Company: MAGH
Filing Date: 2025-03-20
Form Type: DRS/A
Source: 0001641172-25-000048
Chunk: 207

Company: Magnitude International Ltd
Filing Date: 2025-03-20
Form: DRS/A
Chunk 207
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 | SGD600,000   |     | May 2025      |     | 2.25% per annum                                                                         |     | 125,463 |     |      10,104 |     |   135,567 |     |  99,419 |
|                        |     |              |     |               |     |                                                                                         |     | 421,749 |     |     697,695 |     | 1,119,444 |     | 820,948 |

| F-28 |

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

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>

| 11. | Borrowings  
 (Continued) |

For the years ended April 30, 2023 and 2024, the effective interest rate of the Group’s bank borrowings ranged from 2.27% to 6.55% and 2.27% to 8.03%, respectively.

At the end of the financial year, the Group’s bank borrowings are secured by:

| (i)  | legal assignment of life insurance policies executed by the  
 Group in respect of the name of the director (Note 5); and   |
| (ii) | guarantees and indemnity for all monies by a director of the 
 Group.                                                       |

Lease liabilities

Group as a lessee

The Group has lease contracts related to leasehold property loan and vehicles financing under hire purchase arrangements with banks, arranged at floating and fixed interest rates. The interest rate implicit in the leases range from 2.13% to 3.58% per annum.

| (a) | Carrying                                                                       
 amounts of right-of-use assets presented within property, plant and equipment: |

|                   |     | Leasehold property |   |     | Motor vehicles |   |     |   Total |   |     |   Total |   |
|                   |     |                SGD |   |     |            SGD |   |     |     SGD |   |     |     USD |   |
| At May 1, 2022    |     |            628,710 |   |     |         64,635 |   |     | 693,345 |   |     | 508,467 |   |
| Depreciation      |     |            (19,854 | ) |     |        (18,432 | ) |     | (38