Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 347

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 347
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 | (3,750 | ) |
| Exchange realignment                  |     |         |    (33 | ) |
| As of December 31, 2024               |     |         |      — |   |

| (b) | Provision for replacement |

The amount represented provision for the replacement and maintenance
of furniture, fixtures and equipment within the hotels of the Group.

<div align='center'>F-86

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

| 25. | DEFERRED TAX LIABILITIES |

The movements in deferred tax liabilities during the years
are as follows:

| As of January 1, 2022                 |     | Intangible 
 assets     
 US$’000    |     — |   |
|:--------------------------------------|:----|:-----------|------:|:--|
| Acquisition of subsidiaries (note 34) |     |            | 2,769 |   |
| Exchange realignment                  |     |            |  (108 | ) |
| As of December 31, 2022               |     |            | 2,661 |   |
| Acquisition of subsidiaries (note 34) |     |            | 2,961 |   |
| Exchange realignment                  |     |            |     2 |   |
| As of December 31, 2023               |     |            | 5,624 |   |
| Exchange realignment                  |     |            |    34 |   |
| As of December 31, 2024               |     |            | 5,658 |   |

| 26. | AMOUNTS DUE TO SUBSIDIARIES’ NON-CONTROLLING SHAREHOLDERS |

|                                                                                      |     | As of December 31, |        |     |         |        |     |         |        |
|                                                                                      |     |               2022 |        |     |    2023 |        |     |    2024 |        |
|                                                                                      |     |            US$’000 |        |     | US$’000 |        |     | US$’000 |        |
| Interest-free                                                                        |     |                    | 19,268 |     |         | 24,322 |     |         | 63