Company: MAGH
Filing Date: 2025-09-15
Form Type: 20-F
Source: 0001493152-25-013424
Chunk: 171

Company: Magnitude International Ltd
Filing Date: 2025-09-15
Form: 20-F
Item: Item 19
Chunk 171
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.

The
Group determined that its financial assets are credit-impaired when:

  There                                                                                            
  A                                                                                                
  It                                                                                               
  There                                                                                            

The
Group categorizes a receivable for potential write-off when a debtor fails to make contractual payments more than 120 days past due.
Financial assets are written off when there is evidence indicating that the debtor is in severe financial difficulty and the debtor has
no realistic prospect of recovery.

MAGNITUDE
INTERNATIONAL LTD AND ITS SUBSIDIARIES

NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS

  24.      Financial                    
           risk management (Continued)  
 ────────────────────────────────────────

Credit
risk

The
Group’s current credit risk grading framework comprises the following categories:

  Category      Definition                                                                                                                          Basis                                       
                of category                                                                                                                         for recognizing expected credit loss (ECL)  
  I             Counterparty                                                                                                                        12-month                                    
                has a low risk of default and does not have any past-due amounts.                                                                   ECL                                         
  II            Amount                                                                                                                              Lifetime                                    
                is >30 days past due or there has been a significant increase in credit risk since initial recognition.                             ECL – not credit impaired                   
  III           Amount                                                                                                                              Lifetime                                    
                is >60 days past due or there is evidence indicating the asset is credit-impaired (in default).                                     ECL – credit-impaired                       
  IV            There                                                                                                                               Amount                                      
                is evidence indicating that the debtor is in severe financial difficulty and the debtor has no realistic prospect of recovery.      is written off                              
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

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:

Schedule of maximum exposure to
credit risk by credit risk rating categories

  April 30, 2025                                Category      12-month or lifetime ECL       Gross carrying amount                                                              
                                                                                             SGD                                                                                
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Trade receivables                             II            Lifetime ECL (Simplified)                                   996,732       ( 49,855        946,877        725,353  
  Contract assets                               II            Lifetime ECL (Simplified)                                 4