Company: TGE
Filing Date: 2025-04-11
Form Type: F-4
Source: 0001213900-25-031177
Chunk: 343

Company: Generation Essentials Group
Filing Date: 2025-04-11
Form: F-4
Chunk 343
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 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 and US$13.1 million in 2022, 2023 and 2024, respectively. Salaries and bonus and pension scheme contributions are the major components of our staff costs.

214 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 and US$0.6 million in losses in 2022, 2023 and 2024, respectively. Share of profits (losses) of joint ventures represents our share of losses or profits of our joint venture in the business of investment holding and our Singapore joint venture in the business of hotel investment. Finance costs Our finance costs were US$2.6 million, US$7.1 million and US$10.6 million in 2022, 2023 and 2024, respectively. Finance costs consist primarily of interests on our borrowings and interests on amounts due to non -controllingshareholders of our subsidiaries. Taxation Cayman Islands The Cayman Islands currently levies no taxes on individuals or corporations based upon profits, income, capital gains or appreciation and there is no taxation in the nature of inheritance tax or estate duty. There are no other taxes likely to be material to us levied by the government of the Cayman Islands except for stamp duties which may be applicable on instruments executed in or brought within the jurisdiction of the Cayman Islands. There are no exchange control regulations or currency restrictions in the Cayman Islands. France In France, corporate income tax rate of 15% applies to the first €38,120 of taxable profits for entities realizing a turnover up to €10 million for the years ended December 31, 2022, 2023 and 2024. The corporate income tax rate above €38,120 of taxable profits is 25% during the years ended December 31, 2022, 2023 and 2024. Italy Italian corporate entities are subject to a corporate income tax of 24%, and to a regional production tax of 3.9% during the year ended December 31, 2022, 2023 and 2024. United States In the United States, the federal corporate tax rate is