Company: TGE
Filing Date: 2025-04-25
Form Type: F-4/A
Source: 0001213900-25-035536
Chunk: 356

Company: Generation Essentials Group
Filing Date: 2025-04-25
Form: F-4/A
Chunk 356
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 cash equivalents at end of year             |     |                           1,208 |      |     |  6,121 |      |     | 19,978 |   |

We believe that our current cash and cash equivalents and our anticipated cash flows from operations will be sufficient to meet our anticipated working capital requirements and capital expenditures for at least the next 12 months. After the Business Combination, we may decide to enhance our liquidity position or increase our cash reserve for future investments through additional financing. The issuance and sale of additional equity will result in further dilution to our shareholders. The incurrence of indebtedness will result in increased fixed obligations and could result in operating covenants that would restrict our operations. We cannot assure you that financing will be available in amounts or on terms acceptable to us, if at all. Operating Activities Net cash generated from operating activities in 2024 was US$4.6 million. The difference between our profit before tax of US$46.4 million and operating cash inflow was primarily the result of (i) the adjustment of non -cashitems of US$36.9 million, consisted primarily of US$24.8 million in gain on disposal of subsidiaries, US$8.7 million in dividend income, US$26.3 million in net fair value changes on financial assets at FVTPL, US$10.6 million in finance costs and US$11.7 million in depreciation; and (ii) a net increase in working capital by US$4.9 million. The net increase in working capital was primarily attributable to an increase in accounts receivable of US$3.7 million, a decrease in contract liabilities of US$0.2million and an increase in prepayments, deposits and other receivables of US$2.4 million, partially offset by an increase in accounts payable of US$0.9million and an increase in other payables and accruals of US$0.4million. Net cash generated from operating activities in 2023 was US$1.1 million. The difference between our profit before tax of US$19.1 million and operating cash inflow was primarily the result of (i) the adjustment of non -cashitems of US$14.6 million, consisted mainly of realized gain in disposal of financial assets at FVTPL and derivative financial instruments of US$50.5 million and dividend income of US$9.9 million, partially offset by net fair value changes on financial assets at FVTPL of US