Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 323

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 323
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764 |   |
| Allowance for credit losses |     |                 |   (200,029 | ) |     |   |   (182,690 | ) |
| Accounts receivable, net    |     |                 | 22,685,598 |   |     |   | 23,159,074 |   |

Expected credit losses

The movement of
the allowance accounts used to record the impairment are as follows:

|                                                          |     | As of March 31, |    2025 |   |     |   |     2024 |   |
|:---------------------------------------------------------|:----|:----------------|--------:|:--|:----|:--|---------:|:--|
|                                                          |     | $               |         |   |     | $ |          |   |
| Movement in allowance accounts:                          |     |                 |         |   |     |   |          |   |
| At April 1                                               |     |                 | 182,690 |   |     |   |  330,690 |   |
| Allowance for/(writeback of) expected credit losses, net |     |                 |  26,316 |   |     |   | (148,000 | ) |
| Written off                                              |     |                 |  (8,977 | ) |     |   |        – |   |
| At March 31                                              |     |                 | 200,029 |   |     |   |  182,690 |   |

<div align='center'>F-77

BAN LEONG TECHNOLOGIES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

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

| 5. | Inventories |

|                |     | As of March 31, |       2025 |     |   |       2024 |
|:---------------|:----|:----------------|-----------:|:----|:--|-----------:|
|                |     | $               |            |     | $ |            |
| Balance sheet: |     |                 |            |     |   |            |
| Finished goods |     |                 | 33,567,179 |     |   | 31,208,023 |

As of March 31, 2025 and 2024, inventory
valuation reserves, which are principally comprised of allowances for estimated excess and obsolete inventories, amounted to $138,