Company: MAGH
Filing Date: 2025-09-15
Form Type: 20-F
Source: 0001493152-25-013424
Chunk: 133

Company: Magnitude International Ltd
Filing Date: 2025-09-15
Form: 20-F
Item: Item 19
Chunk 133
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 Carrying amount of non-controlling interest acquired                                                1,696,763  
  Non-controlling interest’s 60% equity interest in BNL recognized in merger reserve *                  150,000  
  Consideration paid by BNL to non-controlling interest *                                                     -  
  Difference recognized directly in equity                                                            1,846,763  

  The non-controlling                                                                                                                  

Organization
and reorganization

In
order to facilitate the Company’s initial public offering, the Company completed a series of reorganization transactions
(the “ Reorganization”), whereby, each of the operating and holding entities under the controlling shareholder’s common
control before and after the Reorganization, were ultimately contributed to the Company.

On
October 25, 2024, the Company was incorporated in the Cayman Islands with limited liability and the initial 1

On
November 21, 2024, Mr. Lim transferred the 1 500,000,000 0.001

MAGNITUDE
INTERNATIONAL LTD AND ITS SUBSIDIARIES

NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS

1. Overview

On
December 12, 2024, Elec was incorporated in the BVI with limited liability. Elec is authorized to issue a maximum of 50,000 1.00

On
December 12, 2024, the Company subscribed for, and Elec allotted and issued to it 1

On
December 27, 2024, Mr. Lim’s nominee BVI Co, XJL International Ltd., Beyond Merchant Limited, KeyStone Builders Group Limited,
Kingkey Holdings (International) Limited, Canningale Investments Limited and SwiftBuild Solutions Group Limited subscribed for 762,998 49,000 49,000 45,000 45,000 49,000 15,260 9,800 9,800 9,000 9,000 9,800 76.30 4.90 4.90 4.50 4.50 4.90

On January 10, 2025 2.7 27,000

On January 10, 2025 3.0 30,000

On
February 20, 2025, Mr. Lim’s nominee XJL transferred 3.4 34,000 18,000

On
March 19, 2025, Mr. Lim and the Company entered