Company: MAGH
Filing Date: 2025-09-15
Form Type: 20-F
Source: 0001493152-25-013424
Chunk: 151

Company: Magnitude International Ltd
Filing Date: 2025-09-15
Form: 20-F
Item: Item 19
Chunk 151
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 contract assets and contract liabilities arising from provision electrical
works and installation services are disclosed in Note 8.

Provision
for expected credit losses (“ ECL”) of trade receivables and contract assets

The
Group uses a provision matrix to calculate ECLs for trade receivables and contract assets. The provision rates are based on days past
due for groupings of various customer segments that have similar loss patterns.

The
provision matrix is initially based on the Group’s historical observed default rates. The Group will calibrate the matrix to adjust
historical credit loss experience with forward-looking information. At every reporting date, historical default rates are updated and
changes in the forward-looking estimates are analyzed.

The
assessment of the correlation between historical observed default rates, forecast economic conditions and ECLs is a significant estimate.
The amount of ECLs is sensitive to changes in circumstances and of forecast economic conditions. The Group’s historical credit
loss experience and forecast of economic conditions may also not be representative of customer’s actual default in the future.
The information about the ECLs on the Group’s trade receivables and contract assets is disclosed in Note 24.

The
carrying amounts of the Group’s trade receivables and contract assets as at April 30, 2024 and 2025 are disclosed in Note 7 and
8 respectively.

MAGNITUDE
INTERNATIONAL LTD AND ITS SUBSIDIARIES

NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS

4. Property, plant and equipment

Schedule
of property, plant and equipment

                                 SGD          SGD                SGD      SGD           SGD                 SGD           USD  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Cost:                                                                                                                        
  Balance at May 1, 2023         680,000      152,660        207,318      115,556       83,600        1,279,015       979,787  
  Additions                      -            -                5,400      -             -                31,381        24,039  
  Write-off                      -            ( 29,300       ( 9,341      ( 38,000      -              ( 84,121      ( 64,441  
  Depreciation                                                                                                                 
  Balance at April 30, 2024      680,000      123,360        203,377