Company: GCL
Filing Date: 2025-09-05
Form Type: F-1/A
Source: 0001213900-25-085150
Chunk: 242

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-05
Form: F-1/A
Chunk 242
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 HOLDINGS LTD AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Investment in Cloudshelf Limited (“Cloudshelf”) On November 8, 2022, the Company entered into a subscription and shareholders agreement with Cloudshelf, a private limited company incorporated in England and Wales. Pursuant to the agreement, the Company subscribed for ordinary shares in Cloudshelf for a total consideration of $ 71,045, representing a 13.5% equity interest of Cloushelf. As the Company does not have significant influence over Cloudshelf, the investment is accounted for in accordance with ASC 321, The investment is measured at cost, with subsequent remeasurement to fair value only upon impairment or when there are observable prince changes in orderly transactions for identical or similarly investments. As of March 31, 2025, no impairment indicators were identified, and no loss was recorded.

Note 14 — Bank Loans

Outstanding balance of banking
facilities consisted of the following:

| Bank name                            
 United Overseas Bank Limited (“UOB”) |     | Maturity                    
 date                        
 July 2025 (Repaid in        
 July 2025)                  |     | Interest 
 rate     | 2.5%      |     | Collateral/Guarantee                                                                                        
 Personal Guarantee by Choo See Wee, the Chairman of the Company, and GCL BVI.                               |     | March 31, 
 2025      |    209,633 |     | March 31, 
 2024      |   826,000 |
|:-------------------------------------|:----|:----------------------------|:----|:---------|:----------|:----|:------------------------------------------------------------------------------------------------------------|:----|:----------|-----------:|:----|:----------|----------:|
| Citi Bank                            |     | June 2025 to July  2025     |     |          | 4.3%-6.1% |     | Personal Guarantee by Choo See Wee, the Chairman of the Company. Collateral by fixed deposit in bank        |     |           |  2,738,728 |     |           | 2,799,249 |
| HSBC Bank                            |     | April 2025 to July 2025     |     |          | 4.3%-6.1% |     | Personal Guarantee by Choo See Wee, the Chairman of the Company. Collateral by fixed deposit in bank        |     |