Company: TGE
Filing Date: 2025-02-19
Form Type: DRS
Source: 0001213900-25-015012
Chunk: 462

Company: Generation Essentials Group
Filing Date: 2025-02-19
Form: DRS
Chunk 462
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. F-26

WORLD MEDIA AND ENTERTAINMENT UNIVERSAL INC.
NOTES TO THE COMBINED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2022 and 2023 and
six months ended June 30, 2023 AND 2024 2.APPLICATION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS (cont.) 2.2APPLICATION OF AMENDMENTS TO IFRSs For the purpose of preparing and presenting the combined financial statements, the Group has consistently applied the accounting policies which conform with IFRSs, International Accounting Standards (“IASs”) and the related interpretations issued by the IASB that are effective for the accounting period beginning on January 1, 2024 throughout the reporting periods. New and amendments to IFRSs in issue but not yet effective The Group has not early applied the following new and amendments to IFRSs and International Accounting Standards (“IASs”) that have been issued but are not yet effective:

| Amendments to IFRS 9 and IFRS 7  |     | Amendments to the Classification and Measurement of Financial Instruments(3)             |
| Amendments to IFRS 10 and IAS 28 |     | Sale or Contribution of Assets between an Investor and its Associate or Joint Venture(1) |
| Amendments to IAS 21             |     | Lack of Exchangabilitiy(2)                                                               |
| IFRS 18                          |     | Presentation and Disclosure in Financial Statements(4)                                   |

____________ (1)Effective for annual periods beginning on or after a date to be determined (2)Effective for annual periods beginning on or after January 1, 2025 (3)Effective for annual periods beginning on or after January 1, 2026 (4)Effective for annual periods beginning on or after January 1, 2027 Except for the new and amendments to IFRS mentioned below, the directors of the Company anticipate that the application of the new and amendments to IFRSs will have no material impact on the combined financial statements in the foreseeable future. IFRS 18 “Presentation and Disclosure in Financial Statements” IFRS 18 “Presentation and Disclosure in Financial Statements”, which sets out requirements on presentation and disclosures in financial statements, will replace IAS 1 “Presentation of Financial Statements”. This new IFRS Accounting Standard, while carrying forward many of the requirements in IAS1, introduces new requirements to present specified categories and