Company: MAGH
Filing Date: 2025-06-10
Form Type: F-1/A
Source: 0001641172-25-014489
Chunk: 60

Company: Magnitude International Ltd
Filing Date: 2025-06-10
Form: F-1/A
Chunk 60
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 added-value services with a skilled in-house team of licensed professionals and various BCA workhead registrations, specializing in electrical installations and certification services. Over the years, BNL has built up a growing portfolio of successful projects, particularly within the residential property market and public sector. Mr. Lim completed the acquisition of his business partner’s entire 60% equity stake of BNL on April 5, 2023.

The Company refers to IFRS 10 Consolidated Financial Statements including the Appendix B Application Guidance Assessing Control to determine whether Mr. Lim controls BNL based on all the following:

| (i)   | Power                                                                                      
 over the investee;                                                                         |
| (ii)  | Exposure,                                                                                  
 or rights, to variable returns from its involvement with the investee; and                 |
| (iii) | The                                                                                        
 ability to use its power over the investee to affect the amount of the investor’s returns. |

Below is a summary of assessment to conclude that Mr. Lim was able to exercise absolute control during the period from May 1, 2022 until Mr. Lim’s acquisition of the business partner’s equity stake:

| (i)   | Assessment                                                                       
 of purpose and design of BNL’s business activities                               |
| (ii)  | Power                                                                            
 over BNL’s decision making                                                       |
| (iii) | Exposure                                                                         
 or rights to variable returns from its involvement with BNL                      |
| (iv)  | The                                                                              
 ability to use its power over BNL to affect the amount of the investor’s returns |

With the above said, the accounts in BNL is consolidated accordingly.

Corporate Structure

The chart below sets out our corporate structure as of the date of this prospectus with percentages held pre- and post-offering.

Notes:

| (1) | A                                                                                   
 company wholly-owned by Mr. Lim.                                                    |
| (2) | A                                                                                   
 company wholly-owned by Mr. Cheung Sze Wah, Sam, an independent third party.        |
| (3) | A                                                                                   
 company wholly-owned by Ms. Yip Ka Ki, Cherry, an independent third party.          |
| (4) | A                                                                                   
 company wholly-owned by Mr. Chen Jiajun, an independent third party.                |
| (5) | A                                                                                   
 company wholly-owned by Mr. Cheung Ching Ping, Stephen, an independent third party. |
| (6) | A                                                                                   
 company wholly-owned by Mr. Cheung Sai Ho