Company: TGE
Filing Date: 2025-07-10
Form Type: 424B3
Source: 0001213900-25-062835
Chunk: 354

Company: Generation Essentials Group
Filing Date: 2025-07-10
Form: 424B3
Chunk 354
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F-83

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

| 18. | CASH AND BANK BALANCES AND RESTRICTED CASH |

Cash and bank balances include cash on hand and demand deposits
at bank. The bank balances earn interest at floating rate of daily bank deposit rates and are deposited with creditworthy banks with no
recent history of default. The bank balances are deposited with creditworthy banks with no recent history of default.

As of December 31, 2022 and 2023, restricted deposits
held at banks were used to settle certain payables to vendors.

| 19. | ACCOUNTS PAYABLE |

|                           |     | As of December 31, |       |     |         |       |     |         |       |
|                           |     |               2022 |       |     |    2023 |       |     |    2024 |       |
|                           |     |            US$’000 |       |     | US$’000 |       |     | US$’000 |       |
| Payable to suppliers      |     |                    | 9,846 |     |         | 8,808 |     |         | 2,785 |
| Shown as:                 |     |                    |       |     |         |       |     |         |       |
| – current liabilities     |     |                    | 6,100 |     |         | 5,794 |     |         | 2,785 |
| – non-current liabilities |     |                    | 3,746 |     |         | 3,014 |     |         |     — |
|                           |     |                    | 9,846 |     |         | 8,808 |     |         | 2,785 |

The average credit period on purchases of goods is 30 days.

| 20. | OTHER PAYABLES AND ACCRUALS |

|                                         |     | As of December 31, |       |     |         |        |     |         |       |
|                                         |     |               2022 |       |     |    2023 |        |     |    2024 |       |
|                                         |     |            US$’000 |       |     | US$’000 |