Company: GCL
Filing Date: 2025-09-05
Form Type: F-1/A
Source: 0001213900-25-085150
Chunk: 273

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-05
Form: F-1/A
Chunk 273
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 assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with GAAS, we:

| ● | Exercise professional judgment and maintain professional skepticism throughout the audit. |

| ● | Identify and assess the risks of material misstatement of the financial statements, whether due to fraud                                  
 or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence 
 regarding the amounts and disclosures in the financial statements.                                                                        |

| ● | Obtain an understanding of internal control 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 F-62 BAN LEONG TECHNOLOGIES LIMITED CONSOLIDATED BALANCE SHEETS (Amounts in Singapore dollars (“$”)

|                                                                                                                             |     | Note |       |     | As of March 31, 
 2025            |            |   |     | 2024 |            |   |
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