Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 319

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 319
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 recognizes the right-of-use assets and the related lease liabilities, the Group first determines whether the tax deductions
are attributable to the right-of-use assets or the lease liabilities.

For leasing transactions in which the tax deductions are attributable
to the lease liabilities, the Group applies IAS 12 Income Taxes requirements to lease liabilities and related assets separately.
The Group recognizes a deferred tax asset related to lease liabilities to the extent that it is probable that taxable profit will be available
against which the deductible temporary difference can be utilized and a deferred tax liability for all taxable temporary differences.

Revenue from contracts with customers

Revenue from contracts with customers is recognized when control
of goods or services is transferred to the customers at an amount that reflects the consideration to which the Group expects to be entitled
in exchange for those goods or services.

When the consideration in a contract includes a variable amount,
the amount of consideration is estimated to which the Group will be entitled in exchange for transferring the goods or services to the
customer. The variable consideration is estimated at contract inception and constrained until it is highly probable that a significant
revenue reversal in the amount of cumulative revenue recognized will not occur when the associated uncertainty with the variable consideration
is subsequently resolved.

<div align='center'>F-64

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

| 2. | APPLICATION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS 
 (cont.)                                                    |

Fashion, arts and luxury media advertising and marketing services

Fashion, arts and luxury media advertising and marketing services
income is composed of advertising service 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