Company: TGE
Filing Date: 2025-07-10
Form Type: 424B3
Source: 0001213900-25-062835
Chunk: 158

Company: Generation Essentials Group
Filing Date: 2025-07-10
Form: 424B3
Chunk 158
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of financial assets at FVTPL and derivative financial instruments of US$50.5 million and dividend income of US$9.9 million,
partially offset by net fair value changes on financial assets at FVTPL of US$37.8 million and finance costs of 7.1 million;
and (ii) a net increase in working capital by US$3.3 million. The net increase in working capital was primarily attributable
to an increase in accounts receivable of US$1.8 million, a decrease in accounts payable of US$1.4 million, and a decrease in
contract liability of US$0.9 million, partially offset by an increase in other payables and accruals of US$1.3 million.

Net cash used in operating
activities in 2022 was US$1.4 million. The difference between our profit before tax of US$23.7 million and operating cash outflow
was primarily the result of (i) the adjustment of non-cash items of US$21.9 million, consisted primarily of net fair value changes
on financial assets at FVTPL of US$13.0 million, dividend income of US$6.4 million and gain from a bargain purchase of US$4.8 million,
partially offset by finance costs of US$2.6 million; (ii) a net increase in working capital by US$3.3 million. The net
increase in working capital was primarily attributable to a decrease in other payables and accruals of US$1.9 million, a decrease
in accounts payable of US$1.6 million and an increase in accounts receivable of US$0.9 million, partially offset by an increase
in contract liabilities of US$0.8 million.

Investing Activities

Cash generated from investing
activities in 2024 was US$3.3 million, consisting primarily of the acquisition of subsidiaries of US$4.3 million, partially
offset by the disposal of subsidiaries of US$1.0 million.

Cash generated from investing
activities in 2023 was US$6.7 million, consisting primarily of net receipt from amounts due from joint ventures.

Cash generated from investing
activities in 2022 was US$0.2 million due to the acquisition of subsidiaries.

Financing Activities

Cash generated from financing
activities in 2024 was US$6.2 million, consisting primarily of net receipt from amount due to ultimate holding company of US$34.