Company: MAGH
Filing Date: 2025-02-24
Form Type: DRSLTR
Source: 0001493152-25-008054
Chunk: 4

Company: Magnitude International Ltd
Filing Date: 2025-02-24
Form: DRSLTR
Chunk 4
---
 an ability to       
 drive financial outcomes.                                                                       |

Conclusion: Mr. Lim’s financial interest in the company means he is exposed to variable returns, meeting the second criterion under IFRS 10.

| 4. | The                                                                              
 ability to use its power over BNL to affect the amount of the investor’s returns |

| - | Mr. Lim can directly influence profitability by controlling key strategic and operational decisions                        |
| - | He has control over tendering and contracts, which are revenue-generating activities.                                      |
| - | Legal management and staff appointments allow him to shape business risk and efficiency, affecting the company’s financial 
 outcomes.                                                                                                                  |

Conclusion: Since Mr. Lim can influence the company’s profitability and risk management, he meets the third criterion of IFRS 10.

In response to the Staff’s comment, a summary about Mr. Lim’s control over BNL was stated on Page 7.

| ●                                                                                                                                 
 To the extent BNL was under the control of Mr. Lim for all periods presented in your financial statements, please tell us how you 
 determined it was unnecessary to present non-controlling interest for the periods that BNL was not 100% owned by Mr. Lim.         
 The                                                                                                                               
 preparation of the consolidated financial statement is based on principal of common control                                       
 through the completion of the reorganization. As at the reporting date April 30, 2024 and                                         
 April 30, 2023 (before the completion of the reorganization), Mr. Lim has 100% of equity                                          
 interest in BNL. After the completion of the reorganization, the equity interest of BNL still                                     
 remains the same and ultimately controlled by Mr. Lim (please see assessment above in point                                       
 14). The Company also considered that there was not distribution of earnings ie. dividends                                        
 to shareholders. Therefore, it was unnecessary to present non-controlling interest for the                                        
 periods that BNL was not 100% owned by Mr. Lim.                                                                                   |
|:----------------------------------------------------------------------------------------------------------------------------------|
| ●                                                                                                                                 
 To the extent BNL was not under the control of Mr. Lim for all periods presented in your financial statements, please tell us and 
 revise your filing to disclose the accounting for the acquisition of BNL.                                                         |
| In                                                                                                                                
 response to the Staff’s comment, the Company has revised the referenced disclosure on page 4.                                     |

7. Contract assets/liabilities

Transaction price allocated to remaining performance obligations, page F-26

|