Company: TGE
Filing Date: 2025-07-10
Form Type: 424B3
Source: 0001213900-25-062835
Chunk: 324

Company: Generation Essentials Group
Filing Date: 2025-07-10
Form: 424B3
Chunk 324
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 income and licensing, subscription and marketing services income. Revenue is recognized at a
point in time when control of the goods has transferred to the customers (i.e. sales of magazines) or upon the edition in which the advertisement
is displayed (i.e. advertising income). The Group also provides fashion, arts and luxury media licensing and marketing services to its
customers on its multimedia channels. The Group recognizes revenues of such services over time based on the contract term.

Hotel operation services income

Hotel operation services income (i.e. income from hotel rooms
revenue and other ancillary service) are recognized over time using output method by reference to the progress towards complete satisfaction
of the relevant performance obligation, as the customer simultaneously receives and consumes the benefits provided by the Group’s
performance as the Group performs. The Group allows an average credit period of not more than 30 days to travel agents and corporate
customers. All the hotel operation services are for periods of one year or less and the effect of the time value of money is considered
insignificant.

Revenue from other sources

Fair value changes on financial assets at FVTPL are recognized
in the period in which they arise. Gain/loss recognized for those financial assets at FVTPL held at the end of each reporting period is
recognized as net fair value changes on financial assets at FVTPL.

Dividend income is recognized when the shareholders’
right to receive payment has been established, it is probable that the economic benefits associated with the dividend will flow to the
Group and the amount of the dividend can be measured reliably.

Contract liabilities

A contract liability is recognized when the payment is made
and received or the payment is due (whichever is earlier) from a customer before the Group transfers the related goods or services. Contract
liabilities are recognized as revenue when the Group performs under the contract (i.e., transfers control of the related goods or services
to the customer).

Retirement benefit costs

Payments to defined contribution retirement benefit plans
are recognized as an expense when employees have rendered service entitling them to the contributions.

Short-term employee benefits

Short-term employee benefits are recognized at the undiscounted
amount of the benefits expected to be paid as and when employees rendered the services. All short-term employee benefits are recognized
as an expense unless another IFRS requires or permits the inclusion of the benefit in the cost of an asset. A liability is recognized
for benefits accruing to employees (such as wages and salaries) after deducting any amount already