Company: MAGH
Filing Date: 2025-01-02
Form Type: DRS
Source: 0001493152-25-000010
Chunk: 53

Company: Magnitude International Ltd
Filing Date: 2025-01-02
Form: DRS
Chunk 53
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 upon our future operations and earnings, capital requirements and surplus, general financial condition, contractual restrictions and other factors that the Board may deem relevant. In addition, we are a holding company and depend on the receipt of dividends and other distributions from our subsidiaries to pay dividends on our Ordinary Shares.

There are no foreign exchange controls or foreign exchange regulations under current applicable laws of the various places of incorporation of our significant subsidiaries that would affect the payment or remittance of dividends.

For the financial year ended April
30, 2025, Herlin declared aggregate interim exempt (one-tier) dividends of S$1,600,000 to Mr. Lim of which S$500,000 has been paid
and S$1,100,000 is still outstanding. The outstanding dividend payable is unsecured, interest-free and repayable on demand. The outstanding
dividend payable is considered a short term liability, though the Company does not expect to repay it in the next 12 months. Mr. Lim
is our Chief Executive Director, and the controlling shareholder of our Company. See “Related Party Transactions.”

| 40 |

<div align='center'>CAPITALIZATION</div>

The following table sets forth our capitalization as of April 30, 2024 presented on:

| ● | an                
 actual basis; and |

| ● | on                                                                                         
 an as adjusted basis to reflect the issuance and sale of the Ordinary Shares by us in this 
 offering at the initial public offering price of US$[●] per Ordinary Share, the mid-point  
 of the estimated initial public offering price range set forth on the cover page of this   
 prospectus, after deducting the estimated discounts, non-accountable expense allowance and 
 the estimated offering expenses payable by us.                                             |

The as adjusted information below is illustrative only, and our capitalization following the completion of this offering is subject to adjustment based on the actual net proceeds to us from the offering. You should read this table in conjunction with “Use of Proceeds,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our combined financial statements and related notes included elsewhere in this prospectus.

|                                                                                                                                     |     | As                                             
 of April 30, 2024                              |       |   |     |     |       |     |          |     |     |     |     |
|:------------------------------------------------------------------------------------------------------------------------------------|:----|:-----------------------------------------------|------:|:--|:----|:----|------:|:----|:---------|:----|