Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 21

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 3
Chunk 21
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 disturbances, war, military conflict, religious or ethnic strife, terrorism and general security concerns may negatively affect our operations;  
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  enactment or any increase in the enforcement of regulations, including, but not limited to, those related to personal data protection and localization and cybersecurity, may incur compliance co...  
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  health epidemics, pandemics or disease outbreaks (including the COVID-19 outbreak) may affect our operations and demand for its gaming products; and  
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  natural disasters like volcanic eruptions, floods, typhoons and earthquakes may impact our operations severely.  
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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. Following our acquisition of Ban Leong and as we begin 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