Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 292

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 292
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As of March 31, 2025, vendors
h, a, and e accounted for approximately 46%, 16% and 16% of the Company’s total balance of accounts payable, respectively. As of
March 31, 2024, vendors a, h and f accounted for approximately 29%, 12%, and 10% of the Company’s total balance of accounts
payable, respectively.

(3) Credit risk

Financial
instruments that are potentially subject to significant concentrations of credit risk consist
primarily of cash. The Singapore Deposit Insurance Corporation Limited (SDIC) insures deposits
in a Deposit Insurance (DI) Scheme member bank or finance /Company up to approximately $55,783
(SGD 75,000) per account. As of March 31, 2025 and 2024, the Company had cash balance of
$17,323,837, and $2,483,834 was maintained at DI Scheme banks in Singapore, of $16,379,947
and $2,256,282 was subject to credit risk, respectively. The Hong Kong Deposit Protection
Board pays compensation up to a limit of $102,829 (HKD 800,000) if the bank with which an
individual/a Company hold its eligible deposit fails. As of March 31, 2025 and 2024, cash
balance of $427,289 and $135,184 was maintained at financial institutions in Hong Kong, of
which $218,660 and $42,448 were subject to credit risk, respectively. The Malaysia deposit
insurance corporation (PIDM) standard insurance amount is up to $56,351 (MYR 250,000) per
depositor per insured bank. As of March 31, 2025 and 2024, the Company had cash balance of
$110,745 and $58,041 was maintained at banks in Malaysia, of $50,485 and $1,663 was subject
to credit risk. The Brazilian Deposit Insurance System (FGC) provides deposit insurance coverage
of up to $43,550 (BRL 250,000) per depositor per financial institution. As of March 31, 2025,
and March 31, 2024, the Company had cash balances of $7,526 and $0 maintained in Brazilian
financial institutions, of which $0 were subject to credit risk. The China’s Deposit
Insurance Fund (DIF)