Company: TGE
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001213900-25-057225
Chunk: 276

Company: Generation Essentials Group
Filing Date: 2025-06-24
Form: F-1
Chunk 276
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 Level 3 | based on valuation                                                                                            
 techniques for which the lowest level input that is significant to the fair value measurement is unobservable |

For assets that are recognized in the consolidated financial
statements on a recurring basis, the Group determines whether transfers have occurred between levels in the hierarchy by reassessing categorization
(based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.

<div align='center'>F-36

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

| 2. | APPLICATION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS 
 (cont.)                                                    |

Property, plant and equipment, apart from properties, are
stated at cost or fair value less accumulated depreciation and any impairment losses. The cost of an item of property, plant and equipment
comprises its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended
use.

Expenditure incurred after items of property, plant and equipment
have been put into operation, such as repairs and maintenance, is normally charged to the consolidated statement of profit or loss and
other comprehensive income in the year in which it is incurred. In situations where the recognition criteria are satisfied, the expenditure
for a major inspection is capitalized in the carrying amount of the asset as a replacement. Where significant parts of property, plant
and equipment are required to be replaced at intervals, the Group recognises such parts as individual assets with specific useful lives
and depreciates them accordingly.

When the Group makes payments for ownership interests of properties
of which includes both leasehold land and building elements, the entire consideration is allocated between the leasehold land and the
building elements in proportion to the relative fair values at initial recognition. To the extent the allocation of the relevant payments
can be made reliably, interest in leasehold land is presented as “right-of-use assets” included in “property, plant
and equipment” in the consolidated statement of financial position. When the consideration cannot be allocated reliably between
non-lease building element and undivided interest in the underlying leasehold land, the entire properties are classified as property,
plant and equipment.

Any revaluation increase arising from revaluation of property,
plant and equipment is recognized in other comprehensive income and accumulated in revaluation reserve, except