Company: MAGH
Filing Date: 2025-02-24
Form Type: DRSLTR
Source: 0001493152-25-008054
Chunk: 2

Company: Magnitude International Ltd
Filing Date: 2025-02-24
Form: DRSLTR
Chunk 2
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 partner’s equity stake.                
 In response to the Staff’s comment, the Company                                                                                     
 has revised the disclosure on pages 4 and 42 to state that Mr. Lim completed the acquisition from his business partner’s            
 entire equity stake of BNL on  April 5, 2023.                                                                                       
 ●                                                                                                                                   
 Please tell us how much of BNL was owned by the business partner for the period from May 1, 2022 until Mr. Lim’s acquisition        
 of the business partner’s equity stake.                                                                                             |
|:----|:------------------------------------------------------------------------------------------------------------------------------------|
|     | In response to the Staff’s comment, the Company                                                                                     
 advises that the business partner owned 60% of the shares of BNL during the referenced period.                                      |
|     | ●                                                                                                                                   
 Please tell us and revise your filing to clarify if BNL was or was not under the control of Mr. Lim for the period from May 1, 2022 
 until Mr. Lim’s acquisition of the business partner’s equity stake. In your response, please tell us your basis in IFRS             
 for such determination.                                                                                                             |

In response to the Staff’s comment, the Company has revised page 4 to provide a summary of Mr. Lim’s control over BNL during the referenced period.

The Company refers to IFRS 10 Consolidated Financial Statements including the Appendix B Application Guidance Assessing Control to determine whether Mr. Lim controls BNL based on all the following:

| 1. | Power                                                                                      
 over the investee;                                                                         |
| 2. | Exposure,                                                                                  
 or rights, to variable returns from its involvement with the investee; and                 |
| 3. | The                                                                                        
 ability to use its power over the investee to affect the amount of the investor’s returns. |

Below is a summary of assessment to conclude that Mr. Lim was able to exercise absolute control during the period from May 1, 2022 until Mr. Lim’s acquisition of the business partner’s equity stake.

| 1. | Assess             
 purpose and design |

The Company considers the purpose and design of BNL in order to identify the relevant activities, how decisions about the relevant activities are made, who has the current ability to direct those activities and who receives returns from those activities.

The business partner does not hold higher grade of BCA licenses, as a result BNL was incorporated to leverage Mr. Lim’s expertise and experience in managing comprehensive greenfield and brownfield projects as well as to tender