Company: MAGH
Filing Date: 2025-01-02
Form Type: DRS
Source: 0001493152-25-000010
Chunk: 198

Company: Magnitude International Ltd
Filing Date: 2025-01-02
Form: DRS
Chunk 198
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 2024 |     | April 30, 2023 and 2024 |     | April 30, 2023 and 2024 |
|:---------------------------------|:----|------------------------:|:----|------------------------:|:----|------------------------:|
|                                  |     |        Number of shares |     |                     SGD |     |                     USD |
| Issued and paid-up share capital |     |                         |     |                         |     |                         |
| Ordinary shares                  |     |               1,000,000 |     |                  86,585 |     |                  63,497 |

The Company has an authorized share capital of USD500,000 divided into 500,000,000 ordinary shares of par value US$0.001 per share. As disclosed in Note 1, upon completion of reorganization and by principal of common control, as of April 30, 2023 and 2024, 1,000,000 ordinary shares are issued and outstanding.

The fully paid ordinary shares carry one vote per share and carry a right to dividends as and when declared by the Company.

| 10. | Reserves |

Merger reserve

Merger reserve represents the difference between the consideration paid by the Company and the share capital of the subsidiaries acquired under common control.

As disclosed in Note 1, the Company entered into a reorganization agreement with Mr Lim to transfer all the 500,000 shares in BNL amounted to SGD500,000 and 500,000 shares in Herlin amounted to SGD500,000 to its subsidiary, Elec for a total consideration of USD1. As a result, the difference of SGD999,999 is recognized in merger reserve.

Foreign currency translation reserve

Foreign currency translation reserve represents exchange differences arising from the translation of the financial statements of foreign operations whose functional currencies are different from that of the Group’s presentation currency.

| F-27 |

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

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>

| 11. | Borrowings |

|                          |     |     April 
  30, 2023 |     |     April 
  30, 2024 |     |     April 
  30, 2024 |
|:-------------------------|:----|----------:|:----|----------:|:----|----------:|
|                          |     |       SGD |     |