Company: MAGH
Filing Date: 2025-02-24
Form Type: DRS/A
Source: 0001493152-25-008050
Chunk: 69

Company: Magnitude International Ltd
Filing Date: 2025-02-24
Form: DRS/A
Chunk 69
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 |     |   |   1.3 |     |      |   5,298 |     |   |   0.6 |
| Upkeep of motor vehicles              |     |                                      |  20,221 |     |   |   2.4 |     |      |   7,565 |     |   |   0.8 |
| Utilities                             |     |                                      |   7,313 |     |   |   0.8 |     |      |   7,179 |     |   |   0.8 |
| Others                                |     |                                      | 132,449 |     |   |  15.7 |     |      |  32,866 |     |   |   3.6 |
| Total                                 |     |                                      | 845,050 |     |   | 100.0 |     |      | 924,987 |     |   | 100.0 |

| 54 |

Administrative expenses consisted primarily of bank charges, staff costs, director’s renumerations, depreciation, insurance expenses, professional fees and other miscellaneous administrative expenses.

Staff costs mainly represented employee benefits expenses to our employees.

Depreciation expense is charged on our property, plant and equipment which includes (i) leasehold property; (ii) motor vehicles; (iii) office equipment; (iv) furniture and fittings; (v) renovation; (vi) computer software; (vii) computer and (viii) testing equipment.

Administrative expenses increased by S$79,937 or approximately 9.5% from S$845,050 for the six months ended October 31, 2023 to S$924,987 for the six months ended October 31, 2024. The increase is mainly due to an increase in professional fees from the engagement of professional service providers to support the IPO. The professional fees increased by S$108,853 from S$113,792 for the six months ended October 31, 2023 to S$222,645 for the six months ended October 31, 2024. Staff costs also increased by S$161,392 from S$373,881 for the six months ended October 31, 2023 to S$535,273 for the six months ended October 31, 2024 due to hiring of more staff to support the expanded business activities and commencement of new major projects.

Other Income (Expenses)