Company: MAGH
Filing Date: 2025-06-25
Form Type: F-1/A
Source: 0001641172-25-016431
Chunk: 74

Company: Magnitude International Ltd
Filing Date: 2025-06-25
Form: F-1/A
Chunk 74
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 |     |      |  7,681 |     |   |  33.9 |
| Rental income                                                               |     |                                      | 13,877 |     |   |  92.6 |     |      |        |     |   |     - |
| Sundry income                                                               |     |                                      |    494 |     |   |   3.3 |     |      | 12,546 |     |   |  55.3 |
| Total                                                                       |     |                                      | 14,983 |     |   | 100.0 |     |      | 22,681 |     |   | 100.0 |

Other income primarily consisted of government grants, fair value change on keyman insurance and gain from foreign currency exchange. Other income increased by S$7,698, or approximately 51.4% from S$14,983 for the six months ended October 31, 2023 to S$22,681 for the six months ended October 31, 2024. The increase were mainly attributable to Corporate Income Tax (CIT) Rebate cash grant given to the Group and increase in cash surrender value of keyman life insurance policies.

| 55 |

Income Tax Expense

As the Group had unutilized capital allowance and trade losses as of April 30, 2023, which were carried forward and used to offset against the taxable income of the Group for the six months ended October 31, 2023, there was no income tax expense for that period.

During the six months ended October 31, 2024, there was no income tax expense. The Group has unutilized capital allowance and trade losses carried forward from prior years which were used to offset against the taxable income of the Group.

Net Profit After Income Tax

As a result of the foregoing, our net profit after income tax amounted to S$919,027 and S$196,748 for the six months ended October 31, 2023 and 2024, respectively.

Liquidity and Capital Resources

As of April 30, 2023, our cash balances amounted to approximately S$1,613,282, our current assets were S$8,166,597, and our current liabilities were S$7,812,982. For the financial year ended April 30, 2023, we generated profit for the financial year of S$783,735 with net operating cash inflows of S$996,