Company: MAGH
Filing Date: 2025-09-15
Form Type: 20-F
Source: 0001493152-25-013424
Chunk: 139

Company: Magnitude International Ltd
Filing Date: 2025-09-15
Form: 20-F
Item: Item 19
Chunk 139
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 at the acquisition date. The excess of (a) the consideration transferred over the (b) fair value of the identifiable
net assets acquired is recorded as goodwill, if any.

Disposals

When
a change in the Group’s ownership interest in a subsidiary result in a loss of control over the subsidiary, the assets and liabilities
of the subsidiary including any goodwill are derecognized. Amounts previously recognized in other comprehensive income in respect of
that entity are also reclassified to profit or loss or transferred directly to retained earnings if required by a specific standard.

Any
retained equity interest in the entity is remeasured at fair value. The difference between the carrying amount of the retained interest
at the date when control is lost and its fair value is recognized in profit or loss.

Transactions
with non-controlling interests

Changes
in the Group’s ownership interest in a subsidiary that do not result in a loss of control over the subsidiary are accounted for
as transactions with equity owners of the Company. Any difference between the change in the carrying amounts of the non-controlling interest
and the fair value of the consideration paid or received is recognized within equity attributable to the equity holders of the Company.

MAGNITUDE
INTERNATIONAL LTD AND ITS SUBSIDIARIES

NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS

  Material                                   
  accounting policy information (Continued)  
 ─────────────────────────────────────────────

  2.4      Convenience  

Translations
of amounts in the consolidated statements of financial position, consolidated statements of profit or loss and other comprehensive income,
and consolidated statements of cash flows from Singapore Dollar (“ S$” or “ SGD”) into United States Dollar (“ US$”
or “ USD”) as of and for the year ended April 30, 2025 are solely for the convenience of the reader and were calculated at
the noon middle rate of US$1 - S$1.3054 as of April 30, 2025, as published in H.10 statistical release of the United States Federal Reserve
Board. No representation is made that the S$ amounts could have been, or could be, converted, realized or settled into US$ at such rate
or at any other rate.

  2.5      Foreign                             

Functional
and presentation currency

Items
included in the financial statements of each entity in the Group are measured using the currency of the primary economic environment
in which the entity operates (“functional currency”). The functional currency of