Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 285

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 285
---
 Major vendors |

For the years ended March 31, 2024, two
vendors a and b are accounted for approximately 34% and 21% of the Company’s total cost of goods sold, respectively. For the year
ended March 31, 2023, three vendors a, b and c accounted for approximately 25%, 14% and 12% of the Company’s total cost of
goods sold, 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. As of March 31, 2023,
vendors b, f and a were accounted for approximately 32%, 29%, and 23% of the Company’s total balance of accounts payable, respectively.

| (c) | 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 $55,659 (SGD 75,000) per account. As of
March 31, 2024 and 2023, the Company had cash balance of $2,483,834 and $2,233,699 was maintained at DI Scheme banks in Singapore,
of $2,256,282 and $2,016,069 was subject to credit risk, respectively. The Hong Kong Deposit Protection Board pays compensation up to
a limit of $63,890 (HKD 500,000) if the bank with which an individual/a Company hold its eligible deposit fails. As of March 31,
2024 and 2023, cash balance of $135,184 and $289,859 was maintained at financial institutions in Hong Kong, of which $42,448 and $189,174
were subject to credit risk, respectively. The Malaysia deposit insurance corporation (PIDM) standard insurance amount is up to $52,938
(MYR 250,000) per depositor per insured bank. As of March 31, 2024 and 2023, the Company had cash balance of $58,041 and $15,029
was maintained at banks in Malaysia, of $1,663 and $0 was subject to credit risk. While management believes that these financial institutions
are of high credit quality, it also continually monitors