Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 45

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 45
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 in which we operate.

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Our revenue and net income may be materially and adversely affected by any economic slowdown or developments in the social, political, regulatory and economic environments in Asia as well as globally.

We may be adversely affected
by social, political, regulatory and economic developments in countries in which we operate. We derive a significant portion of its revenue
from our operations in Asia and are exposed to political and economic uncertainties, including, but not limited to, the risks of war,
terrorism, nationalism, nullification of contract, changes in interest rates, imposition of capital controls and methods of taxation that
affect consumer confidence, consumer spending, consumer discretionary income or changes in consumer purchasing habits. As a result, our
revenue and net income could be impacted to a significant extent by economic conditions in Asia and globally.

Substantially all of our assets
and operations are located in Asia. Approximately 59.6% and 55.0% of our total revenue for the fiscal year ended March 31, 2024 and
2023, respectively, was derived from our operations in Singapore. Our business, financial condition and results of operations may be influenced
to a significant degree by political, economic and social conditions in Singapore. The economies in certain Southeast Asian countries
differ from most developed markets in many respects, including the level of government involvement, level of development, growth rate,
control of foreign exchange, government policy on public order and allocation of resources. In some of the Southeast Asia markets, governments
continue to play a significant role in regulating industry development by imposing industrial policies. Moreover, some local governments
also exercise significant control over the economic growth and public order in their respective jurisdictions through allocating resources,
controlling payment of foreign currency-denominated obligations, setting monetary policies, and providing preferential treatment to particular
industries or companies.

While the Southeast Asia economy,
as a whole, has experienced significant growth over the past decades, growth has been uneven, both geographically and among various sectors
of the economy. Any adverse changes in economic conditions in Southeast Asia or in other markets in neighboring regions (such as China
and Japan), or in the policies of the governments or of the laws and regulations in each respective market could have a material adverse
effect on the overall economic growth of Southeast Asia. Such developments could adversely affect our business and operating results,
lead to reduction in demand for our game publishing and adversely affect our competitive position. Many of the governments in Southeast
Asia have