Company: TGE
Filing Date: 2025-12-03
Form Type: 424B3
Source: 0001213900-25-117807
Chunk: 313

Company: Generation Essentials Group
Filing Date: 2025-12-03
Form: 424B3
Chunk 313
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able nature due to their fixed-for-fixed redemption feature. No shares were redeemed during
the year, and there are no plans or obligations to redeem these shares in the foreseeable future.

| 29. | RECONCILIATION OF LIABILITIES ARISING FROM 
 FINANCING ACTIVITIES                       |

The table below details changes in
the Group’s liabilities arising from financing activities, including both cash and non-cash changes. Liabilities arising from financing
activities are those for which cash flows were, or future cash flows will be, classified in the Group’s consolidated statements
of cash flows as cash flows from financing activities.

|                                  |     | Borrowings |         |   |     | Lease       
 liabilities |      |   |     | Amount        
 due to        
 subsidiaries’ 
 non-          
 controlling   
 shareholders  |         |   |     | Amount   
 due to   
 ultimate 
 holding  
 company  |         |   |     | Total   |         |   |
|                                  |     | US$’000    |         |   |     | US$’000     |      |   |     | US$’000       |         |   |     | US$’000  |         |   |     | US$’000 |         |   |
| As of January 1, 2022            |     |            |  45,809 |   |     |             |    — |   |     |               |  58,041 |   |     |          |  59,464 |   |     |         | 163,314 |   |
| Finance costs                    |     |            |   1,550 |   |     |             |    — |   |     |               |   1,036 |   |     |          |       — |   |     |         |   2,586 |   |
| Acquisition of subsidiaries      |     |            |     585 |   |     |             |    — |   |     |               |       — |   |     |          |       — |   |     |         |     585 |   |
| Recognition of lease liabilities |     |            |       — |   |     |             |  219 |   |     |               |       — |   |     |          |       — |   |     |         |     219 |   |
| Cash flows                       |     |            |   3,753 |   |     |