Company: MAGH
Filing Date: 2025-02-24
Form Type: DRS/A
Source: 0001493152-25-008050
Chunk: 129

Company: Magnitude International Ltd
Filing Date: 2025-02-24
Form: DRS/A
Chunk 129
---
 to foreign private issuers.

Board Committees

Prior to the completion of this offering, we intend to establish an audit committee, a compensation committee and a nomination committee under the board of directors, each of which will operate pursuant to a charter to be adopted by our board of directors and will be effective upon the effectiveness of the registration statement of which this prospectus is a part. The board of directors may also establish other committees from time to time to assist the Company and the board of directors. Upon the effectiveness of the registration statement of which this prospectus is a part, the composition and functioning of all of our committees will comply with all applicable requirements of the Sarbanes-Oxley Act, Nasdaq and SEC rules and regulations, if applicable. Upon our listing on Nasdaq, each committee’s charter will be available on our website at https://www.bnlengrg.com. The reference to our website address does not constitute incorporation by reference of the information contained at or available through our website, and you should not consider it to be part of this prospectus.

Audit Committee

Mr. Yong Thiam Fook, Mr. Ho Soo Lih and Mr. Sung Jin An will serve on the audit committee, which will be chaired by Mr. Yong Thiam Fook. Our board of directors has determined that each is “independent” for audit committee purposes as that term is defined by the rules of the SEC and Nasdaq, and that each has sufficient knowledge in financial and auditing matters to serve on the audit committee. Our board of directors has designated Mr. Yong Thiam Fook as an “audit committee financial expert,” as defined under the applicable rules of the SEC. The audit committee’s responsibilities include:

| ● | appointing,                                                                                 
 approving the compensation of, and assessing the independence of our independent registered 
 public accounting firm;                                                                     |

| ● | pre-approving                                                                               
 auditing and permissible non-audit services, and the terms of such services, to be provided 
 by our independent registered public accounting firm;                                       |

| 104 |

| ● | reviewing                                                                                 
 the overall audit plan with our independent registered public accounting firm and members 
 of management responsible for preparing our financial statements;                         |

| ● | reviewing                                                                                        
 and discussing with management and our independent registered public accounting firm our         
 annual and quarterly financial statements and related disclosures as well as critical accounting 
 policies and practices used by us;                                                               |

| ● | coordinating                                                                               
 the oversight and reviewing the adequacy of our internal control over financial reporting; |

|