Company: MAGH
Filing Date: 2025-02-24
Form Type: DRS/A
Source: 0001493152-25-008050
Chunk: 231

Company: Magnitude International Ltd
Filing Date: 2025-02-24
Form: DRS/A
Chunk 231
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'>MAGNITUDE INTERNATIONAL LTD AND ITS SUBSIDIARIES

NOTES TO UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</div>

| 1. | Overview |

Magnitude International Ltd (the “Company”) is incorporated in Cayman Islands on 25 October 2024 and its registered office at Harneys Fiduciary (Cayman) Limited, 4th Floor, Harbour Place, 103 South Church Street, P.O. Box 10240, Grand Cayman KY1-1002, Cayman Islands. The principal place of business of the Company is 27 Woodlands Industrial Park E1 #03-15 (Lobby B) Hiangkie Industrial Building Singapore 757718.

These unaudited interim condensed consolidated financial statements comprise the Company and its subsidiaries (the “Group”).

The principal activity of the Company is investment holding. The principal activities of the subsidiaries are disclosed below.

The details of its subsidiaries are as follows:

| Name of subsidiary          | (Country                         
 of incorporation and   principal 
 place of business)               |                                                                    | Principal  
 activities | Percentage             
 of effective ownership 
 held by                
 the Company            | April 
   30, 
  2024 |   |     |     |  October 
 31, 2024 |   |
|:----------------------------|:---------------------------------|:-------------------------------------------------------------------|:-----------|:-----------------------|------:|:--|:----|:----|---------:|:--|
| Elec Power Ltd (“Elec”)     |                                  | Investment holding                                                 |            |                        |   100 | % |     |     |      100 | % |
| (British Virgin Islands)    |                                  |                                                                    |            |                        |       |   |     |     |          |   |
| BNL Engineering Private     
 Limited (“BNL”)             
 (Singapore)                 |                                  | Provision of electrical installation and                           
 licensing services for greenfield electrical installation projects |            |                        |   100 | % |     |     |      100 | % |
| Herlin Pte. Ltd. (“Herlin”) 
 (Singapore)                 |                                  | Provision of electrical installation and                           
 licensing services for brownfield electrical installation projects |            |                        |   100 | % |     |     |      100 | % |

Organization and reorganization

In order to facilitate the Company’s initial public offering, the Company completed a series of reorganization transactions (