Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 292

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 292
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 Hong Kong, of
which $218,660 and $42,448 were subject to credit risk, respectively. The Malaysia deposit
insurance corporation (PIDM) standard insurance amount is up to $56,351 (MYR 250,000) per
depositor per insured bank. As of March 31, 2025 and 2024, the Company had cash balance of
$110,745 and $58,041 was maintained at banks in Malaysia, of $50,485 and $1,663 was subject
to credit risk. The Brazilian Deposit Insurance System (FGC) provides deposit insurance coverage
of up to $43,550 (BRL 250,000) per depositor per financial institution. As of March 31, 2025,
and March 31, 2024, the Company had cash balances of $7,526 and $0 maintained in Brazilian
financial institutions, of which $0 were subject to credit risk. The China’s Deposit
Insurance Fund (DIF) provides deposit insurance coverage of up to $68,902 (RMB 500,000) per
depositor per financial institution. As of March 31, 2025, and March 31, 2024, the Company
had cash balances of $377,982 and $0 maintained in China’s financial institutions,
of which $309,048 and $0 were subject to credit risk, respectively.

While management believes
that these financial institutions are of high credit quality, it also continually monitors their credit worthiness.

The Company is also exposed
to risk from accounts receivable and other receivables. These assets are subjected to credit evaluations. An allowance has been made
for estimated unrecoverable amounts which have been determined by reference to past default experience and the current economic environment.

<div align='center'>F-51

GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

Note 22 — Leases

As of March 31, 2025 and
2024, the Company has engaged in multiple offices and warehouse leases which were classified as operating leases. In addition, the Company
engaged in a few automobiles’ leases under finance lease agreements.

The Company occupies various
offices under operating lease agreements with a term shorter than twelve months which it elected not to recognize lease assets and lease
liabilities under ASC 842. Instead, the Company recognized the lease payments in profit or loss