Company: TGE
Filing Date: 2025-07-10
Form Type: 424B3
Source: 0001213900-25-062835
Chunk: 327

Company: Generation Essentials Group
Filing Date: 2025-07-10
Form: 424B3
Chunk 327
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 differences arising, if any, are recognized
in other comprehensive income and accumulated in an exchange reserve (attributed to non-controlling interests as appropriate).

On the disposal of a foreign operation (that is, a disposal
of the Group’s entire interest in a foreign operation, or a disposal involving loss of control over a subsidiary that includes a
foreign operation, or a partial disposal of an interest in a joint arrangement or an associate that includes a foreign operation of which
the retained interest becomes a financial asset), all of the exchange differences accumulated in equity in respect of that operation attributable
to the owners of the Company are reclassified to profit or loss.

Borrowing costs directly attributable to the acquisition,
construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for
their intended use or sale, are added to the cost of those assets until such time as the assets are substantially ready for their intended
use or sale. All other borrowing costs are recognized in profit or loss in the period in which they are incurred.

| 3. | KEY SOURCE OF ESTIMATION UNCERTAINTY |

In the application of the Group’s accounting policies,
which are described in note 2.3, the Company is required to make judgments, estimates and assumptions about the carrying amounts of assets
and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience
and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an
on-going basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects
only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

<div align='center'>F-67

THE GENERATION ESSENTIALS GROUP
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
F OR THE YEARS ENDED DECEMBER 31, 2022, 2023 AND 2024</div>

| 3. | KEY SOURCE OF ESTIMATION UNCERTAINTY (cont.) |

The following are the key assumptions concerning the future,
and other key sources of estimation uncertainty at the end of each reporting period that may have a significant risk of causing a material
adjustment to the carrying amounts of assets and liabilities within the next financial year.

Impairment assessment of intangible assets

Determining whether intangible assets are impaired requires