Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 304

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 304
---
 relevant to the audit in order to design audit procedures                             
 that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s 
 internal control. Accordingly, no such opinion is expressed.                                                                      |

| ● | Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting 
 estimates made by management, as well as evaluate the overall presentation of the financial statements.   |

| ● | Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise    
 substantial doubt about the Company’s ability to continue as a going concern for a reasonable period of time. |

We are required to communicate with those charged
with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal
control-related matters that we identified during the audit.

/s/ Ernst & Young LLP

Singapore

August 26, 2025

<div align='center'>F-62

BAN LEONG TECHNOLOGIES LIMITED

CONSOLIDATED BALANCE SHEETS

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

|                                                                                                                             |     | Note |       |     | As of March 31, 
 2025            |            |   |     | 2024 |            |   |
|:----------------------------------------------------------------------------------------------------------------------------|:----|:-----|------:|:----|:----------------|-----------:|:--|:----|:-----|-----------:|:--|
|                                                                                                                             |     |      |       |     | $               |            |   |     | $    |            |   |
| ASSETS                                                                                                                      |     |      |       |     |                 |            |   |     |      |            |   |
| Current assets                                                                                                              |     |      |       |     |                 |            |   |     |      |            |   |
| Cash and cash equivalents                                                                                                   |     |      |     3 |     |                 | 21,053,603 |   |     |      | 18,068,999 |   |
| Accounts receivable, net of allowance for credit losses of $200,029 and $182,690 as of March 31, 2025 and 2024 respectively |     |      |     4 |     |                 | 22,685,598 |   |     |      | 23,159,074 |   |
| Inventories, net