My 90bhp 1293 hit just under 120 on the rolling road, although no wind resistance, there is twice the rolling resistance on the tyres as there is 2 contact patches on each tyre. That is an accurate figure, as its obviously a calibrated piece of kit, so I doubt your 998 got anywhere near 118. Probably closer to 90 to be honest.
Going from a mini speedo is next to useless
Yours has lots done to it though, yours will shift, no doubt about that!