Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 355

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 355
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3 million, partially offset by the disposal of subsidiaries of US$1.0 million. Cash generated from investing activities in 2023 was US$6.7 million, consisting primarily of net receipt from amounts due from joint ventures. Cash generated from investing activities in 2022 was US$0.2 million due to the acquisition of subsidiaries. Financing Activities Cash generated from financing activities in 2024 was US$6.2 million, consisting primarily of net receipt from amount due to ultimate holding company of US$34.9 million, partially offset by interest paid of US$10.9 million and repayment paid to subsidiaries’ non -controllingshareholders of US$15.7million. Cash used in financing activities in 2023 was US$2.5 million, consisting primarily of interest paid of US$2.6 million and repayment to subsidiaries’ non -controllingshareholders of US$2.1 million, partially offset by net receipt from amount due to ultimate holding company of US$2.8 million. Cash generated from financing activities in 2022 was US$1.1 million, consisting primarily of new bank borrowing raised of US$5.3 million and net receipt from amount due to ultimate holding company of US$3.7 million, partially offset by repayment to subsidiaries’ non -controllingshareholders of US$6.4 million and interest paid of US$1.6 million. Material Cash Requirements Our material cash requirements as of December31, 2024 and any subsequent interim period primarily include (i) borrowings, (ii) amount due to our ultimate holding company, (iii) amounts due to non -controllingshareholders of our subsidiaries, and (iv) lease liabilities. Our borrowings mainly comprise of secured bank borrowings of US$219.6 million, which are denominated in Hong Kong dollars, Singapore dollars and USD, and unsecured bank borrowings of US$25 thousands. Except for bank borrowings of US$11.0 million carrying a fixed -rateinterest of 5.0% per annum, other bank borrowings carry variable interest rates with a weighted average contractual interest rate of 4.03% per annum as of December31, 2024. Our amount due to our ultimate holding company mainly consists of interest -freecurrent account with our ultimate holding company. The amount will be waived by our ultimate holding company upon Closing. Our amounts due to non -controllingshareholders of our subsidiaries consists of interest -