Company: TGE
Filing Date: 2025-12-03
Form Type: 424B3
Source: 0001213900-25-117807
Chunk: 324

Company: Generation Essentials Group
Filing Date: 2025-12-03
Form: 424B3
Chunk 324
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   |       |     | US$’000 |         |     | US$’000 |        |     | US$’000      |         |     | US$’000  |         |
| Accounts payable                                          |     |                         |      |     |              |  2,785 |     |           |     — |     |         |       — |     |         |      — |     |              |   2,785 |     |          |   2,785 |
| Other payables and accruals                               |     |                         |    — |     |              |  7,309 |     |           |     — |     |         |       — |     |         |      — |     |              |   7,309 |     |          |   7,309 |
| Borrowings                                                |     |                         | 4.03 |     |              |  2,276 |     |           | 6,829 |     |         | 231,297 |     |         | 17,870 |     |              | 258,272 |     |          | 219,609 |
| Amounts due to subsidiaries’ non-controlling shareholders |     |                         |      |     |              | 63,019 |     |           |     — |     |         |       — |     |         |      — |     |              |  63,019 |     |          |  63,019 |
| Amount due to ultimate holding                            
 company                                                   |     |                         |    — |     |              |      — |     |           |     — |     |         | 102,622 |     |         |      — |     |              | 102,622 |     |          | 102,622 |
|                                                           |     |                         |      |     |              | 75,389 |     |           | 6,829 |     |         | 333,919 |     |         | 17,870 |     |              | 434,007 |     |          | 395,344 |

Capital risk management

The Group manages its capital to ensure
that the Group will be able to continue as a going concern while maximizing the return to stakeholders through the optimization of the
debt and equity balance.

The capital structure of the Group
consists of debts and equity attributable to equity holders of the Group, comprising share capital and reserves, as disclosed in consolidated
statements