Hi RogueHere's my opinion mate.Follow the string of investments...

Hi Rogue
Here's my opinion mate.
Follow the string of investments from Mr Simon Loh and form your own opinion ;-)

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Sydney, May 12th, 2004
SkyNetGlobal to reap $6.5 Million cash for sale of South East Asian interests Under the Hotspot Roaming Agreement entered with Zelcrest, SkyNetGlobal will retain the exclusive right to market and sell services on the Singapore wireless network on an unlimited
usage arrangement for a period of 2 years starting from July 1st 2004. In consideration for 24
months unlimited access to the network, SkyNetGlobal will make a once off payment of $2.4
million comprising SkyNetGlobal ordinary shares
= $6.5 million in cash for 1st trance of (13,167,057 at 6.17c) = 313,501 shares at $2.60. =$812,409.00. (12-5-04) 5.7%
2nd trance =(25,730,836 at 6.17c) = 612,638 shares at $2.60 =$1,587,592.00. (30-6-04) 9.4%


Zelcrest holds 926,139 on 30-6-04 and injects $6.5 million. 15.1% of SKG

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SYDNEY 27th July 2004, SkyNetGlobal (ASX: SKG), today announced that the company has formed
a strategic partnership with Orion Gateway Pty Ltd. Under the terms of the partnership, Orion
Gateway will invest $1.6 million in cash into SkyNetGlobal for a 13% strategic stake
=$1.6 million in cash for 1st trance of 523,809 shares at $2.00 = $1,047,618.00. (27-7-04) 8.68%
Orion Gateway on market purchase $161,390.88. (3,031,000 at 5.32c) =72,372 shares at $2.23 (2-9-04) 1.2%
2nd trance =(12,685,473 at 4.75c) = 302,035 shares at $1.99 =$602,560.00. (8-9-04) 4.32%

Orion Gateway holds 898,216 shares and injects $1.761 million 14.2% of SKG
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08 Oct 2004 : Change in Substantial Holdings

Center Point assets “on market buy” (8,967,000 shares at 5c) 213,500 shares at $2.10 = $448,350.00. (8-9-04) 3.54%

Center Point holds 213,500 shares and injects $448,350.00. 3.54% of SKG

(These share were transfered to Orion Gateway on 21-7-05 giving Orion gateway a holding of 18.1%)

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SkyNetGlobal takes control of W Home SE Asia
SYDNEY 18 March 2005 - SkyNetGlobal Limited, dual-listed on ASX (“SKG”) in Sydney and on
AIM (”SKN”) in London, has signed agreements to acquire W Home Communications Sdn. Bhd. in
Malaysia and, separately, to take control of the exclusive technology and marketing rights
throughout the rest of South East Asia

SKG buys back W Home Communications Sdn, Bhd from Zelcrest with the issue of 1,250,001 shares.

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21-7-05 Change in Substantial holdings

YKH Holdings limited takes control of 1,309,621 shares 10.85% of SKG
This looks like a transfer of share from Orion Gateway/Center Point Assets to YKH Holdings all owned by Mr Simon Loh.
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The bottom line is this:

Zelcrest-Orion Gateway-Center Point-YKH Holdings are all owned by Mr Simon Loh.

Together these companies have injected a total of $8.7 million into SKG over the last 12 months
Together these companies hold a total of 3,287,856 shares at an average of $2.60 per share, the reason the average is so high is because Zelcrest only received $2.4 millon worth of shares for the injection of $6.5 million in cash.
Together these companies hold approx 28% of SKG. (based on YKH holding 1.3 million shares = 10.85%)

Mr Simon Loh has shown that he has a strong belief in the future of wireless home automation, but his investment of $8.7 million only has a market worth of $2.038 million based on the current market price of 62c.
The rumour that SKG will buy e-pay Malaysia makes sense because of Simon Lohs desire to protect his investment, if SKG were to buy e-pay by issuing shares to Simon Loh it would do 3 things:
(1) this would value SKG at around $60 million, and give Loh control of SKG
(2) They would have a revenue stream of over $200 million per year.
(3) Investors would flock to get a piece of e-pay, and Simon Loh’s original investment is SKG would be restored.

Just a theory ;-)