Company: MAGH
Filing Date: 2025-03-20
Form Type: DRS/A
Source: 0001641172-25-000048
Chunk: 260

Company: Magnitude International Ltd
Filing Date: 2025-03-20
Form: DRS/A
Chunk 260
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1, the Company entered into a reorganization agreement with Mr Lim to transfer all the 500,000 shares in BNL amounted to SGD500,000 and 500,000 shares in Herlin amounted to SGD500,000 to its subsidiary, Elec for a total consideration of USD1. As a result, the difference of SGD999,999 is recognized in merger reserve.

Foreign currency translation reserve

Foreign currency translation reserve represents exchange differences arising from the translation of the financial statements of foreign operations whose functional currencies are different from that of the Group’s presentation currency.

Other reserve

Other reserve represents any difference between the change in the carrying amounts of the non-controlling interest
and the fair value of the consideration paid or received is recognized within equity attributable to the equity holders of the Company.

| 12. | Borrowings |

|                          |     |     April 
 30,  2024 |     |   October 
 31,  2024 |     |   October 
 31,  2024 |
|:-------------------------|:----|----------:|:----|----------:|:----|----------:|
|                          |     |       SGD |     |       SGD |     |       USD |
| Borrowings:              |     |           |     |           |     |           |
| Bank borrowings, secured |     | 1,119,444 |     |   896,057 |     |   677,292 |
| Lease liabilities        |     |   528,585 |     |   518,091 |     |   391,603 |
|                          |     | 1,648,029 |     | 1,414,148 |     | 1,068,895 |
| Current                  |     |   442,582 |     |   306,026 |     |   231,312 |
| Non-current              |     | 1,205,447 |     | 1,108,122 |     |   837,583 |
|                          |     | 1,648,029 |     | 1,414,148 |     | 1,068,895 |

Bank borrowings comprised of the following:

| Type                   
 April 30,              
 2024                   
 Working capital loan   |     | Principal amount 
 SGD1,000,000     |     | Maturities 
 May        
 2025       |     | Interest rate                               
 2.25% per annum