Company: MAGH
Filing Date: 2025-09-15
Form Type: 20-F
Source: 0001493152-25-013424
Chunk: 3

Company: Magnitude International Ltd
Filing Date: 2025-09-15
Form: 20-F
Item: Item 3
Chunk 3
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 our ability to retain them and attract
additional qualified personnel is critical to our success and our growth prospects.

Our
business operations depend on the continuing services of our executive directors and senior management, particularly Mr. Lim, our founder,
chief executive officer and executive director, Mr. Kelvin Sam Kai Mun, or Mr. Sam, our chief operating officer and executive director
and the other executive officers named in this Annual Report. While we have provided different incentives to our management, we cannot
assure you that we can continue to retain their services. If one or more of our key executives were unable or unwilling to continue in
their present positions, we may not be able to replace them easily or at all, our future growth may be constrained, our business may
be severely disrupted and our financial condition and results of operations may be materially and adversely affected, and we may incur
additional expenses to recruit, train and retain qualified personnel. In addition, although we have entered into confidentiality and
non-competition agreements with our key executives, there is no assurance that any member of our management team will not join one of
our competitors or form a competing business. If any dispute arises between us and our current or former officers, we may have to incur
substantial costs and expenses in order to enforce such agreements or we may be unable to enforce them at all. Further, we have purchased
two key man life insurance policies naming Mr. Lim as the insured life to protect the Group and subsidiaries from potential financial
impact associated with the loss of Mr. Lim’s services, although such policies may be insufficient to cover us for the damage resulting
from any such loss. We do not have any key-man life insurance on any other officers or employees.

We
also rely on the expertise of our project management staff to propose value engineering options to ensure the smooth management and execution
of our projects in a timely and cost-effective manner in order for us to improve our profit margin. The loss of any of our key management
personnel and other experienced and qualified project management staff could be detrimental to our ongoing operations as we may be unable
to replace them in a timely or effective manner in the market.

We
also depend on our ability to continue to hire and retain experienced and qualified personnel in order to manage our existing operations,
the expansion of our customer base and our future growth. We may be unable to continue to hire or retain key management personnel and
other experienced and qualified project management staff and this could adversely impact our operations and growth.

Inability
to