Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 314

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 314
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 investee (USD/share) |     |                 |        1.69 |   |     |      |        1.69 |   |

| * | Expected volatility was derived based on the historical volatility 
 of the share prices of a group of listed comparable companies.     |

<div align='center'>F-70

BAN LEONG TECHNOLOGIES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

(Amounts in Singapore dollars (“$”)</div>

| 2. | Summary of significant accounting policies (continued) |

Fair value
measurements (continued)

Significant unobservable inputs used
in the level 3 fair value measurements primarily include the share price of investee at measurement date, which was primarily derived
from recent fundraising transactions executed by the investee. The Company did not participate in such transactions. The potential impacts
of dilution and lack of marketability were not significant to the valuation. The notes do not pay dividends and there are no market conditions
to conversion.

The fair value for certain assets and
liabilities such as cash and cash equivalents, accounts receivable, other receivable and other assets, bank loans, accounts payable, other
payables and accrued liabilities have been determined to approximate carrying amounts due to the short maturities of these instruments.

Property,
plant and equipment

Property, plant and equipment are stated
at cost and depreciated using the straight-line basis over the estimated useful lives of the assets, as follows:

| Category             |     | Estimated useful lives |
| Computers            |     | 1 – 5 years            |
| Office equipment     |     | 5 years                |
| Furniture & fittings |     | 5 years                |
| Motor vehicles       |     | 5 years                |
| Renovation           |     | 5 years                |
| Warehouse equipment  |     | 1 year                 |

The cost and related accumulated depreciation
of assets sold or otherwise retired are eliminated from the accounts and any gain or loss is included in the consolidated statements of
operation and comprehensive loss. Expenditures for maintenance and repairs are charged to earnings as incurred, while additions, renewals
and betterments, which are expected to extend the useful life of assets, are capitalized. The Company also re-evaluates the periods of
depreciation to determine whether subsequent events and circumstances warrant revised estimates of useful lives.

Impairment of long-lived assets other than goodwill

The Company evaluates its long-lived
assets for impairment whenever