Company: TGE
Filing Date: 2025-07-10
Form Type: 424B3
Source: 0001213900-25-062835
Chunk: 350

Company: Generation Essentials Group
Filing Date: 2025-07-10
Form: 424B3
Chunk 350
---
 default approach to measure expected credit losses. The probability of default and loss given default are estimated
based on the Group’s assessment on credit ratings of the accounts receivable and historical loss experience. The calculation reflects the probability-weighted
outcome, the time value of money and reasonable and supportable information that is available at the reporting date about past events,
current conditions and forecasts of future economic conditions. The calculation of ECL considers forward looking information through the
use of publicly available economic data and forecasts, including macroeconomic data such as GDP growth and unemployment rate, management
judgement to reflect the qualitative factors and through the use of multiple probability weighted scenarios.

<div align='center'>F-81

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

| 15. | ACCOUNTS RECEIVABLE (cont.) |

As of December 31, 2022, the probability of default ranged
from 0.39% to 0.57% and the loss given default was estimated to be 45%. As of December 31, 2023, the probability of default ranged
from 0.39% to 0.57% and the loss given default was estimated to be 46.9%. As of December 31, 2024, the probability of default ranged
from 0.39% to 0.57% and the loss given default was estimated to be 46.9%. The ECL as of December 31, 2022, 2023 and 2024 were immaterial
and no loss allowance for accounts receivable was provided.

| 16. | PREPAYMENTS, DEPOSITS AND OTHER RECEIVABLES |

|                                                  |     | As of December 31, |       |   |     |         |       |   |     |         |       |   |
|                                                  |     |               2022 |       |   |     |    2023 |       |   |     |    2024 |       |   |
|                                                  |     |            US$’000 |       |   |     | US$’000 |       |   |     | US$’000 |       |   |
| Prepayments                                      |     |                    |    67 |   |     |         |   506 |   |     |