Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 321

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 321
---
 2024 |   |
|:----|:----|:--|:----|:------------------------------|:----|:-----------------------------|---------:|:--|:----|:--|---------:|:--|
|     |     |   |     |                               |     | $                            |          |   |     | $ |          |   |
| USD |     | - |     | strengthened by 3% (2024: 3%) |     |                              | (158,797 | ) |     |   |  (52,011 | ) |
|     |     | - |     | weakened by 3% (2024: 3%)     |     |                              |  158,797 |   |     |   |   52,011 |   |
| MYR |     | - |     | strengthened by 3% (2024: 3%) |     |                              |   92,368 |   |     |   |   19,806 |   |
|     |     | - |     | weakened by 3% (2024: 3%)     |     |                              |  (92,368 | ) |     |   |  (19,806 | ) |
| THB |     | - |     | strengthened by 3% (2024: 3%) |     |                              |  128,912 |   |     |   |  139,583 |   |
|     |     | - |     | weakened by 3% (2024: 3%)     |     |                              | (128,912 | ) |     |   | (139,583 | ) |

Adoption of new accounting pronouncements

Effective April 1, 2024, the Company
adopted the amended guidance of Accounting Standards Codification (ASC) 848, Reference Rate Reform, which provides optional expedients
and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain
criteria are met. The guidance applies only to contracts, hedging relationships, and other transactions that reference LIBOR or another
reference rate expected to be discontinued because of reference rate reform. The transition did not have an impact on the consolidated
financial statements.

Recent accounting pronouncements

Effective March 31, 2026, the Company
will be required to adopt ASU 2023-09, Income Taxes (Topic 740): Impro