Company: MAGH
Filing Date: 2025-06-25
Form Type: F-1/A
Source: 0001641172-25-016431
Chunk: 78

Company: Magnitude International Ltd
Filing Date: 2025-06-25
Form: F-1/A
Chunk 78
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 before income tax 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.

Cash flow used in investing activities

For the financial year ended April 30, 2023, net cash used in investing activities was S$15,548, which was primarily consisted of purchase of property, plant and equipment, mainly in computers.

For the financial year ended April 30, 2024, net cash used in investing activities was S$123,558, which was primarily consisted of purchase of property, plant and equipment, mainly in computers and a key-man insurance policy for our CEO.

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Cash flow used in financing activities

For the financial year ended April 30, 2023, net cash used in financing activities was S$543,533 which primarily consisted of (i) repayment of bank borrowings of S$556,654; (ii) payment of lease liabilities of S$86,879; and (iii) dividends paid of S$250,000, which were offset by proceeds of S$350,000 from issuance of ordinary shares in a subsidiary.

For the financial year ended April 30, 2024, net cash used in financing activities was S$231,080 which primarily consisted of (i) repayment of bank borrowings of S$399,174; (