Company: MAGH
Filing Date: 2025-09-15
Form Type: 20-F
Source: 0001493152-25-013424
Chunk: 47

Company: Magnitude International Ltd
Filing Date: 2025-09-15
Form: 20-F
Item: Item 4
Chunk 47
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 to four years and one to twelve
months, respectively, while the time required for the actual completion of the project varies significantly depending on various factors
including the master construction progress of the relevant project. The following chart is a general overview of the major process of
our projects:

Identification
of business opportunities

Our
projects are obtained either by tender or quotation. The vast majority of our revenue recognized during the fiscal years ended April
30, 2023,2024 and 2025 were generated from contracts obtained through invited tender from repeat customers, word of mouth referrals or
contacts established from previous tenders/quotations or contracts. Other than the tender invitations sent to us, our contract department
will also try to identify potential tender opportunities published on Singapore government websites (such as Singapore Government’s
one-stop e-procurement portal GeBIZ, Town Council website and website of Port of Singapore Authority), and newspapers in Singapore.

Upon
identifying a tender opportunity or our receipt of a tender invitation, our contract department will seek the approval of our Chief Operating
Officer, or COO, before pursuing the tender opportunity or accepting/rejecting the tender invitation.

Tender
Process

Tender
intention inquiry/tender pre-qualification/tender invitation

Before
sending us the tender invitation, our potential customers may first send us a tender intention inquiry which briefly sets out the subject
matter and request us to reply if we are interested in participating in the tender. If we are interested in the project, our contract
department will normally provide them with information on our organizational structure, track record in similar projects and financial
standing. They may also send us invitations to pre-qualify for the tender process, in which case the invitation will normally contain
the pre-qualification standards which are a set of standards for our potential customers to assess our eligibility to tender in terms
of our financial, technical and organizational capability. In this case, we will submit documents (such as our work references, qualifications
and financial statements, etc.) to our potential customers to demonstrate that we have the requisite licenses and qualifications as well
as the financial strength to participate in the project. This tender intention inquiry or pre-qualification process generally takes one
to two weeks.

  29  

If
we confirm in the affirmative and our potential customer is satisfied with the information submitted by us, our potential customer would
send us a tender invitation with the tender documents, which typically consist of conditions of tender, specification of the works and
services required