Company: MAGH
Filing Date: 2025-09-15
Form Type: 20-F
Source: 0001493152-25-013424
Chunk: 159

Company: Magnitude International Ltd
Filing Date: 2025-09-15
Form: 20-F
Item: Item 19
Chunk 159
---
182,392          200,939        153,930  
  Insurance premium loan      USD 111,999           December 2028      0.8% per annum above the bank’s prevailing USD Cost of Funds as determined by the bank            -      146,461          146,461        112,196  
  Working capital loan        SGD 600,000           May 2025           2.25% per annum                                                                              10,117      -                 10,117          7,750  
  Working capital loan        SGD 1,000,000         January 2030       7.75% per annum                                                                             174,618      791,822          966,440        740,340  
  Invoice financing           SGD 181,568           June 2025          7.00% per annum                                                                             184,015      -                184,015        140,964  
                                                                                                                                                                   480,757      1,346,652      1,827,409      1,399,885  

MAGNITUDE
INTERNATIONAL LTD AND ITS SUBSIDIARIES

NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS

  12.      Borrowings (Continued)  
 ───────────────────────────────────

For
the years ended April 30, 2024 and 2025, the effective interest rate of the Group’s bank borrowings ranged from 2.27 8.03 2.25 7.75

At
the end of the financial year, the Group’s bank borrowings are secured by:

  (i)       legal                                                                                                             
  (ii)      guarantees                                                                                                        

Lease
liabilities

Group
as a lessee

The
Group has lease contracts related to leasehold property loan with bank, arranged at floating interest rates. The interest rate
implicit in the leases is 3.38% 2.25 3.38

Motor vehicles financing under hire purchase were fully settled during the financial year ended April 30, 2024.

  (a)      Carrying                                                                        

Schedule of carrying amounts of
right of use assets presented within property, plant and equipment

                         Leasehold property      Motor vehicles         Total                
                                        SGD                 SGD           SGD                
 ─────────────────────────────────────────────────────────────────────────────────────────────
  At May 1, 2023                    608,856