Company: MAGH
Filing Date: 2025-06-10
Form Type: F-1/A
Source: 0001641172-25-014489
Chunk: 68

Company: Magnitude International Ltd
Filing Date: 2025-06-10
Form: F-1/A
Chunk 68
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 insurance premium paid
for insurance bonds to secure new projects and keyman life insurance. Other increased administrative expenses are mainly to support the expanded business activities.

Other Income

Finance Costs

Finance costs primarily consisted of accrued interest
from bank borrowings and lease liabilities. Finance costs increased by S$20,804, or approximately 43.9% from S$47,363 for the financial
year ended April 30, 2023 to S$68,167 for the financial year ended April 30, 2024. The increase was mainly attributable to a rise in
interest rate and additional bank loans of S$400,000 that were taken during the financial year ended April 30, 2024.

Other Income

The following table sets forth the breakdown of our other income for the twelve months ended April 30, 2023 and 2024:

|                                                              |     | Financial Years Ended April 30, |        |     |   |       |     |      |        |     |   |       |
|                                                              |     |                            2023 |        |     |   |       |     | 2024 |        |     |   |       |
|                                                              |     |                              S$ |        |     | % |       |     |   S$ |        |     | % |       |
| Government grant                                             |     |                                 | 54,958 |     |   |  70.2 |     |      | 10,930 |     |   |  21.9 |
| Interest income                                              |     |                                 |    381 |     |   |   0.5 |     |      |    149 |     |   |   0.3 |
| Foreign exchange gain                                        |     |                                 |      - |     |   |     - |     |      |  9,698 |     |   |  19.4 |
| Fair value changes on financial assets at fair value through 
 profit or loss                                               |     |                                 |  5,247 |     |   |   6.7 |     |      |  7,280 |     |   |  14.6 |
| Rental income                                                |     |                                 |      - |     |   |     - |     |      | 12,010 |     |   |  24.1 |
| Sundry income                                                |     |                                 | 17,752 |     |   |