Company: TGE
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001213900-25-057225
Chunk: 317

Company: Generation Essentials Group
Filing Date: 2025-06-24
Form: F-1
Chunk 317
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ed Rate (“HIBOR”) plus 1.15% per annum |     |                    | 25,648 |     |         | 21,762 |     |         |      — |
| Interest bearing at 2 times of HIBOR plus 1.15% per annum                            |     |                    |  7,695 |     |         |  7,643 |     |         |      — |
|                                                                                      |     |                    | 52,611 |     |         | 53,727 |     |         | 63,019 |

Amounts due to subsidiaries’ non-controlling shareholders
are unsecured.

During the year ended December 31, 2024, interest bearing
balances were settled through the current account of ultimate holding company and the non-controlling shareholder.

| 27. | AMOUNT DUE TO ULTIMATE HOLDING COMPANY |

Amount due to ultimate holding company is unsecured, interest-free
and not expected to be repayable within 1 year after each of the reporting period.

| 28. | SHARE CAPITAL |

Share capital as of December 31, 2022 represented the
combined share capital of WME Assets Group, WME Direct Investment Limited, L’Officiel Inc SAS, L’Officiel Singapore Pte. Ltd.
and L’Officiel Malaysia Sdn. Bhd.

Share capital as of December 31, 2023 represented the
combined share capital of the Company, WME Assets Group, and AMTD Group (Canada) Inc.

<div align='center'>F-68

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

| 28. | SHARE CAPITAL (cont.) |

Voting Ordinary shares

|                                                                      |     | Number of 
 shares    |             |   |     | Share   
 capital |        |   |
|                                                                      |     |           |             |   |     | US$’000 |        |   |
| Ordinary shares of US$0.0001 each                                    |     |           |             |   |     |         |        |   |
| Authorized                                                           |     |           |             |   |     |         |        |   |
| As of February 7, 2023 (date of incorporation) and December 31, 2023 |     |