Company: MAGH
Filing Date: 2025-06-25
Form Type: F-1/A
Source: 0001641172-25-016431
Chunk: 73

Company: Magnitude International Ltd
Filing Date: 2025-06-25
Form: F-1/A
Chunk 73
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 the engagement of professional service providers to support the IPO. The professional fees increased by S$108,853 from S$113,792 for the six months ended October 31, 2023 to S$222,645 for the six months ended October 31, 2024. Staff costs also increased by S$161,392 from S$373,881 for the six months ended October 31, 2023 to S$535,273 for the six months ended October 31, 2024 due to hiring of more staff to support the expanded business activities and commencement of new major projects.

Other Income (Expenses)

Finance Costs

Finance costs primarily consisted of accrued interest from bank borrowings and lease liabilities. Finance costs increased by S$17,470, or approximately 100.8% from S$17,338 for the six months ended October 31, 2023 to S$34,808 for the six months ended October 31, 2024. The increase was mainly attributable to a rise in interest rate and additional bank loans of S$400,000 that were taken on 6 November 2023.

Other Income

The following table sets forth the breakdown of our other income for the six months ended October 31, 2023 and 2024:

|                                                                             |     | For the Six Months Ended October 31, |        |     |   |       |     |      |        |     |   |       |
|                                                                             |     |                                 2023 |        |     |   |       |     | 2024 |        |     |   |       |
|                                                                             |     |                                   S$ |        |     | % |       |     |   S$ |        |     | % |       |
| Government grant                                                            |     |                                      |     73 |     |   |   0.5 |     |      |  2,126 |     |   |   9.4 |
| Interest income                                                             |     |                                      |     58 |     |   |   0.4 |     |      |      - |     |   |     - |
| Foreign exchange gain                                                       |     |                                      |      - |     |   |     - |     |      |    328 |     |   |   1.4 |
| Fair value changes on financial assets at fair value through profit or loss |     |                                      |    481 |     |   |   3.2