Company: MAGH
Filing Date: 2025-03-20
Form Type: DRS/A
Source: 0001641172-25-000048
Chunk: 273

Company: Magnitude International Ltd
Filing Date: 2025-03-20
Form: DRS/A
Chunk 273
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                             SGD |     | ECL     
 SGD     |   |     |        Trade receivables 
 and contract assets, net 
                      SGD |     |        Trade receivables 
 and contract assets, net 
                      USD |
|:--------------------|:----|--------------------------------:|:----|:--------|:--|:----|-------------------------:|:----|-------------------------:|
| Not past due        |     |                       4,407,717 |     | (4,252  | ) |     |                4,403,465 |     |                3,328,393 |
| < 31 days           |     |                         411,649 |     | (26,995 | ) |     |                  384,654 |     |                  290,744 |
| 31 days to 60 days  |     |                          54,065 |     | (7,899  | ) |     |                   46,166 |     |                   34,895 |
| 61 days to 90 days  |     |                               - |     | -       |   |     |                        - |     |                        - |
| 91 days to 120 days |     |                               - |     | -       |   |     |                        - |     |                        - |
| >120 days           |     |                          33,447 |     | (23,739 | ) |     |                    9,708 |     |                    7,338 |
|                     |     |                       4,906,878 |     | (62,885 | ) |     |                4,843,993 |     |                3,661,370 |

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

Subsequent to the financial period ended October 31, 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 59% of the contract assets have been billed and collected. The remaining contract assets is expected to be billed and settled by April 30, 2025.

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