Company: MAGH
Filing Date: 2025-03-20
Form Type: DRS/A
Source: 0001641172-25-000048
Chunk: 199

Company: Magnitude International Ltd
Filing Date: 2025-03-20
Form: DRS/A
Chunk 199
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 works and installation services are disclosed in Note 7.

Provision for expected credit losses (“ECL”) of trade receivables and contract assets

The Group uses a provision matrix to calculate ECLs for trade receivables and contract assets. The provision rates are based on days past due for groupings of various customer segments that have similar loss patterns.

The provision matrix is initially based on the Group’s historical observed default rates. The Group will calibrate the matrix to adjust historical credit loss experience with forward-looking information. At every reporting date, historical default rates are updated and changes in the forward-looking estimates are analysed.

The assessment of the correlation between historical observed default rates, forecast economic conditions and ECLs is a significant estimate. The amount of ECLs is sensitive to changes in circumstances and of forecast economic conditions. The Group’s historical credit loss experience and forecast of economic conditions may also not be representative of customer’s actual default in the future. The information about the ECLs on the Group’s trade receivables and contract assets is disclosed in Note 23.

The carrying amounts of the Group’s trade receivables and contract assets as at April 30, 2023 and 2024 are disclosed in Note 6 and 7 respectively.

| F-22 |

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

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>

| 4. | Property,           
 plant and equipment |

|                           |     | Leasehold property |     | Renovation |   |     | Computer software |     | Computer |   |     |    Office 
 equipment |   |     | Furniture and fittings |   |     |    Motor 
 vehicles |     |   Testing 
 equipment |     |     Total |   |     |   Total |   |
|                           |     |                SGD |     |        SGD |   |     |               SGD |     |      SGD |   |     |       SGD |   |     |                    SGD |   |     |      SGD |     |       SGD |     |       SGD |   |     |     USD |   |
| Cost:                     |     |                    |     |            |   |     |                   |     |          |   |     |           |   |     |                        |   |     |          |     |           |     |           |   |     |         |   |
| Balance at May 1, 2022    |