Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 328

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 328
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80

BAN LEONG TECHNOLOGIES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

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

| 11. | Leases |

Lessee Accounting

The Company has lease contracts for
certain office and warehouse premises, motor vehicles and office equipment used in its operations. The Company’s obligations under
its leases are secured by the lessor’s title to the leased assets. Generally, the Company is restricted from assigning and subleasing
the leased assets. There are several lease contracts that include extension and termination options and variable lease payments.

|                               |     |                                     | Classification | For the year ended March 31, |      2025 |     |   |      2024 |
|:------------------------------|:----|:------------------------------------|:---------------|:-----------------------------|----------:|:----|:--|----------:|
|                               |     |                                     |                | $                            |           |     | $ |           |
| Operating lease cost          |     |                                     |                |                              |           |     |   |           |
| Lease expenses                |     | Cost of revenues                    |                |                              |   666,250 |     |   |   734,778 |
|                               |     | General and administrative expenses |                |                              |   283,328 |     |   |   333,397 |
| Short-term expenses           |     | Cost of revenues                    |                |                              |   421,414 |     |   |   420,899 |
|                               |     | General and administrative expenses |                |                              |     1,694 |     |   |     3,057 |
| Finance lease cost            |     |                                     |                |                              |           |     |   |           |
| Amortisation of leased assets |     | Cost of revenues                    |                |                              |    16,521 |     |   |       658 |
|                               |     | General and administrative expenses |                |                              |     7,027 |     |   |       299 |
| Interest on lease liabilities |     | Interest expense                    |                |                              |     2,688 |     |   |       695 |
| Total lease expenses          |     |                                     |                |                              | 1,398,922 |     |   | 1,493,783 |

Maturities
of lease liabilities are as follows:

|