Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 235

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 235
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 are translated into the functional currency at the exchange rates prevailing at the dates of the transaction.
Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency
using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the consolidated statements
of operation and comprehensive loss.

The reporting currency of the Company is United
States Dollars (“US$”) and the accompanying financial statements have been expressed in US$. The Company’s subsidiaries
in Singapore, Hong Kong, and Malaysia conduct their businesses and maintain their books and records in US$, or local currencies of Singapore
Dollars (“SGD”), Hong Kong Dollar (“HKD”), and Malaysian Ringgit (“MYR”), as their respective functional
currencies.

In general, for consolidation purposes, assets and
liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation
of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates
prevailing during the period. The gains and losses resulting from translation of financial statements of foreign subsidiary are recorded
as a separate component of accumulated other comprehensive loss within the statements of change in shareholders’ equity. Cash flows
are also translated at average translation rates for the periods. Therefore, amounts reported on the statement of cash flows will not
necessarily agree with changes in the corresponding balances on the consolidated balance sheets. Exchange rate presented below were quoted
by the federal reserve of the United States.

Translation of foreign currencies into US$ 1 have
been made at the following exchange rates for the respective periods:

|                                        |     |     |     As of 
 March 31, 
      2024 |     |     |     As of 
 March 31, 
      2023 |
|:---------------------------------------|:----|:----|----------:|:----|:----|----------:|
| Period-end SGD: US$1 exchange rate     |     |     |    1.3475 |     |     |    1.3294 |
| Period-end HKD: US$1 exchange rate     |     |     |    7.8259 |     |     |    7.8499 |
| Period-end MYR: US$1 exchange rate     |     |     |    4.7225 |     |     |     4.413 |
| Period-average SGD: US$