Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 276

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 276
---
2024 to 
 June 2024     |     | 7.1%          |     | Personal Guarantee by Choo See Wee, the Chairman of the Company. Collateral by fixed deposit in bank                                           |     |           | 5,395,568 |     |           |  5,833,938 |
| Total                |     |               |     |               |     |                                                                                                                                                |     | $         | 9,020,817 |     | $         | 10,219,124 |
| Bank Loans, current  |     |               |     |               |     |                                                                                                                                                |     | $         | 8,812,807 |     | $         |  9,381,560 |
| Bank Loan, non-      
 current              |     |               |     |               |     |                                                                                                                                                |     | $         |   208,010 |     | $         |    837,564 |

| * | From April 2024 to the date of the issuance of these consolidated financial statements, the Company obtained fourteen short term        
 bank loans from HSBC Bank and Citi Bank for an aggregate total of approximately $6.8 million to be due from April 2024 to October 2024. 
 These bank loans bear interest rates per annum from 5.3% to 7.4%.                                                                       |

The interest expense pertained to above banking
facilities for years ended March 31, 2024 and 2023 were $460,628 and $191,155 respectively. The weighted-average interest rate
pertaining to above mentioned bank loans were 7.1% and 6.0%, respectively, for the years ended March 31, 2024 and 2023, respectively.

<div align='center'>F-46

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

Note 11 — Other payables and accrued liabilities

|                                              |     |   | March 31, 
      2024 |     |   | March 31, 
      2023 |
|:---------------------------------------------|:----|:--|----------:|:----|:--|----------:|
| Accrued payroll and welfare                  |     | $ |   165,523 |     | $ |    96,183 |
| Accrued expenses(i)                          |     |   | 1,381