Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 327

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 327
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456 |     |   |      6,667 |
|                       |     |                 | 13,292,448 |     |   | 10,828,795 |

| 10. | Other payables and accrued liabilities |

|                            |     | As of March 31, |      2025 |     |   |      2024 |
|:---------------------------|:----|:----------------|----------:|:----|:--|----------:|
|                            |     | $               |           |     | $ |           |
| Other payables             |     |                 | 2,377,528 |     |   | 3,479,363 |
| Refund liability           |     |                 |   586,416 |     |   |   490,600 |
| Accrued operating expenses |     |                 | 2,381,278 |     |   | 2,489,382 |
|                            |     |                 | 5,345,222 |     |   | 6,459,345 |

Other payables include advances from
suppliers for support of future programs.

<div align='center'>F-80

BAN LEONG TECHNOLOGIES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

(Amounts in Singapore dollars (“$”)</div>

| 11. | Leases |

Lessee Accounting

The Company has lease contracts for
certain office and warehouse premises, motor vehicles and office equipment used in its operations. The Company’s obligations under its
leases are secured by the lessor’s title to the leased assets. Generally, the Company is restricted from assigning and subleasing the
leased assets. There are several lease contracts that include extension and termination options and variable lease payments.

|                               |     |                                     | Classification | For the year ended March 31, |      2025 |     |   |      2024 |
|:------------------------------|:----|:------------------------------------|:---------------|:-----------------------------|----------:|:----|:--|----------:|
|                               |     |                                     |                | $                            |           |     | $ |           |
| Operating lease cost          |     |                                     |                |                              |           |     |   |           |
| Lease expenses                |     | Cost of revenues                    |                |                              |   666,250 |     |   |   734,778 |
|                               |     | General and