Company: TGE
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001213900-25-057225
Chunk: 310

Company: Generation Essentials Group
Filing Date: 2025-06-24
Form: F-1
Chunk 310
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2022, 2023 AND 2024</div>

| 15. | ACCOUNTS RECEIVABLE (cont.) |

As of December 31, 2022, the probability of default ranged
from 0.39% to 0.57% and the loss given default was estimated to be 45%. As of December 31, 2023, the probability of default ranged
from 0.39% to 0.57% and the loss given default was estimated to be 46.9%. As of December 31, 2024, the probability of default ranged
from 0.39% to 0.57% and the loss given default was estimated to be 46.9%. The ECL as of December 31, 2022, 2023 and 2024 were immaterial
and no loss allowance for accounts receivable was provided.

| 16. | PREPAYMENTS, DEPOSITS AND OTHER RECEIVABLES |

|                                                  |     | As of December 31, |       |   |     |         |       |   |     |         |       |   |
|                                                  |     |               2022 |       |   |     |    2023 |       |   |     |    2024 |       |   |
|                                                  |     |            US$’000 |       |   |     | US$’000 |       |   |     | US$’000 |       |   |
| Prepayments                                      |     |                    |    67 |   |     |         |   506 |   |     |         | 1,727 |   |
| Deposits                                         |     |                    |   199 |   |     |         |   353 |   |     |         |   195 |   |
| Other receivables                                |     |                    | 2,194 |   |     |         | 2,287 |   |     |         | 1,621 |   |
| Less: impairment losses provided under ECL model |     |                    |  (501 | ) |     |         |  (501 | ) |     |         |  (501 | ) |
| Total                                            |     |                    | 1,959 |   |     |         | 2,645 |   |     |         | 3,042 |   |

| 17. | DERIVATIVE FINANCIAL INSTR