Company: MAGH
Filing Date: 2025-02-24
Form Type: DRS/A
Source: 0001493152-25-008050
Chunk: 65

Company: Magnitude International Ltd
Filing Date: 2025-02-24
Form: DRS/A
Chunk 65
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4. The increase was mainly attributable to a rise in
interest rate and additional bank loans of S$400,000 that were taken during the financial year ended April 30, 2024.

Other Income

The following table sets forth the breakdown of our other income for the twelve months ended April 30, 2023 and 2024:

|                                                              |     | Financial Years Ended April 30, |        |     |   |       |     |      |        |     |   |       |
|                                                              |     |                            2023 |        |     |   |       |     | 2024 |        |     |   |       |
|                                                              |     |                              S$ |        |     | % |       |     |   S$ |        |     | % |       |
| Government grant                                             |     |                                 | 54,958 |     |   |  70.2 |     |      | 10,930 |     |   |  21.9 |
| Interest income                                              |     |                                 |    381 |     |   |   0.5 |     |      |    149 |     |   |   0.3 |
| Foreign exchange gain                                        |     |                                 |      - |     |   |     - |     |      |  9,698 |     |   |  19.4 |
| Fair value changes on financial assets at fair value through 
 profit or loss                                               |     |                                 |  5,247 |     |   |   6.7 |     |      |  7,280 |     |   |  14.6 |
| Rental income                                                |     |                                 |      - |     |   |     - |     |      | 12,010 |     |   |  24.1 |
| Sundry income                                                |     |                                 | 17,752 |     |   |  22.6 |     |      |  9,805 |     |   |  19.7 |
| Total                                                        |     |                                 | 78,338 |     |   | 100.0 |     |      | 49,872 |     |   | 100.0 |

Other income primarily consisted of government grants, fair value change on keyman life insurance and gain from foreign currency exchange. Other income decreased by S$28,466, or approximately 36.3% from