Company: MAGH
Filing Date: 2025-07-18
Form Type: F-1/A
Source: 0001641172-25-020173
Chunk: 274

Company: Magnitude International Ltd
Filing Date: 2025-07-18
Form: F-1/A
Chunk 274
---
 capital loan   |     | SGD600,000       |     | May        
 2025       |     | 2.25% per annum                             |     |  73,193 |     |           - |     |  73,193 |     |  55,323 |
|                        |     |                  |     |            |     |                                             |     | 284,968 |     |     611,089 |     | 896,057 |     | 677,292 |

For the year/period ended April 30, 2024 and October 31, 2024, the effective interest rate of the Group’s bank borrowings ranged from 2.27% to 6.55% and 2.27% to 8.03%, respectively.

At the end of the financial period, the Group’s bank borrowings are secured by:

(i) legal assignment of life insurance policies executed by the Group in respect of the name of the director

(Note 5); and

(ii) guarantees and indemnity for all monies by a director of the Group.

Lease liabilities

Group as a lessee

The Group has lease contracts related to leasehold property loan and vehicles financing under hire purchase arrangements with banks, arranged at floating and fixed interest rates. The interest rate implicit in the leases range from 2.13% to 3.58% per annum.

| (a) | Carrying                                                                       
 amounts of right-of-use assets presented within property, plant and equipment: |

|                     |     | Leasehold 
  property |   |     |    Motor 
 vehicles |   |     |   Total |   |     |   Total |   |
|                     |     |       SGD |   |     |      SGD |   |     |     SGD |   |     |     USD |   |
| At May 1, 2023      |     |   608,856 |   |     |   46,203 |   |     | 655,059 |   |     | 495,132 |   |
| Depreciation        |     |   (19,854 | ) |     |  (18,432 | ) |     | (38,286 | ) |     | (28,939 | ) |
| At April 30, 2024   |     |   589,002 |   |     |   27,771 |   |     | 616,773 |