Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 66

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 4
Chunk 66
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game distribution and classification, internet content, consumer protection, labor laws, prevention of money laundering and financing
of criminal activity and terrorism, privacy and data protection, foreign exchange controls and competition laws, among others, all of
which are continuously evolving and developing. It is also likely that as our business grows and evolves to other countries, including
Japan, PRC, Brazil, U. A. E and United Kingdom, and
we will become subject to laws and regulations in additional jurisdictions. The scope and interpretation of the laws and regulations that
are or may be applicable to us are often unclear and may conflict. Additional laws in these and other areas affecting our business are
likely to be enacted in the future, which could limit or require changes to the ways in which we conduct our business, and could both
increase our compliance costs and decrease our revenues. See “ Risk Factors  -   Risks Related to the Company’s
International Operations, Legal and Regulatory Matters.”

Regulations in Singapore

We conduct business in Singapore
through the following subsidiaries: (a) Epicsoft Asia, which is primarily involved in the marketing and retail distribution of video
games, game codes and other related consumer items in Singapore, (b) TDM, which operates a branding and digital marketing agency,
(c) Starry Jewelery, which is in the business of fashion jewellery sales, (d) Martiangear, which is in the business of sales
of gaming chairs and related merchandise sales, and (e) 4Divinity, which is primarily involved in the digital and retail game business.

Each of our Singapore subsidiaries
has been incorporated in accordance with the Companies Act 1967 of Singapore (“Singapore Companies Act”) and
registered with the Accounting and Corporate Regulatory Authority of Singapore as required by the Singapore Companies Act.

Regulations on Video Game Distribution and Classification

Pursuant to the Films Act 1981
of Singapore, the Infocomm Media Development Authority (“IMDA”), being the regulator of the information, communications
and media sectors in Singapore, is responsible for classifying films, videos and video games distributed in Singapore. In particular,
it administers the video game classification system under the Films Act 1981, which requires businesses importing or distributing physical
copies of video games in Singapore to submit the video games to the IMDA for rating and classification. However, the video game classification
system does not apply to games which are only available via internet download. Since the online games that we offer are available only
through online