Company: TGE
Filing Date: 2025-02-19
Form Type: DRS
Source: 0001213900-25-015012
Chunk: 475

Company: Generation Essentials Group
Filing Date: 2025-02-19
Form: DRS
Chunk 475
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 creditors, including the Group, in full (without taking into account any collaterals held by the Group). Irrespective of the above, the Group considers that default has occurred when a financial asset is more than 90 days past due unless the Group has reasonable and supportable information to demonstrate that a more lagging default criterion is more appropriate. Credit-impaired financial assets A financial asset is credit -impairedwhen one or more events that have a detrimental impact on the estimated future cash flows of that financial asset have occurred. Evidence that a financial asset is credit -impairedincludes observable data about the following events: a)significant financial difficulty of the issuer or the borrower; b)a breach of contract, such as a default or past due event; c)the lender(s) of the borrower, for economic or contractual reasons relating to the borrower’s financial difficulty, having granted to the borrower a concession(s) that the lender(s) would not otherwise consider; or d)it is becoming probable that the borrower will enter bankruptcy or other financial reorganization. Write-off policy The Group writes off a financial asset when there is information indicating that the counterparty is in severe financial difficulty and there is no realistic prospect of recovery, for example, when the counterparty has been placed under liquidation or has entered into bankruptcy proceedings. Financial assets written off may still be subject to enforcement activities under the Group’s recovery procedures, taking into account legal advice where appropriate. A write -offconstitutes a derecognition event. Any subsequent recoveries are recognized in profit or loss. F-36 WORLD MEDIA AND ENTERTAINMENT UNIVERSAL INC.
NOTES TO THE COMBINED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2022 and 2023 and
six months ended June 30, 2023 AND 2024 2.APPLICATION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS (cont.) Measurement and recognition of ECL The measurement of ECL is a function of the probability of default, loss given default (i.e. the magnitude of the loss if there is a default) and the exposure at default. The assessment of the probability of default and loss given default is based on historical data and forward -lookinginformation. Estimation of ECL reflects an unbiased and probability -weightedamount that is determined with the respective risks of default occurring as the weights. Generally, the ECL is the difference between all contractual cash flows that are due to the Group in accordance with the contract and the cash flows