Member Info for Chaebol

Its great they highlight the expenditure, the group potentially expanded, most excellent, I would like the same transparency on income and would love a BOD member to give clarity on this 36 million usd deal, according to last published audited accounts Semnet in Sept, 2022 they had revs of 4 million ish so thats x9 on a 36 mill contract (impactful) and everyone's playing hot potato and crickets with it..... .

Billy, That is very interesting because according to ACRA site, last annual filing was published last year, 7th February

Filing of Annual Return by Local Company

Transaction no.

C240103635

Transaction date

07 Feb 2024

Lodger name

CHENG PEI LING

https://www.bizfile.gov.sg/buy-info/entity-details/200815115H you can search via extracts there to confirm last filing 7th Feb.

I am pretty baffled if you have financials from ACRA that state 44 million revs in December 2024 or is that a rocket reach theme?

He joined 6 years before semnet was formed. The guy is dedicated.

https://www.linkedin.com/in/jeff-brek-a94375247/?originalSubdomain=sg

Experience

SEMNET PTE LTD logo

Head of Information Technology

SEMNET PTE LTD · Full-time

Apr 2002 - Present · 23 yrs 7 mos

Leew I sold over 80% of my holding. I can keep a lousy 10k in this as a pure speculative punt.

On the lse forum I have as much right to say what I say as you do, even my pitiful 880k shares is probably a lot more than most here, and a lot less than others, I still have the right to info share here and post my musings, and ive been on a board before where everyone hated me and I ended up being right, so this is nothing new! when you try and say 'im trying to change the world' nope just would like a far better GST! Lose the dramatics plz x Who knows if they can improve i might even add.

Off to a hunt now lads, enjoy your Sunday !

Thanks Ian, Argo were fun times and a few of my detractors became personal friends, lots of emotions when big money is involved. I called that bang on with probably the most accuracy I’ve ever had in a stock. The long printed cash, but the leveraged shorts printed big money. I didnt lie I didn’t bs, most of my future predictions about argo not just the SP became reality. Meeting the ARGO BOD and having previous biz experience of Texas gave me huge clues they were way out of their depth, this BOD doesn’t even allow that scrutiny.

That stock hitting 37 p and then 7p allowed me to make loads of fook ups since then x;)

Its one of them damned if im in with GST, damned if im out. I can risk this to zero if need be...... but this BOD is not good, it is not transparent, almost devious in its info sharing

Bfd, semnet value has been nearly halved with 800k goodwill impairment, its given future guidance of a future drop in earnings and the IPO is stalled until arbitration is resolved.

Everyone then expects it to IPO as normal for 54 million usd. The current valuation from the auditors in semnet and the BOD is under 1 million usd.

Thats falling apart in my world.......?

Nice pivot. Used to own 5 million and funnily enough would have added 10 15 20 million of these last July if the BOD had been receptive to me, gawd knows how many big hitters they avoided or just ignored last year, I am now down to about 880k shares total, and that still makes me a small holder in this.

https://x.com/ChaebolChris/status/1977270687963165000/photo/1

Eh we all make mistakes don’t we Enki, paused IPOS and dissing me for printing the Singapore companies house website, Its so weird you get twisted in this…… All I’ve ever tried to do is confirm this 36 million deal between YP Silon and Semnet, Semnets previous leadership and Tone Goh were outright rude to me, Chris at Yp silon tried to help but he was clueless to the deal. Funny how Semnet has fallen apart and is now in arbitration. Couldn’t have predicted that sheet show. And then after this debacle everyone will expect Semnet to go ipo again as normal mmmmmmmm

I have been patient enough and now after 15 months the deal has been completed and semnets value halved, with future income being downgraded, that’s a different ipo proposition from November last year. Is the 400k refundable if no success? I truly think the next phase of this is to report all parties to the Singaporean police and the Monetary Authority of Singapore, I will get a case number and some form of progress and its better than trying to approach this board for answers, and I might get answers quicker than the 15 months I’ve been trying with the BOD, they should be able to confirm said deal with YP silon. I have attempted to contact senior management and leaders since July last year to give me some clarity on a deal that I’m now being told is already completed?

27 messages on Linkedin one reply from Shayne denying loss of value on bake, no substantive reply

59 emails to Tim 4 replies of varying non answers, twice told me he was not able to reply as he was at a funeral, even if I Ama ta funeral I would never tell someone I don’t know I was there, so unprofessional.

113 emails to senior leaders of GST and subsidiaries no replies.

3 email to the lord 2 replies.

Who knows how many phone calls but no one at GST head office ever calls back they take your name and number and will tell you that former leaders for the group that left ages ago will call you back. I managed to get that changed last year as Perth office was adamant Garies was calling me back and he had already left well before that.

A public company should not be this difficult to extract info from and no matter what anyone says you can’t hide 36 million dollars on a one off deal in Singapore. If that was the case china money launderers would be all over it and wrecking Singapore as we speak. Singapore has good laws followed mainly from our law andI just don’t understand why our board is so shy.

Anyone going to Singapore for the AGM?

Didn’t your mentor tell how to investo

and no.............He taught me how to sell...... He was of the mindset that 99% of retail clients were completely uneducated when it came to investing. Maybe he used stronger language in his description x;)

Rent free Billy rent free.........Wouldnt have yoou down as a voyeur........I am Just trying to verify the BOD deals, its crazy you all get so pickled with it.

The same craziness happened on the Argo board and like wally used to say Trust but verify.

I cannot verify much of anything with this firm.

75% percent down on the year is enough FUD in itself. Something is going seriously wrong this year here.

Looyd,

But its enough to pause the IPO whatever the arbitration is, if it was miniscule we would see them roll on regardless, writing down the value of semnet playing down sement future income and after all that, they still worth 54 mill lol its getting surreal with this mob....... it will be interesting to see a detailed IPO filing with a 54 million USD valuation. I think semnet will go into the ether and be ignored like it was in its March 2025 GST corporate update. They better hope they have something else for retail to focus on, but semnet ipo and bake purchase is what sent this off, so its a shame it could take upto 14 months for arbitration to be resolved. So unless mica license 'Application in progress' and EMI license being 'pursued' come off the lack of sement ipo infomration will be detrimental to this sp, 400k paid last November for HOT money tied up for 2-3 years....... its all getting a bit silly......

As investors i think we all care about 54 million usd and 2/3rds would be invaluable to the group and make us way more credible, that this 36 million contract has so much obfuscation in the way doesnt bode well for an ipo listing or anywhere near the 54 million USD valuation.

So i am sure you care Enki, you're just being stubborn....

Hope, cares, doesnt care lol if sment got a 54 million ipo this would moon, keep digging Enki, each post gets better from you x;)

a few hours earlier.....

Enki

Today 11:06

Posts: 2,183

Price: 0.75

No Opinion

Lloyd , we do need clarity on the Semnet Nasdaq listing also. If the Arbitration relates to delays here, which I hope not , is the listing still proceeding as the AR gives glowing reports about Semnet and its performance?

They seem to be giving Arbitration as a cover for not saying anything at all. Whilst we have not really had semnet priced in , our other activities should show promising figures for our pillars in the interims.

I might draft an email to Chris as chris has suggested in the next few days.

Lol doesnt care x peace gnite, god bless.

Thanks for showing me how absurdly stupid you are today and this evening , you didnt even know the ipo was paused until I told you earlier..... and now youve confirmed that youve never visited the singapore biz site, thanks.

and now you dont care, so tadar......x

The financials arent available under the business profile for 5.50 you absolute berk

It's a big mess tho.......they've drew down the value of the investment to less than a million, paid another 400k to sign HOT with TRIDENT.

As soon as arbitration ends, everyone will want the IPO and somehow that 1 million new semnet valuation will become 50 odd million again lol its all getting a bit unreal......

I don't thisk Chaebols ibdicated website is much use on this one.

Have you had a few sherbets, you do know what that website is right? You have already shown me that youve never used it but understand what that website is before you decide to ridcule me, unfortunately you have to pay for items on the Singaporean site but thats the way the cookie crumbles. One day you might even thank me again.....

Overall Platform (BizFile+): Purpose: A free (for basic searches) online hub for registering businesses, filing annual returns, checking entity details, and accessing public records. It's mandatory for Singapore companies to update info here, and it's super useful for due diligence, like verifying a company's legitimacy before a deal.

Key Features: Search by UEN (Unique Entity Number), name, or sector; view filings (e.g., annual reports, changes in directors); buy detailed reports (e.g., $5.50 SGD for a full business profile PDF with financials and officers); and even e-file documents.

Who Uses It?: Businesses, lawyers, investors, or anyone vetting partners. Public access is limited to protect privacy—full deets often require payment or login.

Enki,

https://www.bizfile.gov.sg/buy-info/entity-details/201917516Z

click on information products on the left hand side, then click on extrtacts you will be prompted for what information you wish to extract, on extract category click on Annual filings for the last 10 years and none can be found.They havent filed accounts since inception, they have filed the exemption of providing accounts based on its small income. Only 30k usd filed under the company which is small for Singapore, how on earth does this small company do this deal and then turn it into a phantom. Very strange.

I know you rampers have got no real money x;) So i wouldnt ever wait for any of you to spend cash on your due diligence...... I would have bought it already if it was available x;)

YP silon small company https://www.bizfile.gov.sg/buy-info/entity-details/201917516Z

Lloyd has confirmed with Tim. Its crazy we still cannot confirm this publicly.

Lloyd88 Premium Member

Posted in: GST

Posts: 7,010

Price: 0.75

No Opinion

RE: Arbitration's been going on too long. what are the odds it goes to court?10 Oct 2025 20:22

Chaebol

Tim told me the deal 100% happened the 36million contract but was accounted for prior to the acquisition, due to it being a one of contract (sounds like a single sale) but the company still benefited from it (low margin order assumed)

If you never own something you don't have to account for it.

Sorry, I respectfully disagree.

Under IFRS 15, which governs revenue recognition for contracts like Semnet’s, the company must account for the $36M as revenue over the contract’s term, tied to performance obligations (e.g., delivering cybersecurity monitoring or SOAR services). This isn’t a free pass,Semnet likely incurs significant upfront costs (staffing, tech infrastructure, or third-party licenses) to fulfill the contract, hitting operating expenses and potentially squeezing margins early on. These costs are very much “accounted for” on the income statement, even without owning assets.

Revenue and costs from its $36M Ypsilon contract, even without owning assets. This impacts their P&L through revenue recognition and opex, plus potential balance sheet effects if commitments trigger SFRS(I) 16. Non-ownership doesn’t erase these obligations.

Your suggestion that “if you never own something, you don’t have to account for it” carries a faint echo of truth in an agency scenario, but it falters under the weight of Singapore’s accounting rigor. Even if Semnet Pte Ltd were merely brokering the $36 million one-off cybersecurity contract with Ypsilon Technology Pte Ltd as an agent.Under SFRS(I) 15—Singapore’s adoption of IFRS 15, mandatory since 2018—an agent facilitating a deal recognizes only their commission, not the full contract value. If Semnet were brokering, say, a SOAR platform deal for Ypsilon, they’d account for a fee, along with costs like staff or legal fees, which hit the income statement with unyielding precision. Deferred revenue or liabilities may arise if funds are held temporarily, and any leased assets for facilitation would trigger SFRS(I) 16’s right-of-use accounting .Far from escaping the books, even an agent’s role demands meticulous tracking. A $36 million deal, even brokered, is a material event for Semnet, drawing investor scrutiny to revenue quality and margins. In reality, Semnet likely delivers the services directly, amplifying the accounting impact. I’d be intrigued to hear your view, do you see them as agents here, or is there another angle?