"INDEFICIENTER" SEA NAVIGATION CO. LTD.
image by Zeljko Heimer, 17 October 2004
A black-and-white photograph of Magya confirms the funnel. Ownership and management are reported differently: Lloyds 1917–18 assigns the ship to Grünhut, while the cited registry records a 1912 takeover by Hungarian Bank & Commercial, managed by Indeficienter, possibly until an Italian takeover in 1925.
The flag is the Hungarian red-white-green horizontal tricolour with black 1901 in the white stripe.