Company: MAGH
Filing Date: 2025-07-18
Form Type: F-1/A
Source: 0001641172-25-020173
Chunk: 189

Company: Magnitude International Ltd
Filing Date: 2025-07-18
Form: F-1/A
Chunk 189
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 in BNL was SGD1,696,763. The Group recognized a decrease in non-controlling interests of SGD1,696,763 and a decrease in equity attributable to owners of the parent of SGD1,696,763. The effect on the equity attributable to the owner of BNL during the financial year ended April 30, 2023 is summarized as follows:

|                                                                                     |     |      2023 |
|                                                                                     |     |       SGD |
| Carrying amount of non-controlling interest acquired                                |     | 1,696,763 |
| Non-controlling interest’s 60% equity interest in BNL recognized in merger reserve* |     |   150,000 |
| Consideration paid by BNL to non-controlling interest*                              |     |         - |
| Difference recognized directly in equity                                            |     | 1,846,763 |

*The non-controlling interest’s 60% equity interest represents SGD150,000 share capital in BNL is deemed acquired under common control by the Company. The consideration was settled by Mr. Lim to the non-controlling interest. No cash flows transactions between BNL and the non-controlling interest. The difference between the consideration paid by the Company and the share capital acquired is recognized in merger reserve under common control (Note 10).

Organization and reorganization

In order to facilitate the Company’s initial public offering, the Company completed a series of reorganizationtransactions (the “Reorganization”), whereby, each of the operating and holding entities under the controlling shareholder’s common control before and after the Reorganization, were ultimately contributed to the Company.

On October 25, 2024, the Company was incorporated in the Cayman Islands with limited liability and the initial 1 share was transferred to Mr. Lim Say Wei (“Mr. Lim”) on the same date.

On November 21, 2024, Mr. Lim transferred the 1 share to his nominee BVI Co, XJL International Ltd. The initial authorized share capital of the Company was 500,000,000 Shares of a par value of US$0.001 each.

| F-8 |

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

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>

| 1. | Overview    
 (Continued) |

On December 12, 2024, Elec was incorporated in the BVI with limited liability. Elec is authorized to issue