Company: MAGH
Filing Date: 2025-07-18
Form Type: F-1/A
Source: 0001641172-25-020173
Chunk: 101

Company: Magnitude International Ltd
Filing Date: 2025-07-18
Form: F-1/A
Chunk 101
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 be issued by a bank or insurance company equal to 5.0% to 10.0% of the notional contract      
 sum to secure our Group’s due performance of the contract is subject to negotiation. Our largest customer, which accounted              
 for approximately 70.4% and 52.2% of our revenue during the fiscal years ended April 30, 2023 and 2024, respectively,                   
 generally waive the requirement of performance bonds as we have established rapport with them.                                          |
| Liquidated       
 damages          |     | If                                                                                                                                      
 completion of a project is delayed due to our fault, we may, subject to the rights for time extension, be required to pay liquidated    
 damages during the period in which the project works remain incomplete, typically a fixed sum per day or calculated based on certain    
 damages formula stipulated in the contract, subject to a maximum amount equal to 10.0% of the total contract sum.                       |
| Defect           
 liability period |     | A                                                                                                                                       
 period during which we remain responsible for, at our own expense, rectifying any defects or imperfections discovered in relation       
 to our installation or A&A works done. A defect liability period is generally 12 to 18 months from the date of completion of            
 the project.                                                                                                                            |

| 76 |

Project implementation

Formation of project team and handing over

After we have been formally awarded with the contract, the tender team in charge of the tender will hand over the project to a designated project team comprising members of the various divisions of our project management department. The project team is typically led by a project manager and supported by an assistant project manager, one or more project engineers depending on the scale of the project, a project supervisor, a project quantity surveyor, a contract administrator, a purchasing administrator and a safety officer and their main responsibilities are as follows:

| ☐ | project                                                                                          
 manager — mainly responsible for the preliminary design of electrical infrastructures            
 and ensuring that the project is completed on time based on the needs of our customer and        
 within budget, including the budgeting, organization, implementation and scheduling of the       
 project, as well as dealing with the internal and external stakeholders of the project (such     
 as attending technical meeting with customer and their consultants, dealing with subcontractors, 
 submitting monthly progress claim to customer and following up on payment certification),        
 inspection of materials, bulk material testing, site work inspections and the preparation        
 of non-conformance report, internal auditing and internal corrective action;