Company: TGE
Filing Date: 2025-02-19
Form Type: DRS
Source: 0001213900-25-015012
Chunk: 345

Company: Generation Essentials Group
Filing Date: 2025-02-19
Form: DRS
Chunk 345
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2023 to US$0.6 million in the six months ended June 30, 2024. Finance costs Our finance costs increased from US$2.8 million in the six months ended June 30, 2023 to US$4.8 million in the six months ended June 30, 2024, mainly due to an increase in our borrowings and the interests payable thereon. Income tax expense Our income tax increased from US$1.0 million in the six months ended June 30, 2023 to US$1.5 million in the six months ended June 30, 2024, mainly due to the increase in profit before tax generated from our operations. Profit for the period As a result of the foregoing, our profit increased from US$18.3 million in the six months ended June 30, 2023 to US$34.9 million in the six months ended June 30, 2024. 217 Year Ended December 31, 2022 Compared to Year Ended December 31, 2023 Revenue Our revenue increased from US$31.3 million in 2022 to US$42.5 million in 2023. Segment Revenue Our segment revenue from the media and entertainment segment increased from US$7.7 million in 2022 to US$14.4 million in 2023, primarily due to the expansion of L’Officiel into various jurisdictions such as Singapore and Malaysia since 2023, as well as our acquisition of The Art Newspaper in October 2023 which brought in new sources of income. Our segment revenue from the hotel operation, hospitality and VIP services segment increased from US$3.2 million in 2022 to US$5.4 million in 2023, primarily due to the increase in the unit room rate and occupancy rate of our hotels. Our segment revenue from the strategic investment segment increased from US$20.4 million in 2022 to US$22.7 million in 2023, primarily due to (i) the increase in realized gain to the disposed investment from US$1.0 million in 2022 to US$50.5 million in 2023 as a result of the termination of certain derivative contract in 2023 and (ii) the increase in dividend income from US$6.4 million in 2022 to US$9.9 million in 2023. The increase was partially offset by the unrealized loss on our investments in the listed shares of