Company: MAGH
Filing Date: 2025-02-24
Form Type: DRS/A
Source: 0001493152-25-008050
Chunk: 218

Company: Magnitude International Ltd
Filing Date: 2025-02-24
Form: DRS/A
Chunk 218
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 |                            4,086,351 |     |                            2,996,737 |
| < 30 days           |     |                         342,316 |     | (35,234 | ) |     |                              307,082 |     |                              225,199 |
| 31 days to 60 days  |     |                           5,238 |     | (968    | ) |     |                                4,270 |     |                                3,131 |
| 61 days to 90 days  |     |                          13,910 |     | (3,536  | ) |     |                               10,374 |     |                                7,608 |
| 91 days to 120 days |     |                           1,819 |     | (827    | ) |     |                                  992 |     |                                  727 |
| >120 days           |     |                          11,834 |     | (8,716  | ) |     |                                3,118 |     |                                2,289 |
|                     |     |                       4,465,426 |     | (53,239 | ) |     |                            4,412,187 |     |                            3,235,691 |

Contract assets that are not past due make up majority of the receivables.

Subsequent to the financial year ended April 30, 2024:

| - | More                                                                                        
 than 98% of trade receivables were collected.                                               |
| - | Except                                                                                      
 for those retention receivables which monies will only be released upon the expiry of the   
 defect liability period as specified in the contracts, more than 90% of the contract assets 
 have been billed and collected.                                                             |

| F-39 |

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

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>

| 23. | Financial                   
 risk management (Continued) |

Credit risk(Continued)

Other receivables(Note 2)

The Group assessed the latest performance and financial position of the counterparties, adjusted for the future outlook of the industry in which the counterparties operate in, and concluded that there has significant increase in the credit risk since the initial recognition of an other receivable due from a third party amounted to SGD398,607 (equivalent to USD292,319). Accordingly, the Group recognized the impairment loss