Company: MAGH
Filing Date: 2025-03-20
Form Type: DRS/A
Source: 0001641172-25-000048
Chunk: 218

Company: Magnitude International Ltd
Filing Date: 2025-03-20
Form: DRS/A
Chunk 218
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 the analysis above, a significant increase in credit risk is presumed if a debtor is more than 30 days past due in making contractual payment.

The Group determined that its financial assets are credit-impaired when:

| ● | There                                                                                           
 is significant difficulty of the debtor                                                         |
| ● | A                                                                                               
 breach of contract, such as a default or past due event                                         |
| ● | It                                                                                              
 is becoming probable that the debtor will enter bankruptcy or other financial reorganization    |
| ● | There                                                                                           
 is a disappearance of an active market for that financial asset because of financial difficulty |

The Group categorizes a receivable for potential write-off when a debtor fails to make contractual payments more than 120 days past due. Financial assets are written off when there is evidence indicating that the debtor is in severe financial difficulty and the debtor has no realistic prospect of recovery.

| F-37 |

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

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>

| 23. | Financial                   
 risk management (Continued) |

Credit risk(Continued)

The Group’s current credit risk grading framework comprises the following categories:

| Category |     | Definition                                                                                                                     
 of category                                                                                                                    |     | Basis                                      
 for recognising expected credit loss (ECL) |
| I        |     | Counterparty                                                                                                                   
 has a low risk of default and does not have any past-due amounts.                                                              |     | 12-month                                   
 ECL                                        |
| II       |     | Amount                                                                                                                         
 is >30 days past due or there has been a significant increase in credit risk since initial recognition.                        |     | Lifetime                                   
 ECL – not credit impaired                  |
| III      |     | Amount                                                                                                                         
 is >60 days past due or there is evidence indicating the asset is credit-impaired (in default).                                |     | Lifetime                                   
 ECL – credit-impaired                      |
| IV       |     | There                                                                                                                          
 is evidence indicating that the debtor is in severe financial difficulty and the debtor has no realistic prospect of recovery. |     | Amount                                     
 is written off                             |

The table below details the credit quality of the Group’s financial assets, as well as maximum exposure to credit risk by credit risk rating categories:

| April                                    
 30, 2024                                 |     | Category |     | 12-month                  
 or lifetime ECL           |     |           Gross 
 carrying amount |