Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 128

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 128
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access, loss or damage and (b) prevent the loss of any storage medium or device on which personal data is stored. In the event of
a data breach involving any personal data in an organization’s possession or control, the Singapore PDPA requires the organization
to reasonably and expeditiously assess whether the data breach is notifiable and notify the PDPC and, unless exceptions apply, the affected
individuals of the data breach, if the data breach is assessed to be one that (a) is likely to result in significant harm or impact
to the individuals to whom the information relates, or (b) is, or is likely to be, of a significant scale. Other obligations include
accountability, retention and requirements around the overseas transfers of personal data.

In addition, Do-Not-Call (“DNC”)
requirements require organizations to check “Do-Not-Call” registries prior to sending marketing messages addressed to Singapore
telephone numbers, through voice calls, fax or text messages, unless clear and unambiguous consent to such marketing was obtained from
the individual.

Non-compliance with the Singapore PDPA may attract
financial penalties or even criminal liability. The PDPC has broad powers to give any such directions as it thinks fit to ensure compliance,
which include requiring an organization to pay a financial penalty. In this connection: (i) in the case of contravention of the parts
of the Singapore PDPA which sets out the obligations of organizations relating to data protection (including the obligation to protect
and care for personal data, and to conduct assessments of data breaches), the maximum financial penalty that may be imposed: (a) on
an organization whose annual turnover in Singapore exceeds S$10 million is 10% of the organization’s annual turnover in Singapore,
if the contravention occurs on or after October 1, 2022; and (b) in any other case is S$1 million; and (ii) in the
case of contravention of the DNC requirements, the maximum financial penalty that may be imposed is S$1 million.

Regulations on Foreign Investment and Exchange Control

Singapore does not have an umbrella regime for regulating
foreign investment. Instead, foreign investment is regulated (if at all) by sector. Singapore imposes no significant restrictions on the
repatriation of earnings and capital, or on remittances, foreign exchange transactions and capital movements.

Regulations in Malaysia

We conduct business in Malaysia through our subsidiary,
Epicsoft Malaysia, which is primarily engaged in