Company: TGE
Filing Date: 2025-07-10
Form Type: 424B3
Source: 0001213900-25-062835
Chunk: 351

Company: Generation Essentials Group
Filing Date: 2025-07-10
Form: 424B3
Chunk 351
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 | 1,727 |   |
| Deposits                                         |     |                    |   199 |   |     |         |   353 |   |     |         |   195 |   |
| Other receivables                                |     |                    | 2,194 |   |     |         | 2,287 |   |     |         | 1,621 |   |
| Less: impairment losses provided under ECL model |     |                    |  (501 | ) |     |         |  (501 | ) |     |         |  (501 | ) |
| Total                                            |     |                    | 1,959 |   |     |         | 2,645 |   |     |         | 3,042 |   |

| 17. | DERIVATIVE FINANCIAL INSTRUMENTS |

|                                                         |     | As of December 31, |         |     |         |   |     |         |        |
|                                                         |     |               2022 |         |     |    2023 |   |     |    2024 |        |
|                                                         |     |            US$’000 |         |     | US$’000 |   |     | US$’000 |        |
| Upside Participation and Profit Distribution Agreements |     |                    | 167,388 |     |         | — |     |         |      — |
| Future Settlement Contract                              |     |                    |  17,681 |     |         | — |     |         |      — |
| Price Protection Agreement                              |     |                    |       — |     |         | — |     |         | 30,339 |
| Total                                                   |     |                    | 185,069 |     |         | — |     |         | 30,339 |

On April 1, 2019, the subsidiaries of the Group entered
into “Upside Participation and Profit Distribution Agreements” (the “Agreements”) with a counterparty in relation
to the movement of the share price of the entirety of certain listed shares of investments the Group owns (the “Underlying Assets”).
The Agreements have an original term of 12 months and can be extended for any further period or terminated at any time upon mutual
agreement of the contracting parties.

Pursuant to the Agreements:

| (a) | The counterparty is entitled to 25% (the “Sharing Percentage”)