We have had Magnatec 10W40 in Australia for decades. It's very common and used by many people here. It's a semi-synthetic that is rated API SN and Euro ACEA A3/B4.
Being A3/B4 means it's a high SAPS and high TBN ( > 10) oil which is good if you are using low quality fuel with high sulphur.
As a 40 grade oil, I think it sits where it is priced and marketed, above the mineral GTX 15W40 but below the full synthetic Edge 0W40.