Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 346

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 346
---
 — |     |         | 10,258 |     |         |  10,066 |
|                                                                    |     |                    | 51,697 |     |         | 62,304 |     |         | 219,609 |

Fixed-rate bank borrowings of US$11,139,000 and US$10,983,000
as of December 31, 2023 and 2024 respectively are bearing an interest rate 5.0% per annum. All other floating-rate bank borrowings are
bearing a variable interest rate with a weighted average contractual interest rate of 3.18% p.a., 9.11% p.a. and 4.03% p.a., respectively,
as of December 31, 2022, 2023 and 2024.

As of December 31, 2022, 2023 and 2024, the Group had
bank borrowings of approximately US$51,117,000, US$61,794,000 and US$219,584,000, respectively, secured by the Group’s properties
with carrying amounts of approximately US$173,126,000, US$194,635,000 and US$551,099,000, respectively.

<div align='center'>F-85

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

| 23. | LEASE LIABILITIES |

|                                                                                  |     | As of December 31, |      |   |     |         |      |   |     |         |      |   |
|                                                                                  |     |               2022 |      |   |     |    2023 |      |   |     |    2024 |      |   |
|                                                                                  |     |            US$’000 |      |   |     | US$’000 |      |   |     | US$’000 |      |   |
| The carrying amounts are repayable:                                              |     |                    |      |   |     |         |      |   |     |         |      |   |
| Within one year                                                                  |     |                    |  100 |   |     |         |  185 |   |     |         |  253 |   |
| Within a period of more than one year but no more