Company: MAGH
Filing Date: 2025-02-24
Form Type: DRS/A
Source: 0001493152-25-008050
Chunk: 268

Company: Magnitude International Ltd
Filing Date: 2025-02-24
Form: DRS/A
Chunk 268
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ARIES

NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</div>

| 24. | Financial                   
 risk management (Continued) |

Credit risk(Continued)

The table below details the credit quality of the Group’s financial assets, as well as maximum exposure to credit risk by credit risk rating categories: (Continued)

| April 30, 2024            |     | Category |     | 12-month                  
 or lifetime ECL           |     |           Gross 
 carrying amount 
             SGD |     | Loss      
 allowance 
 SGD       |   |     |             Net 
 carrying amount 
             SGD |     |             Net 
 carrying amount 
             USD |
|:--------------------------|:----|:---------|:----|:--------------------------|:----|----------------:|:----|:----------|:--|:----|----------------:|:----|----------------:|
| Trade receivables         |     | II       
 Note 1   |     | Lifetime ECL (Simplified) |     |       1,484,757 |     | (59,582   | ) |     |       1,425,175 |     |       1,077,229 |
| Contract assets           |     | II       
 Note 1   |     | Lifetime ECL (Simplified) |     |       3,422,121 |     | (3,303    | ) |     |       3,418,818 |     |       2,584,141 |
| Other receivables         
 (excluded prepayments)    |     | III      
 Note 2   |     | Lifetime ECL (Simplified) |     |         732,156 |     | (398,607  | ) |     |         333,549 |     |         252,116 |
| Cash and cash equivalents |     | I        
 Note 3   |     | 12-month ECL              |     |       1,868,461 |     | -         |   |     |       1,868,461 |     |       1,412,291 |
|                           |     |          |     |                           |     |                 |     | (461,492  | ) |     |                 |     |                 |

Trade receivables and contract assets(Note 1)

For trade receivables and contract assets, the Group has applied the simplified approach in