Company: MAGH
Filing Date: 2025-05-28
Form Type: F-1
Source: 0001641172-25-012644
Chunk: 81

Company: Magnitude International Ltd
Filing Date: 2025-05-28
Form: F-1
Chunk 81
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 October 31, 2024    |     |       Trade 
 receivables 
         SGD |     | ECL     
 SGD     |   |     | Trade receivables, net 
                    SGD |     | Trade receivables, net 
                    USD |
|:--------------------|:----|------------:|:----|:--------|:--|:----|-----------------------:|:----|-----------------------:|
| Not past due        |     |     477,264 |     | (1,500  | ) |     |                475,764 |     |                359,609 |
| < 30 days           |     |     639,823 |     | (10,866 | ) |     |                628,957 |     |                475,402 |
| 31 days to 60 days  |     |       9,766 |     | (1,699  | ) |     |                  8,067 |     |                  6,098 |
| 61 days to 90 days  |     |      34,819 |     | (11,247 | ) |     |                 23,572 |     |                 17,817 |
| 91 days to 120 days |     |      26,978 |     | (26,978 | ) |     |                      - |     |                      - |
| >120 days           |     |      11,900 |     | (11,900 | ) |     |                      - |     |                      - |
|                     |     |   1,200,550 |     | (64,190 | ) |     |              1,136,360 |     |                858,926 |

We have a policy for determining the allowance for impairment based on the evaluation of collectability and aging analysis of trade receivable and on management’s judgement, including the change in credit quality, the past collection history of each customer and the current market condition.

The loss allowance for trade receivable related to a general provision for accounts receivable applying the simplified approach to providing for expected credit loss(es) (the “ECL(s)”). Credit risk grades are defined using qualitative and quantitative factors that are indicative of the risk of default. An ECL rate is calculated based on historical loss rates of the industry in which our customers operate and ageing of the trade receivable.

| 59 |

Trade payables

The general credit terms from our major suppliers