Company: MAGH
Filing Date: 2025-09-15
Form Type: 20-F
Source: 0001493152-25-013424
Chunk: 77

Company: Magnitude International Ltd
Filing Date: 2025-09-15
Form: 20-F
Item: Item 5
Chunk 77
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 of S$2,023,322, as adjusted for non-cash items and non-operating items, changes in operating activities and
cash used in operations. Adjustments for non-cash items and non-operating items consisted of (i) fair value gains on financial assets
of S$7,280; (ii) unrealized foreign exchange gains of S$413; (iii) depreciation of property, plant and equipment of S$102,990; (iv) insurance
premium of S$64,412; (v) finance costs from bank borrowings and lease liabilities of S$68,167; (vi) allowance for expected credit losses
for trade and other receivable and contract assets of S$89,367; and (vii) reversal of losses from onerous contracts of S$130,343. Changes
in operating assets and liabilities mainly included a decrease in trade and other receivables of S$2,103,078, which was offset by (i)
an increase in contract assets of S$848,332; (ii) a decrease in trade and other payables of S$2,295,686; (iii) a decrease in contract
liabilities of S$497,620; and (iv) tax paid of S$61,845.

For the financial year ended April 30, 2025, our net cash outflow from
operating activities was S$926,041, which primarily consisted of our profit before income tax of S$24,929, as adjusted for non-cash items
and non-operating items, changes in operating activities and cash used in operations. Adjustments for non-cash items and non-operating
items consisted of (i) fair value gains on financial assets of S$18,358; (ii) unrealized foreign exchange losses of S$24,265; (iii) depreciation
of property, plant and equipment of S$85,684; (iv) gain on disposal of plan and equipment of S$2,631; (v)
finance costs from bank borrowings and lease liabilities of S$90,715, and (vi) allowance for expected credit losses for trade and other
receivable and contract assets of S$5,087. Changes in operating assets and liabilities mainly included a decrease in trade and other receivables
of S$342,515, (i) an decrease in trade and other payables of S$199,163, which was offset by (ii