Company: MAGH
Filing Date: 2025-01-02
Form Type: DRS
Source: 0001493152-25-000010
Chunk: 68

Company: Magnitude International Ltd
Filing Date: 2025-01-02
Form: DRS
Chunk 68
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 foreign exchange loss of S$3,716, depreciation of property, plant and equipment of S$118,896, interest expenses from bank borrowings and lease liabilities of S$47,363, reversal of losses from onerous contracts of S$1,837,483 and allowance for expected credit losses for trade and other receivable and contract assets of S$172,821. Changes in operating assets and liabilities mainly included: (i) an increase in contract assets of S$635,037; (ii) an increase in trade and other receivables of S$700,616; (iii) an increase in trade and other payables of S$2,906,525, which were offset by a decrease in contract liabilities of S$2,567,382.

For the financial year ended April 30, 2024, our net cash provided by operating activities was S$609,817, which primarily consisted of our profit before income tax of S$2,023,322, as adjusted for non-cash items and non-operating items, changes in operating activities and cash used in operations. Adjustments for non-cash items and non-operating items consisted of fair value gain in financial assets of S$7,280, unrealized foreign exchange gain of S$413, depreciation of property, plant and equipment of S$102,990, insurance premium of S$64,412, interest expenses from bank borrowings and lease liabilities of S$68,167, reversal of losses from onerous contracts of S$130,343 and allowance for expected credit losses for trade and other receivable and contract assets of S$89,367. Changes in operating assets and liabilities mainly included an increase in trade and other receivables of S$2,103,078, which was offset by (i) a decrease in contract assets of S$848,332; (ii) a decrease in trade and other payables of S$2,295,686; (iii) a decrease in contract liabilities of S$497,620; and (iv) tax paid of S$61,845.

Cash flow used in investing activities

For the financial year ended April 30, 2023, net cash used in investing activities was S$15,548, which was primarily consisted of purchase of property, plant and equipment, mainly in computers.

For the financial year ended April 30, 2024, net cash used in investing activities was S$123,558, which was primarily consisted