Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 122

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 122
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 likely to be enacted in the future, which could limit or require changes to the ways in which we conduct our business, and could both increase our compliance costs and decrease our revenues. See “Risk Factors — Risks Related to the Company’s International Operations, Legal and Regulatory Matters.”

Regulations in Singapore

We conduct business in Singapore through the following
subsidiaries: (a) Epicsoft Asia, which is primarily involved in the marketing and retail distribution of video games, game codes
and other related consumer items in Singapore, (b) TDM, which operates a branding and digital marketing agency, (c) Starry Jewelery,
which is in the business of fashion jewellery sales, (d) Martiangear, which is in the business of sales of gaming chairs and related
merchandise sales, and (e) 4Divinity, which is primarily involved in the digital and retail game business.

Each of our Singapore subsidiaries has been incorporated
in accordance with the Companies Act 1967 of Singapore (“Singapore Companies Act”) and registered with the Accounting
and Corporate Regulatory Authority of Singapore as required by the Singapore Companies Act.

Regulations on Video Game Distribution and Classification

Pursuant to the Films Act 1981 of Singapore,
the Infocomm Media Development Authority (“IMDA”), being the regulator of the information, communications
and media sectors in Singapore, is responsible for classifying films, videos and video games distributed in Singapore. In
particular, it administers the video game classification system under the Films Act 1981, which requires businesses importing or
distributing physical copies of video games in Singapore to submit the video games to the IMDA for rating and classification.
However, the video game classification system does not apply to games which are only available via internet download. Since the
online games that we offer are available only through online platforms, we in general are not subject to the video game
classification system. However, the IMDA retains the right to issue a rating and/or classification of any of the online games we
offer, should it choose to do so.

Under the Films (Class Licence for Video Games
Distribution) Order 2019, distributors and retailers of video games in Singapore are automatically class licensed, and shall comply with
the conditions of the class licence under the said Order such as ensuring that only appropriate video games or any related promotional
films are distributed.

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Regulations on Consumer Protection

There are various general consumer protection laws
in place