Company: MAGH
Filing Date: 2025-09-15
Form Type: 20-F
Source: 0001493152-25-013424
Chunk: 54

Company: Magnitude International Ltd
Filing Date: 2025-09-15
Form: 20-F
Item: Item 4
Chunk 54
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As
we generally act as the main electrical contractor in a construction project, the main contractor’s insurance policies will normally
cover us and our subcontractors for the electrical project work we conduct for them, and we normally just have to take out insurance
policies to cover the exclusions and excesses which we are required to pay under the insurance policies of the main contractor. In cases
where we are the main contractor, we will normally be required to take out contractor’s all risks, work injury compensation and
public liability insurance to comply with the applicable laws and regulations and the requirements under the contracts to cover ourselves
as well as our subcontractors.

  34  

Project
execution process

The
project team conducts regular meetings with subcontractors to ensure that site work progresses according to schedule. Daily site inspections
(including visual inspections and measurements) are conducted to ensure that works are carried out according to proper procedures. Site
safety and construction quality are our critical focus areas, and hence our project manager closely monitor work sites during the project
execution process and we also engage independent licensed engineer to inspect our electrical works at different stages of the project.
In particular, we provide personal protective equipment such as helmets, safety boots, safety goggles, ear plugs and safety harness to
our employees, and to ensure their proper usage of such personal protective equipment. We also ensure our subcontractors will do the
same for their employees.

The
project manager conducts regular project reviews with our COO who is generally responsible for supervising project implementation. Our
COO together with the project manager will present and review project status with our CEO on a monthly basis. In terms of the financial
management of the project, our chief financial officer, or CFO, will prepare six-month cash flow forecasts for the project on a bi-monthly
basis and will also review the financial report and forecast results of the project with our CEO and COO on a monthly basis. Apart from
internal reporting, the project manager will also report project status to our customer from time to time.

We
have adopted ISO 9001:2015 (quality management) and ISO 450001:2018 (occupational health and safety) management systems to ensure that
the works undertaken by our subcontractors are delivered on schedule and conform with our customers’ standards as well as the applicable
laws and regulations and safety requirements imposed by the relevant government authorities.

Progress
payment, retention money and certification

We
generally do not receive any deposit or advance payment from our customers