong travel and cargo demand helped temper elevated costs https://t.co/GklRrRxiqr

[Rafe Fletcher @fletcher_rt]

The great thing about honey pots is that they appeal to two parts of the male ego:

1) A pretty girl likes you

2) You're powerful enough to spy on

[Rafe Fletcher @fletcher_rt]

Man Utd has been terrific biz for Glazers. They've realised 5x their initial capital plus 12x in valuation.

Fans will hate them more if they find cash for Al-Ittihad. But w. PIF downgrading sport in 26-30 strategy, a good bet on unloved asset in league where rev and viewers⬆️

[Walter Ude @Udewalter_]

🚨 BREAKING: The Glazer family has officially submitted a takeover bid to acquire Saudi Pro League giants Al-Ittihad alongside Saudi businessman Wael Jamjoom (Al-Riyadiyah)
They are competing against an alliance featuring Crystal Palace co-owner Joshua Harris and a frontrunning local bid led by the bin Mahfouz family.

While Manchester United rot in 18th place in the Premier League and Old Trafford falls apart, the parasites are actively deploying capital to buy Saudi clubs and expand their multi-club empire. No money to invest in United's infrastructure, but endless funds for new sports projects. Absolute disgrace. Sell Manchester United and leave forever! 🔴 #GlazersOut #MUFC

[Rafe Fletcher @fletcher_rt]

Malaysian PM Anwar Ibrahim blows investment talks as he compares Taiwan to a breakaway Malaysian state.

Malaysia needs delicate diplomacy to make its data centre economy work -
Taiwanese chips, American GPUs & Chinese demand.

Anwar has pissed off one part of the trinity.

[Taiwan News @TaiwanNewsEN]

Taiwan cancels trade talks with Malaysia after Anwar's 'one China' remarks
https://t.co/if7a1De7ue

[Rafe Fletcher @fletcher_rt]

@Udewalter_ Maybe not on the pitch, but they certainly know how to enrich themselves!

[Rafe Fletcher @fletcher_rt]

In the AI race, Singapore is sometimes painted as turning a blind eye to a bit of sanctions busting to profit as a hub.

But in the Nvidia case, seems it was a lot more interested than America in impropriety - detaining Alice Huang last year while DOC dallied.

[Rafe Fletcher @fletcher_rt]

Papuk Indonesia's proposed Batam ammonia hub is another attempt to cut Singapore out.

But Jakarta wilfully misunderstands Singapore's role as a middleman. Believing it simply profits from selling Indonesian resources.

If it was that easy, why doesn't Indonesia sell all its exports direct? Because its profiteering "neighbour" supplies the trade finance, law, insurance, and capital that actually creates a market.

Batam is only 20km from Singapore. If it were a matter of geography, it would already be a hub.
But Singapore became the world's biggest ship-refuelling port precisely because it avoids Jakarta's kneejerk short-termism. Its reputation is built over 50 years of predictability.

Compare that Indonesia's caprice: declaring a state export monopoly in May, then rowing back within weeks. Or cutting gas to Singapore mid-contract last month.

Resources are useless if counterparties can't trust you.

[Rafe Fletcher @fletcher_rt]

https://t.co/3U9s5K5yH8

[Rafe Fletcher @fletcher_rt]

Britain wants European levels of welfare with American levels of taxation.

One fix Westminster won’t touch: zero-rated VAT, which costs the Treasury an estimated £70bn a year.

Why it's time to bring back the pasty tax 🧵

[Rafe Fletcher @fletcher_rt]

Osborne’s pasty tax was quickly shelved. But Britain can’t fund European levels of welfare with American levels of tax forever.

If there's no appetite to cut spending, it has to raise revenues somehow.

Full article in The Otium Den👇

[Rafe Fletcher @fletcher_rt]

Clearly they do. It’s the third most visited city in the world. And I don’t think safety and efficiency are the only metrics for curious people.

But I’m not saying everything is brilliant there. My point is that Khan is ignoring the rife petty crime and blaming disinformation instead.

[Rafe Fletcher @fletcher_rt]

An Aussie pal in Singapore asked me if it was safe to go to London. And she’s not precious.

That kind of concern is out of proportion - it’s fine as major cities go as long as you’ve got common sense.

But the impression isn’t the result of some pernicious disinformation campaign. It’s the product of people seeing the proliferation of petty crime - from jumping barriers to snatching phones - without any fear of consequence.

Those little incidents don’t get recorded in Khan’s crime stats. But its effects do among the millions who witness them. And that’s why people believe London is a lawless city.

[Disclose.tv @disclosetv]

NOW - London mayor Sadiq Khan says that social media calling London a lawless city is disinformation and "nothing could be further from the truth."

[Rafe Fletcher @fletcher_rt]

Web of conflicting interests therefore prevents America enforcing chip restrictions:
- Singapore's neutrality means US can't impose its regulations more stringently.
- Malaysia wants the data centre investment.
- Nvidia wants the revenue.
- America can't police remote access.

[Rafe Fletcher @fletcher_rt]

Espionage aside, whole episode shows up futility of current US chip controls.

- Suspected spy, Alice Huang, became MD of Singapore incorporated Megaspeed in March 2023.

- Megaspeed was previously known as 7Road International & was part-owned by Chinese govt.

- Along with the name change & Huang appointment in 2023, its shares were transferred to Huang Le Ltd, a BVI entity.

- Then in November 2023, Huang Le Ltd sold Megaspeed to a Singaporean shell co. owned by Singaporean Tan Yong Pong.
Now it has degrees of separation from China: BVI - Singapore. 🧵

[The Kobeissi Letter @KobeissiLetter]

BREAKING: Nvidia, $NVDA, CEO Jensen Huang sends a company-wide email regarding his recently reported relationship with a Chinese spy.

[Rafe Fletcher @fletcher_rt]

- In July 2025, Washington enforces permits on the export of high-performance AI chips of US origin.
But that only covers chips leaving Malaysia.

- Chinese firms can still rent the chips' computing power through the Malaysian data centre. And it's reported that Megaspeed rents capacity to Alibaba.