Company: TGE
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001213900-25-057225
Chunk: 277

Company: Generation Essentials Group
Filing Date: 2025-06-24
Form: F-1
Chunk 277
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 to the extent that it reverses
a revaluation decrease of the same asset previously recognise in profit or loss, in which case the increase is credited to profit or loss
to the extent of the decrease previously charged. A decrease in net carrying amount arising on revaluation of property, plant and equipment
is recognized in profit or loss to the extent that it exceeds the balance, if any, on the revaluation reserve relating to a previous revaluation
of that asset. On the subsequent sale or retirement of a revalued asset, the attributable revaluation surplus is transferred to retained
profits.

Depreciation is calculated on a straight-line basis to write
off the cost or valuation of each item of property, plant and equipment to its residual value over its estimated useful life.

Where parts of an item of property, plant and equipment have
different useful lives, the cost of that item is allocated on a reasonable basis among the parts and each part is depreciated separately.
Useful lives and the depreciation method are reviewed, and adjusted if appropriate, at least at each reporting period.

An item of property, plant and equipment including any significant
part initially recognized is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any
gain or loss on disposal or retirement recognized in the consolidated statement of profit or loss and other comprehensive income in the
year the asset is derecognized is the difference between the net sales proceeds and the carrying amount of the relevant asset.

Intangible assets acquired in a business combination

Intangible assets acquired in a business combination are recognized
separately from goodwill and are initially recognized at their fair value at the acquisition date (which is regarded as their cost).

<div align='center'>F-37

THE GENERATION ESSENTIALS GROUP
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
F OR THE YEARS ENDED DECEMBER 31, 2022, 2023 AND 2024</div>

| 2. | APPLICATION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS 
 (cont.)                                                    |

Subsequent to initial recognition, intangible assets acquired
in a business combination with finite useful lives are reported at costs less accumulated amortization and any accumulated impairment
losses, on the same basis as intangible assets that are acquired separately. Intangible assets acquired in a business combination with
indefinite useful lives are carried at cost less any subsequent accumulated impairment losses.

At the end of the reporting period, the Group