Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 316

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 316
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 borrow on a collateralized basis the amount of the lease payments in
the same currency, for a similar term, in a similar economic environment. The ROU assets also include any lease payments made, net of
lease incentives. Lease terms are based on the non-cancellable term of the lease and may contain options to extend the lease when it is
reasonably certain that the Company will exercise that option. Leases with an initial lease term of 12 months or less are not recorded
on the consolidated balance sheets.

The Company has lease agreements with
lease and non-lease components, which are accounted for as a single lease component based on the Company’s policy election to combine
lease and non-lease components for its leases. Variable lease payments not dependent on an index or rate are excluded from the ROU asset
and lease liability calculations and are recognized in expense in the period which the obligation for those payments is incurred. Operating
lease expense for lease payments is recognized on a straight-line basis over the lease term. A finance lease ROU asset is depreciated
on a straight-line basis over the lesser of the useful life of the leased asset or the lease term. Interest on each finance lease liability
is determined as the amount that results in a constant periodic discount rate on the remaining balance of the liability.

<div align='center'>F-72

BAN LEONG TECHNOLOGIES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

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

| 2. | Summary of significant accounting policies (continued) |

Revenue
recognition

The Company applies the five-step model
outlined in ASC 606. The Company accounts for a contract when it has approval and commitment from the customer, the rights of the parties
are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. Variable
consideration is included in the transaction price if, in our judgment, it is probable that a significant future reversal of cumulative
revenue recognized under the contract will not occur. Timing of revenue recognition is generally the same as the timing of invoicing to
customers. Using the practical expedient in ASC 606, the Company does not adjust the promised amount of consideration for the effects
of a significant financing component if it expects, at contract inception, that the period between the transfer of the promised good or
service to the customer and when the customer pays for that good or service will be one year or less. The Company also