Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 324

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 324
---
valued amounts based on the valuation performed by independent qualified professional valuers. In determining the fair
value, the valuers have based their valuation on income approach for respective properties, which involves certain estimates, including
appropriate discount rates and market transactions of comparable properties, as appropriate. In relying on the valuation, management of
the Group has exercised its judgement and is satisfied that the methods of valuation adopted are appropriate for the relevant property
and reflective of current market conditions. Details of the valuation methodology are disclosed in note 11.

| 4. | OPERATING SEGMENT INFORMATION |

The Group operates its businesses in three operating segments:
media and entertainment segment, hotel operations, hospitality and VIP services segment and strategic investment segment.

The following summary describes the operations in each of
the Group’s operating and reportable segment:

| (a) | Media and entertainment segment: The Group engages in the                                                                            
 provision of print and digital advertising campaigns, licensing, and value-added marketing services including branded content, video 
 production, social media activation, event creation, and experiential marketing, among other services.                               |

| (b) | Hotel operation, hospitality and VIP services segment: The      
 Group engages in hotel operations, hospitality and VIP services |

| (c) | Strategic investment segment: The Group engages in proprietary                                                                            
 investments and management of global investment portfolio (including listed and unlisted equity shares investments and movie income right 
 investments).                                                                                                                             |

Management closely monitors the performance of the Group’s
operating segments separately to support informed decisions on resource allocation and performance evaluation. Segment performance is
evaluated based on reportable segment result, which is a measure of profit (loss) before tax from operations. The profit (loss) before
tax from operations is measured after allocation of attributable costs of specialized staff and direct operating costs consistently with
the Group’s profit (loss) before tax from operations. Other income, gain from a bargain purchase, finance costs, impairment loss
under ECL model on financial assets and corporate expenses such as staff costs not directly attributable to segments, short-term leases
and administrative expenses are excluded from such measurement.

<div align='center'>F-68

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

| 4. | OPERATING SEGMENT INFORMATION (cont.) |

Segment assets exclude prepayments, deposits and other rece