Company: MAGH
Filing Date: 2025-06-25
Form Type: F-1/A
Source: 0001641172-25-016431
Chunk: 210

Company: Magnitude International Ltd
Filing Date: 2025-06-25
Form: F-1/A
Chunk 210
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2,509,623 |   |
| Less: loss allowance |     |    (2,491 | ) |     |    (3,303 | ) |     |    (2,422 | ) |
|                      |     | 2,570,486 |   |     | 3,418,818 |   |     | 2,507,201 |   |
| Contract liabilities |     | 1,079,387 |   |     |   581,767 |   |     |   426,641 |   |

Contract assets

Amounts of contract assets represent the Group’s rights to considerations from customers for the provision of construction services, which arise when: (i) the Group completed the relevant services under such contracts; and (ii) the customers withhold certain amounts payable to the Group as retention money to secure the due performance of the contracts for a period of generally 12 months (defect liability period) after completion of the relevant works. Any amount previously recognized as a contract asset is reclassified to trade receivables at the point at which it becomes unconditional and is invoiced to the customer.

The Group’s contract assets are analyzed as follows:

|                       |     |     April 
  30, 2023 |     |     April 
  30, 2024 |     |     April 
  30, 2024 |
|:----------------------|:----|----------:|:----|----------:|:----|----------:|
|                       |     |       SGD |     |       SGD |     |       USD |
| Retention receivables |     | 1,927,609 |     | 1,839,910 |     | 1,349,304 |
| Others*               |     |   642,877 |     | 1,578,908 |     | 1,157,897 |
|                       |     | 2,570,486 |     | 3,418,818 |     | 2,507,201 |

* It represents the revenue not yet billed to the customers which the Group has completed the relevant services under such contracts but yet certified by representatives appointed by the customers.

| F-25 |

<div align='center'>MAGNITUDE INTERNATIONAL LTD AND ITS SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>

| 7. | Contract                       
 assets/liabilities (Continued) |

Contract assets(Continued