Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 42

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 42
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emics or disease outbreaks (including the COVID-19 outbreak) may affect our 
 operations and demand for its gaming products; and                                                |

| ● | natural disasters like volcanic eruptions, floods, typhoons and earthquakes may impact our operations 
 severely.                                                                                             |

Additionally, the laws in
the countries in which we operate may change and their interpretation and enforcement may involve significant uncertainties that could
limit the reliability of the legal protections available to us. We cannot predict the effects of future developments in the legal regimes
in the countries in which we operate.

Our revenue and net income may be materially and adversely affected by any economic slowdown or developments in the social, political, regulatory and economic environments in Asia as well as globally.

We may be adversely affected
by social, political, regulatory and economic developments in countries in which we operate. We derive a significant portion of its revenue
from our operations in Asia and are exposed to political and economic uncertainties, including, but not limited to, the risks of war,
terrorism, nationalism, nullification of contract, changes in interest rates, imposition of capital controls and methods of taxation
that affect consumer confidence, consumer spending, consumer discretionary income or changes in consumer purchasing habits. As a result,
our revenue and net income could be impacted to a significant extent by economic conditions in Asia and globally.

Substantially all of our
assets and operations are located in Asia. As we continue to integrate Ban Leong’s business operations with ours, we expect our
business, financial condition and results of operations to be influenced to a significant degree by political, economic and social conditions
in Singapore. The economies in certain Asian countries differ from most developed markets in many respects, including the level of government
involvement, level of development, growth rate, control of foreign exchange, government policy on public order and allocation of resources.
In some of the Asian markets, governments continue to play a significant role in regulating industry development by imposing industrial
policies. Moreover, some local governments also exercise significant control over the economic growth and public order in their respective
jurisdictions through allocating resources, controlling payment of foreign currency-denominated obligations, setting monetary policies,
and providing preferential treatment to particular industries or companies.

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While the Asia economy,
as a whole, has experienced significant growth over the past decades, growth has been uneven, both geographically and among various sectors
of the economy. Any adverse changes in economic conditions in Asia, or in the policies of the governments or of