Company: TGE
Filing Date: 2025-07-10
Form Type: 424B3
Source: 0001213900-25-062835
Chunk: 373

Company: Generation Essentials Group
Filing Date: 2025-07-10
Form: 424B3
Chunk 373
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        |     | US$’000      |         |     | US$’000  |         |
| Accounts payable                                          |     |                         |      |     |              |  2,785 |     |           |     — |     |         |       — |     |         |      — |     |              |   2,785 |     |          |   2,785 |
| Other payables and accruals                               |     |                         |    — |     |              |  7,309 |     |           |     — |     |         |       — |     |         |      — |     |              |   7,309 |     |          |   7,309 |
| Borrowings                                                |     |                         | 4.03 |     |              |  2,276 |     |           | 6,829 |     |         | 231,297 |     |         | 17,870 |     |              | 258,272 |     |          | 219,609 |
| Amounts due to subsidiaries’ non-controlling shareholders |     |                         |      |     |              | 63,019 |     |           |     — |     |         |       — |     |         |      — |     |              |  63,019 |     |          |  63,019 |
| Amount due to ultimate holding company                    |     |                         |    — |     |              |      — |     |           |     — |     |         | 102,622 |     |         |      — |     |              | 102,622 |     |          | 102,622 |
|                                                           |     |                         |      |     |              | 75,389 |     |           | 6,829 |     |         | 333,919 |     |         | 17,870 |     |              | 434,007 |     |          | 395,344 |

Capital risk management

The Group manages its capital to ensure that the Group will
be able to continue as a going concern while maximizing the return to stakeholders through the optimization of the debt and equity balance.

The capital structure of the Group consists of debts and equity
attributable to equity holders of the Group, comprising share capital and reserves, as disclosed in consolidated statements of changes
in equity.

There were no changes on the Group’s approach to capital
risk management during the years.