Company: TGE
Filing Date: 2025-02-19
Form Type: DRS
Source: 0001213900-25-015012
Chunk: 340

Company: Generation Essentials Group
Filing Date: 2025-02-19
Form: DRS
Chunk 340
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 operation primarily includes utilities expenses, repair and maintenance of the hotel properties, travel agent commission and cleaning expenses. Our cost of hotel operation was US$1.7million, US$2.1million, US$1.3million and US$1.9million in 2022, 2023 and during the six months ended June 30, 2023 and 2024, respectively. Other income Our other income was US$0.5 million, US$1.2 million, US$0.5 million and US$24.8 million in 2022, 2023 and during the six months ended June 30, 2023 and 2024, respectively. Other income comprises gain on disposal of subsidiaries, bank interest income and others. Gain from a bargain purchase Our gain from a bargain purchase was US$4.8 million and US$4.5 million in 2022 and 2023, respectively, representing the gain from our acquisition of the business of L’Officiel and The Art Newspaper in April 2022 and October 2023, respectively. We recorded no gain from a bargain purchase during the six months ended June 30, 2023 and 2024.

212 Other operating expenses Our other operating expenses were US$3.5 million, US$5.7 million, US$1.4 million and US$6.1 million in 2022, 2023 and during the six months ended June 30, 2023 and 2024, respectively. Other operating expenses primarily include depreciation relating to our hotel properties, advertising and promotion expenses, IT related costs, legal and professional fee, premises costs, travelling expenses and others. Staff costs Our staff costs were US$3.9 million, US$7.9 million, US$3.8 million and US$5.7 million in 2022, 2023 and during the six months ended June 30, 2023 and 2024, respectively. Salaries and bonus and pension scheme contributions are the major components of our staff costs. Share of profits (losses) of joint ventures Our share of profits (losses) of joint ventures was US$0.8 million in profit, US$2.6 million in losses, US$1.0 million in losses and US$0.6 million in losses in 2022, 2023 and during the six months ended June 30, 2023 and 2024, respectively. Share