Company: TGE
Filing Date: 2025-02-19
Form Type: DRS
Source: 0001213900-25-015012
Chunk: 348

Company: Generation Essentials Group
Filing Date: 2025-02-19
Form: DRS
Chunk 348
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1.9 million, a decrease in accounts payable of US$1.6 million and an increase in accounts receivable of US$0.9 million, partially offset by an increase in contract liabilities of US$0.8 million. Investing Activities Cash generated from investing activities in the six months ended June 30, 2024 was US$3.3 million), consisting primarily of the acquisition of subsidiaries of US$4.3 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 the six months ended June 30, 2024 was US$36.0 million, consisting primarily of net receipt from amount due to ultimate holding company of US$39.5 million, partially offset by interest paid of US$3.0 million. 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. 220

Material Cash Requirements Our material cash requirements as of June 30, 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 consists secured bank borrowings of US$220.3 million, which is denominated in Hong Kong dollars, Singapore dollars and USD, and unsecured bank borrowings of US$35,000. Except for bank borrowings of US$11.1 million carrying at fixed -rateof 5.0% per annum, other bank borrowings carry variable interest rates