Company: MAGH
Filing Date: 2025-06-25
Form Type: F-1/A
Source: 0001641172-25-016431
Chunk: 70

Company: Magnitude International Ltd
Filing Date: 2025-06-25
Form: F-1/A
Chunk 70
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 |       |     |      |           |     |   |       |
|                                    |     |                                 2023 |            |     |   |       |     | 2024 |           |     |   |       |
|                                    |     |                                   S$ |            |     | % |       |     |   S$ |           |     | % |       |
| Greenfield and brownfield projects |     |                                      | 13,226,030 |     |   |  97.3 |     |      | 5,544,368 |     |   |  76.2 |
| Ad-hoc services*                   |     |                                      |    363,185 |     |   |   2.7 |     |      | 1,735,471 |     |   |  23.8 |
| Total                              |     |                                      | 13,589,215 |     |   | 100.0 |     |      | 7,279,839 |     |   | 100.0 |

* Non-project works and services is comprised of revenue from service fee, labor cost charged, rental of machinery and equipment, transport costs incurred, maintenance works charged, among other things.

Our total revenue decreased by S$6,309,376 or approximately 46.4% from S$13,589,215 for the six months ended October 31, 2023 to S$7,279,839 for the six months ended October 31, 2024. The decrease was mainly attributable to lesser projects being constructed and/or completed during the financial period October 31, 2024 as compared to same period of the previous year.

Our net profit after income tax was S$919,027 and S$196,748 for the six months ended October 31, 2023 and 2024, respectively. The decrease in net income for the six months ended October 31, 2024 corresponded with the decrease in revenue during the financial period.

For the six months ended October 31, 2023, we did not have any public sector projects and for the six months ended October 31, 2024, approximately 7.9% of our total revenue was generated from projects derived from public sectors. For the six months ended October 31, 2023 and 2024, our revenue generated from projects derived from private sectors accounted for approximately 97.3% and 68.3% of