Company: MAGH
Filing Date: 2025-09-15
Form Type: 20-F
Source: 0001493152-25-013424
Chunk: 49

Company: Magnitude International Ltd
Filing Date: 2025-09-15
Form: 20-F
Item: Item 4
Chunk 49
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contract sums where the work performed will be measured and valued against agreed rates for progress and/or final payment. As such, when
deciding on our tender price, we also make reference to price trends of equipment and materials, trends in the labor market, previous
tender records and awarded tender price of previous similar jobs on top of getting quotations from subcontractors and material suppliers.
After we have determined the estimated costs (which will include the costs of equipment, materials, subcontractors, labor, preliminary
drawings, professional engineering, safety and environmental measures, testing, scaffolding, boom lift or area platform and insurance
cost), we add on our desired profit margin before we propose a tender price.

Tender
submission and post-tender interview

Once
the base price is determined, the completed tender documents will be submitted to our COO for review before they are sent to our CEO
for final approval. Once the final bid price has been signed off by our CEO, our contract department will submit the completed tender
documents based on the final bid price to the potential customer. The period from our receipt of tender documents to submission of tender
proposal to potential customer is generally about four to eight weeks.

After
the tender cut-off date, the potential customer will review all submitted tender proposals and then arrange interviews with the short-listed
candidates. Our contract department will follow up with all necessary requirements to increase the possibility of a successful tender,
including attending tender interviews, giving presentations and explaining our bid, responding to queries, discussion on price and/or
contract terms and if required, amending our submitted drawings and revising our tender price. Our contract department will also provide
management updates throughout the tender process.

  30  

Quotation

For
small scale projects and simple works, our customers may request for quotations from us directly and engage us as their main contractors
if our quotations are acceptable to them. In these cases, our contract department will be responsible for the preparation of the quotation
and the review process will be similar to those for tenders described above. As there are usually fewer formalities involved with a quotation,
the period from our receipt of quotation documents to submission of quotation to potential customer is generally about 30 days.

Award
of contract

The
period for an invitation to tender to become an award contract is generally three to six months. During the fiscal years ended April
30, 2023, 2024 and 2025, our tender success rate was approximately 60.0%,